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 to 2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Agricultural testing involves the analysis and evaluation of various agriculture products and commodities to ensure their quality, safety, and compliance with regulatory standards. It plays a crucial role in the agricultural sector as it helps in detecting contaminants, residues, and pathogens in crops, soil, water, and fertilizers. Agricultural testing facilitates informed decision-making for farmers, food manufacturers, and regulatory bodies.
The need for agricultural testing arises from the rising concerns regarding food safety, environmental protection, and sustainable agriculture practices. With the increasing population, there is a growing demand for high-quality food products. Agricultural testing ensures that the food produced is safe for consumption and meets the quality standards, thereby building consumer trust.
B) Market Key Trends:
One key trend in the agricultural testing market is the increasing adoption of advanced technologies in testing procedures. Technological advancements such as rapid testing methods, DNA sequencing, and remote sensing are revolutionizing the agricultural testing industry. These technologies provide accurate and efficient results in shorter turnaround times, enabling faster decision-making for farmers and industry players.
For example, remote sensing technology allows the analysis of crop health, nutrient deficiencies, and pest infestations using drones or satellite imagery. This helps farmers to take timely corrective measures and optimize their agricultural practices. Similarly, rapid testing methods such as immunoassays and polymerase chain reaction (PCR) enable quick detection of contaminants in agricultural products, reducing the time required for traditional laboratory testing.
C) PEST Analysis:
– Political: Government regulations and standards regarding food safety and quality play a crucial role in shaping the agricultural testing market. Stringent regulations often necessitate testing protocols and certifications for agricultural products.
– Economic: Increasing global trade of agricultural commodities and the growing awareness of food safety among consumers drive the demand for agricultural testing services. The economic stability of countries also influences their investment in agricultural testing infrastructure.
– Social: Changing consumer preferences towards organic and non-GMO products create opportunities for agricultural testing to certify the authenticity of such products. Moreover, increasing concerns about pesticide residues and foodborne illnesses drive the demand for comprehensive testing.
– Technological: Advancements in technologies such as blockchain, IoT, and data analytics are transforming the agricultural testing landscape. These technologies enable traceability, transparency, and real-time monitoring of the entire food supply chain, ensuring quality and safety.
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 increasing demand for quality assurance in agriculture.
– North America is projected to dominate the market, driven by stringent regulatory standards and the presence of key market players. The Asia Pacific region is expected to witness the fastest growth due to the rising population, increasing focus on sustainable agriculture, and growing food export business.
– 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 are focusing on strategic collaborations, acquisitions, and product launches to strengthen their market position.
In conclusion, the global agricultural testing market is witnessing significant growth due to the increasing demand for quality assurance in agriculture. The adoption of advanced technologies, adherence to regulatory standards, and changing consumer preferences are driving the market. As the agricultural sector continues to evolve and face new challenges, agricultural testing will play a crucial role in ensuring safe and sustainable food production.
