by Market Overview:
The agricultural testing market consists of testing of soil, water, seed, and compositional testing of agricultural produce. Soil testing helps determine the nutrient needs of crops, water testing ensures availability of suitable irrigation water, seed testing verifies seed viability and purity, and produce testing certifies quality standards for food safety and international trade. Precision farming utilizing big data analytics complements agricultural testing to maximize yields.
Market Dynamics:
The growth of the Agricultural Testing Market is driven by the need for quality checks during production and trade of agricultural commodities. Stringent food safety regulations necessitate compositional and contaminant testing of farm produce. Adoption of sustainable practices and precision agriculture has increased the demand for routine soil and water analysis for optimized land and crop management. Furthermore, international trade agreements require certification of products through agricultural testing, thereby fueling market expansion. Climate change is impacting soil conditions and increasing pest infestation, augmenting test frequency. Technological advancements are automating processes and enabling on-site testing for real-time decision making.
The global Agricultural Testing Market Demand is estimated to be valued at US$ 6.1 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The agricultural testing market is dominated by the soil segment which accounts for nearly 30% share of the overall market. Soil testing helps farmers and agriculturists understand the nutrient levels and quality of the soil they are cultivating crops in. It determines whether the soil has appropriate levels of nutrients like nitrogen, phosphate and potassium which are essential for plant growth. Regular soil testing helps ensure optimal application of fertilizers and avoids over or under feeding of crops. This leads to higher productivity and quality of agricultural produce.
PEST Analysis
Political: Government policies that support precision agriculture and encourage regular soil and crop testing through subsidies are driving the market growth. Economic: Rising global food demand coupled with shrinking arable land is increasing the need for optimized agricultural yield through scientific testing of soil and crops. Social: Rising consumer awareness about food security and quality is promoting quality compliance testing of agricultural commodities. Technological: Advancements in testing technologies like portable soil testing kits and rapid diagnostics are making tests more affordable and accessible to farmers.
Key Takeaways
The global Agricultural Testing Market size was valued at US$ 6.1 Bn in 2023 and is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing adoption of precision agriculture and integrated pest management practices. North America dominated the market with over 30% share owing to extensive contract farming and presence of leading testing companies in the US and Canada. Key players operating in the Agricultural Testing market are Eurofins Scientific, Agilent Technologies Inc., SCS Global Services, Bureau Veritas SA, ALS Limited, Element Materials Technology (EXOVA), TUV Nord Group, Apal Agricultural Laboratory, Intertek Group PLC, EMD Millipore Corporation (Millipore Sigma), BioMerieux SA, Aurea AgroSciences, 3M Company, Charm Sciences Inc., Neogen Corporation, and Biolumix. The European region is expected to grow at the fastest rate during the forecast period due to stringent food safety regulations and focus on export of agricultural commodities in countries like Germany, France, and UK.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
