Executive Summary
Bayer is set to revolutionize global agriculture with a bold plan to launch 10 blockbuster products over the next decade, each contributing over 500 million euros in sales. This initiative aims to enhance farmers’ productivity while promoting regenerative agriculture, targeting over 400 million acres worldwide. Bayer’s comprehensive approach includes new technologies, strategic collaborations, and advanced R&D, ensuring sustainable farming practices and significant market growth.
Introduction
Bayer announced an ambitious plan at its 2024 Crop Science innovation update in Chicago: launching 10 blockbuster products within the next decade to support global farmers. Each product is projected to generate over 500 million euros, contributing to a peak sales potential exceeding 32 billion euros, unprecedented in the agricultural sector. This initiative focuses on leveraging new technologies to enhance productivity and promote regenerative agriculture.
Scaling Regenerative Agriculture
Bayer aims to scale regenerative agriculture across more than 400 million acres globally by the mid-2030s. Regenerative agriculture focuses on improving soil health, increasing resilience, productivity, and mitigating climate change through reduced greenhouse gas emissions and increased carbon sequestration. It also aims to preserve on-farm biodiversity, conserve water resources, and improve the socio-economic well-being of farmers and their communities. This approach aligns with Bayer’s strategy to double its accessible market to over 200 billion euros, driven by global market growth and investments in adjacent sectors like biofuels, crop fertility, and digital platforms.
Unmatched Innovation for Future Farming
Bayer’s commitment to innovation is evident in its comprehensive R&D pipeline, driving the transition to regenerative agriculture through three key pillars:
- Annual Portfolio Refresh: Introducing new germplasm and crop protection formulations to help farmers adapt to changing environments. This includes deploying 400-500 seed hybrids and varieties annually and introducing 90-100 new crop protection formulations over the next decade.
- New Product Development: Creating novel seed and trait technologies, as well as new crop protection solutions, with blockbuster potential. Bayer aims to deliver the next generation of agricultural solutions, building on its established expertise and market positions.
- Strategic Collaborations: Partnering with key players on technologies like gene editing and biological solutions to complement Bayer’s in-house R&D efforts. These collaborations are essential for bringing innovation to market quickly and effectively.
Smart Technologies for Corn and Soybean Production
Bayer’s Preceon Smart Corn System, designed for high winds and challenging weather, promises better crop protection and higher yields, potentially generating over 1.5 billion euros in sales. The system is progressing toward a commercial launch, with a biotech version expected by 2027. Additionally, Bayer’s pipeline includes next-generation insect control traits to protect corn, with a combined sales potential exceeding 1 billion euros.
For soybeans, Bayer’s leading systems in Latin and North America offer enhanced productivity and quality, combining pest control traits and herbicide tolerance. The introduction of new traits will provide further resistance mechanisms, with peak sales potential exceeding 3 billion euros.
Transforming Rice and Wheat Cultivation
Bayer’s direct-seeded rice (DSR) system, introduced in 2023, aims to transform rice cultivation by reducing water use, greenhouse gas emissions, and labor dependency. By 2030, Bayer plans to implement this system on nearly 2.5 million acres in India. Similarly, the development of Hybrid Wheat, in partnership with RAGT, represents a significant opportunity to drive sustainable production and support global food security, with first launches targeted for the end of this decade.
CropKey: Next-Generation Crop Protection
CropKey, Bayer’s innovative approach to crop protection chemistry, uses virtual screening and computational modeling to design new molecules that fit precisely to target proteins in weeds, fungi, or pests. The first product, Icafolin, a new post-emergent herbicide, is set to launch in 2028, with a peak sales potential of over 750 million euros. Additional products in development include a broad-spectrum fungicide and a new insecticide, Plenexos, expected to launch in 2025.
Embracing Biologicals and Digital Advancements
Bayer is significantly accelerating its Biologicals R&D pipeline through partnerships with leading innovators like Ginkgo Bioworks and Kimitec. This includes products like Ibisio, a biological bird control solution expected to launch in Europe. Bayer also leverages AI technology to enhance precision agriculture and digital farming, with Climate FieldView serving as a key decision tool for farmers globally.
Conclusion
Bayer’s strategic plan to introduce 10 blockbuster products over the next decade represents a transformative approach to global agriculture. By focusing on innovation, regenerative practices, and strategic collaborations, Bayer aims to enhance productivity, ensure food security, and combat climate change, setting new standards for the agricultural industry.
Bayer’s Crop Science Division can be found here.
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