Plant Tissue Analysis Market Projected to Reach $314.9 Million, Globally, by 2030 at 4.7% CAGR, Says Coherent Market Insights (CMI)

Burlingame, July 25, 2023 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, “Plant Tissue Analysis Market, by Component (Platform (Cloud-based and On-premises), Services), by Terminal Type (Desktop Based and Mobile Based), by End User (Agricultural Companies, Research, Others) - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030”According to the report global plant tissue analysis market is estimated to be valued at US$ 228.24 million in 2023 and is expected to exhibit a CAGR of 4.7% during the forecast period (2023-2030). Global plant tissue analysis market's growth is expected to increase over the forecast period. This is due to the increasing inorganic activities such as collaborations, acquisitions, etc. by the market players, in order to provide more services to the clients. Manufacturers such as AgSource, AgroLiquid, Crop Nutrition Laboratory Services Ltd., Element Materials Technology among others are indulged in such inorganic strategies which is expected to increase the growth of the market over the forecast period.

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Key Trends and Analysis of the Global Plant Tissue Analysis Market:

Market players are indulging in inorganic activities such as acquisitions, in order to expand their plant tissue analysis services, which is expected to increase the growth of the global plant tissue analysis market over the forecast period. For instance, in March 2022, AgSource, providers of dairy producers and agriculturists, announced the acquisition of Dairyland Laboratories, Inc. Agronomy Services Division in Stratford, Wisconsin. Dairyland Laboratories, Inc. is an independent, full-service agricultural testing laboratory that offers the analysis of feeds, forages, soil, water, and others. This acquisition transferred all soil, plant tissue, and manure analysis, as well as nutrient management services to AgSource.

Plant Tissue Analysis Market Report Coverage

Driver -:

Increasing inorganic activities such as partnerships for increasing the provision of service for plant tissue analysis

Market players are indulged in conducting inorganic activities such as partnerships, which is expected to drive the growth of the global plant tissue analysis market over the forecast period. For instance, in August 2022, SGS Société Générale De Surveillance SA signed a memorandum of understanding (MOU) with Siemens Pte Ltd, a technology company that is focused on industry, infrastructure, transport, and healthcare. This MOU emphasized the provision of sustainability consulting to companies in Southeast Asia.

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Global Plant Tissue Analysis Market – Restraint

Many factors such as interpretation difficulties, the interrelationship of other factors, progressive deficiencies, sample contamination, and sample deterioration are some of the limitations of the global plant tissue analysis market. Following are the details mentioned for two limitations:

• Interpretation Difficulties – Due to differences in plant location, plant variety, and management may cause variations in these relationships and thus make it difficult to interpret. Nutrient levels in plants differ depending upon the plant part sampled, hybrid, and climatic conditions
• Progressive Deficiencies – Progressive deficiencies is another limitation of plant analysis as it usually detects only one element that inhibits plant growth the most. In every condition, rarely two or more elements are deficient at the same time

Market Trends -:

Increase in product launches such as plant tissue analysis software by the market players

Increasing launches of software for plant tissue analysis by the market players is expected to increase the global plant tissue analysis market. For instance, in May 2020, Merck KGaA, a pharmaceutical company, announced the launch of the Bio4C ProcessPad Software, which is utilized for plant data visualization, analytics, and process monitoring platform that enables bioprocess lifecycle management, reporting, investigations, and continued process verification

Recent Developments:

On February 14, 2023, Ward Laboratories, Inc. posted a blog titled “Total Nutrient Digest Analysis.” This blog provides information about Total Nutrient Digest Analysis and its importance.

On November 15, 2022, Picketa Systems Inc announced the launch of LENS (Leaf Evaluated Nutrient System). LENS provides all users with nutrient analysis results at their fingertips.

Key Market Takeaways:

The global plant tissue analysis market is expected to exhibit a CAGR of 4.7% during the forecast period, owing to the market players indulging in inorganic activities such as acquisition, which is anticipated to provide attractive growth prospects. For instance, in July 2022, Eurofins Scientific, laboratory testing service provider, announced the acquisition of WESSLING Hungary, one of the leading environmental, food, and BioPharma product testing laboratories in Hungary. This acquisition strengthened Eurofins Scientific’s environmental, food, and biopharma product testing offerings in Hungary. Eurofins Scientific conducted 59 acquisitions in 2022, of which 9 involved asset deals. These transactions resulted in annual sales of US$ 283 million in FY 2022 and a total investment of US$ 453 million.

North America is expected to be a dominating region in the global plant tissue analysis market, owing to rising demand for high-quality crops and increasing pressure on farmers to produce more food using fewer resources. For instance, according to data published by the U.S. Department of Agriculture in February 2023, the use of autosteer and guidance system occurs on over 50% of U.S. planted acres in 2022. The cultivated crops include corn, soybeans, winter wheat, cotton, rice, and sorghum. Further advances in technology such as spectrophotometry and inductively coupled plasma mass spectrometry (ICP-MS) have amplified the adoption of plant tissue analysis in the region

Competitive Landscape:

Key players operating in the global plant tissue analysis market include AgSource, AgroLiquid, Crop Nutrition Laboratory Services Ltd., Element Materials Technology, SGS Société Générale de Surveillance SA, Eurofins Scientific, Picketa Systems Inc., Spectrum Analytic, Soilscape Solutions, Wallace Laboratories LLC., Ward Laboratories, Inc., Waters Agricultural Laboratories, Inc.

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Market Segmentation:

• Global Plant Tissue Analysis  Market, By Component:
  • Platform
    • Cloud-based
    • On-premises
  • Services
• Global Plant Tissue Analysis Market, By Terminal Type:
  • Desktop Based
  • Mobile Based
• Global Plant Tissue Analysis Market By End User:
  • Agricultural Companies
  • Research
  • Others ( Academic Institutes, among Others)
• Global Plant Tissue Analysis Market, By Region:
  • North America
    
    • U.S.
    • Canada
  • Latin America
    
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    
    • South Africa
    • Central Africa
    • North Africa
      
      

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