Company expects to tap more than 100 billion euros of value in accessible and ag-adjacent markets with estimated peak sales potential of more than 30 billion euros to promote regenerative agricultural practices.
Bayer today announced its Crop Science Division will capitalise on opportunities presented by the shift to regenerative agriculture to grow in adjacent markets in addition to its core business of seeds, traits, crop protection and digital. At its 2023 Innovation Summit, the company identified growth potential in segments like crop fertility, biologicals, biofuels, carbon farming, precision application services as well as digital platforms and marketplaces, all of which are serving the needs of agriculture. Overall, the company expects to access more than 100 billion euros in these adjacent markets annually, in effect doubling the division’s potential market which today stands at more than 100 billion euro for the core portfolio alone. Importantly, by the middle of the next decade, Bayer envisions shaping regenerative agriculture on more than 400 million acres, built on the foundation of its leading agriculture input solutions.
This endeavor, in combination with the division’s leading seeds, traits and crop protection R&D pipeline were showcased in New York, featuring holistic system solutions the company is uniquely positioned to provide, fueling long-term growth of the company as it propels its ambitious growth plan to drive regenerative agriculture.
“We are envisioning an even broader role in agriculture. With the most powerful innovation engine in the industry and leading market positions, Bayer is uniquely set to provide the solutions that farmers need in light of food security and climate change,” said Rodrigo Santos, President of Bayer’s Crop Science Division and Member of the Board of Bayer AG. “We define regenerative agriculture as increasing food production, farm incomes and resilience in a changing climate while renewing nature. Our portfolio will deliver future innovations with regenerative agriculture at the core, and we will explore new market opportunities to further allow farmers to combine productivity, profitability, and sustainability benefits.”
Focus on solutions that drive regenerative agriculture
Farmers around the globe can expect access to industry-leading innovations that not only deliver yield improvements, but which can also regenerate soil and minimize the impact of farming on the climate and broader environment – tailored to the different crops. On the farm of the future, the terabytes of data captured from the field as well as the tons of carbon dioxide sequestered, will be as important to the farmer as the yield that each field produces. Going forward, Bayer will focus its investment on solutions that deliver important pillars of regenerative agriculture. This includes improved productivity, social and economic wellbeing of farmers and communities, conservation of water, mitigation of climate change, improved soil health as well as preservation and restoration of biodiversity.
To this end, Bayer’s core portfolio of crop protection, seeds and traits and digital products is best positioned to grow, and significant advancements are being made annually. The company is investing in its industry-leading pipeline to accelerate the delivery of solutions that growers need. Late-stage transformative technologies are being combined with the annual refresh of the global seed portfolio and the addition of hundreds of new product registrations and formulations every year.
