Jersey City, New Jersey, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Agrochemicals Market” By Fertilizer Type (Nitrogen fertilizer, Phosphatic Fertilizer, Potassic Fertilizer), By Pesticide Type (Fungicides, Herbicides, Insecticides), By Crop Type (Cereals and Grains, Oilseeds and Pulses), and By Geography.
Agrochemicals Market size was valued at USD 240.3 Billion in 2021 and is projected to reach USD 309.7 Billion by 2030, growing at a CAGR of 3.6% from 2022 to 2030, according to the most recent study from Verified Market Research.
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Browse in-depth TOC on “Agrochemicals Market”
202 - Pages
126 – Tables
37 – Figures
Report Scope
Global Agrochemicals Market Overview
Increasing demand for pesticides and excessive intake of agrochemicals in liquid form are two important factors expected to drive agrochemical demand in the global market. Global food consumption increased due to population growth, which has enhanced the demand for agricultural products. This has contributed to an increase in the use of agricultural chemicals to enhance crop production and advancements in the agriculture sector. As an outcome, the use of agrochemicals including fertilizers and pesticides has become essential to meet the demands for food. This is also boosting global demand for new agricultural advancements. Agrochemicals play an important role in raising crop yield and quality.
Rapid urbanization and industrialization have led to the reduction in cultivable land due to a rise in the number of industries, houses, highways, as well as other infrastructure investment structures. Furthermore, increasing population demand for more food, rising technological progress in the agricultural industry, lack of availability of arable land, increasing environmental concerns, and progress in plant breeding and management capability all over the world are influencing market growth, leading to increased use of agrochemicals. Economic growth raises people’s standard of living as well as their purchasing power. Increased income causes a shift in the population’s eating habits. Due to people’s modifying eating habits, the Agrochemicals Market has grown faster than the population increase.
Key Developments
- In October 2020, Syngenta Group announced its acquisition of Valagro, a leading Biological company, by its Syngenta Crop Protection business unit. Syngenta Crop Protection is one of the key global companies poised to shape the rapidly expanding biologicals market, which is anticipated to nearly double in size over the next five years.
- In April 2020, Sumitomo Chemical has completed its acquisition of four Nufarm South American subsidiaries. Sumitomo Chemical is able to expand its crop protection product development and sales network in South America, including Brazil, the world’s largest crop protection market, as a consequence of this acquisition.
- Timeline FX, an advanced cross-spectrum spring foliar herbicide for cereals, was introduced by Adama in February 2022. The herbicide is designed with three active ingredients that have complementary modes of action, as well as a built-in adjuvant, to provide growers with a range of various applications.
Key Players
The “Global Agrochemicals Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are
- Clariant
- BASF
- Huntsman International
- Bayer
- Dow
- Solvay
- Nufarm
- Evonik Industries
- Croda International
- Helena Agri-Enterprises
- Ashland
- Land O’Lakes
Based on the research, Verified Market Research has segmented the global Agrochemicals Market into Fertilizer Type, Pesticide Type, Crop Type, and Geography.
- Agrochemicals Market, by Fertilizer Type
- Nitrogen Fertilizer
- Phosphatic Fertilizer
- Potassic Fertilizer
- Agrochemicals Market, by Pesticide Type
- Fungicides
- Herbicides
- Insecticides
- Others
- Agrochemicals Market, by Crop type
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
- Others
- Agrochemicals Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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