Agrochemicals and Fertilizers
Overview of the plant growth regulators (PGRs) market
Extensive research carried out by the analysts at Technavio has shown that the global plant growth regulators (PGRs) market will witness fast-paced growth and will post a CAGR of close to 7% during the forecast period. A major surge in the growth of the organic industry is one of the major factors driving the growth of the plant growth regulators market. The increasing awareness about the health hazards associated with the use of chemicals in food and household products is impelling individuals to shift to organic food products, which will, in turn, propel the growth prospects for the PGRs market over the coming years.
One of the recent trends gaining traction in the market is the rapid growth in the pharmaceutical industry, which is primarily driven by changing lifestyles, aging population, unhealthy eating habits, and increased occurrence of chronic diseases across the globe. With the growing pharmaceutical market, the demand for herbal medicines is rising due to high-priced allopathy substitutes. The major pharma companies are investing in R&D expenditure for developing of plant-derived medicines to cope up with the rising demand for herbal medicines. This is expected to contribute to the market growth of PGRs during the forecast period.
Competitive landscape and key vendors
The global PGRs market is highly competitive and is dominated by a few key players in the market. The key vendors have vast geographical presences with massive production facilities located globally. Nonetheless, there are a sizeable number of small regional vendors with significant shares in the market. The major players compete in
Overview of the water soluble fertilizers market
Extensive research carried out by the analysts at Technavio has shown that the water-soluble fertilizers market will witness steady growth at a CAGR of more than 5% over the forecast period. The rise in urbanization, population growth, industrialization, and energy demand has augmented the conversion of cropland to other industrial and domestic uses. According to the Food and Agriculture Organization (FAO) of the United Nations (UN), developing economies including India, and China requires an additional 120 million hectares of land to fulfill the food needs of their consumers by 2030. Moreover, arable lands are also getting wasted owing to deforestation and improper agricultural practices, which is leading to a significant loss of production yield. Water-soluble fertilizers help farmers maximize production in a sustainable manner and also accelerate the growth of crops and maintain the overall health of the plants, which will impel this market’s growth in the coming years.
Over the years, practices for soil fertility management have gained prominence mainly because of loss of arable land and an upsurge in the demand for food. Soil fertility management practices involve conservation tillage, rotation of the crop, and optimal utilization of fertilizers and pesticides. Farmers around the world are adopting soil management practices to improve the quality and quantity of agricultural production. These methods involve the use of chemicals and fertilizers for agricultural purposes. The increasing adoption of soil management practices for maintaining soil sustenance will drive this market’s growth during the forecast period
Overview of the global organic trace minerals for the animal feed market
Technavio’s market research analyst predict that the global organic trace minerals for the animal feed market will grow steadily and post a CAGR of nearly 8% by 2020. One of the major factors attributing to the growth of the market will be the growing use of organic trace minerals to sustain the livestock’s health. The use of organic trace materials like zinc, iron, copper, cobalt and others help maintain an adequate balance of minerals in the body of the animal and helps in their sustenance. Furthermore, organic trace minerals also assist in activating vital enzymes and hormones that are essential for many metabolic processes. Since the use of these minerals helps in skeletal development, strong immunity, optimum health, and reproductive performance of animals, its demand among the end users will increase substantially.
Market analysts predict that North America will be the largest in the market posting a CAGR of about 7% by 2020. Much of this region’s growth can be attributed to the extensive use of organic trace minerals. These minerals help in the production of high-quality meat and reduces the excretion of waste into the environment. Additionally, factors such as the high bioavailability of organic trace minerals in this region will also spur this market’s growth prospects owing to the implementation of stringent government regulations and rising awareness about diseases transmitted from animals to humans.
Competitive landscape and key vendors
This market is dominated by the prominent players, and the level of competition is subsequently fierce. This market also consists of a large number of
Global outlook for the seed treatment market
Market research analysts at Technavio have predicted that the global seed treatment market will grow at a CAGR of around 10% by 2020. Farmers are increasingly opting for biological seed treatment methods owing to the environmental impact and health hazards associated with the chemical agents. Biological agents are extensively researched and developed to enable organic farming and sustainable agriculture. Biological seed treatments are cost-effective and offer environmental benefits, which makes them preferable over chemical agents. Biological treatment agents are either used in isolation or in combination with chemicals to improve their efficiency and yield potential. Several seed companies in the market are investing in R&D to develop target-specific products by studying the control mechanism of these agents. Such developments in biological seed treatment methodologies will propel the growth of the overall seed treatment market during the forecast period.
North America will continue its dominance in the market and is likely to occupy around 33% of the overall market revenue during the forecast period. Much of the region’s growth comes from the US, which is one of the largest treated seed exporting countries in the world. Factors such as innovations in treatment methods of crop seeds, particularly corn, maize, wheat, and soybean drives the growth of the market. The penetration and requirement for seeds with modern traits such as
Outlook of the global azoxystrobin market
Azoxystrobin is a systemic fungicide used extensively across the agricultural industry. These plant fungicides are formulated to inhibit the growth or to kill fungi that infect crops. Azoxystrobin protects crops against fungal diseases like Septoria leaf blotch. This disease is caused by a fungus belonging to Septoria species that widely affects wheat and other grasses. The rising global demand for food grain has increased the need to enhance crop yield. Therefore, farmers are increasingly using fungicides to prevent losses due to fungal infections. With rising global food grain production, the market for azoxystrobin will have a positive outlook until the end of 2020. Extensive market research carried out by the analysts at Technavio has shown that the global market for azoxystrobin will grow at a moderate CAGR of nearly 6% by 2020.
In this industry research report, analysts have estimated factors like the rise in agricultural sustainability and the growing adoption of soil fertility management practices to impel the prospects for market growth until the end of the forecast period. With the increased use of chemical fungicides and hybrid seeds, the global agricultural industry has undergone significant developments in the past few decades. The increased emphasis on economic, environmental, and social sustainability in the agricultural sector has compelled farmers to depend on organic practices. This recent shift toward the use of bio fungicides is expected to drive the market growth for azoxystrobin during the forecast period.
Geographical segmentation of the azoxystrobin market
- North America
- Latin America
In this market research, the analysts have
Overview of the global grain and cereal crop protection chemicals market
Technavio’s market research analyst predicts the global grain and cereal crop protection chemicals market to grow at a CAGR of more than 5% by 2020. Factors such as soil erosion and land pollution have led to the reduction in the size of arable land and have subsequently forced farmers to increase the crop yield from limited size of the arable land. This requirement has increased the demand for crop protection chemicals, which helps in enhancing the yield and quality of crops. Pesticides are used to control the pests that feed on crops and also help in regaining the essential nutrients that are suitable for the crops. Moreover, the growing demand for food products, especially high-quality nutritious food, in the market will also augment the usage of pesticides so as to increase the crop yield and reduce the loss of crop from pests and diseases in the coming years.
The growing importance towards agricultural sustainability has led to the development of farming techniques, such as drip irrigation, crop protection, and soil management, to increase the crop yield. Several governments are providing subsidies and are also training farmers on using the new improved techniques for hybrid seeds, which require less water, less land, and grows at a faster rate. They are also encouraging the use of green pesticides to maintain the balance in the soil and to improve the crop productivity for future harvests.
Segmentation by type and analysis of the grain and cereal crop protection chemicals market
Agrochemicals are chemicals used to enhance the yield and quality of crops. Pesticides and fertilizers are the two major types of agrochemicals. Pesticides control pests that feed on crops or on the nutrients in the soil that are meant for crops, while fertilizers enhance the fertility of soil by providing essential nutrients for crop growth.