Global Agroscience Market Overview
Agroscience Market Size was estimated at 54.97 (USD Billion) in 2022. The Agroscience Industry is expected to grow from 57.31(USD Billion) in 2023 to 83.4 (USD Billion) by 2032. The Agroscience Market CAGR (growth rate) is expected to be around 4.26% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Agroscience Market Trends Highlighted
Key market drivers include the growing population and the increasing demand for safe, affordable, and nutritious food. Additionally, the adoption of sustainable farming practices and the need to improve crop yields in the face of climate change are driving the agroscience market.Opportunities to be explored or captured include the development of new technologies and products such as precision agriculture, biopesticides, and genetically modified crops. Additionally, the expansion of the agroscience market into developing countries presents significant growth opportunities.In recent times, there has been a growing trend towards the adoption of sustainable farming practices. This is due to the increasing awareness of the environmental impacts of agriculture and the need to protect natural resources. As a result, there is a growing demand for agroscience products and services that can help farmers reduce their environmental footprint.
Agroscience Market Drivers
Increasing Demand for Sustainable Agricultural Practices
The growing awareness of the environmental impact of conventional farming practices is driving demand for sustainable alternatives. Agroscience companies are developing innovative solutions that help farmers reduce their reliance on synthetic fertilizers and pesticides while also improving soil health and crop yields. These solutions include precision agriculture technologies, biological crop protection products, and improved crop varieties. The adoption of sustainable agricultural practices is expected to be a major driver of growth in the Agroscience Market Industry over the coming years.
Rising Food Demand and Population Growth
The world's population is expected to continue to grow in the coming years, putting a strain on the food supply. Agroscience companies are playing a vital role in meeting this demand by developing new technologies that increase crop yields and improve food quality. These technologies include genetically modified crops, improved irrigation systems, and new crop protection products. The rising demand for food is expected to be a major driver of growth in the Agroscience Market Industry over the coming years.
Government Support for Agricultural Research and Development
Governments around the world are recognizing the importance of agricultural research and development in ensuring food security and sustainability. They are providing funding and support for agriscience companies to develop new technologies and products that can help farmers improve their productivity and reduce their environmental impact. This support is expected to continue to be a major driver of growth in the Agroscience Market Industry over the coming years.
Agroscience Market Segment Insights
Agroscience Market Type Insights
The Agroscience Market is segmented by Type into Seeds, Crop Protection Products, Fertilizers, and Biotechnology Products. Seeds The seeds market is projected to reach USD 120 billion by 2024, growing at a CAGR of 5.2%. The growth of the market is attributed to the increasing demand for high-quality seeds, the adoption of genetically modified seeds, and the rising awareness of the importance of seed health. Crop Protection Products The crop protection products market is projected to reach USD 75 billion by 2024, growing at a CAGR of 4.5%.The growth of the market is attributed to the increasing demand for crop protection products due to the rising incidence of pests and diseases, the need for higher crop yields, and the growing adoption of sustainable farming practices. Fertilizers The fertilizers market is projected to reach USD 220 billion by 2024, growing at a CAGR of 3.6%. The growth of the market is attributed to the increasing demand for fertilizers due to the rising population and the need for higher crop yields. Biotechnology Products The biotechnology products market is projected to reach USD 45 billion by 2024, growing at a CAGR of 6.1%.The growth of the market is attributed to the increasing demand for biotechnology products due to the rising adoption of genetically modified crops and the growing awareness of the benefits of biotechnology products.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Agroscience Market Application Insights
The Agroscience Market is segmented by application into field crops, fruits and vegetables, ornamentals and turf, and cereals and grains. This growth is attributed to the increasing demand for food and fiber, as well as the rising adoption of precision farming techniques. The fruits and vegetables segment is expected to be the second-largest segment in 2023 and is projected to grow at a CAGR of 4.5% from 2023 to 2032. This growth is attributed to the increasing demand for fresh produce, as well as the growing popularity of organic farming.The ornamentals and turf segment is expected to be the third-largest segment in 2023 and is projected to grow at a CAGR of 4.1% from 2023 to 2032. This growth is attributed to the increasing demand for landscaping and gardening products, as well as the growing popularity of golf and other outdoor sports. The cereals and grains segment is expected to be the fourth-largest segment in 2023 and is projected to grow at a CAGR of 4.0% from 2023 to 2032. This growth is attributed to the increasing demand for food and feed, as well as the growing popularity of biofuels.
Agroscience Market Production Method Insights
The Agroscience Market segmentation by Production Method includes Conventional, Organic, Hydroponic, and Aeroponic methods. Conventional farming, which employs traditional soil-based cultivation practices and synthetic inputs like pesticides and fertilizers, holds the dominant market share. However, the demand for organic farming is rising due to growing consumer awareness about the health benefits and environmental sustainability. Organic farming practices emphasize natural inputs such as compost and crop rotation to maintain soil health and reduce chemical dependency.Hydroponic and aeroponic methods, which involve growing plants in nutrient-rich water solutions or air, respectively, are gaining traction due to their space efficiency, controlled environment, and higher yields. The Agroscience Market revenue for the Production Method segment is projected to witness significant growth in the coming years, driven by increasing demand for sustainable and efficient farming practices.
Agroscience Market Distribution Channel Insights
The Agroscience Market segmentation by Distribution Channel includes Direct Sales, Third-Party Distributors, Online Marketplaces, and Retailers. In 2023, Direct Sales held the largest revenue share of over 44.46% due to the strong relationships and control over distribution channels. Third-party distributors are projected to have the highest CAGR of 5.67% during 2024-2032, owing to their extensive reach and cost-effectiveness. Online Marketplaces are gaining traction due to convenience and wide product offerings, while Retailers play a crucial role in reaching local and regional markets.
Agroscience Market End User Insights
The Agroscience Market Segmentation by End User comprises Farmers, Commercial Growers, Home Gardeners, and Professional Landscapers. Among these, Farmers held the largest market share in 2023, accounting for over 60% of the Agroscience Market revenue. This dominance is attributed to the increasing adoption of advanced farming practices and the need for higher crop yields to meet the rising food demand. Commercial Growers are also significant contributors to the market, with a focus on maximizing crop yields and quality for commercial purposes.Home Gardeners and Professional Landscapers represent smaller but growing segments, driven by the increasing popularity of home gardening and landscaping activities. The market growth is expected to be fueled by the rising demand for sustainable and efficient agricultural practices, leading to increased adoption of agroscience solutions across all end-user segments.
Agroscience Market Regional Insights
The Agroscience Market exhibited a robust performance in 2023, with the market valued at 57.31 USD Billion. This growth is attributed to increasing demand for sustainable and efficient farming practices, coupled with rising concerns over food security. Regionally, North America accounted for the largest share of the Agroscience Market revenue, owing to the presence of major agricultural industries and a strong regulatory framework. Europe followed closely, driven by government initiatives to promote sustainable agriculture and innovation in the sector.The APAC region is expected to witness significant growth in the coming years, fueled by rising agricultural productivity and government support for agroscience research. South America and MEA also hold potential for market growth due to their vast arable land and increasing investment in agricultural infrastructure.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Agroscience Market Key Players and Competitive Insights
Major players in the Agroscience Market industry are constantly striving to gain a competitive edge through strategic partnerships, acquisitions, and the development of innovative products and technologies. Leading Agroscience Market players are focused on expanding their reach and strengthening their market position through investments in research and development, as well as collaborations with other players in the value chain. The Agroscience Market development landscape is characterized by a high level of competition, with established players and emerging entrants vying for market share. Companies are adopting various strategies to differentiate themselves in the marketplace, including product innovation, strategic acquisitions, and targeted marketing campaigns.A major competitor in the Agroscience Market industry is BASF. The company has a strong presence and offers a comprehensive portfolio of crop protection products, seeds, and traits. BASF is known for its commitment to innovation and sustainability, and has invested heavily in research and development to bring new products to market. The company's broad product portfolio and reach give it a competitive advantage in the Agroscience Market.Another prominent competitor in the Agroscience Market is Bayer Crop Science. The company is a leader in the development, production, and marketing of crop protection products, seeds, and traits. Bayer Crop Science has a strong track record of innovation and has developed a number of successful products that have helped farmers improve crop yields and protect their crops from pests and diseases. The company's reach and strong product portfolio give it a competitive edge in the Agroscience Market.
Key Companies in the Agroscience Market Include
- Corteva, Inc.
- Sumitomo Chemical Co., Ltd.
- Adama Agricultural Solutions Ltd.
- Solvay
- FMC Corporation
- Bayer AG
- Arkema SA
- Nufarm Limited
- CF Industries Holdings, Inc.
- Yara International ASA
- Syngenta AG
- BASF SE
- The Mosaic Company
- OCP Group
Agroscience Market Industry Developments
The agroscience market is projected to grow from USD 57.31 billion in 2023 to USD 83.4 billion by 2032, exhibiting a CAGR of 4.26% during the forecast period. This growth can be attributed to rising demand for food, increasing awareness about crop protection, and technological advancements in the agriculture sector. Key recent developments in the agroscience market include the launch of new products, such as Corteva Agriscience's new Enlist herbicide, and collaborations between industry players, such as the partnership between BASF and Bayer to develop new crop protection solutions. Furthermore, government initiatives to promote sustainable agriculture practices are expected to drive market growth in the coming years.
Agroscience Market Segmentation Insights
- Agroscience Market Type Outlook
- Seeds
- Crop Protection Products
- Fertilizers
- Biotechnology Products
- Agroscience Market Application Outlook
- Field Crops
- Fruits and Vegetables
- Ornamentals and Turf
- Cereals and Grains
- Agroscience Market Production Method Outlook
- Conventional
- Organic
- Hydroponic
- Aeroponic
- Agroscience Market Distribution Channel Outlook
- Direct Sales
- Third-Party Distributors
- Online Marketplaces
- Retailers
- Agroscience Market End User Outlook
- Farmers
- Commercial Growers
- Home Gardeners
- Professional Landscapers
- Agroscience Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
54.97(USD Billion) |
| Market Size 2023 |
57.31(USD Billion) |
| Market Size 2032 |
83.4(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.26% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Corteva, Inc., Sumitomo Chemical Co., Ltd., Adama Agricultural Solutions Ltd., Solvay, FMC Corporation, Bayer AG, Arkema SA, Nufarm Limited, CF Industries Holdings, Inc., Yara International ASA, Syngenta AG, BASF SE, The Mosaic Company, OCP Group |
| Segments Covered |
Type, Application, Production Method, Distribution Channel, End User, Regional |
| Key Market Opportunities |
1 Precision Agriculture Adoption2 Growing Demand for Sustainable Solutions3 Ecommerce Penetration in Agribusiness4 Genetically Modified Crops Expansion5 Rise of Biopesticides amp Biostimulants |
| Key Market Dynamics |
Increased crop yields Technological advancements  Growing demand for sustainable farming practices  Expansion into emerging markets  Government regulations |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Agroscience Market size is estimated to be valued at USD 57.31 billion in 2023 and is projected to reach USD 83.4 billion by 2032, exhibiting a CAGR of 4.26% during the forecast period.
North America, Europe, and Asia-Pacific are the dominant regions in the Agroscience Market. Asia-Pacific is projected to be the fastest-growing region, owing to the increasing adoption of precision farming techniques and government initiatives to promote sustainable agriculture.
Crop protection, seed treatment, and animal health are the primary applications driving the demand for Agroscience products. Crop protection products, including pesticides, herbicides, and fungicides, account for the largest share of the market.
Key competitors in the Agroscience Market include Bayer, Corteva Agroscience, BASF, Syngenta, FMC Corporation, Sumitomo Chemical, UPL, and Nufarm.
Factors such as the rising population, increasing demand for food, and the need for sustainable agriculture practices are driving the growth of the Agroscience Market. Additionally, technological advancements in crop protection and seed treatment are contributing to market growth.
Challenges faced by the Agroscience Market include regulatory hurdles, environmental concerns, and the development of resistance to pesticides and herbicides. Stringent regulations and the need for sustainable practices pose challenges to market growth.
Emerging trends in the Agroscience Market include the adoption of digital agriculture, precision farming techniques, and the use of biopesticides and biofertilizers. These trends are driven by the need for increased productivity, sustainability, and reduced environmental impact.
Key opportunities for growth in the Agroscience Market lie in the development of novel crop protection solutions, the expansion into emerging markets, and the integration of artificial intelligence and data analytics in agricultural practices.
The Agroscience Market is projected to grow at a CAGR of 4.26% from 2023 to 2032, reaching a value of USD 83.4 billion by 2032.
The Agroscience Market is segmented by product type (crop protection, seed treatment, animal health, and others), application (field crops, fruits and vegetables, and others), and region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
