Microirrigation: A Comprehensive Market Analysis

The microirrigation systems market is estimated at USD 10.4 billion in 2022 and is projected to reach USD 17.8 billion by 2028, at a CAGR of 9.4% from 2023 to 2028. Advancements in technology have significantly improved the efficiency and effectiveness of microirrigation systems. Automation and control systems allow for precise monitoring and management of water applications, ensuring optimal irrigation scheduling and reducing human error. Additionally, innovations in sensor technology, remote monitoring, and data analytics have enabled real-time monitoring of soil moisture levels, weather conditions, and crop water requirements, leading to improved irrigation management.

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Asia Pacific is estimated to be the fastest-growing region during the study period

Climate issues in the Asia Pacific area include irregular rainfall patterns, droughts, and heat waves. Microirrigation systems provide regulated and efficient water distribution, increasing resilience to severe climatic circumstances. Farmers may tune irrigation schedules and water applications to individual crop demands, allowing crops to endure and adapt to changing climatic circumstances. In some areas, irrigation water may include excessive quantities of salts, heavy metals, or other impurities. To eliminate these pollutants, microirrigation systems may be outfitted with filtration and purification devices, ensuring that plants receive clean water. Microirrigation improves crop health and yield by mitigating the negative impacts of inadequate water quality.

The plantation crops segment is projected as the fastest-growing segment during the research period

Plantation crops is the fastest-growing segment during the forecasted period. Tea, coffee, and cocoa are some of the majorly cultivated plantation crops. Plantation crops are well-known for producing a high yield per unit area. They are carefully selected and bred for maximum production, resulting in a large output of raw materials or finished goods. Plantation crops are generally cultivated continuously over a period of many years. These crops’ management practices, such as mulching, terracing, and contour plowing, assist to prevent soil erosion and preserve soil fertility.

Industrial user is estimated to be the fastest-growing segment during the review period

With growing concerns about environmental sustainability, industrial users are seeing the significance of implementing eco-friendly practices. Micro irrigation technologies support these goals by lowering water waste, reducing fertilizer and pesticide runoff, and increasing effective resource utilization. This makes them an appealing alternative for companies trying to lower their environmental footprint. Micro irrigation systems may now be monitored and controlled remotely thanks to technological advancements. Industrial users may get real-time data and alter irrigation parameters from anywhere using cell phones or computer-based programs. This remote accessibility improves convenience, efficiency, and management for enterprises with big or geographically scattered operations.

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Micro-sprinkler is estimated to be the fastest-growing segment during the forecast period

Micro sprinklers provide uniform water distribution across the field or garden. They can be strategically placed to cover specific areas or individual plants, ensuring that each plant receives an adequate amount of water. This precision helps in optimizing water usage and promotes healthy plant growth. In general, micro sprinkler systems function at lower pressures and flow rates than traditional sprinklers, resulting in decreased energy needs for water pumping.

Biorational Pesticides Offer Sustainable Alternative to Harmful Chemicals

The global biorational pesticides market will grow from USD 7.5 billion in 2023 to USD 15.1 billion by 2028, growing at a CAGR of 15.2% during the forecast period. The growing awareness about the harmful effects of synthetic pesticides on human health and the environment has led to a rising demand for biorational pesticides. Significant investments from both public and private sectors have been drawn to the expanding market potential of biorational pesticides. This influx of capital has played a crucial role in enabling the development and commercialization of novel biorational pesticide products which are sourced from botanical, microbial, and non-organic materials. Investment in research and infrastructure has further stimulated market growth, enhancing global accessibility of biorational pesticides for farmers.

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North America accounts largest share in the biorational pesticides market and witnessing growth due to tight regulations and limitations on the application of conventional chemical pesticides

The agricultural sector in North America is characterized by a variety of farming systems, including large-scale commercial operations and smaller organic and specialty crop farms. This diverse landscape creates favorable conditions for the utilization of biorational pesticides across a wide range of crops.

In North America, regulatory bodies have erected robust frameworks, rigorously scrutinizing the usage of conventional pesticides, fueled by apprehensions encompassing safety and environmental repercussions. These stringent measures have triggered a surge in the quest for biorational pesticides, esteemed for their perceived safety and eco-friendly attributes. A significant milestone unfolded when the U.S. Environmental Protection Agency (EPA) championed the cause of shielding children and agricultural workers from the perils of a hazardous pesticide with ties to enduring cognitive impairments.

Key Players

The key players in the biorational pesticides market include BASF SE (Germany), Bayer AG (Germany), UPL (India), FMC Corporation (US), Syngenta AG (Switzerland), Novozymes A/S (Denmark), Sumitomo Chemical Co., Ltd (Japan), Pro Farm Group Inc (US), Koppert (Netherlands), Valent BioSciences LLC (US), Gowan Company (US), Certis Biologicals (US), Biobest Group (Belgium), BIONEMA (UK), and Vestaron Corporation (US).

The botanical source of the biorational pesticides segment is driving the market due to simpler storage needs and broad-spectrum effect against insects, fungi, or other pests

Pesticides derived from plant sources or their extracts, known as botanical-based pesticides, frequently exhibit characteristics that enhance their stability during storage. These compounds, originating from plants, often possess inherent stability, mitigating rapid degradation or breakdown under standard storage conditions. This inherent stability contributes to an extended shelf life in comparison to certain microbial-based pesticides.

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Liquid formulation segment exhibits highest CAGR of 15.3%, driving biorational pesticides market growth

Liquid formulations of pesticides present distinct advantages over their dry counterparts, propelling their increased market demand. Their ease of application stands out as a primary factor, as liquids allow for more uniform spraying over large areas, ensuring enhanced coverage, particularly on uneven or densely foliated surfaces. This attribute facilitates efficient application, contributing to better pest management outcomes.

Feed Acidulants Market Growth, Trends, and Forecast (2023 – 2028)

The global feed acidulants market is estimated to be valued at USD 3.4 billion in 2023. It is projected to reach USD 4.7 billion by 2028, recording a CAGR of 6.2% during the forecast period. Some macroeconomic and microeconomic elements that have been prevalent in some important countries have had an impact on the global feed acidulants market. In terms of value sales, this would be strong enough to significantly influence the market during the predicted period. The rise in consumption of animal-based food, demand for a high protein diet, changing lifestyles, and consumption patterns drive the demand in the feed acidulants market.

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Propionic acid holds the largest market share for feed acidulants

Propionic acid is commonly used as a preservative in animal feed and grain due to its non-corrosive nature to farm equipment. It has received approval for use in food, beverages, and animal feed by various organizations, and is generally recognized as safe (GRAS) when utilized as an antimicrobial and flavoring agent in food, as well as a chemical preservative in feed. This has led to an increase in the use of propionic acid in various food products and has resulted in the growth of the feed acidulants market.

The pH control by function is the fastest-growing segment in the feed acidulants market

Feed acidulants are used to lower the pH of animal feed, which can improve nutrient availability, reduce microbial growth, and prevent spoilage. The pH control property of feed acidulants is critical in maintaining the overall health and well-being of animals, as well as the quality of their feed. Factors such as increasing animal health concerns, the rising demand for animal protein, and the implementation of regulations regarding the use of antibiotics in animal feed are driving the growth of the market.

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Asia Pacific is estimated to dominate the feed acidulants market

Asia Pacific holds the largest market share in the feed acidulants market. The growing focus on improving animal health and welfare is the key factor driving the market growth in this region. Additionally, the adoption of advanced feed technologies and the availability of cost-effective feed acidulant solutions are also contributing to the growth of the market in the Asia Pacific. Furthermore, the presence of major feed acidulant manufacturers in the region and the increasing investments in the animal feed industry is expected to further drive the market growth.

Recently, several companies in Asia Pacific have announced strategic partnerships to expand their presence in the feed acidulants market. In 2021, Renata has been appointed as the sole distributor for Nutrex feed additives in Bangladesh. Nutrex and Renata aim to provide farmers with high-value feed additives that will help them maximize animal performance through optimal digestion and gut health.

The key players in this market include BASF SE (Germany), Yara (Norway), Kemin Industries Inc. (US), Eastman Chemical Company (US), and DSM (Netherlands).

Aquaculture Industry Outlook: A Comprehensive Analysis of Global Market Dynamics

The global aquaculture products market is estimated to be valued at USD 39.7 billion in 2022. It is projected to reach USD 56.2 billion by 2027, recording a CAGR of 7.2% during the forecast period. Some macroeconomic and microeconomic elements that have been prevalent in some important countries have had an impact on the global aquaculture products market. In terms of value sales, this would be strong enough to significantly influence the market during the predicted period. The rise in consumer awareness, health consciousness, demand for high protein diet, changing lifestyles, and consumption patterns drive the demand in the aquaculture products market.

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Asia Pacific is estimated to dominate the aquaculture products market

The Asia Pacific region has been experiencing significant growth in the aquaculture products market in recent years. This is due to several factors, including the region’s large population and increasing disposable income, which is driving demand for seafood. In addition, the Asia Pacific region has favorable geographic conditions for aquaculture, with a long coastline, large rivers, and favorable weather conditions. The region is the largest producer of aquaculture products globally, accounting for over 90% of global aquaculture production. China is the largest producer of aquaculture products in the region, followed by India, Indonesia, and Vietnam. In recent years, there has been a shift towards higher value aquaculture products, such as shrimp, salmon, and tilapia, driven by changing consumer preferences and increasing health consciousness. As a result, the aquaculture products market in the Asia Pacific region is expected to continue its growth trajectory, offering significant opportunities for investors and businesses in this industry.

Key Players in the Market

The key players in this market include Pentair PLC (US), AKVA Group (Norway), Xylem Inc. (US) Aquaculture Equipment Ltd. (UK), and Aquaculture System Technologies LLC (US).

By species, aquatic animal segment is the fastest-growing segment in the aquaculture products market during the forecast period

The sales of fish products have seen a spike since last two decades globally. One of the main drivers of this growth is the increasing demand for seafood due to its high protein content and health benefits. Additionally, the rise in global population and food security has led to an increase in demand for seafood items. Technological advancements in aquaculture practices have also enabled the cultivation of a wider variety of aquatic animals, including high-value species such as shrimp, salmon, and tuna. These trends indicate a bright future for the aquatic animal market, with increasing demand and new opportunities for growth.

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By Culture, marine segment is projected to grow at the fastest rate during the forecast period

Marine aquaculture can be beneficial for both ecosystems and humans if it is managed within a broader framework that considers its impact on different ecosystem services, such as regulating, provisioning, habitat, and cultural services. Marine aquaculture includes a variety of activities and objectives, such as large-scale food production, specialized operations aimed at improving environmental outcomes or producing multiple species for various benefits, and the restoration of native species. By focusing on habitat restoration, creating jobs, and increasing food security, aquaculture can have a positive impact on ecological, economic, and social needs. Therefore, actively developing aquaculture to provide ecosystem services may generate more significant benefits.

Compound Feed Market to Hit $668.3 billion by 2028

The compound feed market is estimated at USD 541.2 billion in 2023 and is projected to reach USD 668.3 billion by 2028, at a CAGR of 4.3% from 2023 to 2028. The world’s population is steadily increasing, which leads to higher demand for food, including meat, dairy, and poultry products. Compound feed is an efficient way to provide essential nutrients to livestock and improve their growth and productivity. As standards of living improve in many developing countries, there is an increase in meat consumption. Livestock, such as poultry, pigs, and cattle, require compound feed for their optimal growth and production. This surge in meat consumption has led to a greater demand for compound feed. Compound feed is designed to optimize nutrient utilization and improve feed conversion efficiency in livestock. It allows for precise control of nutrient composition, ensuring that animals receive the necessary nutrients for their growth and development.

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The Asia Pacific region accounted for the largest share and fastest growing market, in terms of value, of the global compound feed market

The Asia Pacific region, comprising countries like China and India, holds 60% of the global population, amounting to around 4.3 billion people. This densely populated region has witnessed continuous population growth, resulting in an escalating demand for animal-derived products like meat, milk, and eggs. Consequently, there is an increased need for compound feed to sustain the growing demand for livestock and poultry production. As incomes rise and dietary preferences evolve, there is a notable shift towards greater consumption of animal protein, propelling the expansion of the livestock and poultry sectors and further driving the demand for compound feed.

Key Players in the Market

Major key players operating in the compound feed market Cargill, Inc. (US), ADM (US), Charoen Pokphand Foods (Thailand), New Hope Group (China), Land O’Lakes (US), Nutreco N.V (Netherlands), Alltech, Inc. (US), Guangdong Haid Group Co., Ltd (China), Weston Milling Group (Australia), and Feed One Co. (Japan).

The poultry in by livestock segment accounted for the largest share of the compound feed market in terms of value

Poultry, especially chicken, is one of the most widely consumed meats globally. The demand for poultry products, such as meat and eggs, is consistently high due to factors like affordability, versatility, and nutritional value. This high demand for poultry products drives the need for poultry compound feed. The compound feed market is influenced by the high demand for poultry products, including meat and eggs, which are widely consumed globally. Poultry, particularly chicken, stands out as one of the most popular meats, with a significant consumption rate per capita. According to the OECD, poultry meat consumption in 2022 reached 32 kg per capita, compared to 1.3 kg for sheep meat, 14.2 kg for beef and veal, and 22.8 kg for pork meat.

The cereals in by ingredient segment accounted for the largest share of the compound feed market in terms of value

Cereals are rich in carbohydrates and provide energy to animals. They also contain varying levels of protein, fiber, and essential minerals. Due to their nutritional composition, cereals serve as important sources of energy and nutrients in compound feed formulations. Cereal crops, such as corn and wheat, are widely grown and easily accessible in many parts of the world. Their availability in large quantities makes them a cost-effective option for inclusion in compound feed formulations. Thus, making them dominate the ingredients segment.

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The Impact of Agrochemicals Market Mergers & Acquisitions

The agrochemicals market mergers and acquisitions has a positive outlook at a global level due to the increase in different types of deals in the market like agreements, acquisitions, partnerships, mergers, etc., to cater to the increasing demand from the consumers. North America and Europe contributed a significant share to the overall agrochemicals mergers and acquisitions market, whereas Asia Pacific is projected to be the fastest-growing region. Both, developing and developed economies have a favorable market potential for agrochemicals, due to the increasing concerns regarding crop protection and pest infections.

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The deals for herbicides and crop protection chemicals segment are estimated to occupy the largest market share during the forecast period.

The herbicides and crop protection chemicals segment is estimated to hold the largest market share in the agrochemicals mergers and acquisitions market. Moreover, increasing awareness among consumers regarding better crop protection and increased productivity is encouraging the key players in the market to launch better products in this segment. Herbicides are slightly costly as compared to other agrochemicals like fungicides and insecticides.

The acquisitions segment is estimated to grow at the highest growth rate during the forecast period

Acquisitions help companies become the world leader in the agrochemicals business. These activities have allowed the company to become a strong competitive player in the agrochemicals market across the world. Most of the acquisitions happen to capture the other company’s vast product portfolio and vast geographic reach. Furthermore, it helps in capturing new markets through well-established distribution channels, innovation, and new product launches to gain a competitive edge.

Europe and North America are estimated to have the largest number of deals during the study period

The increase in the number of strategic deals in Europe and North America is because of the number of players operating in the market. Most of dominating agrochemicals players are operating widely in both of these regions and they acquire companies in the Asia Pacific region. This trend is usually because of the number of arable lands and dependency on agriculture in these regions. The market size and penetration of agrochemicals like fertilizers and pesticides are expected to be high in developing regions. Further, crop protection like herbicides, fungicides, and insecticides is expected to grow, due to frequent pest attacks.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Bayer CropSciences (Germany), BASF SE (Germany), Syngenta AG (Switzerland), and Corteva Agriscience (US).

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Biorational Pesticides Market Size, Share & Forecast by 2028

The global biorational pesticides market will grow from USD 7.5 billion in 2023 to USD 15.1 billion by 2028, growing at a CAGR of 15.2% during the forecast period. Organic agriculture, prioritizing natural and sustainable methods while shunning synthetic chemicals, has been pivotal. It underscores a focus on eco-friendly solutions and aligns perfectly with the essence of biorational pesticides—derived from natural origins and demonstrating minimal environmental impact. This mutual alignment complements the core principles of organic farming, fostering the heightened adoption of biorational pesticides within this evolving agricultural landscape.

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The botanical source of the biorational pesticides segment is driving the market due to simpler storage needs and broad-spectrum effect against insects, fungi, or other pests

In terms of storage requirements, botanical-based pesticides typically demand simpler conditions than some microbial-based counterparts. While they may require standard storage practices, such as averting extreme temperatures or excessive moisture, they generally do not mandate specialized storage facilities or rigorous environmental controls.

Liquid formulation segment exhibits highest CAGR of 15.3%, driving biorational pesticides market growth

North America accounts largest share in the biorational pesticides market and witnessing growth due to tight regulations and limitations on the application of conventional chemical pesticides

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Key Players

Wet Pet Food Market is Expected to Grow $31.7 billion by 2028

The wet pet food market is estimated at USD 25.5 billion in 2023 and is projected to reach USD 31.7 billion by 2028, at a CAGR of 4.5% from 2023 to 2028. The growing influence of pet-centric social media platforms has fundamentally transformed the way individuals perceive, interact, and care for their animal companions. The pervasive influence of pet-centric social media platforms has fundamentally altered the way pet owners engage with and perceive their animal companions. As these platforms enable individuals to showcase their pets, share anecdotes, and access a wealth of information, a profound cultural shift has transpired, placing pets at the center of households and fostering an increased emotional bond between owners and their pets.

Key Players in the Market

Nestlé (Switzerland)
Mars, Incorporated (US)
Colgate-Palmolive Company (US)
Unicharm Corporation (Japan)
Thai Union Group PCL (Thailand)
Charoen Pokphand Foods PCL (Thailand)
General Mills Inc. (US)
The J.M. Smucker Company (US)

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Asia Pacific is estimated to grow at the highest CAGR in the wet pet food market

Asia Pacific’s wet pet food market is experiencing significant growth, with the highest CAGR. This surge can be attributed to a confluence of factors that collectively contribute to the region’s flourishing pet food industry. One of the key drivers is the rising disposable incomes across various economies in the Asia Pacific region. As disposable incomes increase, pet owners are more inclined to prioritize premium and specialized products, including wet pet food, for their beloved companions. Moreover, growing urbanization and changing lifestyles have led to an increase in pet ownership, further boosting the demand for high-quality pet food. The increasing popularity of online platforms, particularly social media and e-commerce also has played a pivotal role in driving the growth of the wet pet food market in Asia Pacific. Social media has facilitated the dissemination of information regarding pet care and nutrition, encouraging pet owners to seek out healthier and nutritionally balanced food options for their pets. The convenience offered by e-commerce platforms enables consumers to easily access a wide array of wet pet food products, fostering its adoption.

The cats in the by-pet segment is estimated to grow at significant CAGR during the forecasted period

In recent years, there has been a significant rise in cat adoption rates across various nations. Traditionally, dog adoption dominated the pet adoption landscape, but a noticeable shift has occurred as more people are opting to bring cats into their homes. Cats have rapidly ascended to become the second most adopted pets after dogs. This shift in adoption trends can be attributed to the unique appeal of cats as low-maintenance, apartment-friendly companions, making them an ideal choice for urban lifestyles. Moreover, as feline ownership becomes more widespread, pet owners are displaying heightened awareness of the nutritional requirements of their furry companions. Cats’ distinct dietary needs, including higher protein intake and hydration levels, align well with the attributes of wet pet food. Additionally, the perception of wet pet food as a more palatable and convenient option further bolsters its demand for cats.

Agricultural Variable Rate Technology Market is Expected to Grow $13.7 billion by 2027

The global agricultural variable rate technology market is estimated to be valued at USD 7.4 billion in 2022. It is projected to reach USD 13.7 billion by 2027, recording a CAGR of 13.2% during the forecast period. Variable rate technology (VRT) is made possible through field monitoring and equipment. By varying the rate of seeds per acre, fertilizer input, herbicide application, and water input in accordance with site-specific requirements as against to uniform pre-determined levels of application, a farmer can lower input and application costs and increase yields. The profitability of VRT changes depending on the crop, field, and technology used.

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North America is projected to be the largest market

North America accounted for the largest share of the agricultural variable rate technology (VRT) market. The increasing automation and digitization of agriculture are creating new business models for the agricultural VRT market. The agricultural variable rate technology (VRT) market in North America is actively growing every year owing to increasing adoption in various crops. As per the USDA publication, the U.S. has more than 15% of the farms which are more than 200 hectares, and in these farms commercials crops are grown, which requires these types of advanced technologies for profitable and efficient farming.

Key Market Players

The key players in this market include Deere & Company (U.S.), Trimble, Inc (U.S.), AGCO Corporation (U.S.), Topcon Corporation (Japan), CNH Industrial N.V. (U.K.), Kubota Corporation (Japan), Yara International (Norway),SJ DJI Technology Co., Ltd.(China), Valmont Industries, Inc(U.S), Lindsay Corporation (U.S), Hexagon (Brazil), AgJunction(Brazil), Teejet Technologies(U.S), AG LEADER Technology (U.S), The Climate Corporation (U.S).

By application method, the sensor-based VRT is projected to account for the fastest growth in the agriculture variable rate technology market

Sensor-based VRT does not require a map or positioning system. Map-based application method is globally used in large scale; however, new technology which is sensor based which utilize active optical sensors, drone and satellite mapping are also gaining importance during the forecast period as they are real-time. However, the high cost of these sensor based VRT will be a major concern during the forecast period.

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Plant-Based Leather Market to Hit $97 million by 2027

The global plant-based leather market will grow to USD 97 million by 2027, growing at a CAGR of 7.5% during the forecast period. The growing awareness about climate change and animal welfare and the resulting surging demand for sustainable, ethical, eco-friendly, cruelty-free, and clean products are encouraging designers, artisans, fashion brands, and automotive companies to shift from conventional leather and adopt strategies such as collaborations and partnerships with companies manufacturing plant-based leather.

The fashion segment is the fastest-growing among various applications of plant-based leather during the forecast period

The fashion industry has been one of the major industries to have acknowledged the surging trend of vegan fashion. Given the increased demand for plant-based fashion goods, various internationally acclaimed fashion brands, such as H&M, Stella McCartney, and Gucci, are slowly incorporating plant-based leather in their collections and are expected to gradually shift from conventional animal leather to cruelty-free, eco-friendly plant-based leather. These products are ethical yet maintain the style and texture of traditional leather, thus satisfying the needs of the increasingly environmentally conscious customer base.

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Asia Pacific is witnessing the highest growth rate in the plant-based leather market

Asia Pacific includes China, India, Japan, Thailand, Indonesia, South Korea, Australia and New Zealand, and the rest of Asia Pacific. Agriculture in Asia is essential to the continents prosperity. Farming practices produce a considerable amount of waste each year, which alternative leather industries utilize to produce plant-based leather. In Japan, consumer behavior is influenced by climate change, sustainable, and cruelty-free products, and zero waste. Gradually, the demand is set to shift from traditional animal goods to cleaner, greener plant-based products by environment-conscious and vegan consumers. The Japanese shoe and accessory brand Belle and Sofa employ vegan leather instead of actual leather to manufacture designer bags and shoes.

The key players in the plant-based leather market include Ananas Anam (UK), DESSERTO (Mexico), NUPELLE (Taiwan), Natural Fiber Welding, Inc. (US), and PEEL Lab (Japan).