Global Statistics Representing Soil Testing, Inspection and Certification Market Scenario
Favorable soil quality, texture, and moisture content are essential to optimal agricultural production. To satisfy growing needs from the world’s burgeoning population, farmers are looking to enhance soil quality as a means of improving crop yield. The growing use of chemical fertilizers has led to excessive supply of nutrients, which tends to reduce the inherent fertility of soil over a period of time and increase its acidic and alkaline properties, thereby affecting its pH balance.
The agriculture sector, a key end-user for soil inspection, testing, and certification services, has been experiencing substantial growth, pressed by the implementation of new farming techniques as well as increased commercialization of agriculture in developing zones. In 2016, the agriculture segment led the global soil inspection, testing, and certification market with respect to value and the trend is expected to continue over the course of the forecast period.
Excess soluble salts, iron/manganese toxicity and iron deficiency are common nutrient problems among crops, which can be overcome by soil testing and inspection. The soil testing, inspection, and certification market are slated to have strong growth potential, due to growing poverty and hunger incidences in third world countries such as those in Africa and growing population needs of emerging economies such as India and China.
The global soil testing market is expected to grow at a CAGR of 5.7% and attain a value of USD 7.6 billion over the forecast period (2019 – 2026).
The global soil testing, inspection, and certification market have been segmented on the basis of type, application, and region.
Based on type, the soil testing, inspection, and certification market can be segmented into the contamination, quality and pH value.
On the basis of application, the rapid prototyping service market can be segmented into agriculture, landscape contractors, golf courses, gardens and lawns, and others.
From a geographical perspective, the global soil testing, inspection, and certification market have been segmented into four key regions, namely North America, Europe, Asia Pacific, and Latin America and Middle East & Africa (LAMEA).
The North America soil testing inspection and certification market have been registering strong growth, backed by the remarkable development of the agriculture sector across highly prominent commercialized and developed regions. Laws and regulations regarding environmental safety and agricultural productivity have also been providing the impetus for market growth. To sustain the export volume of agricultural products, soil testing, inspection and certification have emerged to be progressively mainstream in commercialized agribusiness nations. However, expanding avenues in agriculture-dependent countries such as India, China, and Brazil and innovative developments in the field have made it imperative for nations to take recourse to soil testing, inspection and certification for higher productivity and yields.
Europe is expected to record sustainable market growth, owing to the increasing awareness pertaining to soil inspection vis-à-vis crop productivity and yields. In the LAMEA region, Brazil is estimated to grow at a rapid pace, owing to the lucrative opportunities presented by the region’s agriculture industry. The Middle East and Africa region are pegged to witness a sluggish growth rate, owing to the region’s unfavorable agricultural conditions.
Some of the key players in the soil testing, inspection and certification market are SGS SA (Switzerland), Intertek Group plc (U.K), Bureau Veritas (France), Yara International ASA (Norway), ALS Ltd (Australia), AsureQuality Ltd (New Zealand), Exova Group (U.K), SCS Global Services (U.S.), RJ Hills Laboratories (N.Z), Danaher (U.S.), and TUV Nord AG.
Soil Testing Market Segmentation
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This report offers key insights pertaining to the soil testing, inspection, and certification market with an emphasis on recent developments across geographies and development strategies adopted by prominent market participants. The following sections have specifically been covered in the report.