Agricultural Nanotechnology Market Size, Competitive Landscape and Market Forecast - 2029

The "Global Agricultural Nanotechnology Market" is predicted to reach at a high CAGR during the forecast period (2022-2029)

Nanotechnology in agriculture is the application of extremely small tools such as sensors, which can be used for agricultural development. Nanotechnology is a new revolution in industries and has the potential to bring about drastic changes in the agricultural industry. The development of new nanotech-based tools and equipment help increase efficiency and overcome challenges faced by the agricultural industry. Nanotech-based tools significantly benefit the agricultural sector; they aid in early detection of diseases, improve plant's ability to absorb nutrients, and promote molecular treatment of diseases. Implementation of nanotechnology in the form of small sensors and monitoring devices have created a positive impact on the future uses of precision farming methodologies.

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Market Dynamics:

Advanced technology for sustainable farming to increase yield

Nanotechnology plays an integral part in crop production with the help of controlling nutrients, monitoring water quality and using pesticides. Sustainable development in agriculture improves food quality with a view of the future. Nanoparticle's technology helps in developing a sustainable environment and also supports in management of resources for agriculture. Fertilizers, herbicides and pests controlling nanoparticles help in maintaining soil fertility. Nanoparticles such as carbon dots, graphene oxide and fullerenes are used for improvement of seed quality. Hence, study on the implication of nanotechnology in the agricultural sector has become an essential factor for sustainable developments. Government investment and initiatives to adopt modern agricultural technology due to increasing population, rising demand for food products and increasing awareness in consumers towards their food safety are growing the market.

Furthermore, the global agricultural nanotechnology market is driven by existing agro-chemical companies because they are investigating the potential of nanotechnologies to achieve high efficiency and greater penetration of technology into agricultural components used for plants. Various nano-products specifically used in the agricultural sector have been launched in the market by technology-oriented mid-sized companies that produce soil-enhancement products that promote even water distribution, storage, and consequently water saving. The nanotechnology market has expanded substantially in the agriculture sector. Research has been carried out in the commercial agro-chemical sector to gauge the potential advantages of nanotechnology in agriculture. Emergence of nanotechnology applications in consumer products has also increased the number of ethical and societal concerns in some countries, which include health and environmental safety, consumer perception, and intellectual property rights.
However, due to a lack of knowledge, farmers are not using nanotechnology in agriculture. Developing countries like India and China, where farmers use conventional methods for agriculture production, don't even know about nanotechnology use in farming.

Market Segmentation:

• By Type
o Nano pesticides
o Nano herbicides
o Nanomaterials
o Nano fertilizers
o Nano biosensors
o Others
• By Application
o Crop Production
o Soil Improvement
o Water Purification
o Plant Breeding
o Others
• By End User
o Farmers
o R&D Institutes
o Government Organization
o Others
• By Region
o North America
o Latin America
o Europe
o Asia Pacific
o Middle East, and Africa

Competitive Landscape:

The global agricultural nanotechnology market is highly fragmented with wide product differentiation. Large number of suppliers operating and product launches is intensifying the market competition. Companies such as Nanosys Inc, ASML Holding, Zyvex Labs, Oxford Instruments plc, Nanoco Group plc, and ThalesNano Inc. are some of the leading players in the market. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the growth of agricultural nanotechnology globally. NanoSpy, Inc. has launched Rapid Pathogen Detection Biosensors in 2017.

COVID-19 Impact:

Positive impact on the agricultural nanotechnology market

The COVID-19 pandemic has accelerated the deployment of nanotechnology in the agriculture sector. Manufacturing of components witnessed considerable slowdown during the coronavirus crisis to curb the infection spread. However, with numerous challenges including supply chain disruption, and shortage of labor, farm owners may have also come to realize that automation could be the key to solving some of the problems in case of any future disruptions. Amid widespread disruption caused by the pandemic, agriculture companies applying nanotechnology to farming could record significant benefits.

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https://www.datamintelligence.com/research-report/nanotechnology-in-drug-delivery-market

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This release was published on openPR.