The global agroscience market size reached US$ 36.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 56.4 Billion by 2028, exhibiting a growth rate (CAGR) of 7.5% during 2023-2028.
Agroscience refers to the multidisciplinary field of biology that studies various agricultural practices. It involves the study of scientific methods of crop production, agronomy, soil science, horticulture, plant pathology, entomology, plant breeding, molecular biotechnology and environmental science. Agroscience is primarily focused on developing agricultural techniques to improve the quality and quantity, along with the production, preservation and packaging of the agriculture produce. It also involves the development of various products, such as biopesticides, biostimulants and genetically modified (GM) seeds, which are commonly used to ensure maximum yield.
Agroscience Industry Trends:
Significant growth in the agriculture industry, along with the increasing adoption of sustainable agricultural practices across the globe, is one of the key factors creating a positive impact on the market. Furthermore, the rapidly increasing global population that is resulting in the rising demand for food products is also providing a boost to the market growth. Apart from this, agricultural scientists are emphasizing on developing solutions to improve the quality of animal feed and biofuels. Additionally, various innovations, such as the development of acid- and extract-based biostimulants to enhance crop quality and promote the development of roots, are acting as other growth-inducing factors. Acid-based biostimulants are manufactured using humic, amino and fulvic acid and protein hydrolysates, while extract-based biostimulants are manufactured using the essence of leaves, roots, and seeds. They are a rich source of growth-enhancing bioactive compounds, phytohormones, amino acid and other nutrients. Other factors, including the implementation of favorable government policies, along with extensive research and development (R&D) activities, are expected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global agroscience market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product.
Breakup by Product:
- Genetically Modified (GM) Seeds
- By Trait
- By Seed Type
- Humic Acid
- Fulvic Acid
- Amino Acid
- Seaweed Extract
- Other Plant Extracts
- Microbial Soil Amendments
- Chitin & Chitosan
Breakup by Region:
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Agrinos Inc., Nutrien, Arysta LifeScience Corporation (United Phosphorus Ltd.), BASF, Bayer, Corteva Agriscience, Novozymes (Novo A/S), Sumitomo Chemical and Syngenta (ChemChina).
|Base Year of the Analysis
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Agrinos Inc., Nutrien, Arysta LifeScience Corporation (United Phosphorus Ltd.), BASF, Bayer, Corteva Agriscience, Novozymes (Novo A/S), Sumitomo Chemical and Syngenta (ChemChina)
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