Asia Pacific Soil Fertility Testing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Test Type (Physical, Chemical, and Biological) and Method (Onsite and Offsite/Laboratory)

Chemical is expected to be the fastest growing Segment during the forecast period 2021-2028

According to a new market research study on “Asia Pacific Soil Fertility Testing Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Test Type and Method,” is expected to reach US$ 1,248.90 million by 2028 from US$ 897.04 million in 2021. The market is estimated to grow at a CAGR of 4.8% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific soil fertility testing market along with the drivers and restraints pertaining to the market growth. Expanding outbreak of food-borne diseases, emergent technologies to improve soil fertility, and rigorous government regulations pertaining to the nutrient content of crops to boost market growth are the major factor driving the growth of the Asia Pacific soil fertility testing market. However, inadequate awareness among farmers hinder the growth of Asia Pacific soil fertility testing market.

The COVID-19 outbreak is anticipated to cause a significant economic loss in Asia-Pacific, especially in developing countries such as India. The consequences and impact can be even worse and totally depends on the spread of the virus. The governments of various Asia-Pacific countries are taking possible steps to restrict the spread of the virus by announcing lockdown, which has negatively impacted the revenue generated by the market. The governments have asked the manufacturers to delay their production which will adversely affect the agriculture sector. For instance, the three-week lockdown period in India coincided with the harvesting of rabi crops such as wheat, mustard, and pulses. Farmers did not have enough workers to harvest due to their relocation to their native lands. They had inadequate logistical support to market the products, and they experienced a lag in government minimum support price operations. This has hampered both pre-and post-harvest operations for the agricultural sector in India.

The soil fertility testing market is segmented based on test type, method, and country. Based on test type, the market is segmented into physical, chemical and biological. In 2020, the chemical segment held the largest share in the market and the same segment is expected to be the fastest growing during the forecast period. Based on method the market is segmented into onsite and offsite/laboratory. In 2020, the offsite/laboratory segment held the largest market share and it is also expected to the fastest growing segment over the forecast period. Similarly, Based on Country the market is segmented into Australia, China, India, Japan, South Korea, and Rest of Asia Pacific. In 2020 China held the largest market share and India is expected to the fastest growing segment over the forecast period.

SGS SA; Eurofins Scientific; ALS; Agrocares; and Polytest Laboratories are among the leading companies in the Asia Pacific soil fertility testing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, SGS SA continued its global expansion capabilities with the introduction of soil, irrigation water and plant tissue testing and fertilizer recommendation services for the Chinese market. These services include sample testing of soil, irrigation water and plant tissues, and a fertilizer recommendation service for both domestic and international customers

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific soil fertility testing market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific soil fertility testing market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the soil fertility testing market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution