New York, United States, March 17, 2020 (GLOBE NEWSWIRE) -- The global soil fertility testing market is set to grow at 6.2% CAGR during 2019-2029. The growth of the market is largely driven by the fertilizer industry, where testing is carried out to evaluate the impact of fertilizers. The quest to meet the surging demand for food is also driving the soil fertility testing market towards growth. Manufacturers in the market are expanding their manufacturing capacities to satiate the surging demand for soil fertility testing.
Soil Fertility Testing Market: Key Takeaways
- Enhanced time-efficiency and reduced transportation will impart prominence to the onsite soil fertility testing in the forecast period.
- Soil sensors will gain rapid traction in the market owing to their capability to collect data during operations in the field.
- East Asia will generate lucrative opportunities for growth in the soil fertility testing market on the back of increasing fertilizer application and export of crops.
- Chemical soil fertility testing will remain the most preferred type of testing through 2019-2029.
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Soil Fertility Testing Market: Key Growth Drivers
- Enhanced crop production to meet the growing demand for food across the globe is primarily driving the growth of the soil fertility testing market.
- Burgeoning demand for fertilizers to boost crop yield is propelling the market growth.
- Need to determine health fertilizer-treated soil acts as a growth lever in the market.
- Stringent regulations regarding nutrient quality of export-ready crops push the soil fertility testing market ahead
- Presence of numerous vendors in the market is positively influencing its growth
Soil Fertility Testing Market: Key Restraints
- Lack of robust and coordinated infrastructure is hindering the market’s pace of growth
- Insufficient skilled labor is a major challenge before the market
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Soil Fertility Testing Market: Competition Landscape
The competition landscape of the soil fertility testing market is sufficed with many players operating at the global and regional levels. Market players are expanding their capacity to meet the growing demand for these testing techniques. For instance, ALS Limited enhanced its scope of soil fertility testing applications by acquiring Sweden-based Mikrolab Group. Major players in the soil fertility testing market are Eurofins Agri Testing, Crop Nutrition Laboratory Services Ltd., BUREAU VERITAS, Polytest Laboratories, SGS SA, ALS Ltd, Waters Agricultural Laboratories, and Kinsey Ag Services.
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About the Report
This report offers regional and segmental level analysis on the existing trends in the industry influencing the robust performance of soil fertility testing market. The report also includes competition analysis, market dynamics analysis, value chain analysis, competition dynamics, and other vital information regarding players operating at global and regional levels in the soil fertility testing market. Further, the market is studied based on different growth determinants such as consumption of fertilizers, available arable land, existing crop export, population density, and government regulations for nutrient levels in crops in different countries.
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