The agricultural testing market is estimated to be valued at USD 4.56 Billion in 2017, and is projected to reach USD 6.29 Billion by 2022, at a CAGR of 6.64% during the forecast period. The market is driven by the global increase in outbreaks of foodborne illnesses, the implementation of stringent safety and quality regulations for agricultural commodities and food in developed economies, and rapid industrialization leading to the disposal of untreated industrial waste into the environment.
Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=203945812
Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=203945812
The agricultural testing market, based on sample, has been segmented into soil, water, seed, compost, manure, biosolids, and plant tissue. The market for testing for soil is estimated to dominate in 2017, and is also projected to be the second fastest-growing segment during the forecast period. The growing contamination of soil, caused by wastewater and industrial effluents, has been propelling the importance of soil testing; this, in turn, is driving the market for agricultural testing.
The agricultural testing services market, by technology, has been segmented into conventional and rapid. The rapid technology segment is estimated to dominate the market in 2017, and is projected to grow at a higher CAGR by 2022. This can be attributed to low turnaround time, higher accuracy, sensitivity, and ability to test a wide range of bacteria in comparison to conventional technological methods.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=203945812
Europe accounted for the largest market share in the agricultural testing market. The dominant share of this region is attributed to the stringency in food safety, environmental, and agricultural regulations and laws pertaining to the nutritional content, chemicals, and labeling. Europe also has the highest number of testing laboratories among all regions. The Asia Pacific market is projected to grow at the highest CAGR from 2017 to 2022 and is driven by China, Japan, India, and Australia; this growth can be attributed to the increase in awareness about food safety norms and implementation of regulations for their testing in these countries.
Lack of coordination between market stakeholders and supporting infrastructure in developing economies, and the improper enforcement of regulatory laws are the major restraints for the growth of this market.
The global market for agricultural testing is dominated by large-scale players including SGS (Switzerland), Bureau Veritas (France), Intertek (UK), Eurofins (Luxembourg), TÜV Nord Group (Germany), Merieux (US), AsureQuality (New Zealand), RJ Hill Laboratories (New Zealand), Agrifood Technology (Australia), Apal Agricultural Laboratory (Australia), SCS Global (US), and ALS Limited (Australia).
