The global Agricultural Testing Market is estimated to be valued at USD 5,427.4 million in 2021 and is expected to exhibit a CAGR of 5.67% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
The agricultural testing market includes the testing and analysis of various agricultural products such as soil, water, seed, and crop samples to determine their quality, nutritional content, and potential presence of contaminants. This market is driven by the increasing demand for quality agricultural products, growing concerns about food safety, and the need for compliance with stringent regulations. Agricultural testing helps farmers and agriculture-based businesses to ensure the productivity and safety of their products, leading to improved crop yields and profitability.
B) Market Dynamics:
1. Driver 1: Rising Demand for Quality Agricultural Products
The increasing global population and changing consumer preferences have led to a growing demand for high-quality and safe agricultural products. Consumers today are more conscious about the food they consume and are willing to pay a premium for products that are certified for quality and safety. Agricultural testing helps in assuring the quality and safety of agricultural products, including fruits, vegetables, and grains, by detecting contaminants such as pesticides, heavy metals, and pathogens. This drives the demand for agricultural testing services.
For example, in the case of organic farming, where the use of synthetic fertilizers and pesticides is restricted, agricultural testing plays a crucial role in certifying the organic status of the products. This helps organic farmers gain credibility and access premium markets.
2. Driver 2: Increasing Stringency of Regulations
Governments and regulatory bodies across the globe are implementing stringent regulations to ensure the safety and quality of agricultural products. These regulations require farmers and food manufacturers to comply with standards related to the use of pesticides, fertilizers, and other chemicals in agriculture. Agricultural testing helps in monitoring and verifying the compliance with these regulations.
For instance, the Food Safety Modernization Act (FSMA) in the United States mandates the implementation of preventive controls and strict monitoring of agricultural practices to prevent foodborne illnesses. Agricultural testing is an essential component of the FSMA compliance process, enabling the detection of contaminants and ensuring the safety of food products.
C) SWOT Analysis:
1. Technological advancements in agricultural testing methodologies
2. Increasing awareness about food safety among consumers
1. High costs associated with agricultural testing services
2. Lack of awareness and infrastructure in developing countries
1. Growing adoption of precision agriculture techniques
2. Increasing demand for organic and non-GMO agricultural products
1. Intense competition among market players
2. Adverse impact of the COVID-19 pandemic on the agriculture sector
D) Key Takeaways:
– The global Agricultural Testing Market Size is expected to witness high growth, exhibiting a CAGR of 5.67% over the forecast period, due to the increasing demand for quality agricultural products and the rising stringency of regulations.
– North America is expected to dominate the market due to the presence of stringent regulations and a well-established agricultural industry.
– The key players operating in the global agricultural testing market include 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. These players focus on strategic partnerships, product innovation, and expansion to strengthen their market presence.
In conclusion, the global agricultural testing market is witnessing significant growth driven by the increasing demand for quality agricultural products and the implementation of stringent regulations. Agricultural testing ensures the safety and quality of agricultural products, supporting the growth of the agriculture sector and fulfilling consumer expectations for safe and nutritious food.