Coconut Oil Market to Showcase Continued Growth in the Coming Years

The global coconut oil market is estimated to be valued at USD 5.4 billion in 2022. It is projected to reach USD 7.5 billion by 2027, recording a CAGR of 5.5% during the forecast period. Coconut oil is a yellowish-white solid or semi-liquid available in the form of edible oil. It is extracted from the wick, meat, and milk of the coconut palm fruit and has a low percentage of unsaturated fatty acids, and is up to 90% saturated fat with no cholesterol content. The types of coconut oils available in the industry can be classified as RBD, virgin, and crude serving various applications in the field of food & beverages, cosmetics, pharmaceuticals, and many others.

 

 

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Coconut oil is beneficial for use in cosmetics as a moisturizer, and in soaps and is used as a remedy for treating illnesses and infections, healing wounds, promoting the growth of strong bones, and protecting the skin against blemishes. It also exhibits smoothing properties and textures when used in body butter, soaps, and salves. It offers excellent emollience to dry, itchy skin, and hair, remaining suitable for sensitive, inflamed, and irritated skin without clogging the pores of the skin. It also soothes sunburns and blisters, removes dead skin, and promotes the growth of newer and healthier skin. Due to these characteristics, coconut oil is increasingly used in cosmeceutical and personal care products.

Key players in this market include Cargill (US), Archer Daniel Midlands Company (US), Bunge Limited (US)

 

Cargill is engaged in the manufacturing and marketing of food ingredients, risk management, agricultural products, financial and industrial products, and services worldwide. The company covers 75 businesses under its four major categories: food ingredients & application, animal nutrition & protein, origination & processing, and industrial & financial services. The company offers coconut oil under the food ingredients & application segment. Cargill functions in 70 countries through its subsidiaries and affiliates. The subsidiaries through which Cargill works include The Mosaic Company (US), NatureWorks LLC (US), and The Wilbur Chocolate Company (US).

 

Archer Daniel Midlands Company (ADM) is primarily engaged in producing food ingredients, animal feed & feed ingredients, biofuels, and naturally derived alternatives to industrial chemicals. The company operates through four business segments: agriculture services and oilseeds, carbohydrate solutions, nutrition, and others. ADM offers coconut oils under its food & beverage solutions segment. Coconut oil from ADM offers a great-tasting, fast melting option with various uses as it contains medium-chain fatty acids found in medium-chain triglycerides (MCT). The company consists of more than 800 plants, 321 food & feed processing facilities, 61 innovation centers, and 449 crop procurement locations globally. It has an extensive transportation network to procure, store, clean, and transport agricultural commodities.

 

Bunge Limited is a leading global agribusiness and food company with integrated operations that stretch from farmer to consumer. The company has divided its business into five segments, namely, agribusiness, refined and specialty oils, milling, sugar and bioenergy, and plant proteins. The refined and specialty oils segment comprises businesses that sell vegetable oils and fats, including oils shortenings, margarine, mayonnaise, and specialty ingredients. The company offers coconut oil under the refined and specialty oils segment. Bunge Limited has more than 300 port terminals, oilseeds processing plants, grain facilities, and food and ingredient production and packaging facilities around the world.

 

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Today Asia Pacific’s is the world’s leading producer of coconut oil, with European coconut oil being exported to all corners of the globe. The Asia Pacific accounted for the majority of the market share in the global market, in 2021. The Asia-Pacific starch industry has a range of coconut oil offerings, ranging from native to organic oil mixtures. The versatility of coconut oil enables their application as ingredients and functional supplements in the food, non-food, and pharma industries.

Modified Starch Market Growth by Emerging Trends, Analysis, & Forecast

The global modified starch market is estimated to be valued at USD 13.7 billion in 2022. It is projected to reach USD 15.9 billion by 2027, recording a CAGR of 3.1% during the forecast period. Modified starches are manufactured from native starches. Various processing methods such as physical, enzymatic, wet & dry chemical processes, drum drying, and extrusion are used to produce different types of modified starch products. These processes are used to change the properties of native starch, such as its freeze-thaw stability, acid or alkali resistance, and shear stability to meet industrial requirements. Modified starches are used for functions such as thickening, stabilizing, binding, and emulsification. Apart from food products, it is also used in a wide range of non-food applications and the animal feed industry.

 

 

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Key players in this market include Tate & Lyle (UK), Archer Daniel Midlands Company (US), Ingredion Incorporated (US), and Avebe (Netherlands)

 

Tate & Lyle is engaged in the manufacturing and marketing of food and industrial ingredients. It operates through three business segments, namely products, food & beverage solutions, and sucralose. These three business units are sustained by globalized support services, innovation & commercial development, and global operation groups. It serves a broad range of applications in food & packages, animal feed, industrial, pharmaceuticals & personal care. Starch products are offered through its primary products business segment. The company has expanded its global presence by acquiring new facilities. It continuously upgrades its portfolio by launching new products. It also focuses on the geographical expansion of production facilities and sales centers in countries such as China and Japan. In March 2020 Tate & Lyle launched its new line of clean-label starches for freeze-thaw stability. The new range of products was named CLARIA EVERLAST. The new clean-label starches would provide superior shelf stability. They included cook-ups and instant starches made from corn and tapioca starch.

 

Archer Daniel Midlands Company (ADM) is primarily engaged in the food processing and trading of commodities. It is one of the key players in the agricultural processing and food ingredient industry sectors. The company is involved in the trade, transportation, storage, and processing of a wide range of grains and commodities such as corn, oilseeds, wheat, and cocoa. It offers a range of modified starches through its carbohydrate solutions business segment. The company’s network spans more than 140 countries around the world. It operates globally through 272 processing plants and more than 470 crop procurement facilities, where cereal grains and oilseeds are processed into products used in the food, beverage, nutraceutical, industrial, and animal feed markets. The company operates its business through several subsidiaries such as Golden Peanut Company LLC (US), ADM Milling (US), ADM do Brasil Ltda (Brazil), WILD Flavors, Inc. (US), and ADM Hamburg AG (Germany).

 

Ingredion Incorporated (formerly Corn Products International, Inc.) is one of the leading providers of ingredient solutions to the food, beverage, brewing, health & nutrition, personal care, animal nutrition, and pharmaceutical industries, including various industrial sectors. The company processes cereals & grains, such as corn, tapioca, wheat, and potatoes. The products are used in processed food applications as fat replacing, gelling, glazing, stabilizing, or texturizing agents. The company is the leading manufacturer of corn-based starches and sweeteners in South America.

 

Ingredion operates through its processing and manufacturing facilities across North America, South America, Asia Pacific, Europe, the Middle East, and Africa. The company has 43 manufacturing facilities and operates globally through its subsidiaries, which include Corn Products Germany GmbH (Germany), Corn Products Espana Holding LLC (Spain), National Starch & Chemical (Thailand) Ltd), Ingredion Singapore Pte. Ltd. (Singapore), Ingredion Mexico, S.A. de C.V. (Mexico), and CP Ingredients India Private Limited (India).

 

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In 2021, North America accounted for a market share of 21.6% in the global modified starch market. The North American modified starch market is completely driven by the US market. The US modified starch industry has witnessed technological advancement, which has increased its usage in various industries. In the US, modified starch is primarily used in canned soups and in blends where its thickening power is exploited, especially for fill viscosity. It is also used as a base for gelling agents in confections, for thickeners in products such as pastry and pie fillings, and in instant puddings. The growing trend of ready-to-eat meals and processed food is also driving the modified starch market in the region. Modified starch is frequently used in food applications due to its functional properties.

Fruit and Vegetable Processing Market Growth by Emerging Trends, Analysis, & Forecast

The fruit and vegetable processing market is estimated to account for nearly USD 8.7 billion in 2022 and is projected to reach a value of nearly USD 11.8 billion by 2027, growing at a CAGR of 6.4% from 2022. The demand for fruit and vegetable processing is increasing significantly, due to the increasing consumption of processed fruit and vegetable products in developing countries such as China, India, South Africa, and Brazil.

 

 

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Key players in this market include GEA Group (Germany), Alfa Laval (Sweden), JBT Corporation (US), Heat & Control Inc. (Sweden), Krones AG (Germany), Bühler (Switzerland), Marel (Iceland), Bigtem Makine A.S. (Turkey), Fenco Food Machinery S.R.L (Italy), Anko Food Machine co., Ltd (Taiwan), Syntegon Technology GmbH (Germany) and Finis (US).

 

The companies are focusing on offering a diverse range of fruit and vegetable processing equipment technologies that comply with government regulations and policies across regions. For example, Gea has extended homogenizer range with GEA Ariete Homogenizer 3160 for food industry. GEA Ariete Homogenizer 3160, It features up to 1500 bar, with significantly increased flow rate capacity between 200 and 1200 bar. Additionally March 2021, Buhler has introduced CHRONOS OML-1060 fully automated machine, it a automated solution for food & feed industries.

 

GEA Group is one of the leading technology suppliers for the food processing industry. The company provides customized solutions in food, dairy processing, dairy farming, beverage processing, pharma, chemical, marine, leisure & sport, land-based transportation, and utilities. The company’s international level industrial technology specializes in machinery and plants as well as process technology, components, and comprehensive services. The company operates through five segments, namely separation & flow technologies, liquid & powder technologies, food & healthcare technologies, refrigeration technologies, and farm technologies.

 

The company has its presence in more than fifty countries across the globe, spanning North America, South America, Europe, Africa, and Asia Pacific. The group operates through its subsidiaries, which include GEA Procomac S.p.A (Italy), GEA Process Engineering Private Limited (India), GEA Food Solutions Brasil Comércio de Equipments Ltd (Brazil), GEA Food Solutions North America, Inc. (US), and GEA Food Solutions UK & Ireland Limited (UK).

 

Bühler is primarily engaged in providing industrial solutions for processed food, commodity food, die casting, renewable energy, and feed. Bühler operates through four business segments—grains & food, consumer foods, advanced materials, and corporate functions. The company, through its subsidiaries, manufactures and markets food and chemical processing, die casting, and material handling machinery. It offers products for various industrial applications, such as cleaning, optical sorting, milling, grinding, sifting & grading, mixing, wet grinding, extrusion & dough preparations, and ingredient handling.

 

The company’s core technologies are in the areas of mechanical and thermal process engineering. Bühler also offers industrial services, such as machinery repair, strategic consulting, process plant optimization services, energy consulting, and manufacturing & logistics services. The company has its presence in 140 countries around the world, including North America and Europe.

 

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The Asia Pacific is estimated to account for the largest market share in the processed fruits & vegetables market in 2022. The fruit & vegetable processing industry in developing economies such as Asia Pacific and South American countries has developed due to factors such increasing number of working women and middle-class population, bulk production of various agricultural products, and government subsidies in countries such as India, coupled with trade liberation.

Agricultural Sprayers Market to Showcase Continued Growth in the Coming Years

The global agricultural sprayers market is estimated at USD 2.5 billion in 2022. It is projected to reach USD 3.5 billion by 2027, recording a CAGR of 6.8% during the forecast period. Due to significant advancements in farming and spraying technology, the market for agricultural sprayers is growing. Sprayers are becoming more common in developing economies like China, Russia, and Brazil for crop protection. Farm operators now depend on sprayers to apply insecticides, herbicides, and fertilizers in the field pre and post-harvest as needed. Farmers can apply chemicals more precisely and efficiently due to the technological developments in agricultural sprayers.

 

 

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The Agricultural sprayers market consists of a few globally established players such as John Deere (US), CNH Industrial NV (UK), Kubota Corporation (Japan), Mahindra & Mahindra Ltd (India), STIHL AG (Germany), AGCO Corporation (US), YAMAHA Motor Corporation (Japan), Bucher Industries AG (Switzerland), DJI (China), Exel Industries (France), Amazonen Werke (Germany), B group Spa (Italy), Case IH (US), HD Hudson Manufacturing Co (US), and Buhler Industries Inc (Canada). Strategic partnerships were the dominant strategy adopted by the key players, followed by expansions and new product launches. These strategies have helped them to increase their presence in different regions and industrial segments.

 

John Deere is one of the leaders in the field of agricultural products since the introduction of automatic guidance equipment and yield monitors in the late 1990s. It manufactures equipment for agricultural, construction, turf, and forestry industries. The company’s financial services, machinery parts services, power systems, and the intelligent solution group businesses support and differentiate its equipment business. The agricultural product portfolio of the company consists of tractors, sprayers, mowers, loaders, shredders & cutters, scrapers, and precision agricultural technology. Agricultural variable-rate technology is offered as a part of the precision agriculture segment. The main subsidiaries of the company are Gan-Gvat Assets Ltd. (Israel), John Deere GmbH (Germany), Jenco Wholesale Nurseries Inc. (US), John Deere S.A. (Mexico), and John Deere Agricultural Machinery Co. Ltd. (China). The majority of John Deere’s business is concentrated in the North American countries of the US and Canada. Europe, Russia, India, Brazil, and China are the other key markets of the company.

 

CNH Industrial NV is among the global leaders in the manufacturing, designing, marketing, selling, and funding of farm machineries across the globe. The company has 12 brands that cater to agricultural and construction industries. The company has presence around 180 plus countries across the globe alongwith 49 research and development centers, and 64 manufacturing facilities. CNH Industrial NV specializes in offering speciality vehicles for firefighting, as well as defense. The agricultural equipment segment of CNH industrial offers farm machinery and tools such as self-propelled sprayers, material handling equipment, two-wheel and four-wheel drive tractors, harvesters, planting & seeding equipment, hay & forage equipment, and soil preparation & cultivation implements. This equipment is marketed and manufactured under the New Holland Agriculture brands, Case IH Agriculture, and Steyr brands. As far as agricultural sprayer is conserved, it is marketed under the banner of Case IH Agriculture.

 

Kubota Corporation is a global manufacturing company specializing in farm & industrial machinery and water & environment products, with a corporate presence in more than 100 countries. The company has segmented its product line as follows: agriculture, water, and lifestyle. The agriculture unit of the company manufactures tractors, harvesters & transplanters, mowers, balers, cultivation, spreading, and seeding equipment, and other agricultural machinery & implements. The company serves its agricultural sprayers through its acquired company, Kverneland Group, with the Kverneland brand name. This company was acquired in May 2012. Kubota Corporation’s plants, factories, and business centers are majorly located in Japan. The company has a wide geographical coverage through group companies located in North America, Asia & Oceania, and Europe. Kubota Tractor Corporation (US), Great Plains Manufacturing, Inc. (US), Kubota Canada Ltd. (Canada), Kubota Korea Co., Ltd. (South Korea), Kubota China Holdings Co., Ltd. (China), and Kubota Europe S.A.S. (France) are some of the subsidiaries of Kubota Corporation.

 

Mahindra & Mahindra Ltd. is engaged in the business of farm equipment and automotive. It is one of the leading players in the manufacturing and marketing of tractors, utility vehicles personal & commercial vehicles, application, and light trucks, among others. The company has a strong presence in agribusiness, components, aerospace, consulting services, energy, and industrial equipment. The company’s farm equipment and agri-business are the largest contributors to the Mahindra Group, which includes 27 businesses, 18 subsidiaries, and nine companies. Other than the equipment segment, it is also engaged in an end-to-end agriculture value chain by providing fertilization, irrigation, seeds, and varied agriculture, and allied businesses.

 

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India, Australia, Japan, and other nations in the Asia-Pacific region are traditional agricultural countries. Traditional agriculture relied primarily on human labor and draught animals. The majority of modern agricultural operations depends on machinery, particularly fast, potent tractors, combines, and implements. Tractors with mounted and trailed implements such as sprayers allow the mechanization of many agricultural operations. Due to the increasing average farm size, larger, more upgraded sprayers are being used to meet farm needs rather than older, less efficient ones. This will drive market growth in the Asia-Pacific region during the forecasted period.

Textured Vegetable Protein Market to Showcase Continued Growth in the Coming Years

The global textured vegetable protein market is estimated to be valued at USD 1.4 billion in 2022. It is projected to reach USD 1.9 billion by 2027, recording a CAGR of 6.9% during the forecast period. The textured vegetable protein market is witnessing significant growth in the current market scenario for alternative proteins. The changing consumer preference and interest in vegetable protein sources due to its nutritional profile, inclination toward clean eating, rise in health and environmental concerns, and animal welfare have led to the growth of plant-based meat and ingredients, which include textured vegetable proteins obtained from soy, wheat, and pea.

 

 

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The key players in this market include ADM (US), Roquette Frères (France), Ingredion (US), DuPont (US), The Scoular Company (US), Beneo (Germany), Cargill, Incorporated (US), MGP (US), Shandong Yuxin Biotechnology Co. Ltd. (China), Axiom Foods, Inc., (US), PURIS (US), Kansas Protein Foods (US), and DSM (Netherlands).

 

ADM is one of the global leaders in the nutrition segment. The company has pioneered textured vegetable protein innovation for over 75 years and accounts for one of the largest soybean processors in the world. The company operates through four major business segments: Ag service and oil seeds, carbohydrate solutions, nutrition, and other business. It offers textured vegetable protein under the nutrition segment, mainly used in food applications, such as alternate meat products, snacks, stew, and dairy alternatives. ADM is among the key innovators in the texturized vegetable protein market, pioneering in developing textured soy protein using defatted soy flour.

 

ADM operates through processing and manufacturing facilities across the US and worldwide. It competes with the world’s leading textured vegetable protein manufacturers, such as Ingredion (US) and Cargill, Incorporated (US). ADM operates through processing and manufacturing facilities across the US and worldwide. Its network spans more than 200 countries. In September 2020 ADM launched Arcon T textured pea proteins, Prolite MeatTEX textured wheat protein. These highly functional protein solutions improve the texture and density of meat alternatives. Hence, by expanding its product portfolio company can cater demand of meat-like texture protein.

 

Cargill, Incorporated is a global conglomerate catering to the demand in various industries. The company comprises 75 businesses classified into four key segments: agriculture, food, financial services, and industrial products. It offers its plant protein products under its food segment to meet the demand for food ingredients. The company has been primarily focusing on accelerating growth in markets, such as global protein, specialty ingredients, and health & nutrition products, due to the rising demand among consumers. It has been focusing on providing similar flavor and textured substitutes for conventional food products and innovations in textured vegetable protein.

 

The company operates in around 70 countries. It has an additional sales presence in nearly 125 countries across North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa. In May 2022 Cargill constructed a new soybean processing plant in Southeast Missouri. This development will help the company meet the expanding domestic and global demand for oilseeds, which is being driven by the food, feed, and fuel markets.

 

Roquette Frères is a privately held company that produces and markets food ingredients. It processes raw materials, such as corn, wheat, potatoes, and peas, into various ingredients for different food and non-food applications. Roquette Frères’ products find applications as ingredients in the food, pharmaceutical, paper, corrugated board, fermentation, chemistry, and industrial applications. The products offered by the company can be broadly divided into starch-based products, sugars & dietary fibers, polyols & fine chemistry products, proteins & their derivatives, fibers, oils & soluble products, cereal sugars, beta cyclodextrins, and bioethanol. The company provides textured vegetable proteins under its human food & nutrition segment. NUTRALYS textured vegetable protein, which is derived from various sources, such as pea, wheat, finds applications in dairy and meat alternatives and performance nutrition.

 

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The North American region hosts a substantial production base for textured vegetable protein processing. Major ingredient manufacturers, such as DuPont (US), ADM (US), Cargill (US), and CHS (US), have been bolstering their product development capabilities to offer meat alternatives as per the changing consumer preferences in the region. Canada has been the largest producer of peas for textured pea protein processing with the presence of multiple existing and upcoming processing units in Manitoba. According to a study published by the Government of Canada in 2019, Canada estimates a surge of 30% in pea production up to 4.7 MT by 2020 in the region. On the other hand, the US is a key producer of soybeans and wheat in the region.

Glucose, Dextrose, and Maltodextrin Market Growth by Emerging Trends, Analysis, & Forecast

The glucose, dextrose, and maltodextrin market is projected to reach USD 51.87 billion by 2024, at a CAGR of 7.0% from 2018, in terms of value. The market for glucose, dextrose, and maltodextrin is driven by the increase in demand from the beverage industry, intense research & development activities, and an increase in demand for convenience foods. The demand for glucose, dextrose, and maltodextrin in the food & beverages segment, is expected to witness significant growth in the near future, as major food & beverage companies are expected to increase the application of glucose, dextrose, and maltodextrin due to their multiple benefits, including their role as sweeteners, binders, emulsifiers, and thickening agents. However, growth in demand for gums as an alternative to glucose, dextrose, and maltodextrin restrains the market growth.

 

 

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Starch derivatives are produced by enzymatically, physically, and organically altering the characteristics of native starch. Glucose, dextrose, and maltodextrin are among the major starch derivatives used. Glucose is a sweetener used in a range of food products. It is produced from the hydrolysis of starch. Dextrose is a dextrorotatory form of glucose. It is used in baking products such as cake blends and toppings, snack food items such as cookies, and desserts such as custards and sherbets. Maltodextrin is a moderately sweet or flavorless sugar, which is easily digestible, and is absorbed as rapidly as glucose.

 

They perform numerous functions and hence find application in various industries. They act as thickening agents and stabilizers in the food & beverage industry. They act as key ingredients in the pharmaceutical industry by performing the function of a binder in the production of tablets. These are also used as emulsifiers in the personal care & cosmetics industry.

 

The glucose, dextrose, and maltodextrin market include players such as ADM (US), Ingredion (US), AGRANA (Austria), Tate & Lyle (UK), Cargill (US), ROQUETTE (France), Grain Processing Corporation (US), Avebe Group (Netherlands), Tereos (France), Global Sweeteners Holdings (Hong Kong), Gulshan Polyols (India), and Fooding Group Limited (China).

 

The market is concentrated with key players adopting expansions & investments, new product launches, acquisitions, and joint ventures, partnerships, and agreements with other players to strengthen their business, explore new & untapped markets, expand in local areas of emerging markets, and develop a new customer base for long-term client relationships.

 

Cargill manufactures and markets food, agricultural, financial, and industrial products & services. The company’s key business segments include animal nutrition & protein, food ingredients & applications, origination & processing, and industrial & financial services. It offers nutrition expertise and feeding solutions to help optimize animal production operations. It also offers numerous functional food ingredients and starch derivatives majorly to the food & beverages and personal care industries. Its core competencies lie in supply chain management, risk management, and research & development.

 

The company has subsidiaries in 70 countries. It has R&D centers in Europe and North America, and provides services in Africa, Europe, Asia, South America, North America, and the Middle East; this enables it to have a significant global market presence.

Cargill’s strategy is directed toward becoming a key supplier in the global starch market through expansions. In line with this strategy, the company focuses on bringing new innovations to its starch product portfolio as well as the expansion of its production scale and geographic operations in high-growth markets through acquisitions. In October 2017, launched functional native starches under its new SimPure brand to meet the demand of its customers for label-friendly products of favorable taste and texture.

 

Archer Daniels Midland Company (ADM) is primarily engaged in the production of food ingredients, animal feed & feed ingredients, biofuels, and naturally derived alternatives to industrial chemicals. The company functions through four segments, namely, oilseed processing, corn processing, WILD Flavors & Specialty Ingredients, and agricultural services. It is a leading manufacturer of protein meal, vegetable oil, corn sweeteners, flour, biodiesel, ethanol, and other value-added food & feed ingredients. The corn processing segment is engaged in corn wet milling and dry milling activities, converting corn into sweeteners, starches, and bio-products. The sweeteners and starch category comprise corn syrups, dextrose, and maltodextrin required in food. ADM has its presence in North America, Europe, the Middle East, Africa, and Asia Pacific, which contributes to its core competency of having a global infrastructure.

 

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The key strategy adopted by ADM is innovation, through which merges its business with other food processing companies and expands its business geographically in the starch industry. For instance, in March 2018, the company entered into an agreement to acquire a 50% equity stake in the sweeteners and starches business of Aston Foods (Russia), to expand its food & beverage segment in Russia.

Agricultural Testing Market to Showcase Continued Growth in the Coming Years

The global 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%. The market is driven by stringent safety and quality regulations for agricultural commodities, and rapid industrialization leading to the disposal of untreated industrial waste into the environment.

 

 

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Key players in the agricultural testing market include SGS (Switzerland), Intertek (UK), Eurofins (Luxembourg), Bureau Veritas (France), ALS Limited (Australia), and TÜV NORD GROUP (Germany). Furthermore, Mérieux (US), AsureQuality (New Zealand), RJ Hill Laboratories (New Zealand), SCS Global (US), Agrifood Technology (Australia), and Apal Agricultural Laboratory (Australia) are the other players that hold a significant share in the agricultural testing market.

 

SGS is one of the active players in the agricultural testing market; it is involved in inspection, verification, testing, certification, and quality assurance services. The company has a range of agricultural testing offerings for various samples such as soil, water, and seed. It has R&D centers and adopts new techniques as per technology advancements. The company has become a renowned brand in the industry for its quality and client base. It focuses on strategic acquisitions and expansions to increase its capacity and strengthen its business network.

 

Eurofins Scientific is an international group of laboratories that provide testing and support services to the pharmaceutical, food, agricultural, environmental, and consumer products industries, as well as to governments. Its strong infrastructure helps it cope during peak periods of testing demand from clients. The major strengths of the company are its widespread global network and its testing services of superior technical quality and regulatory thoroughness. The company continues to generate significant growth by way of constant acquisitions. In January 2018, Eurofins acquired Tsing Hua Testing & Analysis Co., Ltd. (Vietnam), a leading player in environmental and agricultural testing market for water and soil. With this acquisition, the company expanded its reach in Vietnam.

 

Intertek is a provider of quality and safety services. It serves manufacturers, retailers, governments, and traders across various industries, globally. The company has a global network of over 1,000 laboratories, including 20 high-tech food testing laboratories in Germany, Great Britain, and Shanghai, and testing facilities in Beijing, India, Vietnam, and the Philippines. It focuses on expansions as its key strategy to develop networks. In November 2017, Intertek expanded its agricultural testing laboratory in New Orleans (US) and upgraded its equipment in order to enhance its agricultural testing services in the US.

 

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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.