Agrochemicals Market global industry size, growth, emerging trends and business opportunities


Posted September 16, 2021 by rohit890

Agrochemicals are chemical products that have been specially engineered for use in agriculture to increase crop yield and protect crops from pests, insects, weeds, fungi, and other pests
 
Market Overview

Agrochemicals are chemical products that have been specially engineered for use in agriculture to increase crop yield and protect crops from pests, insects, weeds, fungi, and other pests. Agrochemicals can be produced in both, chemical as well as biological methods. Synthetic agrochemicals are a threat for the environment and are gradually being replaced by bio-based pesticides and fertilizers. An evolution in synthetic chemical manufacture has vastly improved pesticide processes to accommodate for the enormously growing global population and the consequent increases in food demands. However, it is estimated that up to 40% of the world’s crops are spoiled by plant pests and diseases – even with the effective implementation of pesticides.
The global agrochemicals market is estimated to surpass US$ 103,383.4 Mn by the end of 2027 in terms of revenue, exhibiting a CAGR of 6.2% during the forecast period (2021 to 2027).
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Market Dynamics
Increasing adoption of agrochemicals in developing countries such as India, Egypt, etc. will help boost the market during forecast period. Continuous developments in agricultural technology have resulted in a shift in farming techniques. New types of harmful organisms have emerged as a result of increased export and import of agricultural commodities across various geographies, particularly in developing regions such as Asia, leading to an increase in demand for novel active ingredient products to protect crops.
The rising population across the world, accompanied by rising affluence, is seeing a shift in consumption patterns. There is a need to not just increase production to meet demand, but also to ensure that the nutritional needs of an increasingly affluent population are met. Shrinking arable land and loss of crops due to pest attacks lead to wastage, posing a critical challenge to ensuring food and nutritional security. The agrochemical market is an important agriculture support industry, which boosts the agriculture output. These factors are supporting the growth of the agrochemicals market.
Detailed Segmentation:
• Global Agrochemicals Market, By Origin:
◦ Synthetic
◦ Organic
• Global Agrochemicals Market, By Product Type:
◦ Insecticides
◦ Fungicides
◦ Herbicides
◦ Others (Rodenticides, etc.)
• Global Agrochemicals Market, By Crop Type:
◦ Cereals & Grains
◦ Oilseeds & Pulses
◦ Fruits & Vegetables
◦ Others (Ornamental, etc.)

Key players operating in the global agrochemicals market include ADAMA Ltd., Arysta Life Science, Bayer AG, Isagro Spa, K+S Aktiengesellschaft, Nufarm, Nutrien Ltd, OCI Nitrogen, Sociedad Quimica Y Minera De Chile, and The Mosaic Company.
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Last Updated September 16, 2021