GLOBAL BIOINPUTS MARKET ON TRACK FOR USD 45 BILLION BY 2032, SAYS CROPLIFE/FGV STUDY

A CropLife Brasil and FGV study expects the worldwide agricultural bioinputs industry to triple to USD 45 billion in eight years, growing 13% to 14% annually. The biological control sector dominates the bioinput market, including inoculants and biostimulants, with 57%. Brazil faces economic and regulatory issues such as producer training and regulation despite the rapid growth. Legal reforms are underway to streamline records and standardize processes. Despite scientific advances, Brazil lags behind China and the United States in biotechnology patents. Low-capacity building restricts the cultivation of soybeans, corn, and sugarcane crops; clear governance for bioinput commercial registration is needed.
Source: Dinheiro Rural (*Translated by Ia Niani)