Soil Testing, Inspection, and Certification Market Revenue is Expected to Reach US$ 5,319.4 Mn by 2027

Veröffentlicht von: Future Market Insights
Veröffentlicht am: 04.09.2017 08:48
Rubrik: Handel & Wirtschaft


(Presseportal openBroadcast) - Future Market Insights’ new report captures the pulse of the global soil testing, inspection, and certification market and presents an extensive forecast of the global market over a 10 year period from 2017 – 2027. The report ‘Soil Testing, Inspection, and Certification Market: Global Industry Analysis 2012- 2016 and Opportunity Assessment 2017-2027’ is an unbiased and detailed take on the global soil testing, inspection, and certification market and focusses on the various market segments that are tracked across key geographies around the world.

Global Soil Testing, Inspection, and Certification Market Forecast

According to Future Market Insights projections, the global soil testing, inspection, and certification market is estimated to be valued at US$ 3,272.6 Mn in 2017. This is anticipated to increase to US$ 5,319.4 Mn by the end of 2027, witnessing a CAGR of 5.0% during the forecast period.

Global Soil Testing, Inspection, and Certification Market: Growth Factors

Some of the main factors boosting the growth of the global soil testing, inspection, and certification market are:

A growing threat to the food chain due to soil, air, and water contamination

Growing consumer preference for organic food

Increasing degradation of the soil

Rising focus on environment preservation and security

There are other factors fuelling growth of the global market such as stringent regulations pertaining to soil testing, inspection, and certification; rapid globalisation; growing number of mergers and acquisitions in the soil testing, inspection, and certification industry; outsourcing of the testing, inspection, and certification function to third party experts; and an increasing number of soil testing laboratories particularly in India.

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Global Soil Testing, Inspection, and Certification Market: Segmental Forecast

The global soil testing, inspection, and certification market is segmented on the basis of Test Type into Contamination (Toxins, Chemicals, Pathogens, Others); Quality (Physical Properties, Metal, Organic Matter, Nutrients/Elements/Minerals, Inorganics, Others); and pH Test.

The Quality segment is anticipated to dominate the global market with a value share in excess of 45% throughout the forecast period. This segment will witness an accelerated growth during the forecast period

The pH test segment will witness sustained growth during the period of assessment and record a CAGR of 4.5%

The global soil testing, inspection, and certification market is segmented on the basis of End Use into Residential and Commercial (Agriculture, Landscape Contractors, Golf Courses, Gardens and Lawns, Others).

The Agriculture segment will remain the largest end use segment, projected to reach a market valuation of US$ 1,916.3 Mn by the end of 2027. This segment will register a CAGR of 5.3% in terms of value

The Residential segment will register a CAGR of 5.2% during the forecast period and hold about 24% market share by the end of 2027. This is a potential growth segment in the global soil testing, inspection, and certification market

The global soil testing, inspection, and certification market is segmented on the basis of Service into Testing (Routine Soil Testing, Greenhouse Saturation, Other Special Test); Inspection; and Certification.

The Testing segment is anticipated to grow at a CAGR of 4.9% over the forecast period. Testing is the largest segment by service, estimated to hold more than 50% market share by the end of the forecast period

Certification is the second largest segment in terms of market share, anticipated to account for almost 35% value share by the end of 2027. This segment will grow at a CAGR of 5.2%

Global Soil Testing, Inspection, and Certification Market: Regional Analysis

Future Market Insights tracks the performance of the global soil testing, inspection, and certification market across the key regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and the Middle East & Africa.

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Western Europe will remain the largest regional market in terms of revenue followed by Asia Pacific Excluding Japan. While Western Europe is projected to reach a market valuation of about US$ 1,850 Mn by 2027 end, APEJ will be valued at almost US$ 1,493 Mn by the end of the forecast period. Western Europe will register the highest regional CAGR of 5.4%. The Western Europe regional market will witness an increase of 142 basis points in its market share during the forecast period.

Global Soil Testing, Inspection, and Certification Market: Vendor Landscape

The report features some of the leading companies operating in the global soil testing, inspection, and certification market such as SGS SA, Intertek Group, Bureau Veritas, Yara International ASA, ALS Ltd, Assure Quality, Exova Group, SCS Global, RJ Hills Laboratories, APAL Agriculture, TUV Nord AG, Eurofins Scientific, GE Healthcare and Life sciences, Danaher, Agrolab Group, SAI Global Limited, Cawood Scientific, HRL Holdings Ltd, EnviroLab, and SESL Australia.

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