Soil Fertility Testing Market is anticipated to record a valuation of US$ 5,891.06 million by 2028, a recent study by The Insight Partners
According to The Insight Partners study on ““Soil Fertility Testing Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Test Type (Physical, Chemical, and Biological) and Method (Onsite and Offsite/Laboratory),” the market was valued at US$ 4,355.51 million in 2020 and is projected to reach US$ 5,891.06 million by 2028; it is expected to grow at a CAGR of 4.1% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Report Coverage Details
Market Size Value in- US$ 4,355.51 Million in 2020
Market Size Value by- US$ 5,891.06 Million by 2028
Growth rate- CAGR of 4.1% from 2021-2028
Forecast Period- 2021-2028
Base Year- 2021
No. of Pages- 128
No. Tables- 56
No. of Charts & Figures- 69
Historical data available- Yes
Segments covered- Type , Application , and End-Use
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Soil fertility testing helps determine the growth potential of soil, indicating inadequacies of nutrients, potential toxicity caused by excessive fertility, and inhibitions due to non-essential trace minerals. Soil fertility testing has become widely accepted in the agriculture sector in the last few years for achieving higher field yields and revenues. Further, increasing population in the world, the rising availability of arable land, and the presence of a large number of soil fertility testing service providers are boosting the demand for soil fertility testing products and services.
Improving and strengthening agricultural practices through increased investments and supportive government measures are mainstream in developing regions. The rising need of ensuring food security to support the demands of increasing population has propelled the adoption of soil fertility testing solutions and services in developing regions. For instance, the agrarian facilities in Africa are still in a developing phase, wherein crops are generally deprived of certain nutrients. Moreover, the continent has low access to soil fertility testing equipment and chemical fertilizers, which can be associated with their high costs. However, significant government investments in the agricultural sector, coupled with an increasing base of manufacturers in the region, are expected to boost the demand for soil fertility testing in the region. Further, rapid pace of urbanization, along with the growing concerns related to food security, has propelled the utilization of soil fertility testing to boost productivity in Asia Pacific. In addition, the positive government approach towards boosting the production and application of such techniques to maximize agricultural produce in the region has further accelerated the market growth. For instance, the International Atomic Energy Agency (IAEA) assists its Member States in developing and implementing nuclear-based technologies for increasing soil fertility practices, thereby boosting crop intensification and natural resource conservation.
Europe held the largest revenue share of the global soil fertility testing market. Europe encompasses an ample number of opportunities for the growth of soil fertility testing. The region has surfaced as one of the prominent markets for the utilization of soil fertility testing. Moreover, increasing demand for fertilizers and the need for higher yield from limited available land is also anticipated to propel the growth of the soil fertility testing market in the European region.
Impact of COVID-19 Pandemic on Soil Fertility Testing Market
The COVID-19 outbreak has disrupting the soil fertility testing market due to the slowdown of agricultural activities, instabilities in supply chains, limitations on trade movements, and decrease in the availability of workforce, among others. The outbreak has distorted operational efficiencies and disrupted the value chains due to the sudden shutdown of national and international boundaries. However, as the economies are planning to revive their operations, the demand for soil fertility testing is expected to rise globally in the coming months. Furthermore, the demand for healthy food crops, fruits, and vegetables as well as the need for nutrient-rich and immunity-boosting food products have risen due to an increase in number of COVID-19 cases, which would support the soil fertility testing market growth. Further, amid the pandemic, agrarian nations such as India, Bangladesh, and Vietnam, where agriculture accounts for 12–16% of GDP, have been hit the worst. Despite relief plans and packages announced by governments for small farmers, the agriculture sector performance has been declining. The supply of agricultural produce from California, which supplies nearly one-third of the US’s fruits and vegetables, was restricted with the surge in infection in 2020, which hampered the growth of the soil fertility testing market in the country.
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Based on test type, the soil fertility testing market is segmented into physical, chemical, and biological. The chemical segment held the largest share in the market in 2020. Chemical soil tests have emerged as a monitoring tool for avoiding excessive nutrient input to the farm system. These tests help determine the concentration of essential plant nutrients such as phosphorus, nitrogen, potassium, available lime, organic matter, sulfur, and trace elements as well as other physical properties such as capacity, permeability, density, and pH. Further, the soil chemical testing assists in the optimization of crop production, protection of the environment from contamination caused by runoff and leaching of excess fertilizers, diagnosis of plant culture problems, and enhancement of nutritional balance of the growing media.
The soil fertility testing market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2020, Europe accounted for the largest market share in the global soil fertility testing market. The soil fertility testing industry in the countries of Europe has experienced a huge shift over the years.
Soil Fertility Testing Market: Competitive Landscape and Key Developments
SGS SA; Eurofins Scientific; ALS Limited; Agrolab GmbH; Actlabs; Agrocares; Water Agriculture Laboratories, Inc.; Polytest Laboratories; Crop Nutrition Laboratory Services Ltd.; and A and L Great Lakes. are among the key players in the global Soil Fertility Testing market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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