The Global Agrochemicals Market report includes a global opportunity analysis and industry forecasts for the period 2023-2032. The global market was estimated at USD 298.12 Billion in 2022, registering a CAGR of 4.10% from 2023 to 2032. The base year considered for the study is 2021, and the forecast has been provided for the period 2023 to 2032.
The growing population is the key factor contributing to the agrochemical market growth. According to the Food and Agriculture Organization (FAO), the world population is expected to grow by over 2.3 billion by 2050. They also estimated that the population is expected to grow more rapidly in developing countries than developed countries. Hence, to meet the global demand for food, the use of agrochemicals is likely to increase, as they are beneficial for crop growth. However, pesticide regulations vary from country to country. The amount of pesticide residue allowed in one country may not be the same as other countries, which can affect international trade and pose a challenge to the agrochemicals market.
Digital farming includes technological development like the integration of artificial intelligence (AI), machine learning (ML), and drones, which are expected to boost market growth. Moreover, advancements in research and development activities are projected to drive the market. For instance, in February 2021, Syngenta collaborated with Insilico Medicine, an artificial intelligence company, to find and synthesize new molecules for chemicals and crop protection solutions.
To control common diseases in plants like bacteria, fungi, nematodes, and others, bactericides, fungicides, and nematicides are used respectively. Pests and insects like locusts are the leading cause of destroying plants and crops. These factors are expected to increase the demand for agrochemicals. According to the Food and Agriculture Organization (FAO), 20-40% of global crop production is ruined by pests. Other insects like caterpillars, beetles, stem borers, and others are also the reason for damaging crops. However, chemicals can have adverse effects on soil, water, air, and human health, which can hamper market growth.
FIGURE 1: GLOBAL AGROCHEMICALS MARKET
Segmentation
The global agrochemicals market has been segmented by type, crop type, application, and region.
FIGURE 2: GLOBAL AGROCHEMICALS MARKET SEGMENTATION
Global Agrochemicals Market, by Type
Based on type, the market is segmented into pesticides, fertilizers, soil conditioners, and plant growth regulators. The pesticide segment is expected to dominate the market during the forecast period. Various pesticides available in the market are insecticides, herbicides, fungicides, algaecides, rodenticides, molluscicides, and nematicides. Insecticides, herbicides, and fungicides can be synthetic or bio-based.
The fertilizers are further classified into synthetic fertilizers, phosphatic, potassic, and biofertilizers. Fertilizers are also expected to promote market growth, as they assist the plants or soil with proper nutrients. Nitrogen-based fertilizers are popular and can be natural or industrially produced. The rising adoption of organic methods for adding nitrogen into the soil is expected to contribute to the growth of nitrogen fertilizers, which include adding composite manure, green manure, coffee ground in soil, and others.
Manure, peat, leaves, livestock manure, and compost are common types of soil conditioners to keep the soil in good condition by enhancing aeration and water holding capacity. These factors are expected to augment market growth. Chemical products like cytokinin, ethylene, abscisic acid, and others are common plant growth regulators that influence plant growth and contribute significantly to the agrochemicals market.
Global Agrochemicals Market, by Crop Type
Based on crop type, the market is segmented into vegetables and fruits, oilseeds and pulses, cereals and grains, and others. The cereals and grains segment is expected to account for the largest market share during the forecast period. Most common cereals produced in the world are wheat, rice, barley, maize, oats, sorghum, and rye.
In the U.S., wheat, corn, cotton, and soybeans receive about 60% of nitrogen, potash and phosphate, according to the United States Environmental Protection Agency (EPA). In Asian countries, rice is a staple crop, and increasing rice consumption is expected to contribute to market growth. Moreover, rising population contributes to increasing consumption of crops like rice, wheat, corn, maize, cotton, vegetables, and others, and hence, will augment market growth during the forecast period.
Global Agrochemicals Market, by Application
Based on application, the market is segmented into spraying and seed treatment. The spraying segment is expected to grow at a faster rate during the predicted period. The sprayers are one of the oldest and simplest tools to spray chemicals to cure crop diseases. They allow the even spray of chemicals in land, which is expected to augment market growth.
Different types of sprayers available in the market are hydraulic sprayers, knapsack sprayers, mistblowers, air-carrier sprayers, and others. Technological developments like drones are expected to boost the growth of the sprayers segment. Various parts of the world are adopting drones for precision spraying. For instance, in north-eastern Japan, Yoshinoya Farm has tested drones to precisely deliver pesticides to crops, helping farmers dealing with problems and generating more sales.
Various seed treatment methods include seed coating with chemical or film coating, pelleting, and seed priming. The advantages offered by seed treatment include prevention from plant diseases, control of soil insects, improved germination, and protection from seedling blights and rots. These factors are expected to enhance market growth. Moreover, the disinfection of seeds before sowing improves quality, yield, and characteristics, which can support the agrochemicals market growth further.
Global Agrochemicals Market, by Region
Based on region, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. The Asia Pacific region is expected to dominate the market during the analysis period. The presence of the fastest-growing countries like China, Japan, and India will have a positive influence on the market. The rising population in developing countries in the Asia Pacific region is estimated to positively impact the demand for agriculture materials and contribute to agrochemicals market growth. Moreover, major key players in this region are expected to contribute to market growth during the forecast period.
North America is also expected to grow significantly during the forecast period. According to the Food and Agriculture Organization (FAO), the U.S. used about 407,779 tonnes of pesticides from 2015–2018, followed by Canada - 86,958.75 tonnes of pesticides. China utilized 1,763,000 tonnes of pesticides for agriculture use from 2015–2018.
Recent Developments in the Global Agrochemicals Market
- In April 2021, Aimco Pesticides, an integrated agrochemical company in India has announced about the execution of a 3-year contract for one of its existing products and expects to generate a revenue of USD 0.03-0.033 billion.
- In July 2020, global consumer service company, Rollins Inc. announced the acquisition of Adams Agrochemicals Pty Ltd by one of its subsidiaries in Australia. Adams Agrochemicals joined the portfolio of brands including Scientific Pest Management, Statewide Agrochemicals, Murray Agrochemicals, and Allpest.
- In January 2018, Aarti Industries Ltd announced its multi-year contract with a global agriculture company worth USD 0.62 billion. The company also stated that it will supply agro-chemical intermediary used in herbicide for over 10 years.
FIGURE 3: GLOBAL AGROCHEMICALS MARKET (USD BILLION), 2021–2030
What does this Report Provide?
A detailed understanding of the global agrochemicals market demand from a qualitative and quantitative perspective. The report provides the dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the global market for agrochemicals.
The major market drivers, challenges, and opportunities for the global agrochemicals market have also been covered in the report. This report further includes the market share of the leading companies operating in the market, along with their production capacities and the growth strategies adopted by them.
Market Segmentation:
By Type:
- Pesticides
- Insecticides
- Synthetic Insecticides
- Organophosphates
- Pyrethroids
- Methyl Carbamates
- Neonicotinoids
- Others
- Bio-Insecticides
- Synthetic Insecticides
- Herbicides
- Synthetic Herbicides
- Glyphosate
- Atrazine
- Acetochlor
- 2,4-D
- Paraquat
- Others
- Bio-Herbicides
- Synthetic Herbicides
- Fungicides
- Synthetic Fungicides
- Dithiocarbamates
- Benzimidazoles
- Chloronitriles
- Triazoles
- Phenylamides
- Strobilurins
- Others
- Bio-Fungicides
- Synthetic Fungicides
- Algaecides
- Rodenticides
- Molluscicides
- Nematicides
- Insecticides
- Fertilizers
- Synthetic Fertilizers
- Nitrogenous
- Ammonia
- Urea
- Calcium Ammonium Nitrate
- Others
- Phosphatic
- Di-Ammonium Phosphate (DAP)
- Mono-Ammonium Phosphate (MAP)
- Triple Superphosphate (TSP)
- Others
- Potassic
- Potassium Chloride
- Potassium Magnesium Sulfate
- Potassium Sulfate
- Others
- Biofertilizers
- Synthetic Fertilizers
- Soil Conditioners
- Plant Growth Regulators
By Crop Type:
- Vegetables and Fruits
- Oilseeds and Pulses
- Cereals and Grains
- Others
By Application:
- Spraying
- Seed Treatment
By Region:
North America Agrochemicals Market
- North America, by Country
-
- The U.S.
- Canada
- Mexico
- North America by Type
- North America by Crop Type
- North America by Application
Europe Agrochemicals Market
- Europe, by Country
-
- Germany
- The U.K.
- France
- Italy
- Spain
- Russia
- The Rest of Europe
- Europe by Type
- Europe by Crop Type
- Europe by Application
Asia Pacific Agrochemicals Market
- Asia Pacific, by Country
-
- China
- India
- Japan
- South Korea
- Australia
- The Rest of Asia Pacific
- Asia Pacific by Type
- Asia Pacific by Crop Type
- Asia Pacific by Application
Middle East and Africa Agrochemicals Market
- Middle East and Africa, by Country
-
- The UAE
- Saudi Arabia
- Qatar
- South Africa
- The Rest of Middle East and Africa
- Middle East and Africa by Type
- Middle East And Africa by Crop Type
- Middle East And Africa by Application
South America Agrochemicals Market
- South America, by Country
-
- Brazil
- Argentina
- The Rest of South America
- South America by Type
- South America by Crop Type
- South America by Application
Major Companies: In this report, the major companies studied are: Bayer Crop Science, Syngenta, BASF, Corteva, FMC, UPL Ltd, ADAMA, Sumitomo Chemical, NuFarm, Huapont Life Sciences, Jiangsu Yangnong, Nissan Chemical, Dow AgroScience LLC, Rainbow Chemical, Nanjing Red Sun, Wynca Chemical, Lier Chemical, and Nutrichem Company Ltd.
Objectives of this Report:
- Market size estimation of the agrochemicals market on a regional and global basis
- Unique research usage for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
Customization:
This study is customized to meet your specific requirements:
- By sub-segment
- By client-specific country, type, and application market analysis
- Pricing analysis along with the potential list of customers
- Product-specific competitive analysis
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