The agricultural testing market involves testing of soil, seeds, water, tissues and other samples to ensure quality of agricultural produce and optimal growth conditions. Testing helps farmers determine nutrient deficiencies or toxic levels in soil and water and take corrective measures. It also screens seeds for diseases and pests and detects contaminants in food. Farmers extensively use analytical services to maintain soil health, maximize crop yields, and produce safe and high quality food.
The global agricultural testing market is estimated to be valued at US$ 6.1 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising demand for food due to global population growth is one of the key trends driving increased agricultural testing. Rapid urbanization and changing diets are also contributing to higher food demand, necessitating maximum agricultural outputs. Furthermore, regulatory focus on ensuring food safety is prompting more farmers to regularly test soil, water and crops for contaminants. Strict norms regarding pesticide residues, heavy metals and microbiological contamination in food are accelerating market growth. Technological advancements in testing techniques offer higher accuracy and faster results, encouraging greater adoption. Portable field testing kits now available for on-spot analysis are also boosting the agricultural testing market.
Threat of new entrants: The agricultural testing market has moderate threat of new entrants due to high research and development costs required to enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative offerings from different agricultural testing service providers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and differentiation in products and services offered.
Threat of new substitutes: Threat of substitution is moderate as switching costs are moderate for buyers in the agricultural testing market.
Competitive rivalry: The competitive rivalry in the agricultural testing market is high due to presence of large number of players offering similar products and services.
The Global Agricultural Testing Market Size is expected to witness high growth.
Regional analysis: North America dominates the global agricultural testing market currently owing to stringent safety and quality regulations for food and agricultural commodities in countries like US and Canada. Asia Pacific is expected to exhibit highest growth during the forecast period supported by increasing investments in R&D activities for development of advanced testing techniques in the region.
Key players: Key players operating in the agricultural testing market are Novartis AG, Mylan N.V., Astellas Pharma Inc., Dr. Reddy’s Laboratories Ltd., Pfizer Inc., Abbott, Senju Pharmaceutical Co. Ltd., Glenmark Pharmaceuticals Ltd., Lupin Limited, and Vibcare Pharma Pvt. Ltd. Novartis AG and Mylan N.V. are the leading players in the market.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it