Cover Crops Market - Growth Drivers & Opportunities 2017-2027
The global Cover Crop Market is driven by increasing modern agricultural practices in the forecast period, 2023-2027. According to TechSci Research report, “Cover Crops Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, The global cover crop market has the potential to project an impressive CAGR toward forces growth in the period, 2023-2027, on the account of rapidly increasing adoption of modern agricultural practices.
The surge in demand for higher-yielding crops to feed the rising global population is further driving the growth of the global cover crops market in the upcoming five years. Increasing demand for higher-yielding crops and increased agricultural practices to produce large quantities of food and commercial crops depletes soil quality to large extent. Thus, the demand for enriching the soil with nutrients, and holding off the nutrient from leaching is also supporting the growth of the global cover crop market in the next five years. Rising awareness among farmers and planters toward the advantages of cover crops and modern agricultural practices is also substantiating the growth of the global cover crops market in the future five years. Advanced technological practices in the agricultural industry are further influencing the future growth of the global cover crops market in the forecast years, until 2027.
Although planting cover crops requires additional efforts from the farmers and planters and may create mild hindrances in market growth. This extra work demoralizes farmers but creating more awareness and incentive-based payments would aid in the growth of the global cover crop market in the forecast period.
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The global cover crop market segmentation is based on type, application, regional distribution, and competitive landscape. Based on type the market is further fragmented into legumes, grasses, broadleaf non-legumes, and others. Legumes are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of their advantages in nitrogen fixation. Legumes or pulses crops have the ability to drive nitrogen components present in the air ad to affix them to the soil thereby enriching the soil. This also helps in retaining the soil leaching and thus is responsible for the growth of the sub-segment along with the growth of the global cover crops market in the next five years. The grasses sub-segment is also expected to register significant growth in the future five years on the grounds of their ease of plantation. Farmers are not required to put much extra effort into planting long grasses and thus support the global cover crop market in the process for consecutive five years. Broadleaf non-legume crops like crimson clover, cereal rye, and hairy vetch are expected to generate fastest growing CAGR value in the future five years on the grounds of advantages like increasing plant & insect diversity, enriching soil’s physical, chemical, and biological properties, along with decreasing the risk of crop failure.
On the basis of application, the market is sub-segmented into soil fertility management, preventing soil erosion, weed management, pest management, and others. Soil fertility management is anticipated to dominate the sub-segment and register the largest revenue shares of the market in the upcoming five years on the account of increasing implementation of advanced agricultural practices in conjugation with traditional agricultural practices. Soil fertility management practices include the use of fertilizers (bio-fertilizers), organic products to enrich soil health, crop rotation practices (cover crop plantation), and using advanced seeds, and germplasm. Cover crops are also applied to prevent soil erosion, as they hold the nutrient in the soil and reduces the chances of nutrient leaching, therefore, supporting the growth of the sub-segment as well as the growth of the global cover crop market in the forecast years, until 2026.
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“North America region is anticipated to register robust growth in the future five years on the grounds of increasing inclination of farmers and planters toward amalgamating traditional and modern agricultural practices. Moreover, countries like the United States are actively supporting cover crop plantations in recent years and are anticipated to thus support the future growth of the global cover crops market in the upcoming five years. Also, the US government is actively supporting the cover crop organic practices for soil fixation purposes. USDA affiliated; Environmental Quality Incentives Program provided a planned payment of USD155 million toward cover crops in the year 2017 that enriched 2 million acres of agricultural land in the US. Such government initiatives would further substantiate the growth of the global cover crops market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Cover Crops Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027, Segmented By Type (Legumes, Grasses, Broadleaf Non-Legumes, Others), By Application (Soil Fertility Management, Preventing Soil Erosion, Weed Management, Pest Management, Others), By Region”, has evaluated the future growth potential of global cover crops and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global cover crops market.
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