The agricultural testing market is projected to reach USD 9.8 billion by 2028 from USD 6.7 billion by 2023, at a CAGR of 7.1%
during the forecast period in terms of value. The agricultural testing market is a sector that focuses on safety testing and quality assurance of agricultural products. It involves various analytical techniques and methodologies to assess the safety, quality, and compliance of agricultural commodities, including crops and agricultural commodities.
New York, June 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Agricultural Testing Market by Sample, Application, Technology and Region - Global Forecast to 2028" - https://www.reportlinker.com/p02975909/?utm_source=GNW
The primary objective of agricultural testing is to ensure that agricultural products meet the required standards and regulations for human consumption, export/import, and overall market acceptance; Agricultural testing is carried out by various stakeholders, including government regulatory bodies, private laboratories, and quality control departments of food companies. The agricultural testing market has experienced significant growth in recent years due to several factors. Increasing consumer awareness about food safety, stringent regulations regarding pesticide residues, and the need for quality assurance throughout the supply chain are some of the key drivers of market growth. Additionally, globalization of the food trade has created a demand for reliable testing services to ensure compliance with import/export requirements.
"By sample, soil is projected in high demand during the forecast period."
Soil testing is a vital component of the agricultural testing market due to its importance in optimizing crop production, ensuring environmental sustainability, and promoting the efficient use of resources.By understanding the nutrient levels in the soil through regular soil testing, farmers can apply fertilizers more strategically and in appropriate quantities.
Soil testing provides information on the existing nutrient content in the soil, allowing farmers to make informed decisions about nutrient application rates.By matching the nutrient application to the specific needs of the crops and soil, farmers can minimize the risk of excessive nutrients reaching water bodies.
Growing environmental consciousness among consumers, governments, and organizations has increased the focus on sustainable agricultural practices.Soil testing plays a vital role in promoting environmental sustainability by reducing nutrient runoff, preventing water pollution, and minimizing the ecological impact of agriculture.
As a result, there is a rising demand for soil testing services from farmers and agricultural stakeholders who want to adhere to sustainable practices. This increased awareness and demand contribute to the growth of the agricultural testing market.
"By application, quality assurance is projected in high demand during the forecast period.
Consumers are becoming more conscious about the quality and safety of the food they consume.They demand transparency, traceability, and assurance that the agricultural products they purchase meet certain quality standards.
As a result, there is a growing need for quality assurance services in the agricultural testing market to ensure that products comply with safety regulations, meet specified quality parameters, and are free from contaminants.Also, governments and regulatory bodies have implemented stricter regulations and standards for agricultural products to ensure food safety and protect public health.
Compliance with these regulations is mandatory for producers and exporters. Quality assurance services play a crucial role in helping agricultural businesses meet these requirements by conducting comprehensive testing, verification, and certification processes.
"By technology, rapid technology is projected in high demand during the forecast period.
Rapid testing technologies provide quick and efficient results compared to traditional testing methods.They significantly reduce the time required for sample preparation, analysis, and result generation.
This time efficiency is crucial for agricultural businesses as it allows for faster decision-making and enables timely interventions in crop management, quality control, and safety assurance.Also, the rapid testing technologies often offer the advantage of portability and on-site testing capabilities.
This means that samples can be tested directly at the farm, processing facility, or point of production, eliminating the need to transport samples to off-site laboratories. On-site testing provides real-time results, allowing immediate actions to be taken based on the test outcomes, such as adjusting fertilizer applications, making quality control decisions, or ensuring food safety at critical control points.
*Europe will significantly contribute towards market growth during the forecast period.*
Europe has rigorous regulatory standards for food safety, quality assurance, and environmental protection.The European Union (EU) has implemented strict regulations and directives governing various aspects of agricultural production, including pesticide residues, heavy metals, mycotoxins, GMOs, and organic farming.
Compliance with these standards requires extensive testing and analysis throughout the agricultural supply chain.The demand for agricultural testing services has grown in response to these regulations, driving market growth in the region.
Also, consumers in Europe have become more conscious about the quality, safety, and sustainability of the food they consume.They demand transparency, traceability, and assurance that agricultural products are produced in an environmentally friendly and socially responsible manner.
This heightened consumer awareness has created a need for comprehensive agricultural testing services to ensure compliance with quality standards and provide verifiable information to consumers. The market has grown to meet this demand.
*Break-up of Primaries:*
• By Company Tpye: Tier1-30%, Tier 2-30%, Tier 3- 40%
• By Designation: CXOs-31%, Managers – 24%, and Executives- 45%
• By Region: South America-10%, Asia Pacific – 20%, Europe - 30%, North America - 35%, RoW– 5%,
*Leading players profiled in this report:*
• SGS (Switzerland)
• Eurofins (Luxembourg)
• Intertek (UK)
• Bureau Veritas (France)
• ALS Limited (Australia)
• TUV Nord Group (Germany)
• Merieux (US)
• AsureQuality (New Zealand)
• RJ Hill Laboratories Limited (New Zealand)
• SCS Global (US)
• Agrifood Technology (Australia)
• APAL Agricultural Laboratory (Australia)
• Agvise Laboratories (US)
• LGC Limited (UK)
• Water Agricultural Laboratories (US)
The study includes an in-depth competitive analysis of these key players in the agricultural testing market with their company profiles, recent developments, and key market strategies.
*Research Coverage:*
The report segments the agricultural testing market on the basis of sample, application, technology, region. In terms of insights, this report has focused on various levels of analyses—the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global agricultural testing market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
*Reasons to buy this report:*
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall agricultural testing market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
*The report provides insights on the following pointers:*
• Analysis of key drivers (stringent safety and quality regulations for agricultural commodities), restraints (lack of coordination between market stakeholders and supporting infrastructure in developing economies, and improper enforcement of regulatory laws), opportunity (technological advancements in the testing industry), and challenges (the high cost of agriculture testing ) influencing the growth of the agricultural testing market.
• Product Development/Innovation: Detailed insights on research & development activities, and new product & service launches in the agricultural testing market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the agricultural testing market across varied regions.
• Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the agricultural testing market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players SGS (Switzerland), Eurofins (Luxembourg), ALS Limited (Australia), Intertek (UK), and Bureau Veritas (France) are among others in the agricultural testing market strategies. The report also helps stakeholders understand the laboratory testing service market and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p02975909/?utm_source=GNW
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