Agricultural Testing Market: Drivers, Restraints, Opportunities, and Challenges

27/feb/2019 10:19:53 MarketsandMarkets Contatta l'autore

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The agricultural testing market is estimated to be valued at USD 4.56 Billion in 2017, and is projected to reach USD 6.29 Billion by 2022, at a CAGR of 6.64% during the forecast period. The market is driven by the global increase in outbreaks of foodborne illnesses, the implementation of stringent safety and quality regulations for agricultural commodities and food in developed economies, and rapid industrialization leading to the disposal of untreated industrial waste into the environment.

The periodization considered for the study is as follows:

  • Base year: 2016
  • Forecast period: 2017 to 2022

The objectives of the report

  • Determining and projecting the size of the agricultural testing market with respect to sample, application, technology, and regional markets, over a five-year period ranging from 2017 to 2022
  • Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
  • Analyzing the further segments and sub-segments of the global agricultural testing market included in the report with respect to individual growth trends, future prospects, and their contribution to the global market
  • Identifying and profiling the key market players in the agricultural testing market
  • Determining the market ranking of the key players operating in the agricultural testing market
  • Providing a comparative analysis of the market leaders on the basis of the following:
    • Service offerings
    • Business strategies
    • Strengths and weaknesses
    • Key financials
  • Understanding the competitive landscape and identifying the major growth strategies adopted by the players across the key regions
  • Analyzing the market dynamics and competitive situations & trends across regions and their impact on prominent market players

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Soil segment is estimated to be the largest in 2017

The agricultural testing market, by sample, is estimated to be dominated by the soil segment, since soil testing helps to determine the fertility or the expected enhancement of the soil, which indicates nutrient deficiencies, potential toxicities from excessive fertility, and inhibitions due to the presence of non-essential trace minerals.

Quality assurance segment set to dominate the market by2022

The agricultural testing market, by application, is projected to be dominated by the quality assurance segment during the forecast period. Increase in requirements for the quality of agrarian products in the world can be attributed to the export-oriented agricultural food sector as well as the need for implementing modern mechanisms of quality assurance, witnessed due to globalization.

Rapid technology segment is projected to be the fastest-growing market during the forecast period

The rapid technology segment is estimated to dominate the market for agricultural testing in 2017, and is also projected to be the fastest-growing from 2017 to 2022. Low turnaround time, higher accuracy & sensitivity, and the capacity to test a wide range of contaminants compared to the conventional technology are the factors driving the market for rapid technology.

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Asia Pacific is projected to be the fastest-growing market during the forecast period

The Asia Pacific market is projected to grow at the highest CAGR from 2017 to 2022. Major growth drivers of the region include increased adoption of advanced biotechnological methods and organic farming resulting in the need for agricultural testing, and an increase in the number of exports from the region, necessitating agricultural testing for the produce.

This report includes a study of marketing and development strategies, along with the services & product portfolios of leading companies. It includes the profiles of leading service companies such as SGS (Switzerland), Intertek (UK), Eurofins (Luxembourg), Bureau Veritas (France), ALS Limited (Australia), and TÜV NORD GROUP (Germany). It also includes profiles other players that also have significant share in this market such as Mérieux (US), AsureQuality (New Zealand), RJ Hill Laboratories (New Zealand), SCS Global (US), Agrifood Technology (Australia), and Apal Agricultural Laboratory (Australia).

Target Audience:

The stakeholders for the report are as follows:

  • Agricultural & farming industry
  • Farmers
  • R&D institutes & laboratories
  • Agricultural testing service providers and third-party testing & certification laboratories
  • Regulatory bodies
    • The Food and Drug Administration (FDA), the European Food Safety Authority (EFSA), Food Standards Australia New Zealand (FSANZ), the Food Safety Commission of Japan, the Agri-Food & Veterinary Authority of Singapore (AVA) (Singapore), and the Canadian Food Inspection Agency
    • Government agencies and NGOs
  • Component suppliers
    • Reagent manufacturers & suppliers
    • Diagnostic instrument & kit manufacturers/suppliers
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