Global agroscience market: Key market research findings
- Growing demand for high-quality nutritious food
- Increased application of soil fertility management practices
Technavio has added a new market research report on the global agroscience market, which is expected to grow at a CAGR of around 12% between 2015 and 2019. Increased demand for food across the globe has augmented the need for agroscience products, for improving the yield and quality of crops. North America dominates the global market, accounting for around 39% of the total market share. The developments in production enzymes using gene technology and acid-based biostimulants are encouraging the market growth in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
“Rise in disposable incomes across the globe have changed the food preference of people, resulting in increased demand for high-quality nutritious food such as beef, pork, turkey, and chicken. Such augmented demand for high-protein foods has spurred increased usage of agrochemicals like pesticides to enhance the quality and quantity of food products,” says Sriram Mohan, Lead Analyst, Chemicals & Materials, Technavio Research.
In recent times, soil fertility management practices are gaining traction in the market, thanks to the increasing loss of arable land and growing demand for food that necessitates crop yield efficiency. These practises involve conservation tillage, crop rotation and maximum use of fertilizers. Farmers are increasingly adopting soil management practices to enhance the quality and quantity of their agricultural production. Presently, soil fertility management practices are implemented on crops such as soybeans, maize, barley, and sugarcane.
Various governments and non-government are worldwide are concentrating to increase agricultural productivity to ensure food security and improve nutrition of the growing population. They are encouraging farmers to use biopesticides by offering them various schemes like providing subsidies or loans for buying crop protection products.
The leading vendors in the global agroscience market include Bioworks, Agrinos, Dow AgroSciences, Monsanto, Stoller USA, and Syngenta. The market is dominated by international providers. The other vendors are estimated to expand their presence worldwide during the forecast period.
A more detailed analysis is available in the Technavio report, Global Agroscience Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other Related Reports:
