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Global Agrochemicals Market Size, Share, Growth, Industry Trends and Forecast 2020-2030
The global market for agrochemicals valued 157.7 USD billion in 2020 and is expected to reach 392.7 USD billion by 2030, at a CAGR of 4.3% during the forecast period.Agrochemical serves as a specially engineered chemical product used for agriculture, to enhance crop productivity and helps to protect from herb, insect, and fungi. It is a chemical product used in agriculture, horticulture, and floriculture. It includes a broad range of chemical growth agents, pesticides, hormones, concentrated stores of raw animal manure, and synthetic fertilizers. Additionally, according to the Proceedings of the National Academy of Sciences (PNAS) of the United States of America, pathogens and pests cost nearly $40 billion to the plants and forest crop production in the U.S. every year. This statistic is reflective of the need for agricultural chemicals such as herbicides, insecticides, fungicides, and pesticides on a large scale. The commercial and residential gardens are also affected by the resultant economic loss. As a result, they incorporate agrichemical fertilizers and sprays to eradicate pest issues along with promoting plant growth and crop yields significantly.
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Market Dynamics and Factors:
The global agrochemicals market is driven due to the practices of new technological farming by farmers in the developing nation. The increasing population demand for food grains and the declining cultivable land due to urbanization and industrialization is also one of the main factors driving the global market growth. Crops such as vegetables, fruits, and grains. Which provide the higher value, along with the protected crops have been gaining more return in investments, which help to boost the market growth. However, growing acceptance of genetically modified seeds by the farmers, along with government initiatives towards organic farming and integrated pest management (IPM) can restrain the market growth. Increasing government programs to educate farmers and provide them with the best possible methods to produce high-quality crop yield, farms and livestock is considered an opportunity for the market to grow in a positive manner.
Market Segmentation:
Global Agrochemicals Market – By Type
Fertilizer
Pesticides
Others
Global Agrochemicals Market – By Application
Foliar
Fertigation
Others
Global Agrochemicals Market – By Crop Type
Cereals
Grains
Oilseeds & Pulses
Fruits & Vegetables
Others
Global Agrochemicals Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
Asia-pacific is dominating the market across the world. The growth in this region attributed to the government initiative towards farmers by providing agricultural subsidy in the form of financial aid to farmers to supplement their income and manage the supply of agricultural commodities. Europe is the second-largest dominating region across the world. In which France accounted for the highest market share of agrochemicals in the European market in the year 2018. North America is anticipated to show significant growth in the upcoming years. Owing to the rising demand for pesticides and fertilizers to induce higher crop production in the region.
Competitive Scenario:
The leading market players of the global agrochemicals market are BASF SE, Bayer AG, DowDuPont, FMC Corporation, DuSolo Fertilizers, Yara International ASA, The Mosaic Company, Israel Chemicals Limited (ICL), WinHarvest Pty Ltd, Syngenta AG, Nutrient Ltd., PhosAgro, Saudi Arabia Fertilizer Company (SAFCO), OCI N.V., S.A OCP, Jordan Abyad Fertilizers and Chemicals Company, K+S KALI GmbH and Heringer.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Agrochemicals industry, although key threats, opportunities and disruptive technologies that could shape the Global Agrochemicals Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Agrochemicals Market most.
The data analysis present in the Global Agrochemicals Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Agrochemicals Market business.
The 2021 Annual Global Agrochemicals Market offers:
100+ charts exploring and analysing the Global Agrochemicals Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Agrochemicals Market type
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