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How has the agroscience market size evolved in recent years?

The dimensions of the agroscience market have been experiencing a robust increase in recent times. The market, currently valued at $242.52 billion in 2024, is anticipated to reach $256.72 billion by 2025, expanding at a compound annual growth rate (CAGR) of 5.9%. The preceding growth patterns can be linked to factors including population expansion, weather pattern changes, environmental apprehensions, and globalization-driven trade.

What are the predictions for the agroscience market size in the coming years?

In the coming years, the agroscience industry is predicted to experience significant expansion. The market size will increase to $329.55 billion by 2029, with a compound annual growth rate (CAGR) of 6.4%. This projected growth during the forecast period can be linked to aspects such as the rise in health and wellness awareness among consumers, disease and pest problems, concerns over food security, and demographic changes. Key trends anticipated during this period include increased investments and funding, progress in digital agriculture and precision farming, biotechnological development, climate responsive agriculture, vertical and controlled environment farming, intelligent machinery and robotics, along with advancements in AI and machine learning.

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What key factors are fueling the growth of the agroscience market?

The rise in sustainable farming practices worldwide is anticipated to spur the agroscience market’s expansion. Globally, agricultural societies are gradually adopting eco-friendly farming methods to conserve and regenerate vital habitats, safeguard watersheds, and enhance the health and quality of the soil and water. For example, stats released by the Department for Environment, Food and Rural Affairs, a government agency based out of UK, revealed that in June 2024, 133 thousand hectares of farmland, making up 2.2% of the UK’s arable land, was used for cultivating bioenergy crops in 2023. Of this, 36% was allocated for the production of biofuel for the road transportation sector. In addition to this, crops grown in the UK produced 153 million liters of biofuel and utilized 6.7 million metric tons of oil equivalent of plant biomass for electricity and heat generation in 2022. Consequently, this increasing trend towards sustainable farming is fuelling the agroscience market’s development.

How is the global agroscience market divided into key segments?

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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Who are the key firms paving the way for growth in 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

Which trends are expected to transform the agroscience market?

Strategic alliances and cooperative efforts are rising as a major trend in the agroscience industry. The dominant players are broadening their research and development exercises through tactical affiliations and partnerships with appropriate entities in the market. BASF SE, based in Germany, announced a partnership with American agricultural chemical and seed firm, Corteva Agriscience, in August 2022, for example. The aim of this collaboration was to produce innovative solutions for soybean weed control by cross-licensing soybean characteristics and matching herbicides, offering farmers a wider range of efficient weed control solutions. The partnership hopes to tackle difficult weeds, enhance herbicide-resistant soybean alternatives and seize a portion of the global market for soybean seeds and herbicides, with the first product releases anticipated in the early 2030s.

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What regions are contributing significantly to the growth of 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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