by Market Overview:
Agricultural testing includes soil testing, water testing, seed testing, compositional analysis of feed & food and other services. Agricultural testing helps farmers obtain necessary nutrients for optimal plant growth and maximize crop yield. It also ensures food and feed safety.
Market key trends:
One of the key trends in the agricultural testing market is increasing testing of genetically modified (GM) crops. GM crops require rigorous testing to assure their safety for human and animal consumption as well as their impact on the environment. The tests determine the presence of approved GM traits, protein expression levels, gene silencing and their unintended effects. Growing cultivation of GM crops worldwide is augmenting the demand for GM trait testing services.
The global Agricultural Testing Market Demand is estimated to be valued at US$ 6.1 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The agricultural testing market has been witnessing rising demand for pesticide residue testing services. Strict regulations around the world have limited the use of certain pesticides and have mandated regular testing of food products for pesticide residues. This is driving the need for frequent testing services among food crop farmers and food product manufacturers. Another key trend is the increased adoption of rapid testing kits and portable instruments. Handheld and portable devices enable quick on-field screening of samples which allows farmers to take immediate corrective actions if needed.
SWOT Analysis
Strength: Presence of accredited and experienced laboratory networks of top players offering reliable test results.
Weakness: High capital requirement for setting up sophisticated testing facilities.
Opportunity: Growth in demand for testing of GMO crops and development of new tools for biotech tracing.
Threats: Potential relaxations in regulatory standards pertaining to pesticide residues can reduce testing needs.
Key Takeaways
The global Agricultural Testing Market is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing regulatory focus on food safety. The market size for 2023 is US$ 6.1 Bn.
Regional analysis: North America dominates the market currently owing to stringent quality and safety norms implemented by regulatory bodies such as EPA and FDA. Asia Pacific is expected to witness the fastest growth in the coming years led by countries such as India and China where agricultural production is massively increasing.
Key players operating in the 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
