The global autonomous tractors market size was valued at $2.4 billion in 2023, and is projected to reach $7.1 billion by 2028, registering a CAGR of 24.0% from 2023 to 2028.
Agriculture & Forestry Industry Market News
The global market for compound feed was valued at USD 541.2 billion in 2023 and is projected to reach USD 668.3 billion by 2028, at a CAGR of 4.3% during the forecast period.
The agricultural pheromones market is projected to reach USD 8.2 billion by 2028 from 3.9 billion by 2023, at a CAGR of 16.2% during the forecast period in terms of value.
The hazardous effects on the environment as a consequence of using chemical pesticides which are known to have carcinogenic effects on plants and animals are driving the market for beneficial insects. Beneficial insects are an alternative to chemical pesticides; they are highly valuable insects and mites that eat or parasitize target pests.
Several important factors are augmenting the demand for pest control products and services on a global scale. Increasing awareness of the health risks posed by pests and the diseases they can transmit is driving individuals and businesses to prioritize pest prevention and control.
Stricter regulations enforced by governments and regulatory bodies globally aim to safeguard human health and the environment by limiting the use of chemical pesticides. Consequently, there is a growing demand for safer and more sustainable alternatives, driving the increased adoption of agricultural biologicals across the globe.
Several important factors augment the demand for commercial greenhouse solutions and services on a global scale. Commercial greenhouses provide the opportunity to lengthen growing seasons, lessen the effects of unfavorable weather, and ensure reliable crop harvests.
The robust growth of the global agricultural surfactants market is intricately linked to the steady expansion of global crop production, as highlighted by the Food and Agriculture Organization of the United Nations (FAO).
The agricultural testing market is projected to reach USD 9.8 billion by 2028 from USD 6.7 billion by 2023, at a CAGR of 7.1% during the forecast period in terms of value. The agricultural testing market refers to the industry involved in analyzing various agricultural products, such as soil, water, compost, biosolids, manure and seeds, to determine their quality, composition, and presence of contaminants.
The global aquafeed market is projected to reach USD 88.0 billion by 2028, at a CAGR of 7.3% over the forecast period. It is estimated to be valued USD 61.8 billion in 2023.
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