LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global agricultural testing market to grow at a CAGR of over 6% during the forecast period, according to their latest market research report.
The global initiatives to improve agricultural output is one of the major trends being witnessed in the global agricultural testing market 2018-2022. The growing population has increased the need for food safety and security, which will ultimately accelerate the demand for agriculture procedure. There are several initiatives globally that aim to improve the agriculture industry.
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According to Technavio analysts, one of the key factors contributing to the growth of the global agricultural testing market is the marked increase in soil and water contamination:
Global agricultural testing market: Marked increase in soil and water contamination
Rapid urbanization and increasing number of commercial, residential, and industrial construction projects are encroaching upon agricultural land that has led to the agricultural pollution. For instance, disposal of industrial and agricultural waste in local bodies of water had led to water pollution. As a result, contaminated water seeps into the soil exposing the crops to small amounts of mercury, arsenic, lead, and cadmium dissolved in it. In such situations, agricultural testing services help combat the declining agricultural productivity.
According to a senior analyst at Technavio for research on life science research tools, “Companies such as SGS provide water testing to evaluate water quality and contamination levels due to the presence of heavy metals such as arsenic and chromium. Therefore, agricultural testing services help farmers, environmental agencies, and others to combat the decline in agricultural productivity and the risk of crop failure.”
Global agricultural testing market: Segmentation analysis
The global agricultural testing market research report provides market segmentation by application (soil testing, water testing, seed testing, and others), by product (testing services and instruments), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the major applications, the soil testing segment held the largest market share in 2017, contributing to nearly 53% of the market. This application segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for more than 40% share. It was followed by EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
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