Soil Fertility Testing Market is Estimated to Reach US$ 2.46 Billion by 2034 | Fact.MR Report

Soil Fertility Testing Market, valued at US$ 1,329.1 million in 2024, is projected to reach US$ 2,464.6 million by 2034, driven by a robust CAGR of 6.4%. Fueled by rising global food demand, precision agriculture adoption, and sustainable farming initiatives, this market is pivotal for optimizing crop yields and ensuring soil health. This press release explores the key drivers, projections, and opportunities shaping this vital industry.

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Why Is the Market Growing?

Increasing global food demand, with the UN reporting 783 million people facing hunger in 2022, drives the need for enhanced agricultural productivity. Soil fertility testing enables farmers to assess nutrient levels, pH, and soil health, optimizing fertilizer use and boosting yields by up to 20% in some regions. The rise of precision agriculture, with 27% of U.S. farms adopting technologies like variable rate fertilization in 2023, fuels demand for advanced testing solutions.

Government initiatives, such as India's Soil Health Card Scheme, promote sustainable practices, while innovations like Eurofins' 2023 acquisition of SGS Crop Science enhance testing capabilities. Challenges like high testing costs, averaging US$ 50-250 per test, are mitigated by portable devices and subsidies.

What Are the Key Market Projections?

The market is set to create a US$ 1,135.5 million opportunity by 2034, growing from US$ 1,329.1 million in 2024 to US$ 2,464.6 million at a 6.4% CAGR. The chemical testing segment, holding a 65% share in 2024, is projected to grow at a 6.0% CAGR, creating a US$ 514.6 million opportunity. East Asia, with a 17.8% share in 2034, and North America, led by the U.S. at US$ 434.7 million by 2034, are key growth regions. Off-site testing is expected to reach US$ 1.92 billion by 2034.

Historical growth from 2019 to 2023 was at a 6.4% CAGR, reflecting steady momentum. Short-term growth (2024-2027) focuses on on-site testing, while long-term trends (2030-2034) emphasize IoT and AI integration.

How Can Stakeholders Leverage Opportunities?

Stakeholders in agriculture, agritech, and research can capitalize by investing in AI-driven and portable testing solutions, like IIT Kanpur's 2024 Soil Nutrient Sensing Device, which conducts 250 tests per charge. Partnerships, such as Eurofins' 2023 collaboration with SRUC, enhance market reach in regions like Europe. Targeting East Asia, particularly China and Japan (7% CAGR), offers significant potential due to rising agricultural investments.

Direct sales and digital platforms, accounting for 30% of sales in 2024, ensure scalability. Compliance with ISO standards, like ISO 13.080.05 for organic certification, boosts credibility and market access.

What Does the Report Cover?

Fact.MR's report combines primary research with experts across 30+ countries and secondary analysis, covering segments by method (on-site, off-site), type (chemical, physical, biological), and application (soil structure, aeration, drainage, chemical fertility). It highlights trends like IoT integration, precision agriculture, and sustainable practices, providing actionable insights for stakeholders across North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa.

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Who Are the Market Leaders?

Key players include Eurofins Scientific, SGS SA, ALS Ltd, Merck KGaA, and Thermo Fisher Scientific Inc. Eurofins' 2023 acquisition of SGS Crop Science across 14 countries strengthened its soil testing portfolio. ALS Ltd's 2024 launch of portable spectroscopy devices enhanced on-site testing capabilities. These companies, holding over 30% of the market, drive innovation through R&D, acquisitions, and partnerships with agricultural institutions.

What Are the Latest Market Developments?

In 2024, global agricultural output grew by 2.8%, increasing demand for soil testing to optimize yields. Innovations like near-infrared spectroscopy and drone-based mapping, adopted by 15% of farmers, improved testing accuracy by 20%. East Asia's 17.8% market share reflects China's focus on sustainable farming, while the U.S. market is set to reach US$ 434.7 million by 2034.

Regulatory advancements, like the EU's soil health mandates, boosted adoption by 10%. Developments such as IIT Kanpur's November 2024 smartphone-compatible nutrient analyzer enhanced accessibility for small-scale farmers.

What Challenges and Solutions Exist?

High testing costs, ranging from US$ 50-250, and a lack of trained soil inspectors in developing regions hinder adoption. Soil degradation, with 89% of global soils projected to be degraded by 2050, underscores the need for testing. Solutions include cost-effective portable kits, like those from ScaNxt Scientific, reducing costs by 15%. Government subsidies, such as India's Soil Health Card Scheme, increase accessibility. AI-driven platforms, adopted by 10% of testing firms in 2024, enhance efficiency, while compliance with FAO and ISO standards ensures reliability and market growth.

Conclusion:

The Global Soil Fertility Testing Market is set to reach US$ 2,464.6 million by 2034, driven by a 6.4% CAGR. With applications in nutrient management, precision agriculture, and sustainable farming, and supported by IoT, AI, and portable innovations, the market offers transformative opportunities. Stakeholders can leverage Fact.MR's insights to target high-growth regions like East Asia and North America, invest in advanced and cost-effective solutions, and address cost and expertise challenges to thrive in this essential agricultural industry.

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This release was published on openPR.