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Rising at 6.20% CAGR, Agricultural Testing Market Size to Reach USD 7597.07 Million, Globally by 2028: Comprehensive Research Report by Facts & Factors

·7 min read
Facts & Factors
Facts & Factors

Key players in the global agricultural testing market include SGS, Bureau Veritas, Intertek, Eurofins, TÜV Nord Group, Merieux, AsureQuality, RJ Hill Laboratories, and Agrifood Technology, Apal Agricultural Laboratory, SCS Global, and ALS Limited.

NEW YORK, US, Sept. 05, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Agricultural Testing Market Size, Share, Growth Analysis Report By Sample (Soil, Water, Seed, Compost, Manure, Biosolids, Plant Tissue), By Application (Safety Testing, Quality Assurance), By Technology (Conventional, Rapid), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.

According to Facts and Factors, the global agricultural testing market size was worth USD 5,295.40 million in 2021 and is estimated to grow to USD 7597.07 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.20% over the forecast period.

The report analyzes the agricultural testing market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the agricultural testing market.

Market Overview:

Soil testing is one of the key methods used in agriculture to guarantee crop quality and increase farm productivity. Soil testing, often known as agricultural testing, enables accurate fertilizer delivery and increases agricultural output. Agricultural soil fertility is one of the most important aspects to consider when enhancing crop quality and production. Agriculture testing gives information on the nutrients in the soil and aids commercial farmers in determining which plant nutrients need to be added to the soil to enrich it even more. Farmers may raise soil production, preserve crop health, and improve farming efficiency using agricultural soil testing to optimize earnings.

Measurements of the soil's potassium, calcium, phosphorus, magnesium, copper, manganese, zinc, and other elements are also made as a result of this process. As a result, testing aids in analyzing soil composition, determining the nutrients present, and other elements like fertility, salinity, contamination level, and acidity or pH level. This information is then used to aid agricultural producers in making better agronomic choices.

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Market Dynamics

The increase in farming activities worldwide, the rising demand for food and other agricultural products like fibers and raw materials, the increased use of agricultural soil testing services & solutions, and the increasing awareness of the advantages of soil testing among agricultural producers are the main drivers of the global agricultural testing market's revenue growth. A growing number of agriculture soil testing labs or facilities around the world, strict regulations for the safety and quality of agricultural produce, an increase in the incidence of foodborne illnesses, rapid industrialization and urbanization leading to environmental pollution, and the increasing importance of agriculture testing in healthy crop growth are a few of the other key factors influencing the growth of the global market.

Due to several adverse variables, the revenue growth of the global agricultural testing market is severely constrained. Over the projected period, it is anticipated that factors such as a lack of technical knowledge or competence among farmers, particularly in rural or undeveloped areas, and a lack of awareness of agricultural testing techniques and their long-term advantages would restrain market revenue development.

Covid-19 Impact:

COVID-19 will probably only has a short-term impact on the soil testing industry. The global pandemic has very little of an effect on the market because agricultural testing is dominated by quality assurance, which helps to solve major issues with soil fertility, the quality of the water available for irrigational facilities, and identifying the necessary nutrients for more robust growth and development of crops and other agricultural products.

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Key Insights

  • As per the analysis shared by our research analyst, the global agricultural testing market value is expected to grow at a CAGR of 6.20% over the forecast period.

  • In terms of revenue, the global agricultural testing market size was valued at around USD 5,295.40 million in 2021 and is projected to reach USD 7,597.07 million by 2028.

  • The growing demand for sustainable agriculture methods and the strict safety and quality requirements are driving the expansion of the agricultural testing market, which has been encouraging the growth of the worldwide agricultural testing market.

  • By sample, the soil category dominated the market in 2021.

  • By application, the quality assurance category dominated the market in 2021.

  • The Asia-Pacific dominated the global agricultural testing market in 2021.

Segmental Overview

The global agricultural testing market is segregated based on the sample, application, technology, and region. Based on the sample, the market is classified into the soil, water, seed, compost, manure, biosolids, and plant tissue. Among these, the soil segment dominates the market in 2021. The market is classified into safety testing and quality assurance based on application. The quality assurance segment dominates the market in 2021. Based on technology, the market is classified into conventional and rapid. Rapid technology dominates the market in 2021.

Browse the full “Agricultural Testing Market Size, Share, Growth Analysis Report By Sample (Soil, Water, Seed, Compost, Manure, Biosolids, Plant Tissue), By Application (Safety Testing, Quality Assurance), By Technology (Conventional, Rapid), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/agricultural-testing-market

Regional Overview

The global agricultural testing market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In 2021, the agricultural testing market was headed by Asia-Pacific with the largest share, followed by North America and Europe. The economy of Asia Pacific is mostly driven by the economic dynamics of nations like China and India.

However, the current situation is changing due to increased foreign direct investment in Southeast Asia's economic growth. A rise in the number of exports from Southeast Asia and the use of cutting-edge biotechnology techniques and organic farming in those nations have necessitated agricultural testing for the produce.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 5,295.40 Million

Projected Market Size in 2028

USD 7597.07 Million

CAGR Growth Rate

6.20% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

SGS, Bureau Veritas, Intertek, Eurofins, TÜV Nord Group, Merieux, AsureQuality, RJ Hill Laboratories and Agrifood Technology, Apal Agricultural Laboratory, SCS Global, ALS Limited., and Others

Key Segment

By Sample, Application, Technology, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

Purchase Options

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Competitive Landscape

Key players in the global agricultural testing market include SGS, Bureau Veritas, Intertek, Eurofins, TÜV Nord Group, Merieux, AsureQuality, RJ Hill Laboratories, and Agrifood Technology, Apal Agricultural Laboratory, SCS Global, and ALS Limited.

Recent Development:

  • November 2020: To create a new GC/TQ method, Agilent Technologies Inc. announced its partnership with SGS, a prominent provider of lab testing and inspection services based in Canada. The U.S. Environmental Protection Agency (EPA) certified the new technique, known as SGS AXYS Method 16130, to detect dioxins, which are extremely dangerous pollutants that cause cancer and significant immunological and reproductive system abnormalities.

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Global Agricultural Testing Market is segmented as follows:

By Sample

  • Soil

  • Water

  • Seed

  • Compost

  • Manure

  • Biosolids

  • Plant tissue

By Application

  • Safety testing

  • Quality assurance

By Technology

  • Conventional

  • Rapid

By Region

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • France

    • The UK

    • Spain

    • Germany

    • Italy

    • Nordic Countries

      • Denmark

      • Sweden

      • Norway

    • Benelux Union

      • Belgium

      • The Netherlands

      • Luxembourg

    • Rest of Europe

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Southeast Asia

      • Indonesia

      • Thailand

      • Malaysia

      • Singapore

      • Rest of Southeast Asia

    • Rest of Asia Pacific

  • The Middle East & Africa

    • Saudi Arabia

    • UAE

    • Egypt

    • South Africa

    • Rest of the Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

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