The Global Agricultural Testing Services Market is expected to generate an absolute monetary opportunity of more than US$ 3 billion through 2033. Sales of agricultural testing services are expected to reach US$ 5.1 billion by 2023, with a CAGR of roughly 7.5% projected from 2023 to 2033.
The demand for agricultural testing services is predicted to exceed US$ 10.6 billion by the end of 2033, owing to the increasing inclusion of new technology for soil and fertilizer assessment.
Numerous evaluation processes are used in agricultural testing services to determine the integrity and contaminant content of samples including soil, water, fertilizers, seeds, and others. Further, these testing services aid in the examination of soil fertility, nutrients, and other acceptable inputs required for crop growth.
In recent years, there has been a significant increase in the world population, an increase in the introduction of innovative food products, and an increase in the consumption of fruits, vegetables, legumes, and other foods. As a result, governments in several nations are progressively implementing a variety of projects aimed at raising the creation of high-quality crops and improving agricultural productivity to meet rising food demand.
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According to FMI, North America is expected to have a significant growth in the worldwide agricultural testing services market between 2023 and 2033. Across North America, multiple governmental and environmental protection groups are implementing severe laws aimed at increasing agricultural productivity and environmental safety, creating a high need for assessment solutions.
Key Takeaways
- The market expanded at a CAGR of 6% during the last five years.
- In 2022, North America held a 35% market share.
- In 2022, the United States captured 25% market share.
- India’s market is predicted to expand at a CAGR of 7%.
- China’s market is expected to increase at a 7.3% CAGR.
Competitive Landscape
- In February 2023, Hill Laboratories established a cooperative agreement with Merieux Nutrisciences. The Hill Laboratories team might collaborate with the Mérieux NutriSciences team of professionals to provide New Zealand food industry with comprehensive food safety testing and inspection solutions.
- In November 2022, SCS Global Services launched its most recent plant-based accrediting scheme. This program has an ANSI-accredited standards development organization that distinguishes plant-based products based on severe auditing, assessment, and labeling norms.
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Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global agricultural testing services market presenting a historical analysis from 2018 to 2022 and forecast statistics between 2023 and 2033.
The study reveals essential insights By Service Type (Soil Testing Service, Seed Testing Service, Water Testing Service, Fertilizer Testing Service), By Analysis Type (Physical Analysis, Chemical Analysis), By End User (Farmers, Agriculture Consultant, Fertilizers Manufacturers, Research Bodies) & Region.
Key Segments in the Agricultural Testing Services Market
By Service Type:
- Soil Testing Service
- Seed Testing Service
- Water Testing Service
- Fertilizer Testing Service
By Analysis Type:
- Physical Analysis
- Chemical Analysis
By End User:
- Farmers
- Agriculture Consultant
- Fertilizers Manufacturers
- Research Bodies
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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