Agrochemicals market

Global Agrochemicals Market Size, Share, Growth Analysis, By Fertilizer Type(Nitrogen Fertilizer, Phosphatic Fertilizer), By Pesticide Type(Fungicides, Herbicides), By Crop Type(Cereals & Grains, Oilseeds & Pulses), By Mode of Application(Foliar, Fertigation) - Industry Forecast 2022-2028


Report ID: SQSG15C2009 | Region: Global | Published Date: October, 2022 | Pages: 157

Global Agrochemicals Market Insights

Global Agrochemicals Market size was valued at USD 224.9 billion in 2021 and it is expected to reach USD 272.0 billion by 2028, at a CAGR of 2.8% over the forecast period (2022-2028).

Agrochemicals are pesticides, herbicides, or fertilizers used for the management of ecosystems in agricultural sectors. Rudimentary variations on agrochemicals have been used for millennia to improve crop yields and control the populations of agricultural pests. Agrochemicals are classified into fertilizers and pesticides. Fertilizers enhance the quality of the crop by providing essential nutrients to the crop and soil whereas pesticides protect the crops and control, kill, or repel pests and weeds that can harm the crop. Considering the current global population scenario, it is extremely important to increase the production of crops within the present arable land to feed the global population. Thus, agrochemicals play an important role in the agriculture industry, assisting farmers in enhancing their crop quality as well as quantity.

The major factors which drives the global agrochemicals market include high population and consequent increase in the demand for food, soil degradation, less agricultural land, and increase in awareness in the consumers regarding the benefits of agrochemicals. However, the market growth may be hampered by the potential harm of using synthetic pesticides such as 2, 4-D and atrazine herbicide. The growing animal husbandry and animal feed sectors are expected to have a positive impact on the growth of the global agrochemicals market. The feed industry in the U.S. is the largest in the world. According to the American Feed Industry Association (AFIA), the export value of animal feed in the U.S. was USD 13 billion and the volume was 32.4 thousand tons. Turkey, Bolivia, Romania, and Tunisia grew at positive rates over the last few years. According to the International Feed Industry Federation (IFIF), commercial production of feed takes place in over 130 countries and generates an annual turnover of USD 400 billion every year.

To get more reports on the above market click here to Buy The Report

Global Agrochemicals Market Segmental Analysis

Global Agrochemicals Market has been segmented based on fertilizer type, pesticide type, crop type, mode of application, and region. Based on fertilizer type, agrochemicals market is segmented into nitrogen fertilizer, phosphatic fertilizer, and potassic fertilizer. On the basis of pesticide type, agrochemicals market is segmented into fungicides, herbicides, insecticides, and others. According to crop type, global agrochemicals market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, and others. By mode of application, the market is segmented into foliar, fertigation, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.

Analysis by Fertilizer Type

In 2021, the nitrogen fertilizer segment of the agrochemicals market is projected to account for the largest share, by fertilizer type. Nitrogenous fertilizers are widely accessible, aid in accelerating plant growth, and increase crop yields. Farmers hardly need to add nitrogen fertilizers to their farms and gardens to make available just for the prescribed amount nutrients for their plants’ growth. The nitrogenous fertilizer industry includes the production of synthetic ammonia, nitric acid, ammonium nitrate, and urea. Synthetic ammonia and nitric acid are used primarily as intermediates in the production of ammonium nitrate and urea fertilizers.

Analysis by Pesticide Type

Crop protection chemicals are expected to witness increased penetration in the market owing to the growing frequency of rodent and pest attacks on crops. Pesticides that target plants are frequently employed in agriculture. They are employed to eradicate weeds and other undesirable plants from crops. France produces 2,923.46 amount of pesticides. The herbicides segment is projected to account for the largest share during the forecast period. Herbicide use is increasingly being adopted around the world. Many developing countries (India, China, and Bangladesh) are facing shortages of workers to hand weed fields as millions of people move from rural to urban areas. In these countries, herbicides are far cheaper and more readily available than labor for hand weeding. History shows that in industrializing countries in the past, including the US, Germany, Japan, and South Korea, the same phenomenon occurred- as workers left agriculture, herbicides were adopted. It is inevitable that herbicide use will increase in sub-Saharan Africa, not only because millions of people are leaving rural areas, creating shortages of hand weeders, but also because of the need to increase crop yields. Companies such as Bayer (Germany), UPL (India), Syngenta (Switzerland), and Adama (Israel) manufacture a wide variety of herbicides.

Analysis by Crop Type

The use of agrochemicals is the highest for the cereals and grains segment due to its vast area of cultivation across the globe which is driving the growth of the market. The majority of the world's cereal and grain consumption occurs in the Asia Pacific. The use of fertilizers in the cultivation of grains and cereals has almost become a need. The demand for fertilizers is being driven by the rising consumption of cereals and grains in different regions, including rice, wheat, rye, corn, oats, sorghum, and barley. With regard to rice, wheat, and other cereals and grains, agrochemical use is at its greatest. China is the world's largest grain producer, yet has grown more dependent on food imports in recent decades so, the demand of agrochemicals are abundant in this country. Pesticides assist farmers in growing fruit and vegetable crops that are secure, of good quality, and cost-effective. Fertilizers assist in giving fruits and vegetables an abundance of nutrients. To give numerous nutrients at once, many farmers employ a combination of nitrogen, phosphorus, and potassium (NPK) fertilizers. According to the Food and Agriculture Organization of the United Nations, the production of cereal crops will increase by 60% from 2000 to 2050. Corn (Zea mays L.) is the third-most important cereal crop in the world, after wheat and rice. Every part of the corn crop has economic value; the grain, leaves, stalk, tassel, and cob can all be used to manufacture many food and non-food products. Hence, it is a challenging task to increase corn production by implementing innovative biotechnology techniques. The usage of nitrogenous fertilizers increases soil fertility, resulting in higher crop yield. Lack of soil nutrients can reduce the bioavailability of nutrients in crops like wheat and rice and can lower yields. Over the projection period, the category for fruits and vegetables is anticipated to increase at the quickest CAGR. Due to the rising health consciousness among consumers, there is a growing global demand for fresh fruits and vegetables, which can be attributed to the growth.

To get detailed analysis on other segments, Request For Sample Report

Global Agrochemicals Market Regional Insights

Asia Pacific had the top regional market position with a significant revenue share. The region is the world's top producer of agricultural products. India, China, and Japan are among the primary contributors to the regional market. China is the world's biggest exporter and manufacturer of pesticides, according to the International Trade Center (ITC) and FAO. India, behind China, Japan, and the United States, is the world's fourth-largest producer of agrochemicals, according to the Organization for Economic Co-operation and Development (OECD) and FAO. The agricultural industry has a significant impact on the regional per capita income. According to Baojing GU of the Universities of Melbourne and Zhejiang, China is the country that uses the most pesticides in agriculture globally. Over 30% of the world's pesticides and fertilizers are consumed there, while over 90% of the world's technical raw material needs are met. By analysis of future, the region is anticipated to produce 53% of the world's seafood and agricultural goods. The region's population, will increase by millions of people at a certain CAGR. The total amount of arable land in the region is decreasing as a result of the rising population, and fast urbanization and industrialization. As a result, farmers use agrochemicals that aid in boosting productivity and production.

The United States is one of the world's largest food producers and one of the top ten countries in terms of geography. The United States dominated the North American agrochemicals market due to rising demand for commodities such as blueberries, sorghum, soy, and maize. Furthermore, the United States is the world's largest producer of blueberries, almonds, sorghum, and maize. It is also, after Brazil, the country with the highest soybean production. These are the primary drivers of market growth in the region. The United States is a significant producer, consumer, and exporter of agrochemicals, according to the FAO. The country's agrochemical industry is growing as a result of improved weather patterns, higher grain commodity prices, and fewer trade tensions with China, among other factors.

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Global Agrochemicals Market Dynamics

Drivers

  • Continuous advancements in the technology used in agriculture have led to a shift in farming practices. With the increased export and import of agricultural commodities across different geographies, especially in developing regions, new types of harmful organisms have emerged, leading to an increase in the demand for novel active ingredient products to safeguard crops. As, the globalization of the agrochemical industry has a huge impact on the Asian crop protection markets. With the highest rate of population growth, increasing the need for food production, and economic growth, the demand for various agrochemicals such as herbicides and pesticides are increasing. While the demand for food products is increasing in the developing countries of Asia Pacific, the available landmass for agriculture is shrinking due to the increased effect of urbanization that propels farmers to use various agrochemicals to maintain soil health and increase land productivity.
  • Emergence for increasing agricultural productivity, in the global agrochemicals industry, the government has played a key role in stimulating demand. Agriculturists are obligated to help the government’s efforts by receiving subsidies and tax rebates. Improved fertilizers are in higher demand in countries that rely on agriculture for their livelihood. The global agrochemicals market’s overall revenue volume is expected to rise in these circumstances. The utilization of agrochemicals in the production of cash crops has resulted to the growth of the agrochemicals market during the forecast period.

Restraints

  • Rising organic fertilizer sector with rising awareness of health, food safety, environmental protection, and animal welfare regulations, the organic food business has seen rapid expansion in developing nations. The organic food is becoming increasingly popular. The surge in demand for healthy and safe food items as well as rising per capita income are expected to fuel the organic food sector and raise the use of bio fertilizers which will have impact on chemical fertilizer composition. As a result, the rising organic fertilizer sector is hampering the growth of the global agrochemicals market during the forecast period.
  • Growth of the organic fertilizer industry as the organic food industry witnessed high growth across the emerging countries, with increasing awareness regarding health, environment protection, food safety, and animal welfare reforms. The demand for organic food products is increasing, and according to the estimates of the Organic Trade Association, nearly 81% of American families reported to be purchasing organic food products at least once. The growing market demand for safe and healthy food products and improving per capita income are factors that are estimated to continue driving the organic food industry and increase the usage of biofertilizers, which, in turn, affects the consumption of chemical fertilizers.

Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report

Global Agrochemicals Market Competitive Landscape

There are various local players, which makes the worldwide market quite competitive. The market is flooded with products from manufacturers, such as fertilizers with increased potency and pesticides like herbicides, rodenticides, fumigants, insecticides, fungicides, and plant growth regulators. Players compete against one another based on a variety of factors, such as product quality, costs, and services, as well as on innovation, sustainability, and corporate reputation. The main approaches used by businesses to increase their market share include joint ventures, M&As, distribution networks & geographic expansions, and the introduction of new products. "CATàSYNTH Speciality Chemicals", a joint venture between Solvay and Anthea, a major producer of specialty chemicals in India, was founded. The two companies intended to use this to begin producing catechol derivatives. Additionally, it is committed to producing and supplying a wide range of goods, including helional, heliotropin (piperonal), and methylenedioxybenzene, which are widely utilized in the agrochemical.

Top Player’s Company Profiles

  • Clariant AG
  • BASF SE
  • Huntsman International LLC
  • Bayer AG
  • The DOW Chemical Company
  • Solvay
  • Nufarm
  • Evonik Industries AG
  • Croda International Plc
  • Helena Agri-Enterprises, LLC
  • Ashland, Inc.
  • Land O’ Lakes, Inc.
  • FMC Corp.
  • ADAMA Ltd.
  • Stepan Company

Recent Developments

  • In February 2022, Adama launched an advanced cross-spectrum spring foliar herbicide for cereals, Timeline® FX. The product is engineered with three active ingredients with complementary modes of action together with a built-in adjuvant to ensure flexibility for growers by giving the widest application window of any herbicide for controlling broadleaf and grass weeds for cereal crops.
  • In January 2022, Yara and Lantmännen signed a commercial agreement to bring fossil-free fertilizers to market. The collaboration of the companies resulted in a commercial contract for green fertilizers, which will be produced by Yara and marketed by Lantmännen in Sweden starting in 2023.

Global Agrochemicals Key Market Trends

Agrochemicals are highly important in obtaining high yields as these are necessary to prevent pests and diseases in the field. As per a report by FAO, nearly 40% of the world’s agricultural crops are lost to pests and diseases each year. To tackle these problems and to increase production, the use of crop protection chemicals will increase. Global pesticides use increased from 2000 by 4.2 million tons. Agrochemicals also play a vital role in crop growth, showing improved performance and noticeable results. Supplying adequate plant nutrients is essential for the healthy growth as well as the production capacity of plants. The nutrient demand varies with crops and soil. These nutrient demands can be effectively fulfilled through the use of chemicals. For instance, urea provides 46% nitrogen to the soil, whereas organic fertilizer like neem cake could provide only 2-5% of nitrogen, which is an essential element for plant growth and development.

Global Agrochemicals Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our agrochemicals market analysis, rapid urbanization and industrialization have resulted in a reduction in cultivable land as the number of industries, houses, highways, and other infrastructure investment structures has increased. Furthermore, rising population demand for more food, rising technological progress in the agricultural industry, a scarcity of arable land, rising environmental concerns, and advancements in plant breeding and management capability around the world are all influencing market growth, leading to increased use of agrochemicals.

Report Metric Details
Market size value in 2021 USD 224.9 billion
Market size value in 2028 USD 272.0 billion
Growth Rate 2.8%
Base year 2021
Forecast period 2022-2028
Forecast Unit (Value) USD Billion
Segments covered
  • Fertilizer Type
    • Nitrogen Fertilizer, Phosphatic Fertilizer, Potassic Fertilizer
  • Pesticide Type
    • Fungicides, Herbicides, Insecticides, Others
  • Crop Type
    • Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others
  • Mode of Application
    • Foliar, Fertigation, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Clariant AG
  • BASF SE
  • Huntsman International LLC
  • Bayer AG
  • The DOW Chemical Company
  • Solvay
  • Nufarm
  • Evonik Industries AG
  • Croda International Plc
  • Helena Agri-Enterprises, LLC
  • Ashland, Inc.
  • Land O’ Lakes, Inc.
  • FMC Corp.
  • ADAMA Ltd.
  • Stepan Company
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Agrochemicals Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Agrochemicals Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Agrochemicals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Agrochemicals Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Agrochemicals Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Agrochemicals Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$3,500
BUY NOW GET SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

SPEAK TO AN ANALYST

FAQ's

Global Agrochemicals Market size was valued at USD 224.9 billion in 2021 and it is expected to reach USD 272.0 billion by 2028, at a CAGR of 2.8% over the forecast period (2022-2028).

There are various local players, which makes the worldwide market quite competitive. The market is flooded with products from manufacturers, such as fertilizers with increased potency and pesticides like herbicides, rodenticides, fumigants, insecticides, fungicides, and plant growth regulators. Players compete against one another based on a variety of factors, such as product quality, costs, and services, as well as on innovation, sustainability, and corporate reputation. The main approaches used by businesses to increase their market share include joint ventures, M&As, distribution networks & geographic expansions, and the introduction of new products. "CATàSYNTH Speciality Chemicals", a joint venture between Solvay and Anthea, a major producer of specialty chemicals in India, was founded. The two companies intended to use this to begin producing catechol derivatives. Additionally, it is committed to producing and supplying a wide range of goods, including helional, heliotropin (piperonal), and methylenedioxybenzene, which are widely utilized in the agrochemical.'Clariant AG','BASF SE','Huntsman International LLC','Bayer AG','The DOW Chemical Company','Solvay','Nufarm','Evonik Industries AG','Croda International Plc','Helena Agri-Enterprises, LLC','Ashland, Inc.','Land O’ Lakes, Inc.','FMC Corp.','ADAMA Ltd.','Stepan Company'

Continuous advancements in the technology used in agriculture have led to a shift in farming practices. With the increased export and import of agricultural commodities across different geographies, especially in developing regions, new types of harmful organisms have emerged, leading to an increase in the demand for novel active ingredient products to safeguard crops. As, the globalization of the agrochemical industry has a huge impact on the Asian crop protection markets. With the highest rate of population growth, increasing the need for food production, and economic growth, the demand for various agrochemicals such as herbicides and pesticides are increasing. While the demand for food products is increasing in the developing countries of Asia Pacific, the available landmass for agriculture is shrinking due to the increased effect of urbanization that propels farmers to use various agrochemicals to maintain soil health and increase land productivity.

Asia Pacific had the top regional market position with a significant revenue share. The region is the world's top producer of agricultural products. India, China, and Japan are among the primary contributors to the regional market. China is the world's biggest exporter and manufacturer of pesticides, according to the International Trade Center (ITC) and FAO. India, behind China, Japan, and the United States, is the world's fourth-largest producer of agrochemicals, according to the Organization for Economic Co-operation and Development (OECD) and FAO. The agricultural industry has a significant impact on the regional per capita income. According to Baojing GU of the Universities of Melbourne and Zhejiang, China is the country that uses the most pesticides in agriculture globally. Over 30% of the world's pesticides and fertilizers are consumed there, while over 90% of the world's technical raw material needs are met. By analysis of future, the region is anticipated to produce 53% of the world's seafood and agricultural goods. The region's population, will increase by millions of people at a certain CAGR. The total amount of arable land in the region is decreasing as a result of the rising population, and fast urbanization and industrialization. As a result, farmers use agrochemicals that aid in boosting productivity and production.

Speak With Our Analyst

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Agrochemicals market

Product ID: SQSG15C2009

$3,500
BUY NOW GET SAMPLE