AGRICULTURAL TESTING MARKET ANALYSIS

Agricultural Testing MarketSize and Trends

The global agricultural testing market size was valued at US$ 5.74 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 6.3% from 2023 to 2030. The market for agricultural testing is witnessing strong growth on account of growing concern over food safety and sustainable practices. The increasing population and rapid urbanization are raising awareness regarding food safety. Moreover, contamination of agricultural resources such as water and land is further creating demand for testing services to evaluate pollutants present in agricultural products. All these factors are projected to accelerate market growth.

Global Agricultural Testing Market Segmentation:

• The global agricultural testing market report is segmented into sample and region. the global market over the forecast period. This is due to the growing importance of soil testing for optimizing crop production, protecting the environment from contamination by runoff and leaching of excess fertilizers, and improving the nutritional balance of the growing medium.
• Water testing segment is also expected to witness significant growth in the near future, and this is attributed to the growing demand from food and beverage, pharmaceutical, agricultural, medical, energy and power, electronics and semi-conductor, and wastewater treatment industries. According to the Coherent Market Insights analysis, in 2020, the water testing market was valued at US$ 1,146.2 million in 2020, and it is projected to reach US$ 1,762 million by 2026, registering a CAGR of 6.5% during the forecast period.

Figure 2. Global Agricultural Testing Market by Region in 2022

Global Agricultural Testing Market Trends:

• Small-scale laboratories are becoming increasingly popular: There is a growing trend for small-scale laboratories to perform soil testing activities on agricultural land around the world. Moreover, these activities are projected to be commercialized over the course of time. Also, it is expected that small-scale players was projected to emerge in the market in the coming years, which will increase competition among these small ventures as well as the established soil testing companies. Mainly, users and farmers will benefit from this, as they will have a wide range of companies and prices to choose from.
• Serological and electrophoretic: The rise in the trend of following electrophoretic and serological methods in seed testing especially in the North America region will further favor market growth.