According to a new report published by Allied Market Research titled, “Agrochemicals Market by Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global agrochemicals market size was valued at $231.0 billion in 2020 and is anticipated to generate $315.3 billion by 2030. The market is projected to experience growth at a CAGR of 2.9% from 2021 to 2030.
Agrochemicals are the chemicals used in the management of agricultural ecosystems and micro-organisms in the farming area. The use of agrochemicals is critical in increasing the crop yield. Agrochemicals include various fertilizers, herbicides, insecticides, fungicides, soil conditioners, and others. Fertilizers are used in the agricultural lands to increase the growth of plants and crop yield. The term agrochemicals may also include synthetic fertilizers, hormones, and other chemical growth agents, as well as concentrated stores of raw animal manure.
The agrochemicals market is segmented into type and region. By type, it is categorized into fertilizers and pesticides. By fertilizers, the market is bifurcated into synthetic and biofertilizers. By pesticides, the market is categorized into insecticides, herbicides, fungicides, and other pesticides. By region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
Key players operating and profiled in the global agrochemicals market include Agrium Inc., Bayer AG, BASF SE, DOW Agrosciences LLC, DUPONT., Monsanto Company, Sumitomo Chemical Co., Syngenta AG, The Mosaic Co., and Yara International ASA.
Other players operating in the value chain of the global agrochemicals market are Makhteshim Agan Industries Ltd., CF Industries Holdings Inc., Jordan Abyad Fertilizers & Chemicals Company, K+S AG, Uralkali, ADAMA Agricultural Solutions Ltd., Nufarm Ltd., IFFCO, SQM, American Vanguard Corporation, Haifa Group, Zuari Agro Chemicals Ltd., Gharda Chemicals Limited, Valent USA Corp., United Phosphorus, Ltd., Rotam Cropsciences, Inc., Qatar Fertiliser Co., Ltd., Koch Minerals Co., LLC, Arysta Lifescience Corp., Drexel Chemical Co., and CF Industries, Inc.
The report includes the study of the agrochemicals market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s Five Forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
Key findings of the study
- The global agrochemicals market size is provided in terms of revenue
- The Asia-Pacific agrochemicals market is predicted to hold a share of over 54.9% by 2030
- The agrochemicals fertilizers segment is expected to hold a dominant share of the market in terms of revenue, during the projected period
- The fertilizer segment is projected to hold a share of over 66.3% by 2030
- A comprehensive analysis of the factors that drive and restrain the agrochemicals market growth is provided
- The qualitative data in this report aims at the market trends, dynamics, and developments in the agrochemicals industry
- The agrochemicals market forecast and estimations are based on factors impacting the market growth