The soil fertility testing market in East Asia and South Asia are projected to grow at significant rates during the forecast period (2019-2029) as compared to other regions. Increasing population, better availability of arable land, and presence of a large number of soil fertility testing service providers are the primary factors driving the growth of the soil fertility testing market in these regions. Moreover, increasing demand for fertilizers and need for higher yield from limited available land are also anticipated propel the growth of the soil fertility testing market in Asia Pacific region. The Asia Pacific market is driven by countries such as India and China, owing to larger area of arable land available in the region. All these factors are together contributing to the high growth of the soil fertility testing market in the Asia Pacific region.
Stringent Government Regulations Regarding Nutrient Content of Crops to Boost Market Growth
The nutrient value of crops needs to be checked at the time of export, and it should meet the standards decided by the governments of various countries. On the other hand, there are some adverse effects on the environment when toxic gases are released into the atmosphere at the time of application of fertilizers. Hence, there are regulations to prevent the release of toxic gases in the atmosphere. Soil fertility testing is essential, as it gives an idea about soil health and proper nutrition required by crops, along with providing information about chemicals used and their impact on the soil. Thus, the implementation of government regulations is contributing to the growth of the global soil fertility testing market.
Increasing Focus on Maximizing Yield to Surge Use of Soil Fertility Testing Services
As the global population is increasing, the main challenge for farmers is to meet the increasing demand for food with limited arable land. To gain maximum output without compromising on quality, various testing methods are being implemented to understand the nutrient level and fertility of soil. Soil testing gives an idea about the current health of the soil, along with the knowledge of how to improve it with proper nutrition. This also leads to minimization of fertilizer expenditure and soil degradation. These steps are essential for maximizing yield, and are expected to have a positive impact on the growth of the global soil fertility testing market.
Rising Demand for Fertilizers Worldwide to Propel Market Growth
High demand fertilizers, especially in regions such as South Asia, East Asia, and Latin America, to raise yield, is one of the important factors boosting the global demand for fertilizers. Regular testing of fertilizers by industry manufacturers and agricultural consultants to inspect nutrient proportion and other parameters is contributing to the growth of the soil fertility testing market. Moreover, increasing consumption of nitrogen and phosphate fertilizers, along with their quality inspection in key regions, is creating opportunities for service providers in the soil fertility testing market to capture significant market share.
Global Soil Fertility Testing Market: Competitive Landscape
The global soil fertility testing market is highly fragmented, with the presence of a large number of global and local service providers. Key participants in global soil fertility testing market are Eurofins Agri Testing, SGS SA, ALS Ltd, BUREAU VERITAS, Crop Nutrition Laboratory Services Ltd., A & L Great Lakes, Waters Agricultural Laboratories, Inc., Polytest Laboratories, and Kinsey Ag Services.
Over the last few years, the global soil fertility testing market has been witnessing an increase in number of acquisitions by leading manufacturers to strengthen their service portfolios and to increase their global footprint.
A detailed view of the global soil fertility testing market has led our analysts to conclude that, the market is growing at an impressive rate, owing to the increasing need for the nutrient level management of soil as well as crops across the globe. The global soil fertility testing market is expected to be characterized by innovative developments, such as the use of sensors for collecting data on the nutrient levels of soil, over the forecast period. East Asia and South Asia are expected to be lucrative regional markets in terms of sales for players in the soil fertility testing market.
Soil Fertility Testing Market – Scope of the Report
Persistence Market Research (PMR) recently published a market study on the global soil fertility testing market, which provides key insights into the market drivers, challenges, opportunity analysis, and trends, along with detailed analysis of the soil fertility testing market structure. The soil fertility testing market study provides key and precise stats and figures, explaining how the market is projected to grow during the forecast period.
Key market growth indicators, such as supply chain analysis, year-on-year (Y-o-Y) growth, and compounded annual growth rate (CAGR) are detailed in PMR’s research report with supporting macroeconomic and forecast factors. This will help readers understand market projections of the soil fertility testing market in a quantifiable manner.
The study is relevant for service providers, investors, and stakeholders. It can help them understand the growth strategies implemented by various players in the soil fertility testing market. Investors, stakeholders, researchers, industry experts, and journalists in the soil fertility testing market can benefit from the information and statistics presented in PMR’s research report.
The report also present facts & figures related to the macroeconomic factors that are estimated to impact the growth of the soil fertility testing market on a global level. The study also offers actionable insights based on the future projections in the soil fertility testing market. Additionally, regional manufacturers and new players in the soil fertility testing market can also leverage the information available in the soil fertility testing market report to make key marketing and strategic business decisions.
Key Segments of Soil Fertility Testing Market
PMR’s study on the soil fertility testing market is divided into four different segments - type, application, method, and region. This report offers comprehensive data and information about important soil fertility testing market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Soil Fertility Testing Market Report
Soil Fertility Testing Market: Research Methodology
In PMR’s soil fertility testing market report, an exclusive research methodology has been utilized to conduct comprehensive research on the development of the soil fertility testing market report, and reach conclusions on the future growth prospects of the market. In this research methodology, secondary and primary research has been utilized by analysts to ensure the precision and reliability of the conclusions.
Secondary resources referred to by analysts during the evaluation of the soil fertility testing market study include facts and figures from World Bank, service provider websites, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several soil fertility testing industry experts, such as sales supervisors, sales operation managers, service portfolio managers, senior managers, market intelligence managers, marketing/service managers, and service managers to provide insightful information.
Comprehensive information acquired from primary resources and secondary resources is validated from companies in the soil fertility testing market to make PMR’s projections more accurate and reliable.