The global plant tissue analysis market is poised to be driven by precision farming trends over the forecast period of 2024-2031. The plant tissue analysis market provides crucial insights into a plant's nutrient status and overall health by analyzing its tissue samples. This helps farmers take corrective actions to optimize crop yield. Plant tissue analysis tests parameters like nitrogen, phosphorus, potassium, and micronutrients which are essential for plant growth. The growing awareness about precision farming practices and maximizing crop production is propelling the demand for plant tissue analysis worldwide.
The Global Plant Tissue Analysis Market is estimated to be valued at US$ 250.16 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period.
Key Takeaways
Key players operating in the plant tissue analysis market are Anhui Jucheng Fine Chemical Co, Ltd. (CJCC), Ashland Inc., BASF SE, Kemira, SNF Group, Black Rose Industries Ltd., Shandong Polymer Bio-Chemicals Co., Ltd., Xitao Polymer Co., Ltd., ZL EOR Chemicals Ltd., and Dongying Kechuang Biochemical Industrial Co., Ltd. Precision farming practices necessitate timely and accurate plant nutritional screening, driving the business of major players.
The Plant Tissue Analysis Market Size increasing demand for food have raised the importance of optimizing crop yield through precision agriculture techniques. Plant tissue analysis helps farmers identify deficiencies and correct them through targeted fertilizer application. This fuels the demand for plant tissue analysis services.
Several countries are also supporting precision farming initiatives to boost agricultural productivity. For instance, government subsidies and awareness programs in countries like the US, China, India, Brazil are promoting the adoption of plant tissue analysis. This is expected to boost the global expansion of the plant tissue analysis market during the forecast period.
Market Key Trends
The integration of Plant Tissue Analysis Market Size And Trends agricultural technologies is one of the key trends witnessed in the global market. Companies are developing digital platforms and mobile applications which provide analysis reports to farmers within 24-48 hours of sample collection. This aids faster decision making. Furthermore, the use of artificial intelligence and drones for precision sampling is also gaining traction. Such technologically advanced solutions are expected to drive the plant tissue analysis market during the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants in the plant tissue analysis market is low as it requires high R&D investment and expertise to develop advanced tissue analysis instruments and reagents.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are multiple regional and global players offering tissue analysis instruments and reagents. However, industry consolidation has reduced buyer options.
Bargaining power of suppliers: The bargaining power of suppliers is low as the raw materials used in plant tissue analysis instruments and reagents manufacturing are commodity chemicals widely available.
Threat of new substitutes: There is low threat from substitutes as plant tissue analysis provides accurate results for plant health assessment which cannot be replaced.
Competitive rivalry: The competitive rivalry is moderate to high as the major global players compete on the basis of product differentiation, technology advancements and pricing.
Geographical regions: North America accounts for the largest share of the global plant tissue analysis market, both in terms of value and volume. This is attributed to escalating agriculture industry and increased adoption of advanced tissue analysis techniques for plant nutrition management.
The Asia Pacific region is poised to be the fastest growing market for plant tissue analysis during the forecast period. This is due to increasing population, rising food demand, expansion of agricultural activities and growing government focus on enhancing farm productivity in countries such as China and India.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163
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