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Agricultural Testing Market worth $5,641.56 Million by 2020
The report, “Agricultural Testing Market by Sample (Soil, Water, Manure, Compost, Bio-solids, Seeds and Others), Application Type (Contaminants and Quality Assurance) & Region - Global Trends & Forecast to 2020”, analyzes the testing of agricultural samples, which are segmented based on the type, application, and region. The agricultural testing market, based on sample type, includes soil, water, manure, compost, bio-solids, seed, and others. The agricultural testing market, based on application, is segmented into contaminants and quality assurance. It also identifies the driving and restraining factors of the market with analyses of opportunities, burning issues, and challenges. The market has been segmented on the basis of the key regions North America, Europe, Asia-Pacific, and Rest of the World (RoW) along with a value projection. The size of the markets in the key countries has also been covered and projected for each region.
Browse 69 market data tables and 62 figures spread through 157 pages and in-depth TOC on “Agricultural Testing Market by Sample (Soil, Water, Manure, Compost, Bio-solids, Seeds and Others), Application Type (Contaminants and Quality Assurance) & Region - Global Trends & Forecast to 2020"
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The agricultural testing market was valued at $3,997.40 Million in 2014; it is projected to reach $5,641.56 Million by 2020, at a CAGR of 5.9% from 2015 to 2020. The U.S. dominated the agricultural testing market in 2014, followed by Canada. The market is driven by factors such as rules and regulations laid by governments for the development of agriculture and the growing agricultural exports from all global countries. The high growth potential in developing markets and advanced technology provides new growth opportunities for market players. Lack of basic supporting infrastructure and lack of awareness among farmers regarding agricultural testing in some areas are the major factors restraining the growth of the market. The absence of suitable quality assurance systems in laboratories is proving to be a major challenge for industry players in this market.
The global agricultural testing market is segmented on the basis of types of testing available by various laboratories in the world; i.e. sample and application types. Sample types include various testing services for agriculture products such as soil, water, compost, seed, manure, biosolids and others. Similarly, application types are involved into testing contaminants and quality assurance. Soil testing in agricultural testing dominates the market and accounted for a share of about 21% in 2013.
The agricultural testing market is highly fragmented with key market players driving the growth with agreements, expansions, acquisitions, and investments to develop its position in the agricultural testing market. The market is competitive with leading players being involved in the research & development of various agricultural testing methods to bring sustainability. The key players in this market are SGS S.A. (Switzerland), Eurofins Scientific (Luxembourg), RJ Hill Laboratories Ltd. (New Zealand), Bureau Veritas S.A. (France), and Intertek Group Plc. (U.K.). The market caters to applications such as agriculture, landscape, and greenhouses.
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