Agroscience Market by Product (Biopesticides, Biostimulants, Genetically Modified Seeds), Application (Crop, Food & Vegetables) - Global Forecast 2024-2030

Agroscience Market by Product (Biopesticides, Biostimulants, Genetically Modified Seeds), Application (Crop, Food & Vegetables) - Global Forecast 2024-2030

The Agroscience Market size was estimated at USD 240.00 billion in 2023 and expected to reach USD 256.61 billion in 2024, at a CAGR 7.20% to reach USD 390.57 billion by 2030.

Agroscience includes developing and utilizing scientific and innovative techniques in various fields, such as genetic engineering, biotechnology, environmental science, crop protection, plant breeding, soil science, and precision agriculture. Agroscience products help enhance productivity, optimize resource utilization, reduce environmental impacts, and ensure food security by addressing population growth and climate change challenges. Increasing global food demand due to population growth, shrinking arable land coupled with the need for higher yield rates is increasing the usage of agriscience products. Rising climate change implications on agricultural productivity and continuous technological advancements, including big data analytics and IoT devices in precision farming, drive the agroscience market growth. The availability of government initiatives promoting sustainable agriculture practices through R&D investments is expanding the scope of the market. The high cost of advanced agricultural technologies for smallholder farmers, social resistance towards genetically modified organisms (GMOs), and data privacy & security concerns arising from the digitalization of farm records are hampering the market growth. The rising introduction of bioinformatics tools supporting genomics and breeding technologies for crop improvement and eco-friendly biopesticides is expected to create opportunities for market growth.

Regional Insights

The American market for agroscience is characterized by large-scale farming operations that prioritize efficiency, yield maximization, and sustainable practices. Farmers in the region rely heavily on advanced technologies such as precision agriculture tools, genetically modified seeds, and digital platforms for data-driven decision-making. The presence of substantial agricultural land areas with ongoing favorable government initiatives to improve crop productivity and meet the customers' demand encourages the agroscience market in the Americas. The countries in the Asia-Pacific, including China, India, Indonesia, Bangladesh, Japan, and others, have soaring demand for agriculture and food products due to the high population and contain a large percentage of land suitable for agriculture. The existence of a high percentage of agricultural land in Asia-Pacific creates considerable demand for agroscience products to enhance the productivity of the agricultural output. The European region spans a vast diversity of agroecological environments that ease the production of diverse crops; however, it is accompanied by various plant health challenges. The unpredictable climate change in Europe results in shifts in the composition of threats and enhanced risks of spreading pests across the region, subsequently driving the demand for agroscience products in EMEA.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Agroscience Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising global demand for food due to an increasing population globally
• Government initiatives promoting sustainable agriculture practices through R&D investments
• Growing climate change implications on agricultural productivity

Market Restraints

• Data privacy & security concerns arising from digitalization of farm records/agricultural information systems

Market Opportunities

• Growing development of eco-friendly biopesticides/biofertilizers to reduce dependency on synthetic chemicals
• Rising integration of vertical farming systems and controlled environment agriculture (CEA) technologies

Market Challenges

• Social resistance towards genetically modified organisms (GMOs)

Market Segmentation Analysis

• Product: Expanding the usage of biopesticides and biostimulants with growing climate changes
• Application: Proliferating usage of agroscience products for crop protection

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Agroscience Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Agroscience Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

VARO increases stake in agro-science leader SilviCarbon and announces issuance of high-quality carbon removal credits to customers

VARO Energy has increased its shareholding in SilviCarbon, a renowned leader in agro-science, and the company holds a majority stake of 59.8%, up from the previous 51%. This strategic investment gives VARO Energy a stronger foothold in the rapidly growing voluntary credits market and enables SilviCarbon to expand its coverage of crucial forestry assets.

Illumina expands genomics capabilities in India with opening of Solutions Center

Illumina Inc. opened a new office and state-of-the-art Illumina Solutions Center in Bengaluru, India, in collaboration with channel partner Premas Life Sciences. The office continues to work closely with Premas to grow the genomics market in India, unlocking opportunities for advancing healthcare and combating climate change in South Asia. With these advancements, Illumina aims to continue its commitment to innovation and drive progress in agroscience.

Corteva Agriscience Completes Acquisitions of Symborg and Stoller

Corteva, Inc. has acquired Symborg and Stoller to solidify its position as a global leader in the rapidly expanding Biologicals market. The acquisitions reinforce Corteva's commitment to providing farmers with sustainable tools that support the evolution of farming practices. Corteva's dedication to advancing agroscience remains unwavering as they continue to offer innovative solutions to farmers worldwide.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Agroscience Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Agroscience Market, highlighting leading vendors and their innovative profiles. These include Adama Ltd., American Vanguard Corporation, Bayer AG, Biobest Group, Bioline AgroSciences Ltd., Coromandel International Limited, DuPont de Nemours, Inc., Euro Agro Science, Eurofins Scientific SE, FMC Corporation, Godrej Agrovet Limited, Jain Irrigation Systems Ltd., Kaveri Seed Company Ltd, Koppert Biological Systems Inc., llumina Inc., Mitsumi Agriscience Pvt. Ltd., Nissan Chemical Corporation, Novozymes A/S, Nutrien Ltd., Oasis Agroscience Limited, Sigma Agriscience, LLC, Syngenta Crop Protection AG by China National Chemical Corporation, TeselaGen Biotechnology Inc., UPL Limited, and VARO Energy.

Market Segmentation & Coverage

This research report categorizes the Agroscience Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Product
• Biopesticides
• Biostimulants
• Genetically Modified Seeds
• Application
• Crop
• Food & Vegetables
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

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