Agricultural Testing Market worth 6.29 Billion USD by 2022, at a CAGR of 6.64%

Northbrook, USA, 2021-Jul-29 — /EPR Network/ — The agricultural testing market is estimated to be valued at USD 4.56 billion in 2017, and is projected to reach USD 6.29 billion by 2022, at a CAGR of 6.64%. The market is driven by stringent safety and quality regulations for agricultural commodities, and rapid industrialization leading to the disposal of untreated industrial waste into the environment.

Key players in the agricultural testing market include SGS (Switzerland), Intertek (UK), Eurofins (Luxembourg), Bureau Veritas (France), ALS Limited (Australia), and TÜV NORD GROUP (Germany). Furthermore, Mérieux (US), AsureQuality (New Zealand), RJ Hill Laboratories (New Zealand), SCS Global (US), Agrifood Technology (Australia), and Apal Agricultural Laboratory (Australia) are the other players that hold a significant share in the agricultural testing market.

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SGS is one of the active players in the agricultural testing market; it is involved in inspection, verification, testing, certification, and quality assurance services. The company has a range of agricultural testing offerings for various samples such as soil, water, and seed. It has R&D centers and adopts new techniques as per technology advancements. The company has become a renowned brand in the industry for its quality and client base. It focuses on strategic acquisitions and expansions to increase its capacity and strengthen its business network.

Eurofins Scientific is an international group of laboratories that provide testing and support services to the pharmaceutical, food, agricultural, environmental, and consumer products industries, as well as to governments. Its strong infrastructure helps it cope during peak periods of testing demand from clients. The major strengths of the company are its widespread global network and its testing services of superior technical quality and regulatory thoroughness. The company continues to generate significant growth by way of constant acquisitions. In January 2018, Eurofins acquired Tsing Hua Testing & Analysis Co., Ltd. (Vietnam), a leading player in environmental and agricultural testing market for water and soil. With this acquisition, the company expanded its reach in Vietnam.

Intertek is a provider of quality and safety services. It serves manufacturers, retailers, governments, and traders across various industries, globally. The company has a global network of over 1,000 laboratories, including 20 high-tech food testing laboratories in Germany, Great Britain, and Shanghai, and testing facilities in Beijing, India, Vietnam, and the Philippines. It focuses on expansions as its key strategy to develop networks. In November 2017, Intertek expanded its agricultural testing laboratory in New Orleans (US) and upgraded its equipment in order to enhance its agricultural testing services in the US.

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Recent Developments:

• In January 2018, Eurofins acquired Tsing Hua Testing & Analysis Co., Ltd. (Vietnam) which is a leading player in environmental and agricultural testing market for water and soil. With this acquisition, the company expanded its reach in Vietnam.
• In November 2017, SGS acquired BioVision Seed Research (Canada). This helped the company in adding three accredited seed, grain, and soil testing laboratories in Canada, thereby expanding its presence in the country.
• In November 2017, Intertek expanded its agricultural testing laboratory in New Orleans (US) and upgraded equipment in order to enhance its agricultural testing services in the US.
• In October 2017, ALS Limited acquired Mikrolab Group (Sweden), which provides agricultural, pharmaceutical, environmental, and food testing to a wide range of clients in Sweden, thereby expanding the company’s presence in the country.
• In March 2017, Bureau Veritas acquired Schutter Group B.V. (Netherlands), with a view of diversifying its service portfolio by leveraging Schutter’s expertise in inspection, laboratory testing, risk management, supply chain auditing, and certification, in the field of food and agricultural commodities and expanding its geographic footprint.