Dublin, Jan. 07, 2025 (GLOBE NEWSWIRE) -- The "Agrochemicals Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
Overall world revenue for Agrochemicals Market will surpass US$245.4 billion in 2024
This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Growing Global Population and Food Demand Driving the Demand for Agrochemicals
The ever-increasing global population is one of the most significant drivers for the agrochemicals market. By 2050, the world's population is projected to reach 9.7 billion, substantially increasing the demand for food. To meet this demand, agricultural productivity must rise significantly, necessitating the use of agrochemicals such as fertilisers and pesticides.
For instance, in countries like India and China, where the population is vast and still growing, the reliance on agrochemicals is crucial to achieving food security. This increased demand for food pushes farmers to adopt modern agricultural practices that often involve the extensive use of agrochemicals to enhance crop yields and protect against pests and diseases.
Stringent Regulations and Environmental Concerns Regarding Synthetic Agrochemicals
The European Union (EU) has proposed stringent new regulations aimed at reducing the use and risk of pesticides, marking a significant step towards achieving the objectives outlined in the Farm to Fork Strategy. These rules are designed to foster a fair, healthy, and environmentally respectful food system. Central to the proposal are legally binding EU-level targets to cut the use and risk of chemical pesticides by 50% by 2030, alongside reducing the use of more hazardous pesticides. Member States are mandated to establish their own reduction targets within specified parameters and develop strategies to collectively achieve the EU-wide goals.
In enforcing environmentally friendly pest control practices, the EU introduces a robust framework mandating Integrated Pest Management (IPM). This approach requires that farmers prioritize alternative pest control methods before resorting to chemical pesticides as a last resort. Additionally, the regulations include a blanket ban on pesticide use in sensitive areas such as public parks, gardens, playgrounds, and ecologically fragile zones, with a buffer zone of 3 meters around these areas. To support farmers during this transition, the EU's Common Agricultural Policy (CAP) will cover the costs of compliance with these new requirements for a period of 5 years.
Key Questions Answered
- How is the agrochemicals market evolving?
- What is driving and restraining the agrochemicals market?
- How will each agrochemicals submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
- How will the market shares for each agrochemicals submarket develop from 2024 to 2034?
- What will be the main driver for the overall market from 2024 to 2034?
- Will leading agrochemicals markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
- Who are the leading players and what are their prospects over the forecast period?
- What are the agrochemicals projects for these leading companies?
- How will the industry evolve during the period between 2024 and 2034? What are the implications of agrochemicals projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the agrochemicals market?
- Where is the agrochemicals market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising agrochemicals prices and recent developments.
Agrochemicals Market Dynamics
Market Driving Factors
- Changes in Climate Patterns Increase the Incidence of Pests and Diseases, Driving the Need for Effective Agrochemicals
- Increasing Global Population and the Consequent Need for Higher Agricultural Productivity
- Integration with Smart Farming Driving the Agrochemicals Market
Market Restraining Factors
- Stringent Regulations and Environmental Concerns Regarding Synthetic Agrochemicals
- Concerns Over the Potential Health Risks Associated with Synthetic Agrochemicals can Prevent their Use
Market Opportunities
- Government Initiatives and Subsidies for Agriculture Opportunities for the Market
- Investment and Expansion of Market in New Geographical Region Opportunities for the Market
- Diversifying Product Offerings to Include a Wider Range of Agrochemicals and Related Products can Capture a Larger Market Share
Supply Chain Analysis
Regulatory Framework
Emerging Markets and Megatrends
Porter's Five Forces Analysis
PEST Analysis
Leading companies profiled in the report
- Adama Ltd
- BASF SE
- Bayer AG
- Compass Minerals International, Inc.
- Corteva, Inc.
- EuroChem Group AG
- Isagro SpA
- K+S AG,
- Nufarm Limited
- Nutrien Ltd.
- Sociedad Quimica y Minera de Chile S.A. (SQM)
- Sumitomo Chemical Co., Ltd.
- Syngenta Group
- UPL Limited.
Segments Covered in the Report
Formulation
- Liquid
- Granular/ Powder
Pesticide Type
- Herbicides
- Insecticides
- Fungicides
Fertilizer Type
- Nitrogenous
- Phosphatic
- Potassic
- Other Fertilizer Types
Product Type
- Pesticides
- Fertilizers
- Plant Growth Regulators
- Soil Conditioners
- Other Product Type
Crop Type
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
- Turf and Ornamentals
- Cotton and Sugarcane
- Other Crop Type
North America
- U.S.
- Canada
Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East
- Saudi Arabia
- Israel
- Turkey
- Rest of Middle East
Africa
- Egypt
- South Africa
- Nigeria
- Rest of Africa
For more information about this report visit https://www.researchandmarkets.com/r/zhp46f
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
