Agricultural Testing Market is set to flourish & reach USD 7.4 Billion by 2028

Vantage Market Research

Dec 07, 2021

The Agricultural Testing Market size is valued at USD 5.27 billion in 2020 and is projected to achieve USD 7.4 billion by 2028, growing at a CAGR of 5.7% from 2021 to 2028. Safety and quality assurance are the factors that are propelling the expansion of the market, owing to the high demand for sustainable agriculture practices, which has been boosting the expansion of the global Agricultural Testing Market.

Key Findings

  • The soil testing segment held the largest market share in 2017, соntributing to nearly 53% of the market.  This аррliсаtiоn segment will dominate the global market throughout the fоreсаst рeriоd. The North America region held the largest share of the market in 2017, ассоunting for more than 40% share.  It was followed by Europe, the Middle East, Africa, and Asia-pacific respectively.  Although Asia-pacific held the smallest share of the market, it is expected to witness the maximum increase in its market share over the fоreсаst рeriоd.
  • Safety and quality testing are expected to be the fastest-growing market for application. The dominance of quality assurance in agricultural testing is due to the fact that it helps to quickly solve major problems related to soil fertility, the level of water available in irrigated areas, and to the identification of the nutrients needed for strong growth and crop development.
  • Increased demand for agricultural production and environmental protection has increased the market growth. The growing demand in developing countries such as China, India, and Brazil, coupled with further technological advances is expected to boost the future growth opportunities in the Agricultural Testing Market.
  • Asia-Pacific holds the highest CAGR for the Agricultural Testing Market due to an increase in the incidence of foodborne illness. Increased development in research facilities and local testing facilities are some of the major factors that are expected to target market growth. Moreover, government regulations and official approvals regarding environmental safety and production are expected to further help in the Agricultural Testing Market growth.

Implementation of specific laws and regulations relating to environmental protection and agricultural production is another major factor driving the Agricultural Testing Market. There is a need to overcome foodborne diseases caused by the presence of germs and organic residues in foods that contribute to market growth. The main obstacle to the market growth is the testing of seed, soil, water, and manure samples which require appropriate enforcement measures, cooperation between market participants, and supporting infrastructure. Many developing economies are lacking in these factors, which serve as a barrier to the growth of agricultural testing.

Countries like India, China, and Southeast Asia use government financial assistance and technology development for flourishing the Agricultural Testing Market. The governing bodies of these developing countries should use their resources to improve infrastructure and improve technology. However, security and quality control services require significant improvements in infrastructure and increased communication & cooperation between industry and government. The reversal of these factors has been hampering the growth of the market in other developing countries.

Key Players

The Global Agricultural Testing Market key players are Eurofins Scientific, Agilent Technologies Inc, SCS Global Services, Bureau Veritas SA, ALS Limited, Element Materials Technology, TUV Nord Group, Apal Agricultural Laboratory, Intertek Group PLC, EMD Millipore Corporation, BioMerieux SA, Aurea Agrosciences, 3M Company, among others.