Agriculture Sector Outlook PDF

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Agriculture Sector Monitor Page of 1 14 Agriculture Sector Monitor 3rd February, 2016 Mordor Intelligence, HIG 7, Behind KPHB Phase IX Green Park, Kukatpally, Hyderabad, Telangana, 500072 India. Phone: +1 661-210-4568 Email: [email protected] Website: www.mordorintelligence.com

Transcript of Agriculture Sector Outlook PDF

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Agriculture Sector Monitor

3rd February, 2016 Mordor Intelligence, HIG 7, Behind KPHB Phase IX Green Park, Kukatpally, Hyderabad, Telangana, 500072 India. Phone: +1 661-210-4568 Email: [email protected] Website: www.mordorintelligence.com

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OVERVIEW

Agriculture Industry Outlook- Positive for Long Term

• The increasing concern over global food security on the onset of shrinking of farm land and land productivity, governments and non-government authorities around the globe are focusing more on agriculture sector productivity and growth.

• Agriculture sector is expected to feed a whopping 6 billion population globally, out of which more than 5 billion population reside in developing regions. By 2030, developing region’s population will expand at 1.2% rate.

• While world population growth will determine the future of food and agriculture sector, the better economic conditions of developing countries are shifting the demand patterns of agricultural produce. While developed regions would grow below 2% rate, developing regions will continue growth at an average 5%. This shift has enormous implications for global agriculture as it creates more and more higher-income consumers with dramatically different food spending patterns.

• Farmers will need to produce around 1.4% more grain every year, representing an increase of approximately 30% by 2030 and around 70% by 2050.

• Despite the difficulties of shrinking arable land, chemical toxicity, harvest loss, and commodity price volatility etc, the long term outlook for the agriculture and allied sector is seen positive given technological innovations in agrochemicals and machinery industry along with popularity of Integrated Framing Practices.

• Recent advances in agricultural technologies are helping in food production; the advancement is happening through biological and digital innovations. Biotech advances in terms of GM crops, hybrid seed varieties etc. are leading to more productive and nutritious crops. Digital innovations come in agricultural operations, machinery development and materials usage etc. Some of the growing trends in the industry are agricultural robotics, LLDP agricultural films, seed coating materials and nanotechnology etc.

• The traditional agriculture based countries like Australia, Argentina, Canada, the European Union and the United States will remain the major suppliers of staple food crops and other agricultural produce.

• Countries such as Brazil, Russia, Spain, Italy, China, Vietnam and India are making significant agriculture investments to reduce the supply-demand gap.

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Major sectors Outlook

• Crop Protection: Regulatory authorities such as EPA (Environment Protection Agency) frequently come up with stringent laws related to curbing pesticide use for alleviating environmental damage and increasing consumer awareness about pesticide consumption, which is expected to be instrumental in slowing down growth in demand for synthetic pesticides. The same reason however, is helping the biopesticides industry to grow. Being organic, free of chemical residues and eco-friendly products, Biopesticides have been witnessing faster growth in demand compared to their synthetic counterparts.

• Fertilizer: The global trade for the fertilizer industry is highly concentrated as 50-80% of total production capacity of fertilizers is handled by top five countries. Asia-Pacific, with its thriving economies and rapidly expanding population, is expected to experience the highest consumption from 2015 to 2020. Rising consumer awareness for healthy food and product innovation involving micro nutrients and multifunctional fertilizers are the opportunity areas for the sector.

• Biofertilizers: Growth in organic food industry is driving the bio-fertilizers market. The market is estimated to grow at the CAGR of 14.6% during the forecast period of 2014-2020 and is estimated to reach $18,048.1 million by 2020. Stringent regulatory framework for maximum residue level and growth in organic farming makes Europe the major market accounting for around 40% of the global consumption. Nitrogen fixing bacteria such as rhizobium, azotobacter is widely consumed and accounts for major market share.

• Seed Treatment: The greatest prospects for seed treatment lie in maximizing the plants generic potential through bespoke solutions, which need a combination of crop protection, innovation and crop solution techniques. With a market value of $4.2 billion in 2015, the market for seed treatment is gaining in significance due to a number of factors like rise in seed cost, volatility in weather along with price and greater use of multicomponent products.

• Agricultural Machinery: North American, European and Australian markets are some of the more affluent, urbanized markets with between 700-1850 tractors per 1000 farmers. Regionally India and China provide great scope of growth due to continued support from government bodies. Combine harvesters are the next most abundantly used farm implements after tractor.

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A PIE OF OUR BROAD SPECTRUM

Sector Market Coverage Page

Crop Protection (Pesticide)

Crop Protection Chemicals (Pesticides)

Global Crop protection chemicals (Pesticides) Market Asia Pacific Crop protection chemicals (Pesticides) Market Brazil Crop protection chemicals (Pesticides) Market Germany Crop protection chemicals (Pesticides) Market North America Crop protection chemicals (Pesticides) Market US Crop protection chemicals (Pesticides) Market

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Biopesticides Global Biopesticides Market China Biopesticides Market Argentina Biopesticides Market Germany Biopesticides Market North America Biopesticides Market US Biopesticides Market

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Fungicide Global Fungicide Market Global Grains & Cereals Fungicide Market Global SDHI Fungicide Market Global Biofungicide Market Latin America SDHI Fungicide Market Europe Fungicide Market

Acaricide Global Acaricide Market Europe Acaricide Market Asia Pacific Acaricide Market

Herbicide Global Herbicide Market Global Bioherbicide Market

Insecticide Global Insecticide Market Global Crop Based Insecticide Market Europe Insecticide Market

Fertilizers

Global Fertilizer Market Asia Pacific Fertilizer Market Brazil Fertilizer Market Germany Fertilizer Market North America Fertilizer Market US Fertilizer Market

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FertilizersBiofertilizer Global Biofertilizer Market

Asia Pacific Biofertilizer Market Global Biofertilizer Market by Microorganisms North America Biofertilizer Market

Micronutrient Fertilizer Global Micronutrient Fertilizer Market Latin America Micronutrient Fertilizer Market

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Other Agrochemicals

Adjuvants Global Agricultural Adjuvants Market North America Agricultural Adjuvants Market US America Agricultural Adjuvants Market Europe Agricultural Adjuvants Market

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Plant Growth Regulator 9

Global Plant Growth Regulator Market North Plant Growth Regulator Market US Plant Growth Regulator Market Europe Plant Growth Regulator Market

Seed & Seed Treatment

Seed Market Global Seed Market Asia-Pacific Seed Market Europe Seed Market US Seed Market

Seed Treatment Global Seed Treatment Market Global Chemical Seed Treatment Market Global Non-chemical Seed Treatment Market North America Corn/Maize Seed Treatment Market Asia-Pacific Canola Seed Treatment Market Argentina Chemical Seed Treatment Market

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Seed Coating Materials Global Seed Coating Materials Market Asia-Pacific Seed Coating Materials Market Europe Seed Coating Materials Market South Africa Seed Coating Materials Market US Seed Coating Materials Market

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Sector Market Coverage Page

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~Our report coverage for agriculture industry is vast. We also provide customised market intelligence as per your specific requirements~

Machinery

Agricultural Machinery Global Agricultural Machinery Market Asia-Pacific Agricultural Machinery Market India Agricultural Machinery Market United States Asia-Pacific Agricultural Machinery Market South America Asia-Pacific Agricultural Machinery Market Africa Agricultural Machinery Market

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Tractor Machinery Global Agricultural Tractor Machinery Market Global Utility Tractor Machinery Market Global Garden & Orchard Tractor Machinery Market North America Agricultural Tractor Machinery Market

Other Agriculture Machinery Global Ploughing and Cultivating Machinery Market Global Planting and Fertilizing Machinery Market Global Harvesting Machinery Market Global Irrigation Machinery Market

Sector Market Coverage Page

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MARKETS WITH HIGH PROSPECTS

Global Crop protection chemicals (Pesticides) Market

• The Global Crop protection chemicals (Pesticides)

Market is slated to grow with a CAGR for 5.8% between 2015 and 2020.

• The crop protection market will reach 77467.88 million USD by 2020.

• Two developing regions South America and Asia-Pacific are the major consumers of crop protection products worldwide.

• In Asia-Pacific, China and India lead the market growth with CAGR of 8.12% and 10.17% respectively till 2020.

• Usage of pesticides in grains and cereal crops covers more than half of the market share; oil seed crops would grow at a faster rate of CAGR 6.45% over the forecast period.

• Factors driving the markets for pesticides include decreasing arable land, increasing population and the requirement of improving crop yields.

• Chemical toxicity is one of the major issue for the industry’s growth. For instance, chemicals such as glyphosate (herbicide), atrazine (herbicide) and chlorpyrifos (insecticide), to name a few, remain under constant reviews for their high toxicity level and can be either gradually phased out or even banned if more eco-friendly options are made available.

MARKET REVENUE (IN $ MILLION

20000

40000

60000

80000

2015 2020

Global crop protection chemicals (Pesticides) market

CAGR 5.6%

Source: Mordor Intelligence Analysis

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Global Biopesticides Market

• The Biopesticides industry is estimated to grow at a CAGR of 10.34% by value terms during 2015-2020.

• With the increasing market share for biopesticides over the concern of food safety and quality, the global demand for the same would reach $4034 million by 2020.

• Biopesticides typically affect only the target pest and other organisms that are closely related to it, as against broad-spectrum conventional pesticides. This reason alone is the major driving force for the biopesticide market growth.

• Low per capita use in several regions and high cost of product development are the major constraints here.

• Europe is the major market for biopesticide consumption due to stringent regulation policies pertaining to crop protection.

Global Micronutrient Fertilizer Market

• The global micronutrient fertilizer market is growing at an encouraging rate given the increasing occurrence of soil and micronutrient depletions across the regions.

• Global market for micronutrient fertilizers is expected to reach a market value of $5374.4 million by 2020 growing at a CAGR of 8.2%.

• The issue of food security along with shrinking farm lands necessitate the usage and application of micronutrient fertilizers in fields.

• However, low acceptance and lack of product knowledge among the farming community are the major hindrance in further growth in demand.

• North America and Asia Pacific together account for more than 70% of the World’s micronutrient fertilizer demand.

• Research and development pertaining to region and area specific requirements is being religiously adopted by industry players like The Mosaic Company, Cheminova A/S, Yara International etc.

REGIONAL MARKET SHARE

North America Europe APACSouth America Africa

MARKET REVENUE (IN $ MILLION)

0

1500

3000

4500

6000

2015 2020

Global micronutrient fertilizer market

CAGR 8.2%

Source: Mordor Intelligence Analysis

Source: Mordor Intelligence Analysis

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Global Agricultural Adjuvants Market

• Increased cost of agriculture chemicals and pressure on farmers to increase yield has paved way for use of agriculture adjuvant.

• The market is poised to grow at a CAGR of 5.6% from 2015 to 2020.

• More than 75% of the market is dominated by activator adjuvants like surfactants and oil adjuvants.

• The market for utility adjuvants would grow at a CAGR of 5.5% during 2015-2020.

• Akzonobel N.V., Dow Corning Corp., Evonik Industries AG, Lamberti SPA and Adjuvant Plus Inc are in the forefront of the Global Agricultural Adjuvants Market.

Global Seed Treatment Market

• The global seed treatment market was worth around $4.2 billion in 2015 and is expected to cross $6.4 billion by 2020.

• The global market is expected to grow at the CAGR of 8.9% during the forecast period 2015-2020.

• Continuous rise in seed cost, volatility in weather along with price and greater use of multicomponent products are driving the seed treatment market.

• Worldwide, chemical agents dominate the market for seed treatments, cornering an estimated share of 93.8% in 2015, with demand for the same projected to reach US$6.4 billion by 2020 at a CAGR of 8.9% between 2015 and 2020.

• By region, North America dominates the global seed treatment market with a share estimated to be 48.2% in 2015, though Asia-Pacific’s demand for these compounds is likely to emerge as the fastest growing.

MARKET REVENUE (IN $MILLION

0

850

1700

2550

3400

2012 2013 2014 2015 2020

Agricultural adjuvants market

REGIONAL MARKET SHARE

North AmericaEuropeAPACSouth AmericaROW

Source: Mordor Intelligence Analysis

Source: Mordor Intelligence Analysis

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Global Seed Coating Materials Market

• Importance of seed coatings is to ensure proper plantability, enhanced seeding rates and prevent doubles. 

• Rise in demand for seeds has exerted pressure on farmers, especially in Asian countries who are gradually shifting to scientific method of farming. This situation has generated an opportunity for seed coating companies.

• Polymer has the largest market share among coating material type and is projected to grow with the increasing demand for coated seeds in the agriculture industry.

• North America was the largest consumer of cereals & grains seed coating materials and largest market of polymer in 2015.

• Overall, the Global Seed Coating Materials Market is expected to grow at a CAGR of 7% during the forecast period 2015-2020.

Global Agricultural Machinery Market • Agricultural machinery manufacturers are at the forefront of

change and evolution of the agriculture sector giving rise to modern day integrated farm management approach.

• Population growth, urbanization, higher productivity demand with a shrinking agricultural land base throughout the globe, are only some of the factors which have led to the growth of total agriculture machinery demand. 

• Globally, Agricultural machinery market is expected to grow at CAGR 8.00% over 2015-2020.

• India is one of the strategically important market for agricultural machinery; the country’s demand would cross the market value of $16493.80 million by 2020 at a CAGR of 11.5% during 2015-2020.

• In terms of types of implements, tractors are the most common equipment across the world. These come in large ticket sizes with high horsepower for the more affluent markets, and in smaller sizes to fit the needs of smallholder farmers in the developing world.

MARKET BY TYPE

Polymers Colorants BindersOthers

MARKET REVENUE (IN $ MILLION)

0

4250

8500

12750

17000

2015 2020

India Agricultural machinery

CAGR 8.2%

Source: Mordor Intelligence Analysis

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OUR METHODOLOGY

The analysis of market trends, growth patterns, and dynamics of a studied market, and forecasting the future values depend on the overall market, demographic, geo-political, and macro and micro economic conditions of a country or region, leading to the identification of broad exogenous and endogenous factors such as historical market trends, macroeconomic and business cycle effects, seasonal effects, average selling price trends, and homogeneity in the cross-sectional country trends.

The research process adopted for this entire study can be broadly classified into two phases: size estimation of the historical and current years, and the forecasting methodology for the forecast period of the global, country, and segmental-level data that lead to the Data Generation Process (DGP) for the studied variables. The size estimations are carried out through bottom-up and top-down approaches, examining the revenues of the key players, studying the size of the applications, end-user demand cross-validated by secondary and primary resources. In this report, for analysing the trends of the studied market in the forecast period, we have incorporated rigorous statistical and econometric methods, validated by secondary, primary, and by internal experts through our extensive data intelligence repository. The market is studied from the demand and supply-side perspectives to analyse the consumer and producer behaviour patterns in the review period that affect the demand and consumption trends.

Data Inputs through primary expert opinions, cushioned by secondary databased research

Presentation by impactful articulation & depiction of research findings

Data curation for reliable future research

Data Validation with econometric model

Forecasts with observable basic characters/ Trends

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