PUBLISHER: The Business Research Company | PRODUCT CODE: 1619577
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619577
Farm inputs encompass the resources and materials utilized in agriculture to boost crop yields and livestock productivity. These include labor, technology, and capital investments, all of which are essential for managing and expanding farming operations effectively.
Key types of farm inputs consist of fertilizers, seeds, pesticides, plant growth regulators, soil conditioners, and farming equipment. Fertilizers, whether organic or synthetic, are substances added to soil or plants to deliver vital nutrients and foster healthy growth, typically containing elements such as nitrogen, phosphorus, and potassium. These inputs support various agricultural tasks, including plowing, cultivating, sowing, planting, plant protection, fertilizing, harvesting, and threshing, and are used across diverse applications by large enterprises, farmers, retailers, and research institutions.
The farm inputs market research report is one of a series of new reports from The Business Research Company that provides farm inputs market statistics, including the farm inputs industry's global market size, regional shares, competitors with a farm inputs market share, detailed farm inputs market segments, market trends and opportunities, and any further data you may need to thrive in the farm inputs industry. This farm inputs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 rise during the historic period can be linked to a growing demand for eco-friendly products, increased consumption driven by health benefits, higher nitrogen prices, heightened sustainability concerns, and a stronger emphasis 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 anticipated growth in the forecast period is driven by government policies and subsidies, international trade agreements, changes in farm sizes and practices, infrastructure development, and advancements in smart agriculture. Key trends during this period include improved fertilizer technologies, progress in drip irrigation systems, innovations in smart seed technologies, the use of genetically modified organisms (GMOs), and the integration of renewable energy.
The increasing demand for food production is expected to drive the growth of the farm inputs market. This heightened demand arises from a growing global population and the need for diverse and sustainable food sources to ensure food security and nutritional health. Farm inputs, including seeds, fertilizers, pesticides, water, and machinery, play a crucial role in boosting food production by enhancing crop yields, protecting against pests and diseases, and improving farming efficiency. For example, the Department for Environment, Food and Rural Affairs (DEFRA) reported in July 2024 that productivity in the food chain rose by 2.0%, while the overall economy saw a 2.6% increase. The total gross value added by the food chain reached $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). Thus, the increasing need for food production is fueling the growth of the farm inputs market.
Key players in the farm inputs market are focusing on developing advanced plant protection solutions, such as high-end insecticides, to boost agricultural productivity and sustainability. High-end insecticides are premium pest control products that offer superior efficacy and features compared to standard options. For instance, in July 2023, Syngenta India Private Limited, an agrichemical company based in India, introduced Incipio and Simodi, designed for crops such as paddy, cotton, and vegetables throughout India, utilizing innovative PLINAZOLIN technology. These insecticides provide broad-spectrum, long-lasting control against pests such as stem borers, leaffolders, and lepidopteran insects, thereby improving crop yields and quality while reducing the frequency of applications and overall costs for farmers.
In August 2024, PI Industries Limited, an Indian agri-sciences firm, acquired Plant Health Care Plc for $43.27 million (£32.78 million). This acquisition supports PI Industries' strategic objectives and enhances its position in the agricultural sector by leveraging Plant Health Care Plc's expertise and market presence, particularly in biological or peptide technology platforms and plant immunity inducers. Plant Health Care Plc is a UK-based company specializing in agricultural biological inputs.
Major companies operating in the farm inputs market are 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 Aktiengesellschaft, UPL Limited, FMC Corporation, EuroChem Group AG, Coromandel International Limited, Nufarm Limited, PI Industries Limited, Sulphur Mills Limited
North America was the largest region in the farm inputs market in 2023. The regions covered in the farm inputs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the farm inputs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The farm inputs market consists of sales of irrigation systems, animal feed, pesticides, and machinery. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Farm Inputs Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on farm inputs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for farm inputs ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The farm inputs market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.