by Agricultural testing helps farmers ensure soil quality is suitable for optimal plant growth and yield. It identifies deficiencies in soil that can be addressed with fertilizers or lime. Pesticide and toxin residues in food crops are also evaluated through agricultural testing to maintain food safety standards. Strict regulations regarding contaminants in crop harvests and livestock products have boosted demand for testing services. Agricultural testing laboratories analyze samples using techniques like chromatography, spectroscopy, microbiology culturing, and ELISA to detect unspecified substances, heavy metals, pesticides, GMOs, and microbiological contamination.
The global Agricultural Testing Market is estimated to be valued at US$ 7.03 Mn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the agricultural testing market is the increasing demand for rapid testing kits. Rapid on-site tests give immediate results for quality parameters, toxins, pathogens without the need for sophisticated laboratory equipment or highly skilled personnel. Handheld devices and test strips for mycotoxins, pesticide residues, heavy metals, and other contaminants enable quick decision making in field or during transportation. For example, companies like BioControl Systems Inc. offer portable mycotoxin test kits that provide quantitative results within 15 minutes. Rapid tests are especially crucial during outbreaks and emergencies to monitor supply chains. This enables seamless trade and timely corrective actions. Furthermore, biosensors and nanotechnology based assays are gaining traction due to properties like high sensitivity, selectivity and potential for miniaturization in portable detectors. These technologies will facilitate on-farm and in-field testing, further fueling the agricultural testing market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the agricultural testing industry has high initial capital investments and technical know how required which raises the entry barriers. However, the market size is increasing providing opportunities.
Bargaining power of buyers: The bargaining power of buyers is moderate since buyers have several alternatives and options to choose from. However, industry players provide customised services specific to crop and location.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are several raw material suppliers and alternatives available. Suppliers don’t have pricing control.
Threat of new substitutes: The threat of new substitutes is low as agricultural testing services are unique and substitutions are limited.
Competitive rivalry: The competition in the agricultural testing market is high among the key global players to gain market share.
Key Takeaways
The Global Agricultural Testing Market Size is expected to witness high growth over the forecast period.
Regional analysis: North America captured the largest market share in 2021, owing to the increasing demand for quality products and standardization of agricultural practices in the region. Asia Pacific is expected to witness fastest growth rate during the forecast period owing to growth in population and increasing awareness regarding quality of soil and produce in countries like India and China.
Key players: Key players operating in the Agricultural Testing Market are DEXIS (KaVo Kerr), Siemens Healthineers, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Neogen Corporation. DEXIS (KaVo Kerr) specializes in providing agricultural testing solutions for soil and water analysis. Siemens Healthineers provides microbial and chemical food safety testing solutions.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
