According to the Market Statsville Group, the global agrochemicals market size was valued at USD 241.1 billion in 2021 and is expected to reach USD 311.5 billion by 2030, growing at a CAGR of 3.2% from 2022 to 2030. Agrochemicals are specially engineered chemicals that are used in agricultural activities for efficient crop productivity and enable crop protection against insects, weed, and pest’s fungi. It is classified into two categories, namely, bio-based chemicals and synthetic chemicals.
Considering the current market conditions, there is a wide increase in the global population are rapidly growing the food consumption demand and with limited amount of arable land, agrochemicals are expected to play a significant role in assisting farmers to meet the increased demand for crops with better quality and quantity. Hence, this trend is expected to continuous which further raises the demand and generates revenue in the current market scenario.
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Factors Affecting the Agrochemicals Market over the Forecast Period
- Consumer awareness regarding the benefits of pesticides and fertilizers is also the main reason fuelling the market growth.
- The government of many countries have imposed strict policies on the agrochemicals market and thus restraining the global market to some extent.
- Prolonged use of agrochemical may lead to several diseases such as Alzheimer's Cancer. The arises of these diseases may be a challenging factor for the companies operating in the market.
- There is urgent need of better yield per unit area of the farm and for upcoming years and so the dependence on agrochemicals is eminent. Therefore, there is ample opportunities for agro-based chemicals globally.
Impact of COVID-19 on the Agrochemicals Market
Although COVID-19 is actually a public health crisis it also affected the world economy. China is the leading producer of agrochemicals and therefore due to entirely shut down of industries amid the COVID-19 pandemic disturbed the entire supply chain in China and the globe, respectively. According to the Chinese government, they will reopen the factories as soon as possible and will work on the deficit which has been caused due to uncertain pandemic event. The same perspective can be applied to most similar markets. It is estimated that with the upcoming growth of the market the negative impact under the current scenario will be recovered in the near future.
Agrochemicals Market: Scope of the Report
The report outlines the study of the agrochemicals market based on distribution channel, product type, and crop type.
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Based on distribution channel, the agrochemicals market has been segmented into:
- Direct Selling
- Selling Through Intermediaries
- Dual Distribution
- Reverse Channel
Based on product type, the agrochemicals market has been segmented into:
- Plant Growth Regulators (PGR)
Based on crop type, the agrochemicals market has been segmented into:
- Food grain
- Cash Crop
Agrochemicals Market: Regional Outlook
Based on the region, the global agrochemicals market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2021, North America was estimated to be the largest market around the world due to growth in industrialization and commercialization in the US and Canada. Moreover, the Europe agrochemical market shows stagnant growth due to strict government policies and the European countries don’t use phosphate-based agrochemicals as it is considered hazardous for the consumers in the local market.
Although, Asia-Pacific is projected to grow at the highest CAGR in the global agrochemicals market over the Forecast Period. The region is backed by powerful emerging nations such as China, India, and South Korea which are expected to boost the market exponentially due to the overflowing population and rapid growth in agrochemical applications.
The agrochemicals market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report's studies will outlook one of the most exhaustive analyses of the market, capturing all agrochemicals industry aspects.
Key Global Agrochemicals Market Competitors include:
The Agrochemicals market is highly fragmented, with the presence of a large number of small players across the globe. The vital agrochemical manufacturers operating in the global market are –
- Syngenta AG
- Bayer Crop Science
- BASF SE
- Dow Agro Science
- Adama Ltd
- Nufarm Ltd
- Sumitomo Chemical Co Ltd
- UPL Limited
- Nutrichen Company Limited
- EID Parry
- Atomic Vaccum
- Evonik Industries
- Clariant Chemicals
The agrochemicals market report provides a thorough analysis of macroeconomic factors and every segment's market attractiveness. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the market players' presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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Agrochemicals Market Report Covers Comprehensive Analysis On:
- Market Segmentation Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply Demand Analysis
- Product Life Cycle Analysis
- Porter's Five Forces Value Chain Analysis
- Developed Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, Trends
- Conclusion Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
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Agrochemicals Market Regional Analysis Includes:
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia New Zealand, Rest of Asia Pacific)
- The Middle East Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA