Hyderabad, July 26, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Australia Agrochemicals Market Report (2023-2028)," the market is estimated at USD 7.07 billion in 2023. It is expected to register a CAGR of 3.40% during the forecast period.
Agrochemicals refer to those substances or engineered biological formulations which are used to improve the quality of crops. They are also used to protect crops from insects, disease, and pest infestation.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 7.07 billion |
| Market Size (2028) | USD 8.36 billion |
| CAGR (2023-2028) | 3.40% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Rise in demand for agricultural fertilizers and products related to crop protection. |
| Rising use of bio-based crop solutions. |
Who are the Top Companies in the Australia Agrochemicals Market?
The Australian agrochemicals market is highly consolidated in nature. Many major players are present in the market.
Noteworthy players in the Australian agrochemicals market are,
- Bayer Crop Science AG
- Syngenta International AG
- BASF SE
- Corteva Agriscience
- ADAMA Agricultural Solutions
- FMC Corporation
- Nufarm Ltd
- Yara International
- Nutrien Ltd
- ICL Speciality Fertilizers
- Incitec Pivot Fertilizers
Other Reports That Might Be of Your Interest:
- India Agrochemicals Market Report - The Indian agrochemicals market value is estimated at USD 30.28 million in 2023. It is expected to reach USD 36.84 million by 2028, registering a CAGR of 4.00% during the forecast period (2023-2028).
- Agrochemicals Market Report - The global agrochemicals market size is estimated at USD 243.55 billion in 2023. It is expected to reach USD 296.32 billion by 2028, registering a CAGR of 4.00% during the forecast period (2023-2028).
Key Highlights from the Australia Agrochemicals Market Report:
Crop Protection Affected by Pests and Diseases
- Primary producers are at constant risk due to pests, diseases, and weeds impacting agricultural production. Therefore, various measures like using insecticides and chemical treatments are heavily used to prevent the spread of pests.
- The Australian government is primarily investing in R&D to enhance crop production and pest management efficiency. It offered Plant Health Australia a heavy sum to cater to critical drawbacks in national R&D identified in a national workshop.
Growing Use of Pesticides in Grains and Cereal Crops
- The primary insect pest that affects barley crops in Northern Australia is the aphid. The impact of aphids in the north is identified through their feeding activity, which adversely affects barley yields.
- Crops in the region are being injected with a foliar insecticide in late winter or spring to protect from any direct damage to tillers and heads. Many Australian farmers rely on agrochemicals to reduce infections caused by diseases and pests.
What are the Latest Developments in the Australia Agrochemicals Market?
- In November 2022, Elders and Precision Agriculture collaborated to offer precision services to enable farmers and agronomists to decide better about crop nutrients and other inputs.
- In August 2022, Incetic Pivot Fertilizers and Yara Nipro Liquid Fertilizers partnered to provide liquid fertilizers and enhance supply security for Australian farmers across the country’s east coast.
Mordor Intelligence has Segmented the Australia Agrochemicals Market Based on Product Type and Application:
- By Product Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Fertilizers
- Pesticides
- Adjuvants
- Plant Growth Regulators
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Grains and Cereals
- Pulses and Oilseeds
- Fruits and Vegetables
- Commercial Crops
- Other Applications
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Australia Agrochemicals Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Indonesia Agrochemicals Market Report - The Indonesian agrochemicals market is expected to register a CAGR of 4.09% during the forecast period (2023-2028).
- Pakistan Agrochemicals Market Report - The Pakistani agrochemicals market size is estimated at USD 0.32 billion in 2023. It is expected to reach USD 0.47 billion by 2028, registering a CAGR of 7.99% during the forecast period (2023-2028).
- South Africa Agrochemicals Market Report - The South African agrochemicals market size is estimated at USD 1.21 billion in 2023. It is expected to reach USD 1.47 billion by 2028, with a CAGR of 3.90% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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