Agricultural Testing Market Estimated to Witness High Growth Owing to Increasing Concerns Regarding Food Safety

 

Agricultural testing includes detection of pesticide residues, heavy metals and other contaminants in food and soil samples. It helps ensure the quality and safety of food products. Rapid tests can detect pathogens, residues and genetic modifications directly in the field or at packing sites, allowing contaminated produce to be diverted before entering the food supply chain. Companies offer analytical testing instruments, assays and related services for residue detection in fruits and vegetables, meat, poultry and dairy.

The global agricultural testing market is estimated to be valued at US$ 6.1 Bn or Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The agricultural testing market is being driven by increasing concerns regarding food safety amongst consumers and regulatory agencies globally. Rapid detection of contaminants helps reduce health risks and ensures compliance with stringent food safety standards. Furthermore, advancements in testing technologies allows for efficient on-site analysis, reducing turnaround time between sampling and results. Portable instruments can detect a wider range of targets from a single test compared to conventional methods. This is boosting their adoption in field inspections and at processing facilities. Growing trade of agricultural commodities across borders also demands robust testing protocols to facilitate imports and exports. The above factors are expected to propel the demand for agricultural testing solutions during the forecast period.

SWOT Analysis
Strength: Agricultural testing helps ensure food safety and protect public health. It can detect harmful pathogens, contaminants and residues. Strict testing and certification requirements globally are driving demand. Government support for agricultural research and development of advanced testing techniques is growing.
Weakness: Agricultural testing is complex due to the variety of crops and conditions involved. It requires specialized expertise and expensive infrastructure and equipment. Delays in testing can impact farmers economically. Lack of harmonized standards internationally poses challenges.
Opportunity: Rapid urbanization and rising living standards in developing nations are fueling food demand. This increases the need for quality assurance and safety in agricultural produce. Technologies like biosensors, chromatography and spectroscopy offer faster, portable testing solutions. Growth of organic, non-GMO and specialty crops expands testing applications.
Threats: High capital requirements pose entry barriers for small players. Changes in regulations or trade policies globally could impact demand. Environmental factors beyond control like climate change threaten crop yields and quality, requiring adapted testing protocols. Substitution threat from alternative proteins like lab-grown meats.

Key Takeaways
The Global Agricultural Testing Market Size is expected to witness high growth. Rising population is driving food demand while concerns around safety, sustainability and ethics are prompting stricter standards in farming practices and food quality checks. The market size for 2023 is estimated at US$ 6.1 billion and it is forecast to reach US$ 8.7 billion by 2030, registering a CAGR of 4.7% during the forecast period.

Regional analysis: North America currently dominates due to extensive farming, progressive regulations and large agritech companies. However, Asia Pacific is witnessing the fastest gains fueled by growing agricultural exports from China, India and Southeast Asian nations. Standardization efforts are amplifying across Asia to boost trade. Africa and Latin America offer lucrative prospects as their agriculture sectors modernize to meet international requirements.

Key players: Key players operating in the agricultural testing market are Novartis AG, Mylan N.V., Astellas Pharma Inc., Dr. Reddy's Laboratories Ltd., Pfizer Inc., Abbott, Senju Pharmaceutical Co. Ltd., Glenmark Pharmaceuticals Ltd., Lupin Limited, and Vibcare Pharma Pvt. Ltd. They are focusing on new product launches, partnerships and expansions into emerging markets to strengthen their positions.

 

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