Dublin, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The "Global Agriculture Materials Market (2023-2028) by Component, Equipment, Application, and Geography, Competitive Analysis, Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Agriculture Materials Market is estimated to be USD 2.36 Bn in 2023 and is expected to reach USD 3.41 Bn by 2028, growing at a CAGR of 7.64%.
Market Dynamics:
Drivers:
- Mechanization of Activities in Agriculture: The increasing adoption of advanced farming machinery and equipment, such as harvesters, tractors, and spraying equipment, is driving the growth of the agriculture materials market.
- Rising Demand for Organic Fertilizers: With a growing emphasis on sustainable agriculture and environmental concerns, there is a rising demand for organic fertilizers, which is contributing to the market growth.
- Government Support for Procurement of Agriculture Materials: Governments around the world are providing support and subsidies to farmers for the procurement of agriculture materials, further propelling market growth.
Restraints:
- Lack of Information about the Efficient Agriculture Equipment: The lack of awareness and information about the benefits and efficiency of advanced agriculture equipment is hindering market growth in some regions.
- Environmental Concern Regarding Adverse Effects of Fertilizers: Environmental concerns about the adverse effects of chemical fertilizers are leading to a shift towards organic and eco-friendly alternatives.
Opportunities:
- Rising Focus towards Precision Agriculture: The increasing adoption of precision agriculture techniques and technologies is creating opportunities for the agriculture materials market, as precision farming requires specific materials and equipment.
- Increasing Adoption of Advanced Farming Machinery: The growing adoption of advanced farming machinery, especially in developing economies, is expected to drive the demand for agriculture materials.
Challenges:
- Decreasing Arable Land: The decreasing availability of arable land due to urbanization and industrialization poses a challenge to the agriculture materials market.
Market Segmentations:
The Global Agriculture Materials Market is segmented based on Component, Equipment, Application, and Geography.
- By Component, the market is classified into Agricultural Biological, Agricultural Seeds, Agrochemicals, and Crop Production Management.
- By Equipment, the market is classified into Harvesters, Hay & Forage Equipment, Irrigation & Crop Processing Equipment, Planting Equipment, Spraying Equipment, and Tractors.
- By Application, the market is classified into Harvesting & Threshing, Land Development & Seed Bed Preparation, Plant Protection, Post-harvest & Agro-Processing, Sowing & Planting, and Weed Cultivation.
- By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
Why buy this report?
The "Global Agriculture Materials Market (2023-2028)" report offers a comprehensive evaluation of the market with in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The report includes extensive primary and secondary research and provides valuable insights into market dynamics, trends, and segmentation. The report also includes an in-depth analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. Furthermore, the report discusses the impact of COVID-19 and the economic slowdown on the market, as well as major regulatory bodies and regulations in the industry.
Report Highlights:
- Complete analysis of the market, including important market dynamics and trends
- In-depth market segmentation analysis
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Companies Mentioned
- ADAMA Ltd.
- Advanta Ltd.
- AGCO Corp.
- Agrinos AS
- Arysta Lifescience
- BASF SE
- Bayer Ag
- Changzhou Dongfeng Agricultural Machinery Group Co. Ltd.
- China National Machinery Industry Corp. Ltd.
- CLAAS KGaA mbH
- CNH Industrial N.V.
- Corteva, Inc.
- Deere & Co.
- Escorts Ltd.
- FMC Corp.
- J C Bamford Excavators Ltd.
- Jiangsu Yangnong Chemical Co. Ltd.
- Kubota Corp.
- Mahindra & Mahindra Ltd.
- Nufarm
- PI Industries Ltd.
- SDF Group
- Sumitomo Corp.
- UPL Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 195 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2.36 Billion |
| Forecasted Market Value (USD) by 2028 | $3.41 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/421s8w
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