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The agroscience market share is expected to increase by USD 24.02 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 11.75%.
This agroscience market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the agroscience market segmentation by product (genetically modified (GM) seeds, biopesticides, and biostimulants) and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The agroscience market report also offers information on several market vendors, including BASF SE, ADAMA Ltd., AgBiTech Pty Ltd., Agrinos AS, Andermatt Group AG, Arysta LifeScience Corp., Bayer AG, Biostadt India Ltd., BioWorks Inc., Corteva Inc., FMC Corp., Koppert Biological Systems, Novozymes AS, Nufarm Ltd., Nutrien Ltd., Stoller Group, Sumitomo Chemical Co. Ltd., Syngenta Crop Protection AG, VALAGRO Spa, and Valent BioSciences LLC among others.
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The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the agroscience market.
Key Agroscience Market Driver
The shrinking availability of arable land is one of the key drivers supporting the agroscience market growth. Developing countries have witnessed a surge in demand for agroscience followed by rising concerns over the declining availability and size of arable land. Furthermore, the food preferences of people in APAC, especially in countries such as China and India, have shifted from a grain-based diet to a protein-rich diet. The proper use of agroscience can help produce high-quality grains with a minimal loss in yield. Thus, the shrinking availability of arable land will drive the demand for agroscience to increase agricultural production, as well as to improve the quality of agricultural products. Such factors will propel the growth of the market during the forecast period.
Key Agroscience Market Trend
Technological improvements leading to efficient methods of agriculture are one of the key agroscience market trends contributing to the market growth. Scientists involved in agroscience-related R&D have developed new breeding techniques to improve the quality of crop yields. For instance, in June 2021, a company named Simplot developed a new potato variant, Simplot Innate Potato Event Gen2-Z6, which has no foreign DNA and uses RNA to reduce the enzyme level of polyphenol oxidase. This variant of potato, with reduced bruising and browning, has been approved by the US Department of Agriculture and the US Food and Drug Administration. Moreover, genetic modifications improve crop yield by increasing fertilizer absorption capacity. Therefore, new technological advancements will drive the growth of the agroscience market during the forecast period.
Key Agroscience Market Challenge
Challenges associated with plant breeding are one of the factors hampering the agroscience market's growth. Primarily, Europe's agro scientists have been effectively blocked from scientific advancements by the innumerable compliance requirements related to GMO rules relative to the value of commodity crops, which places them at a competitive disadvantage in comparison to regions with more favorable regulations. Thus, such regulations and challenges associated with plant breeding are expected to hamper the growth of the market during the forecast period.
This agroscience market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global agroscience market as a part of the global agricultural and farm machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the agroscience market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the agroscience market encompasses successful business strategies deployed by the key vendors. The agroscience market is fragmented, and the vendors are deploying growth strategies such as product launches and development, expansions, partnerships, contracts, and acquisitions to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain and parent market of the agroscience market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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