Agricultural testing is vital to ensuring that food and agriculture is safe. There is a growing need for accurate and timely results in agricultural testing. Compliance with regulations and policies is essential to protect consumers and farmers.
The global agricultural testing market is estimated to account for US$ 5,426.30 Mn in terms of value by the end of 2021.
Global Agricultural Testing Market: Drivers
Increasing liberalization of trade and growing agricultural exports is driving growth of the agricultural testing market. According to ITC Trade, India’s exports of rice were valued at USD 5,314,875 in 2016, and it had increased significantly to USD 7,361,500 by 2018.
Global Agricultural Testing Market: Opportunities
Rapid urbanization and increasing disposable income of consumers are expected to bring lucrative growth opportunities over the forecast period. Increasing demand for food that are free from pesticides and insects are driving demand for agricultural testing. Moreover, growing incidence of carcinogenic diseases due to the presence of heavy metals in the agricultural produce has raised concern among the global population. This is further anticipated to foster market growth.
Global Agricultural Testing Market: Restraints
Negative impact of covid-19 on the global economy had bring halt to the export and import of agricultural products. This had impacted the market growth to some extent.
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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 to distribute staple commodities is affected as transportation across cities, provinces, regions, and countries is hampered. High-value commodities are affected by labour shortages. Overall, the pandemic has caused a serious impact on food and security and made the countries across the world to realize the importance of sustainable food production and invest in the research focusing to enhance food production.
The global agricultural testing market was valued at US$ 5,426.30 Mn in 2020 and is forecast to reach a value of US$ 83,450.00 Mn by 2030 at a CAGR of 5.70% between 2022 and 2030.
Soil Testing sample segment held dominant position in the global agricultural testing market in 2021, accounting for 25.39% share in terms of value, increasing approval and launch of new products is 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 trend observed in the market, thereby propelling market growth.
Increasing adoption of advanced agricultural equipment is again expected to foster the market growth. Moreover, key players in the market are adopting business growth strategies such as partnership and agreement to expand geographical presence. For instance, in April 2022, Google has partnered 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