The agricultural testing market was valued at USD 4.30 Billion in 2016; this is projected to reach 6.29 Billion by 2022, at a CAGR of 6.64% during the forecast period. Stringent safety and quality regulations for agricultural commodities, increase in outbreaks of foodborne illnesses, and rapid industrialization leading to the disposal of untreated industrial waste into the environment are the factors driving this market.
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Soil segment is estimated to be the largest in 2017
The agricultural testing market, by sample, is estimated to be dominated by the soil segment, since soil testing helps to determine the fertility or the expected enhancement of the soil, which indicates nutrient deficiencies, potential toxicities from excessive fertility, and inhibitions due to the presence of non-essential trace minerals.
Quality assurance segment set to dominate the market by2022
The agricultural testing market, by application, is projected to be dominated by the quality assurance segment during the forecast period. Increase in requirements for the quality of agrarian products in the world can be attributed to the export-oriented agricultural food sector as well as the need for implementing modern mechanisms of quality assurance, witnessed due to globalization.
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Rapid technology segment is projected to be the fastest-growing market during the forecast period
The rapid technology segment is estimated to dominate the market for agricultural testing in 2017, and is also projected to be the fastest-growing from 2017 to 2022. Low turnaround time, higher accuracy & sensitivity, and the capacity to test a wide range of contaminants compared to the conventional technology are the factors driving the market for rapid technology.
Asia Pacific is projected to be the fastest-growing market during the forecast period
The Asia Pacific market is projected to grow at the highest CAGR from 2017 to 2022. Major growth drivers of the region include increased adoption of advanced biotechnological methods and organic farming resulting in the need for agricultural testing, and an increase in the number of exports from the region, necessitating agricultural testing for the produce.
This report includes a study of marketing and development strategies, along with the services & product portfolios of leading companies. It includes the profiles of leading service companies such as SGS (Switzerland), Intertek (UK), Eurofins (Luxembourg), Bureau Veritas (France), ALS Limited (Australia), and TÜV NORD GROUP (Germany). It also includes profiles other players that also have significant share in this market such as Mérieux (US), AsureQuality (New Zealand), RJ Hill Laboratories (New Zealand), SCS Global (US), Agrifood Technology (Australia), and Apal Agricultural Laboratory (Australia).