Global agricultural testing market to grow at CAGR of 5.5% from 2014 to 2020

According to the report “Agricultural Testing Market - Global Trends & Forecast to 2020 ”, this market is estimated to grow with a CAGR of 5.5% from 2014 to 2020. The agricultural testing market for sample type is estimated to reach $5,641.56 million at a CAGR of 5.9% by 2020. The market for contaminants is projected to be $2,687.45 million by 2020, and is projected to grow at a CAGR of 6.0% from 2014. The quality assurance market is expected to be $2,224.19 million in 2014, and is projected to reach $2,954.12 million by 2020. Agricultural testing helps in analyzing appropriate requirements to be supplemented for growth. Testing, inspection, and certification of agricultural samples are influenced by farmers. Moreover, qualities of sample and common contaminants are factors that determine the type of testing required.

The segmentation of the agricultural testing market is based on the sample type being tested, application of testing, and key regions. The types include soil testing, water testing, manure testing, compost testing, bio-solids testing, seed testing, and others (greenhouse (soil-less) media, green roof media). The market is further segmented on the basis of application for contaminants (toxins, chemical residues, pathogens, and others) and quality assurance (chemical and physical). The agricultural testing market, by region, is segmented into North America, Europe, Asia-Pacific, and Rest of the World.

The agricultural testing market continues to grow due to high demand in most of the countries and the increasing market opportunities. The market players are responding to these new opportunities by expanding their global presence and product lines.

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.). Expansions & investments were found to be the most preferred growth strategies in the agricultural testing market. The purpose of adopting these strategies is that it results in better market presence, increases product portfolio, and helps to reach new potential markets. Other players such as SCS Global Services (U.S.), TUV Nord Group (Germany), Exova (U.K.), and Agilent Technologies (U.S.) also have a strong presence in the market.