Agricultural and Environmental Diagnostics Market REPORT OVERVIEW
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The global agricultural and environmental diagnostics market size was USD 4005.1 in 2021 and projected to touch USD 9517.54 million by 2031, at CAGR of 10.1% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with agricultural and environmental diagnostics experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Agricultural and environmental diagnostics refers to quality assurance tests performed to assess the quality of the crops and soil. It is done to quantify the current agricultural performance and classify them into different performances categories. They are conducted to test the samples for targets such as heavy metals, toxins, pesticides, pathogens, and various other organic contaminants. The purpose of policy framework is to ensure the safety and quality of agricultural products from the contamination and are rejected.
The increasing inclination for agricultural testing as it offers the quality assurance and resolves major problems related to water quality, soil fertility, irrigation facilities, and required nutrition for crops. Stringent rules and regulations related to quality of agricultural products and commodities have led to adoption of agricultural testing services. The rise in testing is also due to increasing illness related to food products. This is expected to increase the market growth and pose opportunities for the testing products.
COVID-19 Impact: Halt on Sale of Agricultural Products to Hamper Market Development
The effects of the COVID-19 pandemic are already being felt on a global level, the global agricultural and environmental diagnostics market is noticeably influenced. In 2020, COVID-19 has had a negative impact on many markets. Several countries went into lockdown. With the sudden pandemic, all kinds of businesses observed disruptions. With many restrictions in the pandemic, different types of markets were negatively impacted. The outbreak of COVID-19 pandemic impacted this market for a short period of time as the sale of agricultural products were affected and simultaneously influenced the agricultural testing products. It is expected to have recovery with sale of agricultural products which will also propel the demand for soil, water, and compost testing.
LATEST TRENDS
"Electrophoretic and Serological Methods to Propel Market Demand"
Electrophoretic and serological methods are expected to increase the growth of the global agricultural and environmental diagnostics market. The seed testing regulatory bodies tests vegetables and agricultural seeds to ensure the efficiency of the seeds. Various countries such as Canada and U.S. use serological and electrophoretic methods. Electrophoretic methods are used for cultivar identification and seed purity testing. Serological methods are used to identify the species of seeds and determination of species composition of admixtures. Such new testing techniques are expected to propel the market growth by posing new opportunities and also led to increase in demand for agricultural testing products.
Agricultural and Environmental Diagnostics Market SEGMENTATION
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- By Type
According to type; the market is divided into microbiology, mycotoxin, and pesticide residue.
Microbiology is the leading segment of the type segment. Testing of food segment is gaining importance along with specialist diets.
- By Application
Based on the application; the market is divided into agriculture and environment.
DRIVING FACTORS
"Strict Quality Regulations to Boost Market Growth"
The global agricultural and environmental diagnostics market growth is anticipated to rise due to strict rules and regulations regarding the quality of the agricultural products. There has been instances where there have been large-scale outbreaks of illness due to poisoned food products. In various countries framework has been formed to monitor policies and their enforcement to have higher transparency and traceability in the supply chains. It is to prevent the contamination of the feed and food products. Therefore, rules and regulations to comply with the safety and quality parameters set by regulatory authorities. Such rules and regulations are projected to drive demand for the market.
"Increasing Demand for Agricultural Productivity to Lead Market Demand"
The demand is rising quickly due to increasing agricultural productivity. The testing is becoming a common practice in various countries with commercialized agriculture to export the agricultural merchandise. The demand for testing products is also growing in countries such as China, India, and Brazil with technological advancements. Regulations and norms for agricultural productivity with environmental safety is anticipated to drive demand in the market.
RESTRAINING FACTORS
"Lack of Infrastructure to Impede Market Growth"
There are a number of factors that can propel the growth of the market. Restraining factors such as lack of coordination amongst shareholders and lack of required infrastructure and equipment. Basic supporting infrastructure is required for setting up laboratories for agriculture testing which can pose as a restraint for the product demand. These factors are expected to reduce the demand for the product in the market.
Agricultural and Environmental Diagnostics Market REGIONAL INSIGHTS
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"Europe to Dominate Market Due Owing to Strict Regulations "
Europe holds the largest part of the global agricultural and environmental diagnostics market share due to strict rules and regulations regarding environment, agriculture, and food safety. The regulations for chemical, labelling, and nutritional content. In addition, to this the region also has large number of laboratories which are also contributing to the dominance and growth of the region.
Asia Pacific is also estimated to have a considerable growth rate during the forecast period in countries such as India, Japan, Australia, and China. The growth is attributed to increasing awareness regarding food safety and implementation of those norms and regulations.
KEY INDUSTRY PLAYERS
"Key Players to Boost Demand Leading to Market Growth"
The report delivers information about the list of market players and their working in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for the global serological and electrophoretic methods market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- 3M Company (U.S.)
- Thermo Fisher Scientific (U.S.)
- Intertek Group PLC (U.K.)
- BioControl Systems (U.S.)
- C-Qentec Diagnostics (Australia)
- IDEXX Laboratories (U.S.)
- Agdia (U.S.)
- bioMérieux (France)
- R-Biopharm AG (Germany)
- PerkinElmer (U.S.)
- Romer Labs (Austria)
- Neogen Corporation (U.S.)
- Charm Sciences (U.S.)
- Roche Diagnostics (Switzerland)
- Danaher Corporation (U.S.)
- Accugen Laboratories (U.S.)
- Michigan Testing (U.S.)
- Bio-Rad (U.S.)
- Eurofins Scientific (Luxembourg)
INDUSTRY DEVELOPMENT
- November 2020: Agilent Technologies, Inc., an American analytical instrumentation development and manufacturing company has collaborated with SGS, a Swiss company for a new GC/TQ method, SGS AXYS Method 16130, approved by the US EPA for the future detection and regulation of dioxins.
REPORT COVERAGE
This research profiles a report with widespread studies that take into an explanation of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 4005.1 Million in 2022 |
Market Size Value By |
US$ 9517.54 Million by 2031 |
Growth Rate |
CAGR of 10.1% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the agricultural and environmental diagnostics market expected to touch by 2031?
The global agricultural and environmental diagnostics market is expected to reach USD 9517.54 million by 2031.
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What CAGR is the agricultural and environmental diagnostics market expected to exhibit by 2031?
The agricultural and environmental diagnostics market is expected to exhibit a CAGR of 10.1% by 2031.
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Which are the driving factors of the agricultural and environmental diagnostics market?
Drivers of this agricultural and environmental diagnostics market are strict quality regulations and increasing demand for agricultural productivity.
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Which are the top companies operating in the agricultural and environmental diagnostics market?
3M Company, Thermo Fisher Scientific, Intertek Group PLC, BioControl Systems, C-Qentec Diagnostics, IDEXX Laboratories, Agdia, bioMérieux, R-Biopharm AG, PerkinElmer, Romer Labs, Neogen Corporation, Charm Sciences, Roche Diagnostics, Danaher Corporation, Accugen Laboratories, Michigan Testing, Bio-Rad, and Eurofins Scientific are the key companies operating in the agricultural and environmental diagnostics market.