The Global Agricultural Testing Market was valued at US$ million in 2022, according to the Global Agricultural Testing Market Report, By Sample Global Agricultural Testing Market, By Sample:Water Testing (Soil Testing, Seed Testing, Biosolids Testing, Manure Testing, Other Samples), By Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), as published by Coherent Market Insights.
The global agricultural testing market is estimated to account for US$ 5.74 Bn in terms of value by the end of 2022.
Global Agricultural Testing Market: Drivers
- Increasing demand for food safety: With the growing population, there is a rising demand for food safety and quality. Agricultural testing helps in ensuring the safety and quality of food products, which is driving the demand for agricultural testing services. For instance Additionally, the World Health Organization (WHO) has been advocating for food safety as an important component of health security and updating the WHO Global Strategy for Food Safety (2022–2030) to support Member States to strengthen their national food control systems and reduce the burden of foodborne diseases
- Technological advancements: The agricultural testing industry is witnessing technological advancements, such as the development of rapid testing methods, which are more accurate and efficient than traditional testing methods. This is driving the demand for agricultural testing services. For instance in 2023 According to a McKinsey report, farmers are open to innovation, and there is a transition toward more sustainable, less resource-intensive food systems, with precision agriculture as a key enable
Global Agricultural Testing Market: Opportunities
Rapid urbanization and the increasing disposable income of consumers are expected to bring lucrative growth opportunities over the forecast period. Increasing demand for food that is free from pesticides and insects is driving demand for agricultural testing. Moreover, the growing incidence of carcinogenic diseases due to the presence of heavy metals in agricultural produce has raised concern among the global population. This is further anticipated to foster market growth.
Global Agricultural Testing Market: Restraints
The negative impact of COVID-19 on the global economy had brought a halt to the export and import of agricultural products. This had impacted market growth to some extent.
To know the latest trends and insights prevalent in The Global Agricultural Testing Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/agricultural-testing-market-5285
Global Agricultural Testing Market - Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has affected global food and nutritional security by disrupting the food supply chain from the farm gate to the household. The pandemic has impacted both staple commodities and high-value commodities. The logistics of distributing staple commodities are affected as transportation across cities, provinces, regions, and countries is hampered. High-value commodities are affected by labor shortages. Overall, the pandemic has had a serious impact on food and security and made countries across the world to realize the importance of sustainable food production and invest in research focusing on enhancing food production.
Key Takeaways:
- The global agricultural testing market was valued at US$ 5.74 Bn in 2022 and is forecast to reach a value of US$ 9.37 Bn by 2030 at a CAGR of 6.3% between 2023 and 2030.
- The soil testing sample segment held a dominant position in the global agricultural testing market in 2022, accounting for 40% share in terms of value. Increasing approval and the launch of new products are expected to propel growth of the segment during the forecast period.
Global Agricultural Testing Market Trends:
- Shifting consumer preferences towards a higher standard of food safety and quality in terms of chemical residues is driving demand for quality crop production. This is one of the major trends observed in the market, thereby propelling market growth.
- Increasing adoption of advanced agricultural equipment is again expected to foster market growth. Moreover, key players in the market are adopting business growth strategies such as partnerships and agreements to expand geographical presence. For instance, in April 2022, Google partnered in a research collaboration with agricultural tech open digital platform nurture.farm to identify scalable and cost-effective solutions to measure soil health, measuring parameters such as soil organic carbon and other key nutrients.
Global Agricultural Testing Market: Competitive Landscape
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
Global Agricultural Testing Market: Recent Developments
In January 2020, ALS Limited acquired Aquisima, the leading food testing business in southern Europe. This acquisition aided in expanding the company’s client base and its presence in the region.
