Farm Inputs Market Report: Industry Trends, Growth Forecast, and Competitive Landscape Analysis

The Business Research Company recently released a comprehensive report on the Global Farm Inputs Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The farm inputs market size has grown steadily in recent years. It will grow from $318.49 billion in 2023 to $330.60 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to increasing demand for eco-friendly products, increasing consumption and health-promoting factors, increasing prices of nitrogen, increasing sustainability concerns, and increasing focus on research and development.

The farm inputs market size is expected to see steady growth in the next few years. It will grow to $387.49 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to government policies and subsidies, international trade agreements, farm sizes and practices, infrastructure development and growth in smart agriculture. Major trends in the forecast period include enhanced fertilizer technology, advances in drip irrigation technology, smart seed technologies, genetically modified organisms (GMOs), and renewable energy integration.

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Market Drivers and Trends:

The growing need for food production is expected to propel the growth of the farm inputs market going forward. The rising need for food production is due to the increasing global population and the demand for diverse and sustainable food sources to ensure food security and nutritional well-being. Farm inputs, such as seeds, fertilizers, pesticides, water, and machinery, enhance food production by improving crop yields, protecting against pests and diseases, and optimizing the efficiency of farming operations. For instance, in July 2024, according to the Department for Environment, Food and Rural Affairs, a UK-based governmental department, the productivity of the food chain increased by 2.0%, while the broader economy saw a 2.6% rise. The total gross value added for the food chain amounted to $175.45 billion (£132.9 billion), with catering contributing the most at $57.30 billion (£43.4 billion) and wholesaling the least at $21.92 billion (£16.6 billion). Therefore, the growing need for food production is driving the growth of the farm inputs market.

Major companies operating in the farm inputs market are focusing on developing advanced plant protection solutions, such as high-end insecticides, to enhance agricultural productivity and sustainability. High-end insecticide refers to premium-grade pest control products that offer advanced efficacy and features compared to standard options. For instance, in July 2023, Syngenta India Private Limited, an India-based agrichemical company, launched Incipio and Simodi, designed for paddy, cotton, and vegetables across India and based on innovative PLINAZOLIN technology. It offers unique features such as broad-spectrum and long-lasting control against various pests, including stem borers, leaf folders, and lepidopteran insects, thereby enhancing crop yields and quality while reducing the number of required applications and overall costs for farmers.

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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

Koch Industries Inc., BASF SE, Saudi Basic Industries Corporation, Nutrien Ltd., Yara International ASA, Sumitomo Chemical Company Limited, The Mosaic Company, Cortev Inc., DowDuPont Inc., Syngenta Group AG, CF Industries Holding Inc., ICL Group Ltd., OCI Nitrogen B.V, Borealis AG, Sinochem International Corporation, Lanxess AG, K+S AG, UPL Limited, FMC Corporation, EuroChem Group AG, Coromandel International Limited, Nufarm Limited, PI Industries Limited, Sulphur Mills Limited

Farm Inputs Market 2024 Key Insights:

• The farm inputs market size is expected to see steady growth in the next few years. It will grow to $387.49 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%.
• Growing Need For Food Production Is Driving The Growth Of The Farm Inputs Market
• Innovative Solutions In Farm Inputs Enhanced Market Growth
• North America was the largest region in the farm inputs market in 2023

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