Global Agrochemicals Market by Product Types (Fertilizers [Nitrogenous, Potassic, Phosphatic], Pesticides[Organophosphates, Pyrethroids, Neonicotinoids, Bio-Pesticides], and others), Crop Types (Cereals & Grains, Oilseed & Pulses, Fruits & Veg

The global agrochemicals market is projected to expand at a substantial CAGR during the forecast period. This growth is attributed to the rising demand for crop protection chemicals due to frequent outbreaks of pest attacks on crops and increasing awareness among the farmers. Agrochemicals or agricultural chemicals are chemical products used in agriculture to supplement plant growth. The major chemicals used in agriculture to regulate plant growth are synthetic fertilizers, pesticides, and hormones, and many more. Agrochemicals offer various benefits while cultivating crops such as high yield, enhanced yield quality, reduced crop loss, crop protection from insects and pests, and others, owing to which there is increase in demand for agrochemicals to cater the surging global demand for agricultural produce. Increasing cultivable land area for horticultural crops such as fruits & vegetables, and floricultural plants another factor boosting the sales of various agricultural chemicals. Government is also playing an important role in driving the growth of this market by providing subsidies and rebates to agriculturists.

Market Trends, Drivers, Restraints, and Opportunities:

• High investment in agrochemical research regarding the use of use of artificial pesticides have accelerate the use of agrochemicals and thus fueling the growth of the market.
• Increasing awareness among the farmers in the developing nations and advent of new technological farming practices have boosted the growth of the market.
• Rising demand for food grains and declining cultivable land due to industrialization and urbanization are driving the growth of the market.
• High demand for organic pesticides and bio-farming, is a key restraint of the market.
• Few products such as pesticides have an adverse effect on the environment and thus hampers market growth.
• The government has played a defining role in driving demand of global agrochemicals market. Favorable government initiatives and subsidies are going to foster the growth of the market during the forecast period.

Scope of the Report

The report on the global agrochemicals market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report. AttributesDetailsBase Year2019Historic Data2018–2019Forecast Period2020–2026Regional ScopeAsia Pacific, Europe, North America, the Middle East & Africa, and Latin AmericaReport CoverageCompany Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Global Agrochemicals Market Segment Insights:

Based on product types, the global agrochemicals market is divided into fertilizers, pesticides, herbicides, insecticides, and others. The fertilizers are further classified into nitrogenous, potassic, phosphatic. Pesticides are sub-segmented into organophosphates, pyrethroids, neonicotinoids, and bio-pesticides. Nitrogenous fertilizers under the segment of fertilizers are anticipated account a large market share. This is attributed to rising usage of nitrogen which is a mandatory nutrient for growth and development of crops. Herbicides, a type of pesticide are also expected to witness lucrative growth. In terms of crop types, the market is fragmented into cereals & grains, oilseed & pulses, fruits & vegetables, and others. The agrochemicals market is led by the cereals & grains segment, followed by the fruits & vegetables and oilseeds & pulses segments. The fruits & vegetables segment is the fastest growing crop type in the agrochemicals market. The adoption of agrochemicals, mainly pesticides, is rising on a large scale for production and cultivation of cereals, grains, fruits, and vegetables which is leading to the market growth for agrochemicals for the mentioned crop types. Based on applications, the market is classified into crop-based and non-crop-based applications. Crop-based accounts for the maximum share in agrochemicals market. Some of the crop-based applications include oil seeds, grains and cereals and fruits and vegetables. Applications such as grasses, turfs and applications which consume agrochemicals but are not fit for human consumption are non-crop based. On the basis of regions, the global agrochemicals market is segmented into Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. The market of Asia Pacific accounted for the largest market share for agrochemicals, followed by North America and Europe. Growth of the Asia Pacific market is attributed to a large number of farmlands and their excellent soil fertility. Factors such as urbanization, surging disposable income, trade liberalization, reduced costs of transport, and modernization of the food sector have augmented the growth of market in this region. India and China are the key countries which have a major share in Asia Pacific region. Countries in East Europe, such as Bulgaria and Romania, have witnessed a lucrative growth owing to increasing investments in the agricultural sector and better water preservation techniques. These factors have resulted in growing agricultural activities in this region and thus boosted the demand in these regions.

Competitive Landscape:

Major companies in the global agrochemicals market Syngenta AG (Switzerland), Bayer CropScience (Germany), BASF SE (Germany), Corteva (US), Monsanto (US), United Phosphorus Limited (India), China National Chemical Corp (China), ADAMA Agricultural Solutions (Israel), Nufarm Limited (Australia), Sumitomo Chemical (Japan), The Mosaic Company (US), Arysta LifeScience Corporation (Japan), Crystal Crop Protection Pvt. Ltd. (India), Yara (Norway), and Murugappa Group (India). The market players are engaged in product development to amplify their market share and gain traction in global marketplace. The companies are engaging in strategic acquisitions such as product launches, R&D, agreements, and collaborations to gain market share and competitive advantage through combined synergies. In May 2018, Yara International ASA closed its acquisition of Brazil's fertilizer company, Vale Cubatão Fertilizantes complex. With this acquisition, new were added to company’s existing capacity. This will help Yara to meet demand for fertilizers from Brazil and increase their product portfolio. In June 2018, Bayer AG company acquired US based Biological crop protection and innovation chemical product manufacturing company Monsanto. This was a multi-billion-dollar acquisition and helped in increasing their market share In November 2016, BASF SE launched a new fungicide production line at its production site in Tarragona, Spain. The company invested Euro 21 Mn and planned to increase its on-site production by up to 25%. Since 2011, the agrochemicals market has witnessed an increase in demand, especially in developing nations such as India, China, Mexico, and Brazil.

The Global Agrochemicals Market has been segmented on the basis of

Product Types

• Fertilizers
• Nitrogenous
• Potassic
• Phosphatic
• Pesticides
• Organophosphates
• Pyrethroids
• Neonicotinoids
• Bio-Pesticides
• Herbicides
• Insecticides
• Fungicides
• Others

Crop Types

• Cereals & Grains
• Oilseed & Pulses
• Fruits & Vegetables
• Others

Applications

• Crop based
• Non-Crop based

Regions

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• Latin America