Soil Fertility Testing Market 2022
The global soil fertility testing market is estimated to be worth US$ 2 Bn between 2021 and 2031. Soil Fertility Testing Market to Reach US$ 1.8 Bn by 2029, Supported by Stringent Government Regulations Regarding Nutrient Content of Crops. The global soil fertility testing market will witness a CAGR of 6.5% between 2021 and 2031. Right now, the trend implies onsite soil testing as it saves on time needed for preparation of sample and transportation. Also, need to record the “live reading” is picking up pace when it comes to exporting crops to the other regions.
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According to a recent research report published by PMR, the global soil fertility testing market is expected to witness a CAGR of more than 6% through the year 2029. One of the key factors boosting the growth of the soil fertility testing market is strict regulations that have been set by the governments of various countries across the globe regarding the nutrient level in crops. Moreover, agricultural testing is becoming a priority for increasing yield, as a result of limited resources, and soil fertility testing is one of the important testing methods that needs to be used.
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- Managing nutrient levels in the soil has become an important task, owing to increasing crop requirements and adverse environmental impact of excess fertilizer application in the soil. Strict measures have been taken for regulating the nutrient levels in the soil and crops. Various accredited testing laboratories have been established in order to regulate soil fertility.
- Onsite soil testing is gaining traction, attributable to its various benefits such as lesser time required for sample preparation and analysis and reduced transport. However, highly accurate analysis is still majorly conducted through offsite testing, such as in laboratories, where various measuring tools are available.
- Soil sensors that are compatible with on-the-go acquisitions can be embedded in agricultural equipment, thus allowing the collection of data during field operations. As sensors are collecting data at the time of operations, and these sensors can be connected with smartphones, the time in sample preparation can be reduced considerably.
- Currently, the use of soil fertility testing services in East Asia is relatively high, attributable to the rapidly growing population, large arable land, increased fertilizer consumption, and increasing export of crops by various countries such as China.
Soil Fertility Testing Market: Competitive Landscape
The global soil fertility testing market is highly fragmented, and a large number of local and global players are offering soil fertility testing services for diverse applications. Key service providers of soil fertility testing are Eurofins Agro Testing, SGS SA, BUREAU VERITAS, Crop Nutrition Laboratory Services Ltd., and ALS Ltd., and these account for 13% of the overall market share. In the current scenario, East Asia and South Asia are anticipated to account for a majority of the global market share, owing to increased export of crops, larger agricultural land, and rapidly increasing population in the region.
Offsite Segment to Dominate Soil Fertility Testing Market
Offsite fertility testing is estimated to dominate the global soil fertility testing market over the forecast period, owing to the high accuracy of results obtained through laboratory analysis. The offsite soil fertility testing segment is primarily driven by organic matter levels and microscopy methods, as these two methods are widely used for soil fertility testing.
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