The size of the agrochemicals market was estimated at USD 218 billion in 2021 and is expected to reach USD 286.93 billion by 2030, with a CAGR of 3.1% from 2022 to 2030.

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Agrochemicals, also known as agrochemicals, are chemical products used in agriculture to protect crops from deterioration caused by insects, pest infestations and diseases. It includes synthetic fertilizers, chemical growers, and concentrated deposits of raw animal manure that are either synthetically or biologically produced.

New York, Sept. 08, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report, “Agrochemicals Market by Product Type and by Crop Type – Global Opportunity Analysis and Industry Forecast 2022-2030” – https://www .reportlinker.com/p06318551/?utm_source=GNW
Agrochemicals are often water-insoluble and are sprayed with solvents to increase product performance and bio-efficacy. The latest agrochemical methods include advanced molecular biology and the development of herbicide-tolerant crops such as glyphosate and glufosinate.

Market dynamics and trends

The demand for agrochemicals is high in several countries such as China, India and the USA, among others, due to the growing global population and the resulting increase in food demand. The emergence of harmful organisms such as fungi, bacteria and viruses that degrade soil quality leads to the use of agrochemicals to protect crops. Also, the global increase in import and export of agricultural fertilizers is expected to boost the market growth of agrochemicals during the forecast period. For example, in March 2022, Corteva Agriscience announced that its growers would regain access to Enlist One and Enlist Duo herbicides for the 2022 growing season. This will help growers to lift geographic restrictions on two listed species, the Eastern Massasauga Rattlesnake and the American Gravedigger.
However, violations of intellectual property rights and contamination of air, water and soil due to excessive use of synthetic agrochemicals are the factors which are expected to restrain the growth of the market over the forecast period. Also, increasing market demand for organic food and increasing use of organic fertilizers further hamper the market growth. On the contrary, the introduction of synthetic pesticides to speed up the planting and cultivating process and the incorporation of organic fertilizers to increase yields are factors that are expected to bring lucrative opportunities to market players in the future.

Market Segmentations and Scope of Study:

The global agrochemicals market is segmented by product type, crop type, and geography. Based on product type, the market is segmented into Fertilizers, Pesticides, Adjuvants and Plant Growth Regulators. The fertilizer segment is divided into artificial fertilizers and organic fertilizers. The synthetic fertilizers segment is further divided into nitrogenous, phosphate-containing, potassium-containing and others. The Pesticides segment is divided into Insecticides, Herbicides and Fungicides. The insecticides segment is further divided into synthetic insecticides and bio-insecticides. The herbicides are further divided into synthetic herbicides and bioherbicides. The fungicides are further divided into synthetic fungicides and bio-fungicides. On the basis of crop type, the market is segmented into Cereals & Grains, Oilseeds & Legumes, Fruits & Vegetables, and Others. The geographic breakdown and analysis of each of the above classifications includes regions such as North America, Europe, Asia Pacific and RoW.

Geographic Analysis

Asia Pacific holds the largest share of the global agrochemicals market and is expected to continue its dominance during the forecast period. This is attributed to factors such as rapid population growth leading to increasing demand for large-scale production of fruits, vegetables and grains such as wheat and rice. Furthermore, factors such as increasing R&D activities coupled with farmers’ awareness of the proper use of agrochemicals are driving the growth of the market in this region.
On the other hand, North America has seen significant growth in the agrochemicals market due to significant technological advances in the form of biotechnology and biopesticides, followed by growing demand for agricultural commodities, leading to large-scale utilization of agrochemicals for high yields and crop losses. The decline in arable land per person in this region has led to a significant increase in the use of pesticides, which in turn should fuel market growth in the years to come.
competitive landscape
Market players in the global agrochemicals market include BASF SE, Bayer AG, Corteva Agriscience, Yara International ASA, Syngenta, Gharda Chemicals Ltd., ICL Group Ltd., Adama Agricultural Solutions and Mosaic. These market players employ various strategies such as new product launches and partnerships to maintain their dominance in the global agrochemicals market. For example, in March 2021, Corteva Agriscience announced the launch of two new global brands of naturally derived spinosyn insecticides, namely Qalcova active and Jemvelva active, demonstrating the results of Corteva Agriscience’s exceptional research, development and testing capabilities. Also, in January 2022, Adama launched two new herbicides, Diverge Silk and Diverge EC, for reliable weed control. They provide effective control against the growth of grasses and broadleaf weeds in rice. In 2021, BASF Canada Agricultural Solutions received approval for the Health Canada Pest Management Regulatory Agency (PMRA) label extension for its fungicide Serifel. It is now approved for a range of fruits, leafy roots, cucurbits and berries. In addition, in March 2020, Bayer AG announced its strategic partnership with Agribazaar, an agritech company in India. The aim of this partnership was to increase Bayer AG’s reach for small farmers and offer personalized solutions that enable them to achieve more sustainable harvests.

IMPORTANT MARKET SEGMENTS

• Agrochemicals market – by product type
o Fertilizers
synthetic fertilizers
nitrogenous
phosphate
potassium
Other
organic fertilizer
o Pesticides
insecticides
Synthetic Insecticides
Organic Insecticides
herbicides
Synthetic Herbicides
Organic Herbicides
fungicides
Synthetic Fungicides
Organic Fungicides
o Adjuvants
o Plant growth regulators
• Market for agrochemicals – by crop type
o Cereals & Grains
o Oilseeds & Legumes
o Fruits & Vegetables
o others
• Agrochemicals market – by geography
o North America
US
Canada
Mexico
Oh Europe
United Kingdom
Germany
France
Italy
Spain
rest of Europe
o Asia Pacific
China
India
Japan
South Korea
Australia
Rest of Asia Pacific
o RoW
UAE
Saudi Arabia
South Africa
Brazil
Remaining countries
Read the full report: https://www.reportlinker.com/p06318551/?utm_source=GNW

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