The global agricultural testing market is poised to witness a CAGR of 6.1% during the forecast period (2021-2026). The COVID-19 impact on the soil testing market is likely to be for the short term, and the market is anticipated to witness robust recovery with higher demand for agricultural products which results in increased production thereby creating a need for periodical soil testing. Similarly, the shift in consumer preference to a higher standard of food safety and quality in terms of chemical residues creates the need to maintain the soil properties for quality production thereby bolstering the market growth during the forecast period.
Since, the dominance of quality assurance in agricultural testing is attributable to the fact that it aids in resolving major problems related to soil fertility, available water quality for irrigational facilities, and identifying required nutrients essential for more robust growth and development of crops and other agricultural produce, this market is very lightly impacted by the prevailing pandemic across the globe. 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.
Key Market Trends
Regulations and Legislation Pertaining to Agriculture and Environmental Safety
The agricultural testing market is a high growth sector as it is becoming highly popular in developed and commercialized regions. Regulations and legalizations about environmental safety and agricultural productivity have been the major driving factor for the market growth of this sophisticated segment. Sample testing has become increasingly popular in commercialized agriculture countries to maintain the export growth of agricultural commodities. Growing complexities in the supply chain, lack of adoption of good agricultural practices (GAP), and absence of proper hygiene & sanitation practices have resulted in increasing instances of contamination of food, feed, and agricultural products at the beginning of the supply chain, which is responsible for large-scale outbreaks of illnesses and poisoning in both humans and livestock. This has caused severe concerns among farmers, livestock producers, end consumers, regulatory authorities, and other industry stakeholders. Hence the aforementioned factors have created the need to address various issues and challenges across the agricultural supply chain thereby resulting in the increased market potential for the agricultural testing products.
Europe Dominates the Market
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. Given the high growth, industrialized agriculture sector, the region dominates the market for agricultural testing, both regionally and globally. With the development of greenhouse and indoor farming in the region, these commercial cultivation methods are also using different media other than soil, such as peat to grow their plants. For such micro-controlled environments, the saturated media extract (SME) method can be used to analyze the major nutrient content present in the media used.
The global agricultural testing market is fragmented with numerous government-operated laboratories providing various agricultural testing services to the farmer across the globe. In the agricultural testing market, companies are not only competing based on equipment quality and promotion but are also focused on strategic moves to hold larger market shares. New services, partnerships, and acquisitions are the major strategies adopted by the leading companies in the market, globally.
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