Dublin, April 30, 2024 (GLOBE NEWSWIRE) -- The "Agroscience Market Report by Product (Genetically Modified (GM) Seeds, Biopesticides, Biostimulants), and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The agroscience industry is entering an era of robust growth with a projected Compound Annual Growth Rate (CAGR) of 6.7% from 2023 to 2032, catalyzed by emerging technological trends and sustainable farming practices. This report delves into this buoyant global market, which is poised to soar from a value of US$ 38.7 billion in 2023 to an estimated US$ 69.6 billion by the year 2032.
The research highlights the significance of biotechnological advancements, precision agriculture, and the growing adoption of IoT in transforming the agroscience sector. Pioneering solutions addressing crop protection, efficient crop management, and increased agricultural productivity underscore the industry's upward trajectory.
With climate change posing intricate challenges to global food security, the agroscience market is responding with innovative climate-resilient crop solutions and eco-friendly pest management products. These pivotal changes underscore the urgency and focus of the agroscience sector on sustainable practices.
The report identifies genetically modified (GM) seeds as the sector holding the lion's share, with their enhanced traits such as herbicide tolerance and insect resistance revolutionizing the market. This segment leads the innovations in the sphere of crop productivity and protection.
Segmentation Insights
The breakup of the global agroscience market, based on product, along with an individual analysis of segments like GM seeds, biopesticides, and biostimulants, provides an in-depth understanding of market dynamics.
Detailed analyses of regional markets such as North America, which holds the majority of the market share, alongside Asia Pacific, Europe, Latin America, and the Middle East and Africa, are included in the report.
Key Market Drivers and Opportunities
Central to the discussion are the key market drivers including rising global population, escalating food demands, and governmental support through policies and subsidies. At the same time, the report sheds light on the opportunities amidst challenges such as climate uncertainties, pests, diseases, and regulatory landscapes impacting the utilization of genetically modified organisms.
The insightful compilation articulates a cohesive competitive landscape, highlighting leading companies that are engaged in strategic innovations, research, and sustainability initiatives to stay ahead in the agroscience sector.
Companies Featured
- Agrinos Inc.
- Nutrien
- Arysta LifeScience Corporation (United Phosphorus Ltd.)
- BASF
- Bayer
- Corteva Agriscience
- Novozymes (Novo A/S)
- Sumitomo Chemical
- Syngenta (ChemChina)
For more information about this report visit https://www.researchandmarkets.com/r/6nlzqy
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
