New York, June 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "AgroScience Global Market Report 2022" - https://www.reportlinker.com/p06284273/?utm_source=GNW
Ltd, GNP AGROSCIENCES PVT. LTD, Himalaya Agro Science, Green Earth Agro Science, Sigma Agriscience, Eurofins Scientific, and Arysta LifeScience.
The global agroscience market is expected to grow from $203.81 billion in 2021 to $216.6 billion in 2022 at a compound annual growth rate (CAGR) of 6.3%. The market is expected to grow to $263.17 billion in 2026 at a compound annual growth rate (CAGR) of 5.0%.
The agroscience market consists of sales of agroscience products by entities (organizations, sole traders, and partnerships) that are used in agricultural products production and processing.This includes the products used in soil cultivation, crop cultivation, animal production, and also the processing of agricultural products for human consumption and use.
It also offers the transformation of primary product to final product such as production, preservation, and packaging to be used by the end-user.
The main types of agroscience are biopesticides, bio stimulants, and GM seeds.The biopesticides market consists of sales of biopesticides products by entities (organizations, sole traders, and partnerships) that refer to certain types of pesticides derived from natural materials such as animals, plants, bacteria, and certain minerals.
They are sourced out of acid-based bio stimulants and extract-based bio simulants, and used in crops, food and vegetable applications.
North America was the largest region in the agroscience market in 2021.North America is expected to be the largest market in agroscience market.
The regions covered in the agroscience market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing adoption of sustainable agriculture is expected to propel the growth of the agroscience market.The agricultural communities across the globe are shifting towards sustainable agricultural practices, to preserve and restore critical habitats, help protect watersheds, and improve soil health and water quality.
For instance, in October 2021, the Agoro Carbon Alliance, the first sustainable agriculture program backed by Yara, one of the global agriculture leaders in crop nutrition, has been launched in India.Agoro Carbon Alliance aims to create a more sustainable and profitable food future.
Therefore, the growing adoption of sustainable agriculture is driving the growth of the agroscience market.
Strategic partnerships and collaborations are a key trend gaining popularity in the agroscience market.The key players in the agroscience market are expanding their research and development activities through strategic collaborations and partnerships with relevant players in the market.
For instance, In April 2021, Corteva Agriscience, a US-based agricultural chemical, and seed company collaborated with a USA-based biotechnology company Ginkgo Bioworks. As part of the collaboration, Ginkgo’s cell engineering platform and DNA codebase are being combined with Corteva’s natural product development and agricultural expertise to explore the next generation of organically inspired sustainable solutions.
In October 2020, American Vanguard, an American producer of agrochemicals and pesticide delivery systems acquired Agrinos in USA-based biological crop inputs supplier and developer of biological crop input technologies for an undisclosed amount. Through the acquisition, American Vanguard is aiming to capitalize on the strong market demand for sustainable crop production as well as the Agrinos portfolio will complement American Vanguard’s Green plants liquid nutrition products which have enjoyed successful growth in Central American market.
The countries covered in the agroScience market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284273/?utm_source=GNW
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