Latest News- Agroscience Market: Genetically modified seeds is expected to lead the Product segment during 2024-2028

The Agroscience Market is being driven by Shrinking arable land

The Agroscience Market is expected to grow at a CAGR of 15.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 46795.3 million. In the context of the agroscience market, the pressing demands of a growing global population and dwindling arable land necessitate innovative and advanced agricultural production solutions. New breeding technologies are at the forefront of addressing these challenges, with the potential to enhance yields and prolong crop lifespan. Among these advancements are Cisgenesis, which involves gene transfer between the same or closely related species; Intragenesis, the reorganization and insertion of a gene's coding region from the same species; Targeted mutagenesis, utilizing techniques like zinc-finger nuclease or transcription activator-like effector nuclease to modify genes; and various short-term recombinant DNA techniques, such as oligonucleotide-directed mutagenesis and agroinfiltration. Furthermore, emerging techniques like RNA-induced DNA methylation gene silencing, reverse breeding, and grafting a non-GM scion onto a GM rootstock are also making strides in the agroscience industry. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Genetically modified seeds
  • Biopesticides
  • Biostimulants
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • APAC
    • China
    • India
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
    • Argentina
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Shrinking arable land
• Introduction of biopesticides
• Growing adoption of sustainable agriculture

However, the market also witnesses some limitations, which are as follows:

• Challenges associated with plant breeding
• Slow adoption in developing economies
• Lack of education and qualification among farmers

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Market Scope in Agroscience Market Research Report

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Research Analysis Overview

The Global Agroscience Market encompasses innovative solutions for enhancing Food Demand through Sustainable Farming Practices. It focuses on improving Crop Yields in the face of Climate Change using Precision Agriculture, Biopesticides, Genetically Modified Crops, Seeds, Crop Protection Products, Fertilizers, and Biotechnology Products. Field Crops, Fruits, and Vegetables, Fiber Production, Agronomy, Soil Science, Horticulture, and Crop Production Systems are key sectors. Biostimulants, GM seeds, Active ingredients, Acid-based biostimulants, and Extract-based biostimulants are essential components. Agroscience advances Agricultural Productivity via Crop Protection, Crop Genetics, Soil Health, and addresses Herbicide Resistance, Insect Resistance, Nutritional Profiles, and Sustainable Food Production. Big data and IoT devices are revolutionizing Agroscience with their integration.

Market Research Overview

The Agroscience sector encompasses businesses engaged in the production of seeds, crop protection products, biopesticides, fertilizers, biotechnology products, and farm machinery. According to Technavio, the global Agroscience market's expansion is attributed to several key drivers. These include the introduction of innovative products, such as genetically modified crops and precision agriculture solutions, to meet escalating food demand and address climate change challenges. Vendors are continually launching new offerings in field crops, fruits and vegetables, ornamentals and turf, and livestock machinery to cater to evolving farmer needs. This dynamic market landscape underscores the importance of sustainable farming practices and the adoption of advanced technologies, such as precision agriculture and biotechnology, to optimize crop yields and improve overall agricultural productivity.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/