Global Agrochemicals Market - Latest Trends and Forecast Analysis up to 2021

Posted by rohan on October 11th, 2017

The Global Agrochemicals Market was worth 4.10 billion in 2016 and estimated to be growing at a CAGR of 3.40%, to reach 6.69 billion by 2021. With shortage of land and water, there has been an increased emphasis on the acceptance of innovative technologies that can help increase crop harvest. As such, agrochemicals are observing a substantial demand since farmers are determined to attain nutritious and high quality crop production.

Agrochemicals consist of specialty chemical products such as synthetic fertilizers, pesticides, Plant growth regulators, and adjuvants, which are employed in the agriculture industry. Agrochemicals’ task is to safeguard crops, increase crop yields, and sustain the food and soil quality. Another important function of agrochemicals is to transform the growth progression of the plants. 

The growth of the Global Agrochemicals market is majorly driven by factors such as growing awareness towards the use of fertilizers and pesticides in key crop producing countries, wide range of pest control applications of Agrochemicals, and decreasing arable land. Another major factor driving the market is the globally increasing population, which leads to the need for increase in crop yield. However, safer alternatives such as bio-farming and organic pesticides, volatile economies, and various environmental and health hazards linked with agrochemicals are the major restraining factors for the market.

The Global Agrochemicals market is segmented based on Type and Application. The market for Agrochemicals, on the basis of Type, is classified into Fertilizers, Pesticides, Plant Growth Regulators, and Adjuvants. Fertilizers are further segmented into Nitrogenous, Phosphate and Potassic Based Fertilizers, whereas Pesticides are further segmented into organophosphates, pyrethroids, bio pesticides. Plant Growth Regulators are further classified into Auxins and Cytokinins, whereas Adjuvants are further classified into Activator Adjuvants and Utility Adjuvants. Nitrogenous fertilizers lead the global agrochemicals market on the basis of type.  However, the demand for pesticides is increasing at a high rate, given the growing frequency of numerous pests and diseases. Currently, the Pesticides market is being spearheaded by herbicides products, trailed by fungicides and insecticides. On the basis of Application, the global Agrochemicals market is segmented into Crop Based and Non Crop Based. Crop Based segment is further sub-segmented into Oil seeds, Fruits & Vegetables, Grains & Cereals, whereas Non Crop Based segment is further sub-segmented into Turf & Ornamental Grass and others. By application, grains & cereals lead the global market for Agrochemicals and this trend is anticipated to remain during the forecast period.

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The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. Asia Pacific has been leading the global agrochemicals market and this trend is projected to stay in the near future. North America is the second major consumer of agrochemicals, followed by Europe. Demand for agrochemicals in North America and Europe is expected to grow at a slow rate mainly due to market maturity and regulatory restrictions. Growing demand for agrochemicals in South America is anticipated to offer huge growth prospect for the market.

The global market for agrochemicals is extremely consolidated and streamlined owing to the domination of the market by a handful of companies. Some of the major companies dominating this market are Bayer Crop science. Dow-DuPont, Syngenta AG, BASF SE, Agrium Inc., Monsanto Company, Israel Chemicals Ltd., Yara International ASA, Mosaic Company and Sociedad Química Y Minera S.A.

Market Segmentation                                          

1) By Type                     

•          Fertilizers
•          Nitrogenous
•          Phosphate
•          Potassic Based Fertilizers
•          Pesticides
•          Organophosphates
•          Prethroids
•          Biopesticides
•          Others
•          Plant Growth Regulators  
•          Auxins
•          Cytokinins
•          Others
•          Adjuvants
•          Activator Adjuvants
•          Utility Adjuvants

2) By Application                        

•          Crop Based           
•          Oil seeds
•          Fruits & Vegetables
•          Grains & Cereals
•          Non Crop Based   
•          Turf & Ornamental Grass
•          Others

Reasons to buy Global Agrochemicals Market Research Report:

• Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
• Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
• Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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