Agrochemicals Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Agrochemicals are chemical substances or formulations used in agriculture to enhance crop production, protect crops from pests and diseases, and provide essential nutrients to the soil for absorption by the crops. They include growth regulators, pesticides, and fertilizers. However, using agrochemicals also raises concerns about potential environmental and health impacts. Their improper use or excessive application can lead to pollution of water bodies, soil degradation, and have an adverse effect on non-target organism, including beneficial insects and wildlife. Therefore, it is important to use the most appropriate agrochemicals and follow recommended application practices to minimize any potential negative impacts on the crop, wildlife as well as the people handling the plantation.

MARKET DYNAMICS

Agrochemicals play a significant role in agriculture practices by helping to control pests, diseases, and weeds that could negatively impact crop yields. Using crop protection chemicals can increase productivity and it is essential to consider various factors while choosing the right agrochemical solution. The demand for sustainable agricultural practices has been growing across the globe which is expected to aid the demand growth of organic agrochemicals. The development of resistance in certain insect species to agrochemicals, including insecticides, is a significant concern across farms around the globe. Crop-specific nutrient management is an important aspect of modern farming practices that aims to optimize the use of nutrients based on the specific needs of different crops. It involves the application of the right volume of agrochemicals to combat the required  The increasing cost of raw materials is a significant concern for various industries, including agriculture.

MARKET SCOPE AND REPORT FEATURES

The "Global Agrochemicals Market Analysis to 2031" is a specialized and in-depth study with a major focus on the global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation by type, crop type, and geography. The global agrochemicals market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of agrochemicals worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the agrochemicals market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in agrochemicals market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global agrochemicals market, which helps understand the entire supply chain and various factors affecting the market growth.

SEGMENTAL ANALYSIS

The global agrochemicals market is segmented on the basis of product type and crop type. Based on type, the agrochemicals market is segmented as fertilizers, insecticides, herbicides, nematicides, fungicides, biological insecticides and fungicides, biological stimulants, and others. On the basis of crop type, the agrochemicals market is classified as, cereals and grains, oilseeds and pulses, fruits and vegetables, and others.

Based on product type, the fertilizers segment accounted for a major portion go the global agrochemicals market share. The increasing demand for fertilizer, including anhydrous ammonia, ammonium nitrate, and urea, can be attributed to the need for enhanced crop production. Fertilizers play a crucial role in modern agriculture by providing essential nutrients to crops, which helps optimize their growth and maximize yields. These nutrients include nitrogen, phosphorus, and potassium, among others. Anhydrous ammonia, ammonium nitrate, and urea are widely used fertilizers due to their high nitrogen content, a vital nutrient for plant development. Overall, the increasing demand for food, the need for improved crop productivity, and the adoption of modern agricultural practices have propelled the fertilizers segment growth in the agrochemicals market. Moreover, the biological insecticides and fungicides is expected to witness significant growth during the forecast period. The increasing implementation of sustainable agriculture practices is expected to be a major factor aiding the growth of this segment. Biological insecticides and fungicides are sourced from bio-based products and help efficiently mitigate or eliminate the attack of pests on crops.

REGIONAL INSIGHTS

The report provides a detailed overview of the global agrochemicals market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia-Pacific is estimated to account for a significant share of the market. One of the key reasons for this dominance is its status as the world’s top producer of agricultural goods. China was one of the largest players in the global agrochemicals market. China has a significant presence in producing and exporting agrochemicals, including pesticides and fertilizers. The large population in the region has also propelled the demand for increasing agricultural yield, thereby increasing the consumption of agrochemicals.

MARKET PLAYERS

Some of the key players operating in the agrochemicals market include, Bayer AG, YARA, UPL, ADAMA, Phytograines Cameroon SARL, CORTEVA, SOLEVO, Balton Rwanda LTD, Kynoch Fertilizer, Huntsman International LLC, Clariant AG, Ashland, Inc, Stepan Company, and Toguna Agro among others.

January, 2022: Lantmannen and Corteva signed an agreement to launch fossil-free fertilizers.

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Agrochemicals Report Scope