Benzenoid Market Growth by Emerging Trends, Analysis, & Forecast

The global benzenoid market size is estimated to be USD 651 million in 2020 and is projected to reach USD 857 million by 2025, at a CAGR of 5.6% during the forecast period. The market is primarily driven by factors such as steadily goring cosmetics, personal care and beauty market, cheaper availability of raw materials, and increasing trend of unique aroma formulations.

 

 

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The benzenoid chemicals market is dominated by a few globally established players such as Tennants Fine Chemicals Ltd. (England), Jayshree Aromatics Pvt. Ltd. (India), Emerald Kalama Chemical (US), International Flavors & Fragrances, Inc. (US), and Eternis Fine Chemicals (India). These players have adopted various growth strategies such as partnerships, agreements, collaborations, and new product launches to increase their presence in the global market.

 

Jayshree Aromatics Pvt. Ltd. has gradually emerged as a strong player globally in the aroma chemicals sector. The company’s operations are a 100% concentrated on exports. The company has strong backing for conducting processes, such as chlorination, hydrogenation, distillation, and acetylation, in the same premise. The company’s growth is firmly driven by innovative chemistry and technology. Jayshree Aromatics Pvt. Ltd. has maintained a strong certification portfolio including ISO, HACCP, FSSAI, HALAL & KOSHER, and REACH certifications. These have helped the company develop as a strong exporter of aroma chemicals globally.

 

Tennants Fine Chemicals is a key aroma chemical and acetate ester chemicals manufacturer in the UK. It is owned by Tennants Consolidated Ltd. The company serves manufacturers with chemicals required in primary manufacturing processes and has over the years successfully developed an export network in over 90 countries worldwide. The three key areas of operation of the organization include distribution of chemicals, production of specialty chemicals, and services. Tennants Fine Chemicals Ltd. has established manufacturing sites in North America, South America, Europe, and China.

 

Emerald Kalama Chemical a business unit of Emerald Performance Chemicals offers wide range of flavor and fragrance intermediates, food & beverages preservatives, plasticizers, and other additives. This company was formed after the merger of aroma chemical business of Innospec Inc. in 2015 with Emerald Kalama, after an investment of USD 40 million. It focuses on investing in the toluene oxidation chemistry. It is one of the leading global producers of benzoic acid, benzyl alcohol, benzaldehyde, sodium benzoate, potassium benzoate, and specialty derivatives such as linear aldehydes and hexyl cinnamic aldehyde. The company offers its products through three product segments, namely, benzoates & intermediates, aroma chemicals/flavor & fragrance, and K-FLEX (non-phthalate, low-VOC plasticizers, and coalescent). The company has its manufacturing facilities located in Kalama (US), Rotterdam (Netherlands), and Widnes (UK). It offers its products to 70 countries across the globe. The company majorly exports benzoic acid to various plastic additive manufacturers in Asia. Aroma chemicals are exported to the key markets of Mexico and Argentina. Some of its key clients in these markets are Firmenich Argentina, Brenntag, and IFF Mexico.

 

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China ranks first in terms of imports and exports of organic chemicals globally. The global chemical industry has seen a 7% annual growth rate. countries such as China, Japan, South Korea, and Indonesia are doing exceedingly well in the cosmetics, beauty, and personal care products market. According to Istrata reports, Southeast Asia revenue in the Beauty and Cosmetics segment amounts to USD25.449 billion in 2020 where 74% of sales contribute to mass-marketed cosmetics and 26% to luxury items. Thus the region accounts for the largest market shares in the global benzenoid market.

Crop Protection Chemicals Market Will Hit Big Revenues In Future

The global crop protection chemicals market size is estimated to be valued USD 63.7 billion in 2020 and is projected to reach a value of USD 74.1 billion by 2025, growing at a CAGR of 3.1% during the forecast period. The growth of this market is attributed to an increasing need for food security of the growing population.

 

 

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Key players in this market include BASF SE (Germany), Dupont (US), The Dow Chemicals Company (US), Syngenta AG (Switzerland), and Sumitomo Chemical Co., Ltd (Japan).

 

Mergers, acquisitions, and new product launches were the key strategies adopted by the leading players in the Crop protection chemicals with a view to improve their product line and presence in the market.

 

BASF SE, headquartered in Ludwigshafen, Germany, is a diversified chemical company founded in 1865. BASF is listed on stock exchanges in Frankfurt (Germany), London (UK), and Zurich (Switzerland).

 

The company has thirteen divisions grouped into six segments, namely, chemicals, performance products, functional materials and solutions, agricultural solutions, oil & gas, and others. BASF’s crop protection division is engaged in the research, development, production, and sales of crop protection products for the improvement of crop health and yield. In 2015, 26% of the total research and development expense was on agricultural solutions.

 

BASF operates globally through its subsidiaries in 80 countries with six Verbund sites, and 338 additional production sites such as BASF India (India) and BASF China (China). The major subsidiaries of the company are Wintershall Holding GmbH (Germany), Cognis (Germany), Engelhard Corporation (US), and BASF Plant Science (US).

 

The leading competitors of the company are Dupont (US), Bayer CropScience AG (Germany), The Dow Chemical Company (US), Syngenta AG (Switzerland), FMC Corporation (US), Nufarm Limited. (Australia), Sumitomo Chemicals Co. Ltd. (Japan), and Adama Agricultural Solutions Ltd. (Israel).

 

The Dow Chemicals Company is an American multinational chemical corporation company founded in 1897 and is headquartered in Michigan, US.

 

It operates through business segments such as performance plastics, performance materials, feedstock & energy, coatings & infrastructure solutions, electronic & functional materials, and agricultural sciences. It markets its biologicals business under the agricultural sciences business segment through Dow AgroSciences LLC. The agricultural sciences segment offers crop protection and seed/plant biotechnology products and technologies, urban pest management solutions and healthy oils, insecticides, fungicides, herbicides, and seeds.

The Dow Chemical Company operates globally through its subsidiaries and has 197 production facilities in 36 countries. It offers products and solutions in over 160 countries. Its operations are spread across North America, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific region.

 

Its major competitors are BASF SE (Germany), Syngenta AG (Switzerland), FMC Corporation (US), Bayer CropScience AG (Germany), Nufarm Limited. (Australia), Sumitomo Chemical Co., Ltd (Japan), and Adama Agricultural Solutions Ltd. (Israel).

 

Dupont, established in 1802, and headquartered at Delaware, provides science and technology-based products, materials, and services.

The company operates through the following business segments: agriculture, performance materials and safety & protection, nutrition & health, safety & protection, electronics & telecommunications, industrial biosciences, and others. It also serves the government and public sector in the sectors of service & protection, energy and utilities, and others.

 

Dupont develops, produces, and markets a wide variety of crop protection and seed products in the global market. The agriculture segment of the company develops and markets products and services which offer better crop yield and productivity. The company has high focus on reducing its manufacturing costs to make the product prices competitive and has also initiated the use of biotechnology for better performance and high functionality of products.

 

Dupont operates globally in more than 90 countries covering its geographic presence across North America, Latin America, Europe, and Asia-Pacific. The company has established over 75 research & development centers and 12 examining labs all over the world. For the crop protection sub-segment of Dupont, its major markets are production agriculture, feed industry, food industry, and energy industry.

 

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South America is an emerging agricultural powerhouse, growing at a rapid pace above the global growth average. Growth in this region is significantly contributed by the growth in Brazil and Argentina, which are the world’s most potent agricultural producers and are expected to grow well above the regional average. The economic growth in South America has been stimulated by democratization, economic reforms, and the foundation of the two trading blocs namely, Mercosur and the Andean Pact.

 

Regulatory framework in South America is quite weak as compared to North America and Europe. The South American Pesticide Action Network controls the regulatory issues in the region. The international trade system from the WTO for regional and bilateral trade deals also undermines national pesticide laws and threatens the ability of South American nations to prohibit dangerous chemicals from being used. This is especially observed in the case of WTOs demand for establishing certain common minimum standards for pesticides among countries. For instance, if a country wants to implement a stricter standard on pesticides as compared to the WTO, it could be recognized as a technical barrier to trade.

Animal Disinfectants Market to Showcase Continued Growth in the Coming Years

The global animal disinfectants market size is estimated to be valued at USD 3.2 billion in 2022. It is projected to reach USD 4.6 billion by 2027, recording a CAGR of 7.6% during the forecast period. The market has promising growth potential due to several factors, including the rising awareness regarding hygiene and sanitation amidst this COVID-19 pandemic and increasing demand for meat and other animal products.

 

 

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Key players in this market include Neogen Corporation (US), GEA (Germany), Lanxess AG (Germany), Zoetis (US), Kersia Group (France), CID Lines (Belgium), Albert Kerbl GmbH (Germany), PCC Group (Germany), Laboratoires Ceetel- CMPC (France), G SheperdAnimal Health (UK), Sanosil AG (Switzerland), DeLaval Inc. (Sweden), Diversey Holdings Ltd. (US), Fink Tec GmbH (Germany), Evans Vanodine International PLC (UK), Virox Animal Health (Canada) and Kemin Industries (US)

 

Neogen is a company focused to animal food safety that develops, manufactures, and markets a wide range of products. In nations such as the United States and Mexico Central America, Brazil, Argentina, Uruguay, Chile, the UK, China, India, and Australia, the companys products are sold by its own salespeople. To grow its global reach, the company has partnered with distributors.

 

The creation, manufacture, marketing, and sale of veterinary devices, medications, and testing services are all part of the Neogen animal safety business. The bulk of these consumables are sold by veterinarians retailers, livestock producers, and animal health product distributors. The companys portfolio for this disinfectant sector includes a wide range of active chemicals that target specific diseases and a wide pH range for a variety of applications for different types of applications, with cleaners and disinfectants specifically designed to be used in animal environments.

 

In April 2021, NEOGEN Corporation acquired Delf (UK) Ltd., a manufacturer, and supplier of animal hygiene and industrial cleaning products based in the United Kingdom.

 

GEA is among the largest technology suppliers for food processing and a wide range of other industries, including chemicals, dairy farming & processing, home & personal care, leisure & sport, transportation, utilities, and other applications.

 

The GEA Group is involved in the creation, innovation, and marketing of a variety of food processing and a wide range of other industries, including chemicals, dairy farming & processing, home & personal care, leisure & sport, transportation, utilities, and other applications. Business area equipment’s and business area solutions are the two business segments in which the company operates. GEA Group is increasing its process technology capabilities over the world by implementing strategies such as new product launches, expansions, and acquisitions. The operations of company are classified across different verticals through which the company operates, including Food Solutions, Farm Technologies, Mechanical Equipment, Process Engineering, and Refrigeration Technologies. The Food Solutions segment involves activities that feature standardized and customer-specific equipment. Under dairy farming, the company offers a range of animal health and hygiene products, which range from udder hygiene to hoof hygiene to bedding conditioners.

 

Zoetis discovers, develops, and manufactures animal health medicines and vaccines, complemented by diagnostic products, genetic tests, biodevices, and a range of services designed to meet the needs of veterinarians, livestock farmers, and companion animal owners. The company offers animal health products such as anti-infectives, vaccines, parasiticides, medicated feed additives, other pharmaceuticals, and other non-pharmaceuticals for both companion animals and livestock. Zoetis operated as the animal health division of Pfizer (US) until its separation from the latter in February 2013, when it was spun off into an independent company.

 

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The Asia-Pacific area is expected to be the fastest-growing market for animal decontaminant. The presence of a high cattle population in the region drives demand for animal-based food products, which is fueled by expanding urbanization and rising income levels, prompting consumers to choose animal-based protein sources. Due to factors such as a focus on improving meat quality and different public health initiatives encouraging the intake of animal protein sources, pork and poultry are widely consumed in India and China. As a result of these positive demand dynamics, the animal husbandry industry is on a strong growth path. China, contributes significantly to the region’s leading position, with Thailand and Indonesia being the emerging feed producing countries, while India and Japan are witnessing a constant growth in feed production.

Coconut Oil Market to Showcase Continued Growth in the Coming Years

The global coconut oil market is estimated to be valued at USD 5.4 billion in 2022. It is projected to reach USD 7.5 billion by 2027, recording a CAGR of 5.5% during the forecast period. Coconut oil is a yellowish-white solid or semi-liquid available in the form of edible oil. It is extracted from the wick, meat, and milk of the coconut palm fruit and has a low percentage of unsaturated fatty acids, and is up to 90% saturated fat with no cholesterol content. The types of coconut oils available in the industry can be classified as RBD, virgin, and crude serving various applications in the field of food & beverages, cosmetics, pharmaceuticals, and many others.

 

 

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Coconut oil is beneficial for use in cosmetics as a moisturizer, and in soaps and is used as a remedy for treating illnesses and infections, healing wounds, promoting the growth of strong bones, and protecting the skin against blemishes. It also exhibits smoothing properties and textures when used in body butter, soaps, and salves. It offers excellent emollience to dry, itchy skin, and hair, remaining suitable for sensitive, inflamed, and irritated skin without clogging the pores of the skin. It also soothes sunburns and blisters, removes dead skin, and promotes the growth of newer and healthier skin. Due to these characteristics, coconut oil is increasingly used in cosmeceutical and personal care products.

Key players in this market include Cargill (US), Archer Daniel Midlands Company (US), Bunge Limited (US)

 

Cargill is engaged in the manufacturing and marketing of food ingredients, risk management, agricultural products, financial and industrial products, and services worldwide. The company covers 75 businesses under its four major categories: food ingredients & application, animal nutrition & protein, origination & processing, and industrial & financial services. The company offers coconut oil under the food ingredients & application segment. Cargill functions in 70 countries through its subsidiaries and affiliates. The subsidiaries through which Cargill works include The Mosaic Company (US), NatureWorks LLC (US), and The Wilbur Chocolate Company (US).

 

Archer Daniel Midlands Company (ADM) is primarily engaged in producing food ingredients, animal feed & feed ingredients, biofuels, and naturally derived alternatives to industrial chemicals. The company operates through four business segments: agriculture services and oilseeds, carbohydrate solutions, nutrition, and others. ADM offers coconut oils under its food & beverage solutions segment. Coconut oil from ADM offers a great-tasting, fast melting option with various uses as it contains medium-chain fatty acids found in medium-chain triglycerides (MCT). The company consists of more than 800 plants, 321 food & feed processing facilities, 61 innovation centers, and 449 crop procurement locations globally. It has an extensive transportation network to procure, store, clean, and transport agricultural commodities.

 

Bunge Limited is a leading global agribusiness and food company with integrated operations that stretch from farmer to consumer. The company has divided its business into five segments, namely, agribusiness, refined and specialty oils, milling, sugar and bioenergy, and plant proteins. The refined and specialty oils segment comprises businesses that sell vegetable oils and fats, including oils shortenings, margarine, mayonnaise, and specialty ingredients. The company offers coconut oil under the refined and specialty oils segment. Bunge Limited has more than 300 port terminals, oilseeds processing plants, grain facilities, and food and ingredient production and packaging facilities around the world.

 

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Today Asia Pacific’s is the world’s leading producer of coconut oil, with European coconut oil being exported to all corners of the globe. The Asia Pacific accounted for the majority of the market share in the global market, in 2021. The Asia-Pacific starch industry has a range of coconut oil offerings, ranging from native to organic oil mixtures. The versatility of coconut oil enables their application as ingredients and functional supplements in the food, non-food, and pharma industries.

Modified Starch Market Growth by Emerging Trends, Analysis, & Forecast

The global modified starch market is estimated to be valued at USD 13.7 billion in 2022. It is projected to reach USD 15.9 billion by 2027, recording a CAGR of 3.1% during the forecast period. Modified starches are manufactured from native starches. Various processing methods such as physical, enzymatic, wet & dry chemical processes, drum drying, and extrusion are used to produce different types of modified starch products. These processes are used to change the properties of native starch, such as its freeze-thaw stability, acid or alkali resistance, and shear stability to meet industrial requirements. Modified starches are used for functions such as thickening, stabilizing, binding, and emulsification. Apart from food products, it is also used in a wide range of non-food applications and the animal feed industry.

 

 

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Key players in this market include Tate & Lyle (UK), Archer Daniel Midlands Company (US), Ingredion Incorporated (US), and Avebe (Netherlands)

 

Tate & Lyle is engaged in the manufacturing and marketing of food and industrial ingredients. It operates through three business segments, namely products, food & beverage solutions, and sucralose. These three business units are sustained by globalized support services, innovation & commercial development, and global operation groups. It serves a broad range of applications in food & packages, animal feed, industrial, pharmaceuticals & personal care. Starch products are offered through its primary products business segment. The company has expanded its global presence by acquiring new facilities. It continuously upgrades its portfolio by launching new products. It also focuses on the geographical expansion of production facilities and sales centers in countries such as China and Japan. In March 2020 Tate & Lyle launched its new line of clean-label starches for freeze-thaw stability. The new range of products was named CLARIA EVERLAST. The new clean-label starches would provide superior shelf stability. They included cook-ups and instant starches made from corn and tapioca starch.

 

Archer Daniel Midlands Company (ADM) is primarily engaged in the food processing and trading of commodities. It is one of the key players in the agricultural processing and food ingredient industry sectors. The company is involved in the trade, transportation, storage, and processing of a wide range of grains and commodities such as corn, oilseeds, wheat, and cocoa. It offers a range of modified starches through its carbohydrate solutions business segment. The company’s network spans more than 140 countries around the world. It operates globally through 272 processing plants and more than 470 crop procurement facilities, where cereal grains and oilseeds are processed into products used in the food, beverage, nutraceutical, industrial, and animal feed markets. The company operates its business through several subsidiaries such as Golden Peanut Company LLC (US), ADM Milling (US), ADM do Brasil Ltda (Brazil), WILD Flavors, Inc. (US), and ADM Hamburg AG (Germany).

 

Ingredion Incorporated (formerly Corn Products International, Inc.) is one of the leading providers of ingredient solutions to the food, beverage, brewing, health & nutrition, personal care, animal nutrition, and pharmaceutical industries, including various industrial sectors. The company processes cereals & grains, such as corn, tapioca, wheat, and potatoes. The products are used in processed food applications as fat replacing, gelling, glazing, stabilizing, or texturizing agents. The company is the leading manufacturer of corn-based starches and sweeteners in South America.

 

Ingredion operates through its processing and manufacturing facilities across North America, South America, Asia Pacific, Europe, the Middle East, and Africa. The company has 43 manufacturing facilities and operates globally through its subsidiaries, which include Corn Products Germany GmbH (Germany), Corn Products Espana Holding LLC (Spain), National Starch & Chemical (Thailand) Ltd), Ingredion Singapore Pte. Ltd. (Singapore), Ingredion Mexico, S.A. de C.V. (Mexico), and CP Ingredients India Private Limited (India).

 

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In 2021, North America accounted for a market share of 21.6% in the global modified starch market. The North American modified starch market is completely driven by the US market. The US modified starch industry has witnessed technological advancement, which has increased its usage in various industries. In the US, modified starch is primarily used in canned soups and in blends where its thickening power is exploited, especially for fill viscosity. It is also used as a base for gelling agents in confections, for thickeners in products such as pastry and pie fillings, and in instant puddings. The growing trend of ready-to-eat meals and processed food is also driving the modified starch market in the region. Modified starch is frequently used in food applications due to its functional properties.

Fruit and Vegetable Processing Market Growth by Emerging Trends, Analysis, & Forecast

The fruit and vegetable processing market is estimated to account for nearly USD 8.7 billion in 2022 and is projected to reach a value of nearly USD 11.8 billion by 2027, growing at a CAGR of 6.4% from 2022. The demand for fruit and vegetable processing is increasing significantly, due to the increasing consumption of processed fruit and vegetable products in developing countries such as China, India, South Africa, and Brazil.

 

 

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Key players in this market include GEA Group (Germany), Alfa Laval (Sweden), JBT Corporation (US), Heat & Control Inc. (Sweden), Krones AG (Germany), Bühler (Switzerland), Marel (Iceland), Bigtem Makine A.S. (Turkey), Fenco Food Machinery S.R.L (Italy), Anko Food Machine co., Ltd (Taiwan), Syntegon Technology GmbH (Germany) and Finis (US).

 

The companies are focusing on offering a diverse range of fruit and vegetable processing equipment technologies that comply with government regulations and policies across regions. For example, Gea has extended homogenizer range with GEA Ariete Homogenizer 3160 for food industry. GEA Ariete Homogenizer 3160, It features up to 1500 bar, with significantly increased flow rate capacity between 200 and 1200 bar. Additionally March 2021, Buhler has introduced CHRONOS OML-1060 fully automated machine, it a automated solution for food & feed industries.

 

GEA Group is one of the leading technology suppliers for the food processing industry. The company provides customized solutions in food, dairy processing, dairy farming, beverage processing, pharma, chemical, marine, leisure & sport, land-based transportation, and utilities. The company’s international level industrial technology specializes in machinery and plants as well as process technology, components, and comprehensive services. The company operates through five segments, namely separation & flow technologies, liquid & powder technologies, food & healthcare technologies, refrigeration technologies, and farm technologies.

 

The company has its presence in more than fifty countries across the globe, spanning North America, South America, Europe, Africa, and Asia Pacific. The group operates through its subsidiaries, which include GEA Procomac S.p.A (Italy), GEA Process Engineering Private Limited (India), GEA Food Solutions Brasil Comércio de Equipments Ltd (Brazil), GEA Food Solutions North America, Inc. (US), and GEA Food Solutions UK & Ireland Limited (UK).

 

Bühler is primarily engaged in providing industrial solutions for processed food, commodity food, die casting, renewable energy, and feed. Bühler operates through four business segments—grains & food, consumer foods, advanced materials, and corporate functions. The company, through its subsidiaries, manufactures and markets food and chemical processing, die casting, and material handling machinery. It offers products for various industrial applications, such as cleaning, optical sorting, milling, grinding, sifting & grading, mixing, wet grinding, extrusion & dough preparations, and ingredient handling.

 

The company’s core technologies are in the areas of mechanical and thermal process engineering. Bühler also offers industrial services, such as machinery repair, strategic consulting, process plant optimization services, energy consulting, and manufacturing & logistics services. The company has its presence in 140 countries around the world, including North America and Europe.

 

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The Asia Pacific is estimated to account for the largest market share in the processed fruits & vegetables market in 2022. The fruit & vegetable processing industry in developing economies such as Asia Pacific and South American countries has developed due to factors such increasing number of working women and middle-class population, bulk production of various agricultural products, and government subsidies in countries such as India, coupled with trade liberation.

Agricultural Sprayers Market to Showcase Continued Growth in the Coming Years

The global agricultural sprayers market is estimated at USD 2.5 billion in 2022. It is projected to reach USD 3.5 billion by 2027, recording a CAGR of 6.8% during the forecast period. Due to significant advancements in farming and spraying technology, the market for agricultural sprayers is growing. Sprayers are becoming more common in developing economies like China, Russia, and Brazil for crop protection. Farm operators now depend on sprayers to apply insecticides, herbicides, and fertilizers in the field pre and post-harvest as needed. Farmers can apply chemicals more precisely and efficiently due to the technological developments in agricultural sprayers.

 

 

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The Agricultural sprayers market consists of a few globally established players such as John Deere (US), CNH Industrial NV (UK), Kubota Corporation (Japan), Mahindra & Mahindra Ltd (India), STIHL AG (Germany), AGCO Corporation (US), YAMAHA Motor Corporation (Japan), Bucher Industries AG (Switzerland), DJI (China), Exel Industries (France), Amazonen Werke (Germany), B group Spa (Italy), Case IH (US), HD Hudson Manufacturing Co (US), and Buhler Industries Inc (Canada). Strategic partnerships were the dominant strategy adopted by the key players, followed by expansions and new product launches. These strategies have helped them to increase their presence in different regions and industrial segments.

 

John Deere is one of the leaders in the field of agricultural products since the introduction of automatic guidance equipment and yield monitors in the late 1990s. It manufactures equipment for agricultural, construction, turf, and forestry industries. The company’s financial services, machinery parts services, power systems, and the intelligent solution group businesses support and differentiate its equipment business. The agricultural product portfolio of the company consists of tractors, sprayers, mowers, loaders, shredders & cutters, scrapers, and precision agricultural technology. Agricultural variable-rate technology is offered as a part of the precision agriculture segment. The main subsidiaries of the company are Gan-Gvat Assets Ltd. (Israel), John Deere GmbH (Germany), Jenco Wholesale Nurseries Inc. (US), John Deere S.A. (Mexico), and John Deere Agricultural Machinery Co. Ltd. (China). The majority of John Deere’s business is concentrated in the North American countries of the US and Canada. Europe, Russia, India, Brazil, and China are the other key markets of the company.

 

CNH Industrial NV is among the global leaders in the manufacturing, designing, marketing, selling, and funding of farm machineries across the globe. The company has 12 brands that cater to agricultural and construction industries. The company has presence around 180 plus countries across the globe alongwith 49 research and development centers, and 64 manufacturing facilities. CNH Industrial NV specializes in offering speciality vehicles for firefighting, as well as defense. The agricultural equipment segment of CNH industrial offers farm machinery and tools such as self-propelled sprayers, material handling equipment, two-wheel and four-wheel drive tractors, harvesters, planting & seeding equipment, hay & forage equipment, and soil preparation & cultivation implements. This equipment is marketed and manufactured under the New Holland Agriculture brands, Case IH Agriculture, and Steyr brands. As far as agricultural sprayer is conserved, it is marketed under the banner of Case IH Agriculture.

 

Kubota Corporation is a global manufacturing company specializing in farm & industrial machinery and water & environment products, with a corporate presence in more than 100 countries. The company has segmented its product line as follows: agriculture, water, and lifestyle. The agriculture unit of the company manufactures tractors, harvesters & transplanters, mowers, balers, cultivation, spreading, and seeding equipment, and other agricultural machinery & implements. The company serves its agricultural sprayers through its acquired company, Kverneland Group, with the Kverneland brand name. This company was acquired in May 2012. Kubota Corporation’s plants, factories, and business centers are majorly located in Japan. The company has a wide geographical coverage through group companies located in North America, Asia & Oceania, and Europe. Kubota Tractor Corporation (US), Great Plains Manufacturing, Inc. (US), Kubota Canada Ltd. (Canada), Kubota Korea Co., Ltd. (South Korea), Kubota China Holdings Co., Ltd. (China), and Kubota Europe S.A.S. (France) are some of the subsidiaries of Kubota Corporation.

 

Mahindra & Mahindra Ltd. is engaged in the business of farm equipment and automotive. It is one of the leading players in the manufacturing and marketing of tractors, utility vehicles personal & commercial vehicles, application, and light trucks, among others. The company has a strong presence in agribusiness, components, aerospace, consulting services, energy, and industrial equipment. The company’s farm equipment and agri-business are the largest contributors to the Mahindra Group, which includes 27 businesses, 18 subsidiaries, and nine companies. Other than the equipment segment, it is also engaged in an end-to-end agriculture value chain by providing fertilization, irrigation, seeds, and varied agriculture, and allied businesses.

 

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India, Australia, Japan, and other nations in the Asia-Pacific region are traditional agricultural countries. Traditional agriculture relied primarily on human labor and draught animals. The majority of modern agricultural operations depends on machinery, particularly fast, potent tractors, combines, and implements. Tractors with mounted and trailed implements such as sprayers allow the mechanization of many agricultural operations. Due to the increasing average farm size, larger, more upgraded sprayers are being used to meet farm needs rather than older, less efficient ones. This will drive market growth in the Asia-Pacific region during the forecasted period.