IMARC Group’s report titled “Agroscience Market Report by Product (Genetically Modified (GM) Seeds, Biopesticides, Biostimulants), and Region 2024-2032“. The global agroscience market size reached US$ 38.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 69.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.5% during 2024-2032.
Factors Affecting the Growth of the Agroscience Industry:
- Global Food Demand and Security:
The global demand for food is driving rapid expansion in the agroscience sector, as the world grapples with the challenge of feeding a growing population while ensuring sustainable food production. As the global population continues to rise, the need for innovative agricultural solutions has become increasingly pressing. By combining cutting-edge research and technology, agroscience is working to boost crop productivity, strengthen plant resilience, and refine farming methods. The dual imperative of meeting global food needs while mitigating environmental impact is fueling a surge in research and investment in agroscience, as the industry seeks to develop more efficient and sustainable food systems.
- Climate Change and Environmental Sustainability:
The agricultural to climate change, including unpredictable weather conditions, increased pest infestations, and limited water resources. Consequently, the demand for innovative agricultural solutions that can minimize these effects while promoting eco-friendly practices is on the rise. This involves the development of crops that can thrive in water-scarce conditions, pesticides that are gentle on the environment, and advanced farming methods that make efficient use of resources. to the changing environmental landscape is becoming increasingly pressing, driving significant investment and innovation in the agroscience industry to create sustainable solutions that balance productivity and environmental stewardship.
- Ongoing Technological Advancements and Digital Agriculture:
The agroscience market is experiencing significant growth, largely due biotechnology and data analysis. The development of genetically engineered crops with improved characteristics, combined with the use of digital tools to streamline farming operations, has transformed the way crops are managed, resulting in reduced waste and increased yields. By leveraging these cutting-edge technologies, farmers are empowered their agricultural practices. As technology continues to converge with agriculture, it is fueling further research and investment in agroscience, ultimately transforming the way food is produced to address the complex demands of a rapidly changing world.
Leading Companies Operating in the Global Agroscience Industry:
- Agrinos Inc.
- Nutrien
- Arysta LifeScience Corporation (United Phosphorus Ltd.)
- BASF, Bayer
- Corteva Agriscience
- Novozymes (Novo A/S)
- Sumitomo Chemical
- Syngenta (ChemChina).
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/agroscience-market/requestsample
Agroscience Market Report Segmentation:
By Product:
- Genetically Modified (GM) Seeds
- By Trait
- Herbicide-Tolerant
- Insect-Resistant
- Others
- By Seed Type
- Corn
- Soybean
- Cotton
- Canola
- Others
- By Trait
- Biopesticides
- Bioherbicides
- Bioinsecticides
- Biofungicides
- Others
- Biostimulants
- Acid-based
- Humic Acid
- Fulvic Acid
- Amino Acid
- Extract-based
- Seaweed Extract
- Other Plant Extracts
- Others
- Microbial Soil Amendments
- Chitin & Chitosan
- Others
- Acid-based
Genetically Modified (GM) seeds represented the leading segment due to their widespread adoption for improved crop yields and pest resistance.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Global Agroscience Market Trends:
The agroscience industry is experiencing significant expansion due to the increasing global population, which requires improved agricultural productivity to fulfill food needs. This has led to a greater demand for advanced agroscience solutions. Additionally, factors like climate change and environmental issues are driving the adoption of sustainable farming practices and the creation of resilient crop varieties, promoting innovation in agroscience. Furthermore, the rising use of precision agriculture technologies, such as drones IoT devices for optimizing farming processes, is driving market growth. The growing concern for food safety and the demand for organic and non-GMO products are also encouraging the development of new crop protection and biotechnology solutions, further contributing to market expansion.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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