Agrochemicals Market Trends, Segmentation, Regional Outlook, Future Plans and Forecast to 2029
Anticipated Growth in Revenue:
The Global Agrochemicals Market size was valued at USD 225.79 Billion in 2023 and is anticipated to witness a steady growth trajectory, with the total Agrochemicals revenue projected to grow at a CAGR of 4.2% from 2024 to 2030, reaching nearly USD 301.15 Billion by 2030.
Agrochemicals Market Overview
The term "Agrochemicals market" can encompass a broad range of activity. In general, markets provide a platform for buyers and sellers to connect and exchange goods, services, or information. This exchange can occur virtually, through online marketplaces, or physically, in stores or at fairs. Prices are often determined by a dynamic interplay of supply and demand, with factors like competition and consumer preferences influencing the equation. Understanding market dynamics is crucial for businesses of all sizes, as it allows them to tailor their offerings to meet customer needs and achieve success.
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Report Scope:
The report provides comprehensive insights into the global agrochemicals market, including market trends, dynamics, segmentation, regional insights, and future growth prospects.
Research Methodology:
The research methodology employed for this report involved rigorous data collection, analysis, and validation to ensure accuracy and reliability of the findings. Primary research, including interviews and surveys, coupled with secondary research from credible sources, formed the foundation of this study.
Drivers:
The imperative to enhance agricultural efficiency and protect crops against pests, weeds, and diseases stands as a pivotal driver for the global agrochemicals market. Agrochemical solutions such as herbicides, fungicides, and insecticides emerge as indispensable tools in curbing losses and shielding crops. Climate change exacerbates crop stresses, further imperiling yields, thereby fueling demand for pesticides and other crop protection agents.
Restraints:
Stringent regulatory laws, especially in Europe, present challenges to agrochemical companies. Additionally, the reduction in government farm subsidies, particularly in the United States, may impact farmers' purchasing power and, consequently, the demand for agrochemical products.
Segmentation:
Based on Crop Type, the cereal and grains segment emerged as the dominant force in the market in 2023, commanding a substantial revenue share exceeding 47.0%. Agrochemicals play a crucial role in the development of fruits and vegetables, ensuring their safety, quality, and cost-effectiveness.
by Pesticide Type
Insecticides
Herbicides
Fungicides
Nematicides
Others
by Fertilizer Type
Nitrogenous Fertilizer
Phosphatic Fertilizer
Potassic Fertilizer
by Crop Type
Cereal & Grains
Oilseeds & Pulses
Fruits & Vegetables
Others
Regional Insights:
In 2023, the Asia Pacific region emerged as a dominant force in the agrochemicals market, capturing a substantial revenue share exceeding 27.0%. Major contributors such as India, China, and Japan significantly influence the market dynamics in the region, with China leading in pesticide usage worldwide.
Agrochemicals Market Key Players:
Agrochemicals Key players
1. OCP GROUP (United States)
2. Nutrien Ltd. (United States)
3. FMC Corporation (United States)
4. DuPont de Nemours, Inc. (United States)
5. Marrone Bio Innovations, Inc. (United States)
6. Corteva Agriscience(United States)
7. Bayer AG (Germany)
8. Syngenta Group (Switzerland)
9. BASF SE (Germany)
10. Yara International ASA (Norway)
11. ADAMA Ltd. (Israel)
12. Israel Chemicals Ltd. (Israel)
13. UPL Limited(Mumbai, India)
14. Sumitomo Chemical Co., Ltd. (Japan)
15. Nufarm Limited (Australia)
16. Mitsubishi Chemical Corporation (Japan)
17. ChemChina (Syngenta Group) (Beijing, China)
18. Ihara Chemical Industry Co., Ltd. (Japan)
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Key questions answered in the Agrochemicals Market report include:
What is Agrochemicals?
What factors drive Agrochemicals Market growth?
What are the main challenges for Agrochemicals Market growth?
What was the Agrochemicals market size in 2021?
Which trends are expected to contribute to Agrochemicals market growth?
What recent industry trends can generate additional revenue streams for the Agrochemicals Market?
What growth strategies are players considering to increase their foothold in the Agrochemicals Market?
Who held the largest market share in the Agrochemicals Market?
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
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