The Business Research Company’s report on the AgroScience Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the agroscience market’s growth in recent years?
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 June 2024, according to the statistics published by the Department for Environment, Food and Rural Affairs, a UK-based government department, in the UK, 133 thousand hectares of agricultural land, or 2.2% of arable land, were used to grow crops for bioenergy in 2023, with 36% dedicated to biofuel production for the road transport market. Additionally, 153 million liters of biofuel were produced from UK-grown crops, and 6.7 million metric tons of oil equivalent of plant biomass were used to generate electricity and heat in 2022. Therefore, the growing adoption of sustainable agriculture is driving the growth of the agroscience market.
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How does the future projection of the agroscience market size compare to its historical growth?
The agroscience market size has grown strongly in recent years. It will grow from $242.52 billion in 2024 to $256.72 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. 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 $329.55 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. 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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Which key players are shaping the future of the agroscience market?
Major companies operating in the agroscience market include 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
What trends will propel the growth and evolution of the agroscience market?
Strategic partnerships and collaborations are a key trend gaining popularity in the agroscience market. The key players in the market are expanding their research and development activities through strategic collaborations and partnerships with relevant players in the market. For instance, in August 2022, BASF SE, a Germany-based chemical company, announced a collaboration with Corteva Agriscience, a US-based agricultural chemical and seed company. These companies partnered to develop innovative soybean weed control solutions by cross-licensing soybean traits and complementary herbicides, providing farmers with more flexible and effective weed management options. The collaboration aims to address problematic weeds, expand herbicide-tolerant soybean options, and capture a share of the global soybean seeds and herbicide markets, with initial product launches expected in the early 2030s.
Which regions are expected to become dominant players in the agroscience market?
North America was the largest region in the agroscience market in 2024.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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What are the emerging key segments in the agroscience market, and how are they evolving?
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 And Vegetable
Subsegments:
1) By Biopesticides: Microbial Pesticides, Biochemical Pesticides, Plant-Incorporated Protectants (PIPs)
2) By Biostimulants: Humic Substances, Seaweed Extracts, Amino Acids, Beneficial Bacteria And Fungi
3) By GM Seeds: Herbicide-Tolerant Seeds, Insect-Resistant Seeds, Drought-Resistant Seeds, Other Trait-Enhanced Seeds
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How is the agroscience market defined, and what are its core characteristics?
Agroscience refers to disciplines pertaining to the production and processing of food and fiber, 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 fiber. They cover techniques for cultivating soil, growing and harvesting crops, raising animals, and preparing plant and animal products for use and consumption by humans.
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