Overview and Scope
Agroscience refers to disciplines pertaining to the production and processing of food and fibre, including agronomy, soil science, horticulture, and the study of scientific crop production systems. It refers to the sciences that deal with the processing and production of food and fibre. They cover techniques for cultivating soil, growing and harvesting crops, raising animals, and preparing plant and animal products for use and consumption by humans.
Sizing and Forecast
The agroscience market size has grown strongly in recent years. It will grow from $231.08 billion in 2023 to $244.5 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to population growth, climate change, environmental concerns, globalization and trade.
The agroscience market size is expected to see strong growth in the next few years. It will grow to $306.52 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to consumer health and wellness trends, disease and pest pressure, food security concerns, demographic shifts. Major trends in the forecast period include investment and funding, digital agriculture and precision farming, biotechnology advancements, climate-smart agriculture, vertical farming and controlled environment agriculture, smart machinery and robotics, ai and machine learning.
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Segmentation & Regional Insights
The agroscience market covered in this report is segmented –
1) By Product: Biopesticides, Biostimulants, GM Seeds
2) By Active Ingredient: Acid-based biostimulants, Extract-based biostimulants
3) By Application: Crops, Food & Vegetable
North America was the largest region in the agroscience market in 2023. North America is expected to be the largest market in agroscience market. The regions covered in the agroscience market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing adoption of sustainable agriculture is expected to propel the growth of the agroscience market. Agricultural communities across the globe are shifting towards sustainable agricultural practices to preserve and restore critical habitats, help protect watersheds, and improve soil health and water quality. For instance, in October 2021, the Agoro Carbon Alliance, the first sustainable agriculture programme backed by Yara, one of the global agriculture leaders in crop nutrition, was launched in India. The Agoro Carbon Alliance aims to create a more sustainable and profitable food future. Therefore, the growing adoption of sustainable agriculture is driving the growth of the agroscience market.
Key Industry Players
Major companies operating in the agroscience market report are Agrinos Inc., Nutrien Inc., Arysta LifeScience Corporation (United Phosphorus Ltd. ), BASF SE, Corteva Agriscience Inc., Novozymes A/S, BioWorks Inc., Dow AgroSciences LLC, E. I. du Pont de Nemours and Company, Biostadt India Limited, Koppert Biological Systems B. V., Nufarm Limited, Valent BioSciences Corporation, Valagro S. p. A., AgBiTech Pty Ltd, SRT Agro Science Pvt. Ltd., GNP AGROSCIENCES PVT. LTD., Himalaya Agro Science Industries, Green Earth Agro Science, Sigma Agriscience LLC, Eurofins Scientific SE, Bayer AG, Syngenta Group, Deere & Company, Monsanto Company, Trimble Inc., Yara International ASA, Topcon Corporation, AGCO Corporation, Kubota Corporation, FMC Corporation, The Mosaic Company, Valmont Industries Inc., Zoetis Inc., Marrone Bio Innovations Inc., Indigo Agriculture Inc., TerrAvion Inc., Taranis-Visual Ltd., Granular LLC, Resson Aerospace Corporation, Ag Leader Technology Inc., Farmers Edge Inc., Iteris Inc., Agribotix LLC, SlantRange Inc., The Climate Corporation, Sentera LLC
The agroscience market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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