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Forecast Period
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2025-2029
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Market Size (2023)
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USD 35.94 billion
|
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CAGR (2024-2029)
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7.12%
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Fastest Growing Segment
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Genetically Modified (GM) Seeds
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Largest Market
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Asia-Pacific
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Market Size (2029)
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USD 54.42 billion
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Market Overview
Global Agroscience Market was valued at
USD 35.94 billion in 2023 and is anticipated to project impressive growth in
the forecast period with a CAGR of 7.12% through 2029. The global agroscience
market encompasses a wide range of industries and technologies aimed at
improving agricultural productivity, sustainability, and efficiency. It
includes segments such as crop protection, crop genetics, soil health, and
precision agriculture.. The
adoption of genetically modified crops continues to grow, driven by traits such
as herbicide resistance, insect resistance, and improved nutritional profiles.
Consumer preferences for sustainably produced food are shaping the market.
Companies are focusing on developing environmentally friendly products and
practices.The use of big data, IoT devices, and AI in agriculture (AgTech) is
revolutionizing farm management, enabling real-time decision-making and
resource optimization.Novel formulations of pesticides and bio-based
alternatives are emerging to address pest resistance and environmental
concerns.
Key Market Drivers
Population
Growth and Food Demand
The ever-expanding global population
presents both challenges and opportunities for the agriculture sector. As the
world's inhabitants surge, so does the demand for food, creating a pivotal role
for the agroscience market.
With the global population projected to
reach nearly 10 billion by 2050, there is an urgent need for increased food
production. This surge in population is inherently linked to an escalation in
food demand. Agroscience, through its innovative technologies and practices, is
poised to address this demand by enhancing agricultural productivity and
efficiency.
The agroscience market plays a crucial
role in developing genetically modified crops that go beyond traditional
yields. These crops are engineered to possess enhanced nutritional profiles,
addressing specific dietary needs. This innovation not only boosts food
production but also contributes to better nutrition, aligning with the demands
of a growing and diverse global population.
Population growth necessitates a shift
towards sustainable agricultural practices. Agroscience embraces this challenge
by promoting techniques that conserve resources, reduce environmental impact,
and enhance long-term productivity. Precision agriculture, resource-efficient
crop management, and eco-friendly pest control methods are integral components
of sustainable agroscience solutions.
As economies grow and lifestyles evolve,
there is a shift in dietary preferences towards more diverse and protein-rich
diets. Agroscience responds by developing crops with improved nutritional
content, addressing the demand for a variety of food options. This diversity is
crucial for addressing different dietary needs across regions and demographics.
The impact of climate change on
agriculture is a significant concern, affecting crop yields and food security.
Agroscience steps in with the development of climate-resilient crop varieties
that can withstand extreme weather conditions. This ensures a more reliable
food supply, even in the face of unpredictable climate patterns influenced by
population growth.
Technological
Advancements in Crop Genetics
In the ever-evolving landscape of
agriculture, technological advancements in crop genetics stand out as a driving
force behind the growth of the global agroscience market. As scientists delve
deeper into the intricacies of plant biology, innovative technologies are
reshaping the way we cultivate crops.
Technological breakthroughs in crop
genetics have ushered in a new era of precision breeding. Techniques such as
CRISPR-Cas9 and other genome-editing tools enable scientists to modify specific
genes with unprecedented accuracy. This precision allows for the development of
crops with desired traits, such as improved resistance to pests, diseases, and
environmental stresses.
The primary goal of technological
advancements in crop genetics is to enhance crop yield and quality. By
identifying and modifying genes associated with traits like yield potential,
nutrient content, and post-harvest shelf life, researchers are contributing to
the production of crops that meet the growing global demand for high-quality
and nutritious food.
Crop genetics technology plays a crucial
role in developing varieties that can withstand the challenges posed by climate
change. By identifying and incorporating genes associated with drought
resistance, heat tolerance, and adaptability to changing environmental
conditions, scientists are creating crops that thrive in a changing climate,
ensuring stability in food production.
Crop diseases and pests pose significant
threats to global food security. Advances in crop genetics enable the
development of plants with built-in resistance to specific diseases and pests.
This reduces the reliance on chemical pesticides, promoting environmentally
friendly and sustainable agricultural practices.
Crop genetics technology goes beyond
traditional breeding methods by addressing nutritional deficiencies in staple
crops. Scientists are engineering crops to be more nutrient-dense, addressing
global malnutrition challenges. For example, biofortified crops with increased
levels of essential vitamins and minerals contribute to improving public health
outcomes.
Traditional plant breeding methods are
time-consuming, often taking years to develop new crop varieties. Technological
advancements in crop genetics, including marker-assisted breeding and genomic
selection, significantly accelerate the breeding process. This rapid pace
allows for the timely development and deployment of improved crop varieties.
Precision
Agriculture Technologies
In the 21st century, agriculture is
undergoing a transformation, driven by the integration of technology into every
facet of the farming process. Precision agriculture technologies, a cornerstone
of this revolution, are playing a pivotal role in reshaping the global
agroscience market.
Precision agriculture, often referred to
as smart farming, involves the use of advanced technologies such as GPS,
sensors, drones, and data analytics to optimize various aspects of farming. It
is a data-driven approach that enables farmers to make informed decisions,
resulting in improved resource efficiency and enhanced crop yields.
One of the primary contributions of
precision agriculture technologies is the optimization of resource use. By
employing sensors and data analytics, farmers can precisely manage inputs such
as water, fertilizers, and pesticides. This not only reduces waste but also
minimizes the environmental impact of agricultural practices, aligning with the
principles of sustainable agroscience.
Precision agriculture technologies offer
real-time monitoring of crops through satellite imagery, sensors, and unmanned
aerial vehicles (UAVs). This allows farmers to detect potential issues such as
diseases, nutrient deficiencies, or pest infestations early on, enabling timely
interventions and reducing crop losses.
The collection and analysis of vast
amounts of data empower farmers to make data-driven decisions. By leveraging
insights from precision agriculture technologies, farmers can optimize planting
schedules, irrigation regimes, and harvesting times. This not only maximizes
productivity but also contributes to the overall efficiency of the agricultural
supply chain.
Precision agriculture extends beyond
data analytics to the realm of automation and robotics. Autonomous tractors,
robotic harvesters, and drones equipped with precision spraying systems are
becoming integral parts of modern farming operations. These technologies reduce
labor costs, improve efficiency, and contribute to the scalability of
agricultural enterprises.
Soil
Health Management
In the quest for sustainable and
productive agriculture, soil health management has emerged as a linchpin in the
global agroscience market. As the world faces challenges such as population
growth, climate change, and the need for resource-efficient farming, the focus
on understanding and enhancing soil health is gaining prominence.
Soil health is the cornerstone of
agricultural productivity. Healthy soil supports plant growth, provides
essential nutrients, and plays a crucial role in water retention. Soil health
management acknowledges the intricate web of interactions within the soil
ecosystem and seeks to optimize these factors for sustainable and resilient
agriculture.
Advancements in soil testing
technologies enable farmers to assess the nutrient levels and composition of
their soil with unprecedented accuracy. Agroscience companies are developing
precision soil testing methods that allow for tailored nutrient management,
ensuring crops receive the precise nutrients they need. This not only enhances
yield but also minimizes the environmental impact of nutrient runoff.
Agroscience is delving into the
microbial world beneath our feet. Microbial solutions, including biofertilizers
and soil amendments, are being developed to enhance soil health. These
biological inputs promote beneficial microbial activity, improving nutrient
cycling, disease resistance, and overall soil structure. The market for
microbial soil solutions is experiencing significant growth as farmers
recognize their role in sustainable agriculture.
Soil health management involves holistic
practices such as cover cropping and crop rotation. These techniques not only
prevent soil erosion but also contribute to the diversification of soil
microbiota. Agroscience research is focused on identifying cover crops that
offer specific benefits, such as nitrogen fixation or weed suppression, and
optimizing crop rotation strategies to enhance soil health over time.
The integration of technology in soil
health management is evident in the rise of digital agriculture platforms.
These platforms utilize sensors, satellite imagery, and data analytics to
monitor soil conditions in real-time. Agroscience companies are at the
forefront of developing these technologies, providing farmers with actionable
insights to make informed decisions about soil health management.
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Key Market Challenges
Public
Perception and GMO Opposition
Genetically modified organisms (GMOs)
remain a contentious issue, with public perception often shaped by concerns
about safety, environmental impact, and ethical considerations. The resistance
to GMOs poses challenges for agroscience companies seeking to introduce
genetically modified crops with enhanced traits. Bridging the gap between
scientific advancements and public acceptance is an ongoing challenge for
industry.
Resistance
to Pesticides and Herbicides
The increasing resistance of pests and
weeds to commonly used pesticides and herbicides is a significant challenge in
modern agriculture. Agroscience companies must continually innovate to develop
new formulations and strategies to combat resistance, balancing the need for
effective pest control with environmental sustainability.
Climate
Change Uncertainties
Climate change introduces uncertainties
that impact agriculture and, consequently, the agroscience market. Shifts in
weather patterns, extreme events, and unpredictable growing conditions create
challenges in developing crop varieties resilient to these changes. Agroscience
must address the evolving needs of farmers facing climate-related challenges
and optimize agricultural practices for sustainability.
Key Market Trends
Digital
Agriculture and Big Data Analytics
The integration of digital agriculture
technologies and big data analytics is set to revolutionize the agroscience
market. Farmers are increasingly leveraging data from sensors, satellite
imagery, and IoT devices to make informed decisions about crop management,
resource allocation, and pest control. Agroscience companies will play a
crucial role in developing advanced analytics tools to derive meaningful
insights from the vast amounts of data generated on the farm.
Gene
Editing and CRISPR Technology
The continued advancement of gene
editing technologies, particularly CRISPR-Cas9, is set to revolutionize crop
genetics. Agroscience companies will increasingly leverage these tools to
develop crops with precise genetic modifications, enhancing traits such as
yield, disease resistance, and nutritional content. This trend holds promise
for addressing global food security challenges and meeting the demands of a
growing population.
Biologicals
and Biopesticides
The shift towards sustainable
agriculture is driving the adoption of biologicals and biopesticides.
Agroscience companies are investing in the development of environmentally
friendly alternatives to traditional chemical inputs. Biopesticides, based on
naturally occurring substances, are gaining traction as farmers and consumers
prioritize eco-friendly and organic farming practices.
Segmental Insights
Product
Type Insights
Based on the category of Product Type, Genetically
Modified (GM) seeds are poised to assert dominance in the Global Agroscience
Market due to their inherent advantages in addressing key challenges faced by
modern agriculture. These seeds are engineered to exhibit traits such as
resistance to pests, diseases, and adverse environmental conditions, leading to
increased crop yields and enhanced agricultural productivity. In a world
grappling with population growth and climate change, the demand for sustainable
and resilient agricultural solutions has never been more critical. GM seeds
offer a tailored approach to crop cultivation, enabling farmers to optimize
resources, reduce reliance on chemical inputs, and mitigate the impact of
unpredictable environmental factors. Moreover, the adaptability of GM seeds to
diverse agroclimatic conditions further solidifies their appeal on a global
scale. As the agricultural landscape continues to evolve, the superior
performance and versatility of genetically modified seeds position them as a
dominant product type in the Agroscience Market, driving innovation and
efficiency in the pursuit of food security for a growing population.
End
Users Insights
Crops are poised to dominate as
end-users in the Global Agroscience Market due to their central role in global
food production and the escalating need for sustainable agricultural practices.
As the world grapples with increasing population and changing dietary
preferences, the demand for high-yielding, resilient, and nutritionally
enhanced crops is on the rise. The Agroscience sector plays a pivotal role in
meeting these challenges by developing advanced technologies, seeds, and crop
protection solutions that enhance the productivity and quality of crops. The
focus on optimizing crop yields while minimizing environmental impact aligns
with the growing emphasis on sustainable and eco-friendly agricultural
practices. Crops, as the primary beneficiaries of agroscientific advancements,
are at the forefront of innovation, driving the demand for cutting-edge
technologies and solutions that address the complexities of modern agriculture.
As global agriculture continues to evolve, the prominence of crops as end-users
underscores their critical role in shaping the trajectory of the Agroscience
Market.
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Regional Insights
North America is poised to dominate the
Global Agroscience Market due to a confluence of factors that underscore the
region's robust agricultural infrastructure, technological prowess, and
commitment to innovation. The United States and Canada, in particular, boast
highly advanced agroscience research and development capabilities, fostering a
culture of continuous innovation in crop science, biotechnology, and
sustainable agriculture. The presence of major agroscience companies, research
institutions, and well-established regulatory frameworks further propels North
America to the forefront of the global market. The region's farmers and
agribusinesses are early adopters of cutting-edge technologies, including
genetically modified seeds, precision agriculture, and digital farming
solutions. Additionally, North America's diverse climatic conditions and the
need for crop resilience in the face of climate change drive the demand for
sophisticated agroscience solutions. With a strong emphasis on increasing
agricultural efficiency, productivity, and sustainability, North America is
positioned as a key influencer and driver of growth in the Global Agroscience
Market.
Recent Development
- In December 2023, Eurofins Scientific announced that it had signed an agreement to acquire the operations of SGS Crop Science in 14 countries. The business had generated revenues of approximately CHF 46 million in 2022. The transaction was subject to consultation with SGS Crop Science’s local stakeholders as required by the local jurisdictions and was expected to close in the coming months.
Key Market Players
- Corteva Inc
- Novozymes A/S
- Sumitomo Chemical Co Ltd
- Eurofins Scientific SE
- Syngenta AG
- Nutrien Ltd.
- BASF SE
- Bayer AG
- SRT Agro Science Pvt Ltd
- gnp agrosciences pvt. ltd.
|
By Product Type
|
By End Users
|
By Region
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- Genetically Modified
(GM) Seeds
- Biopesticides
- Biostimulants
|
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- North America
- Europe
- Asia-Pacific
- South America
- Middle East &
Africa
|
Report Scope:
In this report, the Global Agroscience Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Agroscience Market, By Product Type:
o Genetically Modified (GM) Seeds
o Biopesticides
o Biostimulants
- Agroscience Market, By End Users:
o Crops
o Food and Vegetables
- Agroscience Market, By
Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ Germany
§ United Kingdom
§ France
§ Italy
§ Spain
o Asia-Pacific
§ China
§ Japan
§ India
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the Global Agroscience Market.
Available Customizations:
Global Agroscience market report with the
given market data, TechSci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Global Agroscience
Market is an upcoming report to be released soon. If you wish an early delivery
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