PUBLISHER: 360iResearch | PRODUCT CODE: 1497665
PUBLISHER: 360iResearch | PRODUCT CODE: 1497665
[192 Pages Report] The Agriculture Soil Sampling & Testing Market size was estimated at USD 1.76 billion in 2023 and expected to reach USD 1.90 billion in 2024, at a CAGR 8.06% to reach USD 3.03 billion by 2030.
Agriculture soil sampling and testing refers to the systematic process of collecting soil samples from a given area of farmland and then analyzing these samples to determine various soil properties and nutrient levels. This process serves as an essential tool for farmers, agronomists, and land managers to assess soil fertility, identify potential deficiencies and toxicities of nutrients, and inform decisions regarding the appropriate type and amount of fertilizers, lime, and other soil amendments to be applied. Increasing awareness of sustainable farming practices and rising demand for high-quality agricultural produce driving the growth of the market. In addition, government initiatives promoting soil testing and sustainable farming contribute to the deployment of soil sampling and testing solutions. However, the high costs associated with advanced soil testing methods limit the adoption of soil sampling and testing solutions. Lack of awareness and education among farmers regarding the importance of soil health creates hindrances to market growth. Furthermore, the integration of IoT and AI for real-time soil monitoring and data analysis and advancements in precision agriculture technologies create potential opportunities for market growth.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 1.76 billion |
Estimated Year [2024] | USD 1.90 billion |
Forecast Year [2030] | USD 3.03 billion |
CAGR (%) | 8.06% |
Regional Insights
In the American region, there is a significant emphasis on sustainable agricultural practices, which has fueled the demand for soil sampling and testing services. The United States Department of Agriculture (USDA) and other governmental bodies have introduced various initiatives and guidelines to optimize soil health and agricultural output, influencing consumer need for sophisticated testing services. The region has also seen investment in research and development of new technologies, driving innovation in soil analytics. Precision agriculture trends and the growth of ag-tech startups are additional factors contributing to the growth of the soil sampling and testing market. EU countries have stringent regulations for soil management and conservation, which necessitates extensive soil testing. The region's commitment to organic farming and the need to prevent land degradation underpin strong consumer demand for soil assessment services. Furthermore, research institutions in the EU are active in soil-related research, which regularly introduces innovative soil testing methods in the market. Africa's diverse agriculture ranges from subsistence farming to commercial farming. With vast areas of untapped arable land and increasing awareness of modern farming techniques, soil testing is emerging as a key tool for boosting productivity. Recent investments and initiatives are aimed at equipping farmers with the knowledge for better soil management. The Asia Pacific region is characterized by a diverse range of agricultural practices and rapidly adopting new technologies. Consumer needs are driven by the necessity of enhancing crop yield and maintaining soil health in the face of increasing population demands. Emerging economies such as India and China are investing significantly in research and high-tech solutions for soil sampling and testing, shaping customer purchasing behavior towards innovative and integrated services.
Market Insights
The market dynamics represent an ever-changing landscape of the Agriculture Soil Sampling & Testing Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Agriculture Soil Sampling & Testing Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Agriculture Soil Sampling & Testing Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Martin Lishman Launches New Range of Soil Testing Kits
Martin Lishman Ltd., a provider of novel agricultural technologies, announced their newly launched suite of soil testing equipment tailored to deliver swift, exact, and consistent analyses directly in the field. This development comes as a strategic move following Palintest's discontinuation of their soil test products, placing Martin Lishman at the vanguard of soil health innovation, a critical factor for maximal crop yields and environmental protection against excessive fertilization. [Published On: 2023-12-20]
Regrow Ag Announces Partnership with FarmLab to Streamline Soil Sampling for Carbon Projects
Regrow Ag, a resilient agriculture platform provider, has announced a strategic collaboration with FarmLab, an innovative agritech startup from Australia. This partnership is set to transform the landscape of agriculture soil sampling and testing for Regrow's MRV (Measurement, Reporting, and Verification) clients. Integrating FarmLab's specialized soil analysis services, the partnership promises a streamlined end-to-end soil sampling process through a unified data collection interface enhancing project management for climate-smart agriculture ventures. [Published On: 2023-06-14]
SGS and AgriCircle Collaborate to Provide Joint Soil Health and Regenerative Agriculture Offering
SGS S.A. announced a strategic partnership with AgriCircle to advance soil health and regenerative agriculture. This alliance is geared towards enhancing sustainable farming by introducing a suite of top-tier tools and expertise. In addition, companies are streamlining soil data accessibility through automated APIs, which bolsters farmers and project developers in managing soil health effectively. [Published On: 2023-06-06]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Agriculture Soil Sampling & Testing Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Agriculture Soil Sampling & Testing Market, highlighting leading vendors and their innovative profiles. These include A&L Canada Laboratories Inc., Advantech Manufacturing, Inc. by W.S. Tyler, Agilent Technologies, Inc., AgroCares B.V., Agvise Laboratories, EIE Instruments Pvt. Ltd., Eurofins Scientific SE, Geotechnical Testing Equipment UK Ltd., Gilson Company Inc., Humboldt Mfg. Co., LaMotte Company, LogiAg, Martin Lishman Ltd., Matest S.p.A., Merck KGaA, Nanbei Instrument Limited, PerkinElmer Inc., Perry Agricultural Laboratory Inc., Precision Laboratories LLC, Premier Tech Chronos, Rock River Laboratory Inc., Soiltech (PTY) Ltd., Symbio Laboratories, Thermo Fisher Scientific Inc., and Ward Laboratories Inc..
Market Segmentation & Coverage
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