New York, United States , July 18, 2024 (GLOBE NEWSWIRE) -- The Global Agricultural Input Market Size is to Grow from USD 320.42 Billion in 2023 to USD 503.17 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.6% during the projected period.
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Fertilizers, equipment, and seeds are examples of agricultural inputs that help address issues with food security by boosting agricultural productivity and output. A wide range of appealing materials, products, and services required for the production and development of crops and animals are referred to as agricultural inputs. In modern farming, these inputs are essential for improving crop quality, yield, and overall agricultural flexibility. Agrochemicals, seeds, farm equipment, fertilizers, pesticides, irrigation systems, and veterinary medications are all crucial parts of the agricultural input industry. The essential agricultural inputs that provide the foundation for crop production are seeds. Owing to the development of genetically modified organisms (GMOs) and hybrid kinds that are suited to specific environmental requirements and desirable traits, they have advanced significantly in recent years. Furthermore, the production of agricultural inputs is impacted by climate change and altered weather patterns. As unforeseen weather events become more frequent, farmers have concerns about controlling agriculture and livestock productivity. Farmers were able to reduce the impact of harsh weather on agricultural productivity and adjust to changing conditions with the help of innovative farming technologies and climate-resilient seeds. Furthermore, the production of genetically altered commodities and seeds has increased due to developments in biotechnology and genetic engineering. Features like insect resistance, drought tolerance, helping farmers increase crop resilience, output potential, and improved nutritional value are all included in these contemporary agricultural inputs. However, the development of sustainable agriculture is hampered by the excessive and disorganized use of agrichemical inputs, particularly fertilizers and pesticides, which pose a serious risk to human health and the environment.
Browse key industry insights spread across 220 pages with 115 Market data tables and figures & charts from the "Global Agricultural Input Market Size, Share, and COVID-19 Impact Analysis, By Type (Fertilizers, Seeds, Pesticides, Plant Growth Regulators, and Soil Conditioners), By Application (Big Enterprise, Farmers, Retailers, and Research Institutions), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The pesticides segment is anticipated to hold the greatest share of the global agricultural input market during the projected timeframe.
Based on the type, the global agricultural input market is divided into fertilizers, seeds, pesticides, plant growth regulators, and soil conditioners. Among these, the pesticides segment is anticipated to hold the greatest share of the global agricultural input market during the projected timeframe. Farmers' ongoing search for effective ways to shield their crops from weeds, pests, and diseases is driving up demand for agricultural inputs, particularly pesticides. Pesticides work by destroying harmful organisms that jeopardize agricultural productivity, thereby protecting crop yield and food security. Pesticides are anticipated to continue playing a significant role in modern agricultural operations due to the growing global population and the growing need to raise agricultural output.
The farmers segment is expected to grow at the fastest CAGR in the global agricultural input market during the projected timeframe.
Based on the application, the global agricultural input market is divided into big enterprise, farmers, retailers, and research institutions. Among these, the farmers segment is expected to grow at the fastest CAGR in the global agricultural input market during the projected timeframe. Due to their reliance on agricultural inputs to boost crop and livestock output, farmers have a broad appeal for these products. To increase yields and productivity in their fields, farmers require seeds, fertilizers, herbicides, and agricultural equipment. To meet the demands of an expanding global population, farmers rely on these inputs to boost productivity, reduce the danger of pests and diseases, and ultimately ensure a stable and sustainable food supply.
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Asia Pacific is expected to hold the largest share of the global agricultural input market over the forecast period.
Asia Pacific is expected to hold the largest share of the global agricultural input market over the forecast period. The Asia Pacific area has a significant demand for agricultural inputs due to its diverse and broad agricultural sector. Since a sizable portion of the world's population lives in this region, the demand for food production is rising. Asia Pacific farmers rely heavily on agricultural inputs such as pesticides, fertilizers, and seeds to increase crop yields, employ sophisticated farming techniques, and address the challenge of feeding a growing population.
North America is predicted to grow at the fastest pace in the global Agricultural Input market during the projected timeframe. There are multiple important reasons for this. Innovation in agricultural production, including seeds, fertilizers, and crop protection products, is being stimulated by technological advancements in precision agriculture, digital farming, and biotechnology. Significant investments and active research and development are supporting this progress.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Agricultural Input Market include Bayer Crop Science, BASF, Syngenta, Corteva Agriscience, Nutrien, Yara International, The Mosaic Company, Dow AgroSciences, UPL Limited, FMC Corporation, Sumitomo Chemical, K+S Group, ICL Group, and Others.
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Recent Developments
- In September 2023, to assist farmers in increasing their crop yields cost-effectively and sustainably, SABIC Agri-Nutrients Company (SABIC AN) partnered with two American companies, BIOWISH Technologies and ADM. Among the products offered by SABIC AN is a biologically improved urea fertilizer that was created in association with BIOWISH. Compared to conventional urea, this fertilizer emits fewer greenhouse gases. It may also increase atmospheric carbon dioxide sequestration into the soil, which would support more environmentally friendly and productive farming practices.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Agricultural Input Market based on the below-mentioned segments:
Global Agricultural Input Market, By Type
- Fertilizers
- Seeds
- Pesticides
- Plant Growth Regulators
- Soil Conditioners
Global Agricultural Input Market, By Application
- Big Enterprise
- Farmers
- Retailers
- Research Institutions
Global Agricultural Input Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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