Agriculture Testing Services to represent a significant expansion at 6% CAGR by 2028
VALLEY COTTAGE, N.Y. – Agriculture testing services conduct various types of testing such as that of water, soil, seeds, food, fertilizers, and other testing services to inspect and determine their quality parameters. The increasing demand for agriculture testing services across the globe to maintain the quality standards and to maximise agriculture production is boosting the market growth significantly. The agriculture testing services market is segmented on the basis of sample type, by service type, by end user, and by region.
On the basis of sample type, the agriculture testing services market has been segmented into water, soil, seed, water, fertilizer, food, and others. On the basis of service type, the agriculture testing service market has been segmented into on-site and off-site agriculture testing services. On the basis of end users, the agriculture testing services market has been segmented into farmers, agricultural consultants, fertiliser manufacturers, research bodies, and others. On the basis of region, the agriculture testing services market has been segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa and Emerging Countries.
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Rapidly increasing global population and urbanisation are some of the major concerns across the globe. Increasing population creates a burden on the agriculture industry to maximise the overall yield production. Continuous focus on the maximisation of yield production also requires a larger quantity of agriculture products such as fertilizers, seeds, and others. The increasing demand for the quality inspection of these agriculture products to generate the maximum yield is ultimately boosting the agriculture testing service market.Key Players Focused on Expansion in Lucrative Asian Markets
Regions such as North America, Europe, and East & South Asia are among the key regions in which the agriculture industry is growing rapidly. Prominent manufacturers are continuously focusing on these regions to capture a significant market share in terms of revenue. Agriculture testing service providers provide various types of testing services such as soil testing, food testing, water testing, seed testing, fertiliser testing, and other testing services in these regions. The presence of an adequate number of key agriculture service providers and the frequent requirement of agriculture testing services in these regions is fuelling the growth of the agriculture testing service market. These key agriculture testing service providers firmly believe in acquisitions and expansion strategies to expand their global footprints.
- For instance, Eurofins, one of the prominent agriculture testing service providers, announced the acquisition of Laboratoire de Bromatologie de l’Ouest (LBO) to extend its network of food testing laboratories in France on May 23, 2018
- The company also strengthened its footprint in France by acquiring Protec Group to expand its food and water testing activities
- ALS Limited, another agriculture testing service provider, acquired the Mikrolab Group in Sweden on October 3, 2017. The Mikrolab Group provides pharmaceutical, environmental, and food testing to a wide range of clients
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On the basis of geography, North America and Europe are anticipated to capture a substantial market share in terms of value in the agriculture testing services market due to the presence of an adequate number of service providers in these regions. Moreover, the rapidly growing crop production and the need for the quality testing of these crops in the above-mentioned regions are among factors that are considerably driving the agriculture testing service market. In Latin America, there is growing demand for agriculture testing services due to the increasing consumption of fertilisers. Increasing agriculture production in the South and East Asia, along with the quality testing of agriculture products, is fuelling the growth of the agriculture testing service market.
The report tracks some of the key companies operating in the market, such as –
- BUREAU VERITAS
- Intertek Group plc
- Eurofins Scientific
- SGS SA
- A&L Great Lakes.
- Agri-Labs Inc.
- Polytest Laboratories
- Waters Agricultural Laboratories Inc.
- J. K. ANALYTICAL LABORATORY & RESEARCH CENTRE
- Lilaba Analytical Laboratories
- Kinsey Ag Services
- TÜV NORD GROUP
- Akshar Analytical Laboratory & Research Center
- AGQ Labs USA
- Interstellar Testing Center Pvt. Ltd.
SGS SA, BUREAU VERITAS, Intertek Group plc, and Eurofins Scientific are estimated to capture a prominent share of the agriculture testing service market. These tier 1 companies hold a share of approximately ~ 50 % of the agriculture testing service market.
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