Worldwide agricultural global warming solutions industry projected to be worth over $1 billion by 2030
The agricultural global warming solutions market is forecast to surpass the billion-dollar threshold over the next five years, says market research firm MarketsandMarkets. By 2030, the currently $860 million industry is projected to be worth $1.28 billion, driven primarily by market growth in North America, particularly the United States.
Experts attribute this potential $420 million global growth to an increase in government push towards sustainable farming practices, along with farmers’ increasing adoption of these practices, and global consumer demand for sustainable products in North America, Europe, Asia Pacific, and South America.
Growth driven by U.S. trends and politics
According to the report, the North American market, led by the United States, has played a major role in this market expansion, thanks to the country’s government subsidies, increasing climate policy support across regions, and the growth of companies specializing in global warming solutions.
The report also notes that current U.S. politics are giving the industry some tailwind. Factors such as U.S. representatives’ push for a reduction in the agricultural use of pesticides, the conversation around the Make America Healthy Again report, and U.S. Secretary of Health and Human Services, Robert F. Kennedy Jr.'s opposition to the chemicals, will continue to drive the market’s growth.
Other drivers include the continuous push by government agencies, such as the U.S. Environmental Protection Agency, for a shift towards biopesticides, and the growth through acquisitions, mergers, and partnerships of major global warning solutions companies in the U.S., such as Corteva Agriscience.
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