Enjoy complimentary customisation on priority with our Enterprise License!
The agrochemicals market size is forecast to increase by USD 49 million between 2022 and 2027, accelerating at a CAGR of 4.48%. In 2017, China held the largest market share, projecting an annual revenue of USD 26.62 million. The report offers extensive research analysis on the Agrochemicals Market, with a categorization based on Product, including Fertilizers and Pesticides. It further segments the market by Application, encompassing Cereals and grains, Oilseeds and pulses, and Fruits and vegetables. Additionally, the report provides geographical segmentation, covering APAC, North America, Europe, South America, and Middle East and Africa. Market size, historical data (2017-2021), and future projections are presented in terms of value (in USD million) for all the mentioned segments.
To learn more about this report, Download Report Sample
The growing demand from developing countries is a key factor driving the market growth. The growth potential in untapped markets like India and China, particularly in rural areas, is a significant focus. Currently, India uses only 0.6 kilograms of pesticides per hectare, much lower than the UK (5-7 kg/hectare) and China (nearly 13 kg/hectare). As farmer awareness increases, we can expect higher pesticide consumption. These two countries, with large populations and a substantial rural presence (67.2% in China and 44% in India), are key markets for agrochemical companies. China's agricultural production is about 140% higher than India's, and it also outpaces the European Union by 68%. The growing demand for food, coupled with limited arable land in developing nations, will drive increased use of agrochemicals to enhance crop yields and reduce losses in the foreseeable future.
The fertilizers segment showed a gradual increase in the market share of USD 101.97 million in 2017 and continued to grow by 2021. Phosphate accounted for the second-largest segment of the global fertilizers market in 2020. Phosphorus is an essential macronutrient that ensures optimum crop production. It is a key constituent of nucleic acid and regulates protein synthesis in plants. It helps in the formation of compounds, including sugars, starches, and oils. Diammonium phosphate (DAP), monoammonium phosphate (MAP), and superphosphate are some of the forms of ammonium phosphate salts applied to plants to overcome phosphorus deficiency in the soil. Extensive use of these salts as fertilizers to cultivate grains and oilseeds is expected to drive fertilizers segment growth during the forecast period.
APAC is estimated to contribute 50% to the growth of the global market during the forecast period. Large areas of farmland and good soil fertility, combined with the growing demand for food grains and an ever-rising population, make agriculture one of the largest industries in APAC. The region accounts for almost 60% of the global population and 30% of the total available land globally. It has grown to be not only the largest agrochemicals market across the globe but also the fastest-growing market for pesticide consumption. This growth is attributed to the increasing practice of modern farming procedures and the growing use of agrochemicals.
To understand geographic trends Download Report Sample
The Agrochemicals Market is fragmented in nature. Some significant players include American Vanguard Corp., Archer Daniels Midland Co., Arysta LifeScience Corp., BASF SE, Bayer AG, Cargill Inc.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
CF Industries Holdings Inc., Corteva Inc., Drexel Chemical Co., Evonik Industries AG, FMC Corp., Gharda Chemicals Ltd., Haifa Group, Koch Industries Inc., Nissan Chemical Corp., Nufarm Ltd., Nutrien Ltd., Rotam CropSciences Ltd., Syngenta Crop Protection AG, and Yara International ASA
The agrochemicals market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
Agrochemicals Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.48% |
Market growth 2023-2027 |
USD 49 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.95 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 50% |
Key countries |
US, China, India, Japan, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American Vanguard Corp., Archer Daniels Midland Co., Arysta LifeScience Corp., BASF SE, Bayer AG, Cargill Inc., CF Industries Holdings Inc., Corteva Inc., Drexel Chemical Co., Evonik Industries AG, FMC Corp., Gharda Chemicals Ltd., Haifa Group, Koch Industries Inc., Nissan Chemical Corp., Nufarm Ltd., Nutrien Ltd., Rotam CropSciences Ltd., Syngenta Crop Protection AG, and Yara International ASA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.