AgroScience Global Market Report 2023
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LONDON, GREATER LONDON, UK, November 15, 2023 /EINPresswire.com/ — The global agroscience market is on a growth trajectory, with expectations to increase from $218.27 billion in 2022 to $235.67 billion in 2023, reflecting a robust compound annual growth rate (CAGR) of 8.0%. Despite the disruptions caused by the Russia-Ukraine conflict and the ongoing effects of the COVID-19 pandemic on the global economy, the market is projected to expand, reaching an estimated size of approximately $287.76 billion by 2027, driven by a CAGR of 5.1%.
Growing Adoption of Sustainable Agriculture Propels Market Growth
The agroscience market is experiencing substantial growth due to the widespread adoption of sustainable agriculture practices. Agricultural communities around the world are increasingly transitioning to sustainable farming methods, aiming to preserve and restore critical habitats, protect watersheds, and enhance soil health and water quality. For instance, in October 2021, the Agoro Carbon Alliance, the first sustainable agriculture program backed by Yara, a global leader in crop nutrition, was launched in India. The initiative seeks to create a more sustainable and profitable food future. This growing shift toward sustainable agriculture is a key driver propelling the growth of the agroscience market.
Explore comprehensive insights into the global agroscience market with a detailed sample report:
Segments of the Agroscience Market
The global agroscience market is segmented into specific categories to cater to diverse agroscience needs:
• By Product: Biopesticides, Biostimulants, GM Seeds
• By Active Ingredient: Acid-based biostimulants, Extract-based biostimulants
• By Application: Crops, Food & Vegetable
Regional Insights: North America Leads the Way, with Asia-Pacific Showing Promise
Key Players in the Agroscience Market
The agroscience market features a roster of major players actively shaping the industry’s future. Leading companies such as Agrinos Inc., Nutrien, Arysta LifeScience Corporation (United Phosphorus Ltd.), BASF, Corteva Agriscience, Novozymes (Novo A/S), BioWorks, Dow AgroSciences, DuPont, Biostadt, Koppert, Nufarm, Valent BioSciences, Valagro, AgBiTech, SRT Agro Science Pvt. Ltd., GNP AGROSCIENCES PVT. Ltd., Himalaya Agro Science, Green Earth Agro Science, Sigma Agriscience, Eurofins Scientific, and Arysta LifeScience are at the forefront of this dynamic sector.
Strategic Partnerships and Collaborations Drive Market Dynamics
A prominent trend in the agroscience market is the increasing focus on strategic partnerships and collaborations among key industry players. Companies operating in the agroscience market are actively seeking partnerships to bolster their research and development activities and develop innovative solutions. For example, in April 2021, Corteva Agriscience, a US-based agricultural chemical and seed company, collaborated with Ginkgo Bioworks, a US-based biotechnology company. This collaboration combines Ginkgo’s cell engineering platform and DNA codebase with Corteva’s natural product development and agricultural expertise to explore the next generation of organically inspired sustainable solutions.
In 2022, North America emerged as the largest region in the agroscience market. This trend is expected to continue, with North America anticipated to maintain its position as the largest market in the agroscience sector. The regions covered in the agroscience market analysis encompass Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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Agroscience Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Agroscience Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on agroscience market size, drivers and trends, major players, competitors’ revenues, market positioning, and growth across geographies. The agroscience market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Article originally published on www.einpresswire.com as Global Agroscience Market Poised for Growth, Expected to Reach $287.76 Billion by 2027