Global Market Study on Agrochemicals: Increasing Need for Better Yield against Shrinking Harvest Area to Push Demand Growth
NEW YORK, NEW YORK, UNITED STATES, November 28, 2022 /EINPresswire.com/ — Agrochemical Market 2022
The Agrochemicals Market is a lucrative industry that is projected to experience significant growth over the next few years. Agrochemicals are chemical substances used in agricultural production and include fertilizers, herbicides, insecticides, fungicides, and other products. These chemicals are essential for modern farming practices as they enhance crop yields, improve soil fertility, and protect crops from pests and diseases.
At the conclusion of the forecast period, the worldwide agrochemicals market is anticipated to reach US$ 281.7 billion while expanding at a CAGR of 4.9%, in terms of value. The demand for agrochemicals in the global market is anticipated to increase as a result of factors including rising pesticide demand and rising consumption of agrochemicals in liquid form.
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The rising global population has led to increased demand for food production which is driving the Agrochemicals Market. Agrochemical manufacturers are focusing on developing innovative technologies such as biopesticides with reduced environmental impact and improved efficiency of pest control. Furthermore, increasing focus on soil health management by governments around the world is creating new revenue opportunities.
Most of the fertilizers use Potassium, Nitrogen and Phosphate as essential ingredients. Pesticides are substances that are used to treat pests or other parasitic organisms that may be harmful to crops. Many different types of pesticides, such as fungicides, herbicides, insecticides, bactericides and others, are used in agricultural farms. Soil conditioners are substances that are added to the soil to increase its ability to hold oxygen and water.
On the basis of product type, Agrochemicals can be classified into fertilizers, pesticides and others. The Pesticides segment will dominate the Agrochemical market in terms of global market value share and is estimated to account for 74.3% of the total incremental $ opportunity created by the end of the forecast period.
• Bayer AG
• YARA International ASA
• BASF SE
• Israel Chemicals Ltd.
• Nutrien Ltd.
• FMC Corporation
• The Mosaic Company
• Fengro Industries Corp.
• DowDuPont Inc.
• OCI N.V.
• Fertilizantes Heringer S.A.
• WinHarvest Pty Ltd
• Syngenta AG
• K+S KALI GmbH
• Saudi Arabia Fertilizer Company (SAFCO)
• Jordan Abyad Fertilizers and Chemicals Company
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Agrochemicals Market.
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Agrochemicals are used for several applications in the agriculture industry. For instance, agrichemicals are used to enhance crop yield in less cultivable lands. They help maintain the fertility of soil and enrich the crop ecosystem. Liquid Agrochemicals are used as pesticides for pest control. Different types of pesticides have different applications. For instance, fungicides and bactericides are used to kill bacteria and fungi in various types of crops. The solid form will lead the global Agrochemicals market and is projected to create incremental $ opportunity worth US$ 72.06 Mn by the end of the forecast period.
Development in Agriculture, Supported by Economic Growth
The world economy expanded by 3.8% (real GDP) in 2017, according to IMF figures. Along with increasing peoples’ purchasing power, economic expansion raises the standard of living. The dietary habits of the populace alter as disposable income rises.
Due to people’s shifting eating patterns, food demand has increased faster than population growth. The demand for fertilisers and insecticides has increased as a result. Pesticides and fertilisers are used to increase crop yield, soil fertility, and productivity. Consequently, it is anticipated that the need for agrochemicals will increase in line with the expansion of the agriculture sector.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Agrochemicals Market Manufacturers
Agrochemicals Market Distributors/Traders/Wholesalers
Agrochemicals Market Subcomponent Manufacturers
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The PMR report on the Agrochemicals market carefully analyses the market at a regional and global level through market segmentation on the basis of key parameters such as product type, crop type, form and region. This Agrochemicals market report is structured to facilitate the reader to develop a detailed understanding of the market.
The Agrochemicals market report begins with the definition of the market, followed by the market background, market dynamics and analysis of the market by key segments, regional analysis of the market and competition landscape. Each section of the Agrochemicals market report includes a quantitative and qualitative assessment of the market on the basis of historical developments, facts and key opinions collected from various industry participants through dedicated interviews and trends in the market.
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