Market Overview:
Agricultural testing includes safety and quality testing of seeds, soil, water used for irrigation, fertilizers, bio-stimulants, and pesticides. It ensures consumers get food products that are safe, meets all regulatory requirements and standards. Agricultural testing protects farmers interests and enables informed decision making.
Market key trends:
One of the key trends in the agricultural testing market is increasing adoption of rapid testing technology. Rapid testing solutions help in analyzing large number of samples quickly and provide instant results. This enables timely response to contamination issues and ensures safe food reaches consumers. Companies are focusing on developing rapid testing kits, portable analyzers, and lab-on-chip devices capable of detecting multiple contaminants or nutrients simultaneously in less time. This is expected to drive the demand for agricultural testing over the forecast period.
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 segmented by product, contaminants, and region. The product testing segment dominated the market in 2021 with a share of over 35%. Product testing ensures quality, safety, and compliance of agricultural products with regulations. It dominated owing to increasing cases of food contamination and implementation of stringent food safety regulations mandating quality and composition testing of agricultural products.
Key Takeaways
The global agricultural testing market is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing consumer awareness about food quality and safety.
The North American region dominated the agricultural testing market in 2021 with a share of over 30%. Stringent regulations regarding agricultural testing and rising concerns over food safety are driving the market in the region. The Asia Pacific region is expected to witness the highest growth over the forecast period with a CAGR of around 7%, owing to the increasing focus of governments and farmers on food safety and quality.
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. Eurofins Scientific and SGS SA are the global leaders in the market owing to their wide service portfolio and geographic presence.
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