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Agrochemicals Market by Product, Application, and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 167
  • SKU: IRTNTR40986
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The agrochemicals market is estimated to grow/decline at a CAGR of 4.48% between 2022 and 2027. The size of the market is forecast to increase by USD 49 million. The growth of the market depends on serval factors, including the increasing use of herbicides, the growing demand from developing countries, and the technological improvements leading to efficient methods of agriculture.

This report extensively covers market segmentation by product (fertilizers and pesticides), application (cereals and grains, oilseeds and pulses, and fruits and vegetables), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

 What will the Size of the Agrochemicals Market be During the Forecast Period?

Agrochemicals Market Size

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Parent Market Analysis

Technavio categorizes the global agrochemicals market as a part of the global fertilizers and agricultural chemicals market within the overall global chemical industry. The market covers fertilizers such as nitrogen, phosphorus, potassium, calcium, magnesium, sulfur, chlorine, iron, boron, manganese, zinc, copper, molybdenum, and nickel. Agricultural chemicals include insecticides, fungicides, herbicides, bio-pesticides, fumigants, and rodenticides. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Agrochemicals Market: Key Drivers, Trends, Challenges, and Customer Landscape

The increasing use of herbicides is notably driving the market growth, although factors such as viable substitutes in organic farming may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Agrochemicals Market Driver 

The increasing use of herbicides is the key factor driving the global agrochemicals market growth. Huge investments are being made in the development of new varieties of herbicides that are more effective and eco-friendlier. Most modern herbicides are formulated to decompose within a short span after application. Applications of herbicides are spread across varieties of crops, including cereals, grains, fruits, vegetables, oilseeds, and pulses. The shifting presence of consumers toward fruits and green vegetables, propelled by the increasing awareness regarding health and fitness, fuels the use of herbicides in agricultural applications.

Moreover, constant protests regarding the ban on harmful herbicides have been in the news. However, their presence in the market is due to cheaper rates compared with their substitute products. Many industry players are developing bio-based herbicides. These herbicides are eco-friendly but are expensive solutions for controlling weeds that are resistant to chemical-based herbicides. Such factors are expected to drive the growth of the market during the forecast period.

Key Agrochemicals Market Trend

The implementation of Integrated Pest Management (IPM) as a new method of crop protection will fuel the global agrochemicals market growth. Pest control involves almost 35% of a farmer's crop production cost, and pests cause losses of 11%-32% currently. Pesticides play a very important role in controlling pests. However, rising pest resistance to pesticides and environmental and health concerns have led to the reduced use of chemical pesticides.

IPM can be defined as a strategy involving specific procedures for pest prevention in an agricultural environment. It is a prevention method that creates an inhospitable environment for pests through systemic resistance and proper operation design. IPM is an integration of multiple control methods involving inspection, monitoring, and reporting, and a pesticide is only applied when it is assumed to be most effective during a pest's life cycle. Such developments and innovations are expected to positively impact the growth of the market during the forecast period

Key Agrochemicals Market Challenge

The viable substitute for organic farming is a major challenge to the global agrochemicals market growth. Organic crops and crop-based foods have 19%-68% higher levels of antioxidants like polyphenolics compared with conventionally grown crops. These antioxidants reduce the risk of chronic diseases, which include neurodegenerative and cardiovascular diseases and even certain types of cancers. Another point is lower levels of toxic metals and minerals found in organic crops.

Organic crops also have fourfold less pesticide residue than conventional crops. Organic farming leads to less use of agrochemicals, which is a significant factor influencing health-conscious consumers. Increasing awareness among people will have a greater impact on the agrochemical industry during the forecast period.

Key Agrochemicals Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Agrochemicals Market Share by Geography

Global Agrochemicals Market Customer Landscape

 

Who are the Major Agrochemicals Market Vendors?                                     

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

american-vanguard.com - The company offers green solutions and precision ag technologies. Also, through this segment, the company focuses on the development, manufacturing, and marketing of products for agricultural and commercial use.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • 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.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Agrochemicals Market?

The market share growth by the fertilizers segment will be significant during the forecast period. Fertilizers can be further classified as synthetic and biofertilizers. Synthetic fertilizers are subdivided into nitrogenous, phosphatic, and potassic fertilizers. Nitrogenous fertilizers accounted for the largest share of the fertilizers segment in 2020. Nitrogen is one of the vital macronutrients required for the growth and development of crops. Even though there is an abundance of nitrogen in the atmosphere, only some plants have the capability to absorb nitrogen. Nitrogen ensures fast growth and improves the color and texture of plants. It improves the overall productivity of crops as well. Urea, ammonia, and ammonium nitrate are some of the commonly used nitrogenous fertilizers. The use of fertilizers for the production of cereals and grains, fruits, vegetables, and oilseeds will have a positive impact on segment growth during the forecast period.

Agrochemicals Market Size

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The fertilizers segment shows a gradual increase in the market share of USD 101.97 million in 2017 and continues to grow by 2021Phosphate 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.

Which are the Key Regions for the Agrochemicals Market?

Agrochemicals Market Share by Geography

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APAC is projected to contribute 50% of market growth by 2023. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the 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. 

This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in demand for APAC. However, a significant in-house demand for fertilizers helped vendors to sustain the growth of the market in 2020. Furthermore, the reopening of international trade in Q4 2020 is expected to boost the demand for agrochemicals in APAC during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by product, application, and region.

  • Product Outlook ( USD Million, 2017 - 2027)
    • Fertilizers
    • Pesticides 
  • Application Outlook ( USD Million, 2017 - 2027)
    • Cereals and grains
    • Oilseeds and pulses
    • Fruits and vegetables
  • Region Outlook ( USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

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 (%)

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 Vendors, Market Positioning of Vendors, 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, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Agrochemicals Market Report?

  • CAGR of the market during the forecast period.
  • Detailed information on factors that will drive the growth of the market between 2023 and 2027
  • Precise estimation of the size of the agrochemicals market size and its contribution of the market in focus to the parent market.
  • Accurate predictions about upcoming trends and changes in consumer behavior.
  • Growth of the market industry across APAC, North America, Europe, South America, and Middle East and Africa.
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors.
  • Comprehensive analysis of factors that will challenge the growth of agrochemicals market vendors.

 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global agrochemicals market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global agrochemicals market 2017 - 2021 ($ million)
    • 4.2 Geography Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.3 Product Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)
    • 4.4 Application Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Application Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 30: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
    • 6.2 Comparison by Product
      • Exhibit 32: Chart on Comparison by Product
      • Exhibit 33: Data Table on Comparison by Product
    • 6.3 Fertilizers - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Fertilizers - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Fertilizers - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Fertilizers - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Fertilizers - Year-over-year growth 2022-2027 (%)
    • 6.4 Pesticides - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Pesticides - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Pesticides - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Pesticides - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Pesticides - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Product
      • Exhibit 42: Market opportunity by Product ($ million)

    7 Market Segmentation by Application

    • 7.1 Market segments
      • Exhibit 43: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on Application - Market share 2022-2027 (%)
    • 7.2 Comparison by Application
      • Exhibit 45: Chart on Comparison by Application
      • Exhibit 46: Data Table on Comparison by Application
    • 7.3 Cereals and grains - Market size and forecast 2022-2027
      • Exhibit 47: Chart on Cereals and grains - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Data Table on Cereals and grains - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Chart on Cereals and grains - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on Cereals and grains - Year-over-year growth 2022-2027 (%)
    • 7.4 Oilseeds and pulses - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Oilseeds and pulses - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on Oilseeds and pulses - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on Oilseeds and pulses - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Oilseeds and pulses - Year-over-year growth 2022-2027 (%)
    • 7.5 Fruits and vegetables - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Fruits and vegetables - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on Fruits and vegetables - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on Fruits and vegetables - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Fruits and vegetables - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by Application
      • Exhibit 59: Market opportunity by Application ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 63: Chart on Geographic comparison
      • Exhibit 64: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 India - Market size and forecast 2022-2027
      • Exhibit 93: Chart on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.11 Brazil - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Brazil - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on Brazil - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on Brazil - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Brazil - Year-over-year growth 2022-2027 (%)
    • 9.12 Japan - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 105: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 106: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 108: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 109: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 110: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 111: Matrix on vendor position and classification
            • 12.3 American Vanguard Corp.
              • Exhibit 112: American Vanguard Corp. - Overview
              • Exhibit 113: American Vanguard Corp. - Product / Service
              • Exhibit 114: American Vanguard Corp. - Key offerings
            • 12.4 Archer Daniels Midland Co.
              • Exhibit 115: Archer Daniels Midland Co. - Overview
              • Exhibit 116: Archer Daniels Midland Co. - Business segments
              • Exhibit 117: Archer Daniels Midland Co. - Key offerings
              • Exhibit 118: Archer Daniels Midland Co. - Segment focus
            • 12.5 Arysta LifeScience Corp.
              • Exhibit 119: Arysta LifeScience Corp. - Overview
              • Exhibit 120: Arysta LifeScience Corp. - Product / Service
              • Exhibit 121: Arysta LifeScience Corp. - Key offerings
            • 12.6 BASF SE
              • Exhibit 122: BASF SE - Overview
              • Exhibit 123: BASF SE - Business segments
              • Exhibit 124: BASF SE - Key news
              • Exhibit 125: BASF SE - Key offerings
              • Exhibit 126: BASF SE - Segment focus
            • 12.7 Bayer AG
              • Exhibit 127: Bayer AG - Overview
              • Exhibit 128: Bayer AG - Business segments
              • Exhibit 129: Bayer AG - Key offerings
              • Exhibit 130: Bayer AG - Segment focus
            • 12.8 Cargill Inc.
              • Exhibit 131: Cargill Inc. - Overview
              • Exhibit 132: Cargill Inc. - Product / Service
              • Exhibit 133: Cargill Inc. - Key news
              • Exhibit 134: Cargill Inc. - Key offerings
            • 12.9 CF Industries Holdings Inc.
              • Exhibit 135: CF Industries Holdings Inc. - Overview
              • Exhibit 136: CF Industries Holdings Inc. - Business segments
              • Exhibit 137: CF Industries Holdings Inc. - Key news
              • Exhibit 138: CF Industries Holdings Inc. - Key offerings
              • Exhibit 139: CF Industries Holdings Inc. - Segment focus
            • 12.10 Corteva Inc.
              • Exhibit 140: Corteva Inc. - Overview
              • Exhibit 141: Corteva Inc. - Business segments
              • Exhibit 142: Corteva Inc. - Key news
              • Exhibit 143: Corteva Inc. - Key offerings
              • Exhibit 144: Corteva Inc. - Segment focus
            • 12.11 Drexel Chemical Co.
              • Exhibit 145: Drexel Chemical Co. - Overview
              • Exhibit 146: Drexel Chemical Co. - Product / Service
              • Exhibit 147: Drexel Chemical Co. - Key offerings
            • 12.12 Evonik Industries AG
              • Exhibit 148: Evonik Industries AG - Overview
              • Exhibit 149: Evonik Industries AG - Business segments
              • Exhibit 150: Evonik Industries AG - Key news
              • Exhibit 151: Evonik Industries AG - Key offerings
              • Exhibit 152: Evonik Industries AG - Segment focus
            • 12.13 FMC Corp.
              • Exhibit 153: FMC Corp. - Overview
              • Exhibit 154: FMC Corp. - Product / Service
              • Exhibit 155: FMC Corp. - Key offerings
            • 12.14 Gharda Chemicals Ltd.
              • Exhibit 156: Gharda Chemicals Ltd. - Overview
              • Exhibit 157: Gharda Chemicals Ltd. - Product / Service
              • Exhibit 158: Gharda Chemicals Ltd. - Key offerings
            • 12.15 Haifa Group
              • Exhibit 159: Haifa Group - Overview
              • Exhibit 160: Haifa Group - Product / Service
              • Exhibit 161: Haifa Group - Key offerings
            • 12.16 Koch Industries Inc.
              • Exhibit 162: Koch Industries Inc. - Overview
              • Exhibit 163: Koch Industries Inc. - Product / Service
              • Exhibit 164: Koch Industries Inc. - Key news
              • Exhibit 165: Koch Industries Inc. - Key offerings
            • 12.17 Nissan Chemical Corp.
              • Exhibit 166: Nissan Chemical Corp. - Overview
              • Exhibit 167: Nissan Chemical Corp. - Business segments
              • Exhibit 168: Nissan Chemical Corp. - Key offerings
              • Exhibit 169: Nissan Chemical Corp. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 170: Inclusions checklist
                • Exhibit 171: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 172: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 173: Research methodology
                • Exhibit 174: Validation techniques employed for market sizing
                • Exhibit 175: Information sources
              • 13.5 List of abbreviations
                • Exhibit 176: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Agrochemicals market growth will increase by $49 million during 2023-2027.
              The agrochemicals market is expected to grow at a CAGR of 4.48% during 2023-2027.
              Technavio has segmented the agrochemicals market by product (Fertilizers and Pesticides) ,application (Cereals and grains, Oilseeds and pulses, Fruits vegetables, South America, and MEA) , and geography (APAC, North America, Europe, South America, and Middle East and Africa).
              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, Yara International ASA are a few of the key vendors in the agrochemicals market.
              APAC will register the highest growth rate of 50.41% among the other regions. Therefore, the agrochemicals market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the agrochemicals market growth are:
              • Increasing use of herbicides
              • Implementation of Integrated Pest Management (IPM) as new method of crop protection
              The agrochemicals market vendors should focus on grabbing business opportunities from the fertilizers segment as it accounted for the largest market share in the base year.
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