Rockville , Jan. 04, 2024 (GLOBE NEWSWIRE) -- As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global soil fertility testing market is estimated at a value of US$ 1.32 billion in 2024 and is forecasted to reach US$ 2.47 billion by 2034-end.
Soil fertility testing plays a crucial role in modern agriculture by providing essential insights into soil health, nutrient levels, and overall fertility. As global concerns about sustainable farming practices and environmental impact are rising, the demand for precise and data-driven soil testing solutions is predicted to increase at a significant pace during the next 10 years.
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Convergence of the Internet of Things (IoT) and precision agriculture is a prominent trend. Real-time monitoring and data analytics are enabling farmers to make informed decisions regarding nutrient application, leading to optimized yields and resource efficiency. There is also a growing trend toward sustainable agricultural practices. Soil fertility testing plays a critical role in sustainable farming by aiding in the reduction of environmental impact, minimizing nutrient runoff, and promoting efficient resource use.
Ongoing technological advancements, including sensor technologies and machine learning algorithms, are further enhancing the accuracy and efficiency of soil fertility testing solutions. These innovations are contributing to the evolution of precision agriculture and smart farming practices.
Key Takeaways from Market Study
- Global demand for soil fertility testing solutions is predicted to rise at a CAGR of 6.3% through 2034.
- The United States market is projected to reach a valuation of US$ 434.7 million by the end of 2034.
- Sales of soil fertility testing technologies in Japan are projected to advance at a CAGR of 7% from 2024 to 2034.
- Demand for off-site soil fertility testing is forecasted to reach a market value of US$ 1.92 billion by 2034.
| Report Attribute | Details |
| Value Projection (2034) | US$ 2.47 Billion |
| Growth Rate (2024-2034) | 6.3% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
“Supportive government policies and subsidies promoting sustainable farming practices and soil health management are boosting the adoption of soil fertility testing solutions globally,” says a Fact.MR analyst.
Key Market Players
- Eurofins Agro
- ALS Ltd
- BUREAU VERITAS
- AgroLab
- Actlabs
- A&L Great Lakes Laboratories, Inc.
- Kinsey Ag Services
- SGS Société Générale de Surveillance SA
- A&L Canada Laboratories Inc.
- Waters Agricultural Laboratories, Inc.
- Polytest Laboratories
- Crop Nutrition Laboratory Services Ltd.
- Duraroot
- AgroCares Technology
Key market players are strategically expanding their geographic presence to tap into emerging markets and address the increasing demand for soil fertility testing services globally. Strategic collaborations and partnerships are also broadening their market reach.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global soil fertility testing market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights on the market based on method (on-site, off-site), type (chemical, physical, biological), and application (structure of soil, aeration of soil, drainage in soil, chemical fertility of soil), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Explore More Related Studies Published by Fact.MR Research:
Soil Analysis Technology Market: The global soil analysis technology market is set to be worth US$ 684 Mn in 2022, and estimated to surpass a valuation of US$ 1.26 Bn by the end of 2032, expanding at a CAGR of 6.3% from 2022 to 2032.
Soil Compaction Machines Market: Global soil compaction machine sales are estimated at US$ 5.4 billion and are forecasted to climb to US$ 10.6 billion by 2033-end.
Soil Stabilization Materials Market: Global soil stabilization materials market is forecast to grow at a significant rate of around 6% in coming years.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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