The global nanotechnology market is expected to grow at a CAGR of around 17% during the forecasted period of 2017-2024, says RNCOS in its Global Nanotechnology Market Outlook 2024 report.
The global nanotechnology market has witnessed significant growth in the recent years owing to new innovations in technology that are reshaping the global economy. Like many other industries, food & agriculture industry has witnessed significant impact through nanotechnology such as boosting nutritional value of food, restoring taste and odour etc.
The report “Global Nanotechnology Market Outlook 2024” provides the current scenario and future estimates of the industry. Nanotechnology is considered to be one of the most important tools in modern agriculture, and agri-food nanotechnology is anticipated to become a driving economic force in the near future. Agri-food focuses on sustainability and protection of agriculturally produced foods, including crops for human consumption and animal feeding.
Nanotechnology further provides new agrochemical agents and new delivery mechanisms to improve crop productivity and to reduce pesticide use. It also plays an important role in boosting agricultural production, including other applications such as nanoformulations of agrochemicals for applying pesticides and fertilizers for crop improvement, the application of nanosensors/nanobiosensors in crop protection for the identification of diseases and residues of agrochemicals among others.
Owing to the wide range of applications, Nanotechnology is poised to significantly impact all sectors of agribusiness industry and hence revolutionize the agricultural and food sectors making the industry considerably greener and competitive.
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