Seed Testing Services Market to Make Great Impact in Near Future by 2028
According
to a new market intelligence report of Future Market Insights (FMI), the seed
testing market was valued at ~ US$ 725 Mn in 2018, and is poised to see ~5.6%
YOY growth in 2019. Among the several megatrends driving the next wave of
growth in agricultural testing services market, increasing focus on ‘crop
quality’ continues to be a prominent one.
The
quest for quality necessitates emphasis on quality inspection and testing of
agricultural products, including seeds and fertilizers, propelling growth
of seed testing services
market through 2028.
According to the report, mandates for seed testing certifications to facilitate
the international trade continue to call for sessions of comprehensive seed
analysis, thereby creating a plethora of opportunities for the seed testing
service providers.
Key
players operating in the seed testing services landscape will continue to raise
the bar by providing credible certifications to end users, which will not only
play a major role in green-lighting imports and exports but also ensure
conformity to the latest labelling and traceability requirements.
As
the global agricultural scene continues to embrace modernization in an effort
to gain enhanced yields, the adoption of seed testing services for the purpose
of fostering productivity is poised to tread on an ever-increasing path.
According to FMI’s analysis, the adoption of purity tests is estimated to grow
by leaps and bounds, followed by moisture tests. As purity and moisture tests
continue to be among the basic prerequisites in the seed testing sessions, the
adoption rates of these two tests are likely to reach new heights in the coming
years. With more stringent and tight regulations coming to the fore, end users
will exhibit a greater degree of confidence on vigor tests for warranting seed
health and quality.
While
off-site services continue to be well-received among the end users, demand for
on-site services is estimated to pick pace through 2028. The demand for on-site
services remains underpinned by increasing need for convenience and
reliability, suggest FMI’s findings. In addition, growing availability of
compact, lightweight, portable testing equipment, along with an increasing
count of on-site testing service providers, is further complementing this
growth.
Seed Processors at the Forefront of Demand for Seed Testing
Services
Opportunities
are imminent for the market players during the forecast period, as seed
manufacturers (seed processors or seed refiners) continue to be at the
forefront of demand for seed testing services. In order to align with this
demand, market players vie to offer a wide range of testing services through
accredited laboratories that are strategically positioned in multiple regions.
According
to the FMI analysis, North America and Europe are estimated to emerge as the
two hub spots of opportunities for the key stakeholders of the seed testing
services market. However, the East Asia region is emerging as a bright spot for
the market players to target at, with countries such as China and Japan being
the front liners. In order to capture value across the fast-growing economies
of East Asia, companies active in the seed testing services are gaining a
granular understanding of varying trends with respect to segments, channels,
and product lines. Skyrocketing focus on trading of field crops/seeds is
further likely to provide the much-needed impetus to these regional markets,
thereby offering new opportunity streams for market players to leverage.
According
to the FMI analysis, key service providers operating in seed testing services
are channelizing their efforts toward offering tailor-made services to serve
specific end user needs. Mergers and acquisitions will continue to top the
priority list of market players, as these alliances do have a major
contribution to inorganic growth of these companies.
About Us
Future
Market Insights (FMI) is a leading market intelligence and consulting firm. We
deliver syndicated research reports, custom research reports and consulting
services which are personalized in nature. FMI delivers a complete packaged
solution, which combines current market intelligence, statistical anecdotes,
technology inputs, valuable growth insights and an aerial view of the
competitive framework and future market trends.
Contact Us
Mr.
Abhishek Budholiya
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
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T (UK): + 44 (0) 20 7692 8790
Sales: sales@futuremarketinsights.com
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44 (0) 20 7692 8790
Sales: sales@futuremarketinsights.com
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