Global Agricultural Nanotechnology Market - 2024-2031

Global Agricultural Nanotechnology Market - 2024-2031

Global Agricultural Nanotechnology Market reached US$ YYx billion in 2023 and is expected to reach US$ YYx billion by 2031, growing with a CAGR of YY% during the forecast period 2024-2031.

Nanotechnology in agriculture is the application of extremely small tools such as sensors, which can be used for agricultural development. Nanotechnology is a new revolution in industries and has the potential to bring about drastic changes in the agricultural industry. The development of new nanotech-based tools and equipment helps increase efficiency and overcome challenges faced by the agricultural industry.

Nanotech-based tools significantly benefit the agricultural sector. They aid in the early detection of diseases, improve plants’ ability to absorb nutrients, and promote molecular treatment of diseases. The implementation of nanotechnology in the form of small sensors and monitoring devices has created a positive impact on the future uses of precision farming methodologies.

The strong scientific foundation drives the development of the agricultural nanotechnology market in North America driving its dominance. The region boasts a robust research and development infrastructure with leading academic institutions, research organizations and technology companies driving innovation in nanotechnology.

Dynamics

Advanced Technology for Sustainable Farming to Increase Yield

Nanotechnology plays an integral part in crop production with the help of controlling nutrients, monitoring water quality and using pesticides. Sustainable development in agriculture improves food quality with a view to the future. Nanoparticle technology helps in developing a sustainable environment and also supports in management of resources for agriculture. Fertilizers, herbicides and pests controlling nanoparticles help in maintaining soil fertility.

Nanoparticles such as carbon dots, graphene oxide and fullerenes are used for the improvement of seed quality. The study on the implication of nanotechnology in the agricultural sector has become an essential factor for sustainable development. Government investment and initiatives to adopt modern agricultural technology due to increasing population, rising demand for food products and increasing awareness in consumers towards food safety are growing the market.

Presence of Major Market Players

The nanotechnology market has expanded substantially in the agriculture sector. Research has been carried out in the commercial agrochemical sector to gauge the potential advantages of nanotechnology in agriculture. The emergence of nanotechnology applications in consumer products has also increased the number of ethical and societal concerns in some countries, which include health and environmental safety, consumer perception and intellectual property rights.

The global agricultural nanotechnology market is driven by existing agrochemical companies as they are investigating the potential of nanotechnologies to achieve high efficiency and greater penetration of technology into agricultural components used for plants. Various nano-products specifically used in the agricultural sector have been launched by technology-oriented mid-sized companies that produce soil-enhancement products that promote even water distribution, storage, and consequently water saving.

Lack of Knowledge about Agricultural Nanotechnology

Nanotechnology involves working at an incredibly small scale, which can be challenging for those unfamiliar with it. Understanding how to apply nanomaterials in agriculture requires a grasp of both nanoscience and agricultural science. Without adequate knowledge about agricultural nanotechnology, companies may struggle to effectively market their products and demonstrate their value proposition to potential customers.

Information about agricultural nanotechnology may not be readily available or easily accessible to farmers, policymakers and other stakeholders. This can lead to a lack of awareness about its benefits and potential applications. Farmers and agricultural stakeholders may be hesitant to adopt nanotechnology-based solutions if they don't fully understand how these technologies work or the potential benefits they offer, hindering the market growth.

Segment Analysis

The global agricultural nanotechnology market is segmented based on type, application, end-user and region.

Increase Nutrient Use Efficiency Thorugh Nano Fertilizers

The global agricultural nanotechnology market is segmented based on nano pesticides, nano herbicides, nanomaterials, nano fertilizers, nano biosensors and others. The nano fertilizers accounted for the largest share. Nano fertilizers promote the slow and steady liberation of nutrients by enhancing the productivity of the soil. They increase nutrient use efficiency and decrease the loss of nutrients which enhances market growth.

Nano fertilizers are the most promising engineered elements experimented with for soil. Positive outcomes have been achieved using nano fertilizers. Nano fertilizers can be classified as nanoscale fertilizers, nanoscale additives, and nanoscale coatings. Enhancement in the photosynthetic function in plants produced due to increased availability of nutrients leads to high yield and dry matter production. The use of nano fertilizers proves helpful as it decreases the frequency of utilization of chemical fertilizers.

Geographical Penetration

Greater Technological Advancements in North America

North America leads the global agriculture nanotechnology market with the highest share, as many countries such as United States and Canada are the initial adopters of agriculture nanotechnologies. The surge in population is compelling a shift towards smart agriculture practices in North America.

North America's diverse agricultural landscape, ranging from large-scale commercial farms to niche speciality crops, presents ample opportunities for deploying nanotechnology-enabled solutions to address specific challenges such as pest management, soil health, and crop productivity. The region’s leadership in digital agriculture and precision farming technologies synergizes with nanotechnology, offering integrated solutions for improving farm profitability.

Competitive Landscape

The major global players in the market include Migrow Agro Products, Annadata Organic, Indogulf BioAg LLC, Ray Nano Science & Research Center, ARIHANT CHEMICAL INDUSTRIES, AgriTechHub, Aqua-Yield Operations, LLC., AGNPCLEAN, Shanghai Xinglu Chemical Technology Co., Ltd and Coromandel International Limited.

COVID-19 Impact Analysis

The COVID-19 pandemic had a moderate impact on the global agricultural nanotechnology market. The pandemic has accelerated the deployment of nanotechnology in the agriculture sector. Manufacturing of components witnessed a considerable slowdown during the coronavirus crisis to curb the infection spread.

However, with numerous challenges including supply chain disruption, and shortage of labor, farm owners may have also come to realize that automation could be the key to solving some of the problems in case of any future disruptions. Amid widespread disruption caused by the pandemic, agriculture companies applying nanotechnology to farming could record significant benefits.

By Type
• Phosphotidylserine
• Phosphotidylcholine
• Others

By Source
• Soy
• Sunflower
• Egg
• Others

By Functionality
• Emulsifying
• Wetting & Dispersion
• Thickening & Gelling
• Nutrient Delivery

By Application
• Food & beverage
• Nutraceutical Supplements
• Pharmaceuticals
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In January 2024, Zuari Farmhub Ltd unveiled its nano fertilizers as Nano Shakti Nano Urea and Nano Shakti Nano DAP.
• In April 2023, Amit Shah, Cooperation Minister of India launched IFFCO's nano DAP fertiliser for commercial sale.
• In May 2022, PM Narendra Modi inaugurated the world’s first nano urea liquid plant by Indian Farmers’ Fertilizer Cooperative Limited at Kalol in Gujarat.

Why Purchase the Report??
• To visualize the global agricultural nanotechnology market segmentation based on type, application, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of agricultural nanotechnology market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global agricultural nanotechnology market report would provide approximately 70 tables, 64 figures and 243 pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies