Agrochemicals Market Growth | Prediction, Industry Trends, Upcoming Trends

Posted by Moin Patni on October 8th, 2018

Agrochemicals Market

Agrochemicals Market Overview: Agrochemicals used in fertilizers, plant growth regulators and crop protection chemicals are dominating in the market. This is attributed to increasing pest attacks on crops which results in loss of nutritional and quality of food crop. Fertilizer accounts for majority of share in global agrochemical market due to ongoing projects of increasing animal husbandry sector further generating demand for animal feed. Moreover, rising demand for micro-nutrient in crop plants has boosted the fertilizer demand in the global agrochemical market.

Agrochemicals Market has witnessed an impressive growth over the last few years. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on ‘Global Agrochemicals Market Research Report- Forecast to 2023’ that the market will demonstrate an exceptional CAGR % while achieving good growth rapidly in the forecast period.

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Agrochemicals Market Insight: Agrochemicals refer to inorganic fertilizers and pesticides. Each fertilizer and pesticide that improves the production of crop is considered as an agrochemical. The function of agrochemicals is to manage an agricultural ecosystem. Agrochemicals as the name suggests has widespread use in the agriculture industry. Most of the applications of the agrochemicals revolve around agriculture.

Agrochemicals Market offers lucrative opportunity for the major manufacturers of agrochemical products. However, the global agrochemical market is fragmented owing to the presence of small & regional players in the developing & under developing economies. The major players are acquiring small & regional players to enhance the volume sales. Also, the manufacturers are collaborating with distributors to increase the customer base. Manufacturers are investing millions of dollars for new product development. Strategic product development is one of the recent trends which is gaining traction in the global agrochemicals market during the forecast period. Manufacturers are launching new products with added value of the competitors’ products. Government certification also considered to be the significant factors for the rising growth of global agrochemicals market during the forecast period.

Agrochemicals Market Research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis. Global population is currently at more than 7 billion and still increasing.

Plant growth regulators are projected to grow at highest CAGR followed by crop protection chemicals. This plant growth regulator helps the crop to reduce harvesting time and enhance the growth of crops plants. Additionally, nitrogenous fertilizers are expected to grow significantly as its aid plant growth and most abundantly applied fertilizer found across the globe. These products improve the quality of soil and helps in nourishing nutritional value of food.

Agrochemicals belongs to group of speciality chemical which includes fertilizer, herbicides, fungicides, hormones and other growth agents in chemical synthesis. The basic function of agrochemicals is to protect the crop and improve quality of soil and crop. Agrochemicals also used acts as growth agent in plants. The growing need for processed food and advanced packaging technique has improved the food & beverage sector, thereby, increasing the demand for food grain, oilseeds and vegetables. This in turn drives the agrochemical market growth.

Agrochemicals Market Key Players: Agrochemicals Market are: The Mosaic Company (the U.S.), Bayer CropScience Limited (Germany), The Dow Chemical Company (the U.S.), BASF SE (Germany), Monsanto Company (the U.S.), Syngenta AG (Switzerland), Adama Agricultural Solutions Ltd (Israel), Nufarm Limited (Australia), Arysta LifeScience Corporation (Japan) and Crystal Crop Protection Pvt. Ltd. (India) among others.

Agrochemicals Market Regional Analysis: Agrochemicals Market is segmented into North America, Europe, APAC, and Rest of the World (Row). Global Agrochemicals market is highly dominated by Asia-Pacific followed by North America and Europe. Asia-Pacific market is the largest market for Agrochemicals due to its major use in agricultural application. India and China are the largest country-level agrochemicals markets in the Asia-Pacific region in 2016. Increasing food demand in these highly populous countries resulted in huge demand for agrochemicals to increase the crop yield, leading to the overall increase in the agrochemicals market in these countries. Latin America is expected to be the forerunner in terms of CAGR in demand for agrochemicals.

Agrochemicals Market Competitive Analysis: Agrochemical Market is high fragmented market with tier 1 and tier 2 players. The market participants are acquiring small players in the market and collaborating with distributors to meet the global demand. Acquisition is the key strategies adopted by significant players to maintain their market share. Increasing R&D activities to develop efficient and easy cultivation of agriculture products is major focus by key players in market. For instance, BASF had invested USD 2 billion in R&D activities in 2017a. Companies are relocating business owing to easy availability of resources, favourable climatic condition and balance import-export policies.

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