Rockville, MD , Sept. 26, 2024 (GLOBE NEWSWIRE) -- The global Soil Fertility Testing Market is set to reach a valuation of US$ 1,329.1 Mn in 2024 and further expand at a CAGR of 6.4% to end up at US$ 2,464.6 by the year 2034.
The increasing organic retail market is giving a tremendous boost to the demand for certified soil health, thereby directly affecting the soil fertility testing market. Soil quality maintenance is one of the organic standards according to certification of organic products including ISO 13.080.05 and ISO 17892-1. It is expected that consumers will be more conscious about food safety and sustainability thus increasing in demand for soil testing services that are related to organic agriculture practices aimed at preserving soil fertility.
Moreover, increasing demand for food items across the world further puts additional pressure on agricultural systems to increase production. Testing the fertility of the land provides fundamental information that is vital for maximizing yields of crops while protecting soil health. Soil testing is almost indispensable owing to the important role farmers have to play in the furtherance of growing human food needs.
• Global food demand is projected to surge by 35% to 56% from 2010 to 2050, underscoring the critical need for soil fertility testing. As agricultural systems strive to meet this increased demand, soil testing becomes essential for optimizing nutrient management, ensuring higher crop yields, and sustaining soil health.
Testing the fertility of the soil is important to ensure this key resource is being used sustainably in light of the ever-increasing agricultural productivity demands. Regular testing will also develop capabilities for the farmers to manage soil nutrients efficiently to improve yields and food security against growing global demand.
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Key Takeaways from the Market Study:
- The global soil fertility testing market is projected to grow at 6.4% CAGR and reach US$ 2,464.6 Million by 2034
- The market created an opportunity of US$ 1,206.1 million growing at a CAGR of 6.4% between 2019 to 2023
- East Asia is a prominent region that is estimated to hold a market share of 17.8% in 2034
- Chemical soil fertility testing under the type are estimated to grow at a CAGR of 6.0% creating an absolute $ opportunity of US$ 514.6 million between 2024 and 2034
- North America and East Asia are expected to collectively create an absolute $ opportunity of US$ 543.9 million.
“Innovations like Mobile Soil Testing Labs, Advanced Spectroscopy and Automated Sampling and Testing will drive the Soil Fertility Testing’s market,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Soil Fertility Testing Market:
Key players in the soil fertility testing industry are Eurofins Agri Testing, SGS Agriculture, Bureau Veritas, Yara, ALS Ltd, Waypoint Analytics, A&L Laboratories (Deveron), Duraroot, Water Agriculture Laboratories Inc, Agvise Laboratories Inc.
Market Growth Stratagems:
To create synergies or cooperative agreements, organizations are incorporating new products. This is done to enhance everything about their services including quality hence resulting in high consumer demand which in turn translates into increased sales. Besides, emerging markets such as China and India are consistently growing at a fast rate due to automobile and architectural industries for the provision of better products.
- On September 12, 2023 Eurofins Agro Testing announced partnership with SRUC (Scotland's Rural College), taking over the soil, forage, and plant pathology laboratory services. This collaboration aims to enhance agricultural testing across the UK by combining Eurofins' extensive portfolio with the strong reputation possessed by SRUC thus enhancing sustainable farming practices.
- March 7, 2023: Vive Crop Protection and A&L Biological Inc. have entered into a partnership that is aimed at advancing biological solutions for North American crop markets through a combination of microbial library developed by A&L with R&D capabilities alongside Vive’s Allosperse® Delivery Technology to fast track as well as expand their biological product portfolios.
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Soil Fertility Testing Industry News:
- On September 12, 2023, Eurofins Agro Testing stated that it will be assuming control of the soil, feed, and plant pathology laboratory services through a partnership with Scotland's Rural College, or SRUC. The goal of this transaction is to strengthen agricultural testing across the United Kingdom by combining the extensive portfolio of Eurofins with the notable standing of SRUC in the Scottish market for sustainable farming methods.
- On December 18, 2023, Eurofins stated that it had reached a deal to purchase SGS Crop Science's businesses across 14 countries, thereby strengthening its position as the industry leader in soil testing and agroscience contract research services. Through this acquisition, Eurofins' capabilities in precision farming, agronomy services, and testing agricultural inputs are strengthened. The goal of providing a high-value, worldwide portfolio of testing and research services is aligned with this acquisition by Eurofins. By offering cutting-edge data collection and regulatory support for agricultural innovation, Eurofins will benefit its global customer base by adding 480 new jobs, mostly in soil fertility testing.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the Soil Fertility Testing market, presenting historical market data (2019-2023) and forecast statistics from 2024 to 2034.
The study reveals essential insights based on the by Type (Chemical, Physical, Biological.), By Application (Structure of Soil, Aeration in Soil, Drainage in Soil, Chemical Fertility of Soil.), By Method (On-Site, Off-Site [Organic Matter Levels, Microscopy, Organism Activities, Fumigation, Molecular Method].) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
Segmentation of Soil Fertility Testing Industry Research:
By Type :
- Chemical
- Physical
- Bio-logical
By Application :
- Structure of Soil
- Aeration in Soil
- Drainage in Soil
- Chemical Fertility of Soil
By Method :
- On-Site
- Off-Site
- Organic Matter Levels
- Microscopy
- Organism Activities
- Fumigation
- Molecular Method
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