Dublin, Sept. 21, 2022 (GLOBE NEWSWIRE) -- The "Agrochemicals Market by Product Type and by Crop Type - Global Opportunity Analysis and Industry Forecast 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The Agrochemicals Market size was valued 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.
Agrochemical, also known as agrichemical, is a chemical product used in agriculture to prevent the crops from degradation caused by insects, pest infestation, and diseases. It includes synthetic fertilizers, chemical growth agents, and concentrated stores of raw animal manure that are manufactured either synthetically or biologically. Agrichemicals are often water-insoluble and sprayed with solvents to increase the performance and bio-efficacy of the product. The latest agrochemical methods include advanced molecular biology and the development of herbicide tolerant plants such as Glyphosate and Glufosinate.
Market Dynamics and Trends
The demand for agrochemicals is high owing to increasing population across the world along with consequent rise in food demand in several countries such as China, India and USA, among others. The emergence of harmful organisms such as fungi, bacteria and viruses that degrades the quality of the soils results in the utilization of agrochemicals to safeguard crops.
Also, the surge in import and export of agricultural fertilizers across the world is expected to fuel the market growth of agrochemicals in the forecasted period. For instance, in March 2022, Corteva Agriscience announced its growers will have reinstated access to Enlist One and Enlist Duo herbicides for the 2022 growing season. This will help the growers remove geographic restrictions for two listed species, the Eastern Massasauga Rattlesnake and the American Burying Beetle.
However, infringements of intellectual property rights and contamination of air, water, and soil due to excessive use of synthetic agrochemicals are the factors that are expected to restrain the growth of the market during the forecast period. Also, the increasing market demand for organic foods and rising usage of bio-fertilizers are further hampering the market growth. On the contrary, introduction of synthetic pesticides to accelerate the planting and culture process along with incorporation of organic fertilizers to boost yields are factors expected to provide lucrative opportunities for market players in the future.
Market Segmentations and Scope of the Study:
The global agrochemicals market is segmented on the basis of product type, crop type, and geography. Based on product type, the market is classified into fertilizers, pesticides, adjuvants, and plant growth regulators. The fertilizers segment is sub-divided into synthetic fertilizers and bio fertilizers. The synthetic fertilizers segment is further bifurcated into nitrogenous, phosphatic, potassic, and others.
The pesticides segment is sub-divided into insecticides, herbicides, and fungicides. The insecticides segment is further bifurcated into synthetic insecticides and bio insecticides. The herbicides are further bifurcated into synthetic herbicides and bio herbicides. The fungicides are further bifurcated into synthetic fungicides and bio fungicides. On the basis of crop type, the market is categorized into cereals & grains, oil seed & pulses, fruits & vegetables, and others. Geographical breakdown and analysis of each of the aforesaid classification includes regions such as North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
Asia-Pacific holds the maximum share in the global agrochemicals market and is expected to continue its dominance throughout the forecast period as well. This is attributed to factors such as rapid increase in population resulting in rising demand for large production of fruits, vegetables, and cereal crops such as wheat and rice. Moreover, factors such as increasing R&D activities coupled with awareness among farmers about the correct use of agrochemicals products are driving the growth of market in this region.
On the other hand, North America demonstrated substantial growth in the agrochemicals market due to significant technological advancements in the form of biotechnology and bio-pesticides, followed by growing demand of agricultural commodities which results in large scale utilization of agrichemicals for high yield and crop loss. The decrease in arable land per person in this region resulted in a significant rise in the use of pesticides, which in turn is expected to boost the market growth in the coming years.
Competitive Landscape
Market players operating 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 are adopting various strategies such as product launches and partnership to maintain their dominance in the global agrochemicals market.
For instance, in March 2021, Corteva Agriscience announced the launch of two new global brands for Naturally Derived Spinosyn Insecticides namely Qalcova active and Jemvelva active that demonstrates the results of Corteva Agriscience's exceptional research, development, and testing capabilities.
Key Topics Covered:
1. Introduction
2. Agrochemicals Market - Executive Summary
3. Market Overview
3.1. Market Definition and Scope
3.2. Market Dynamics
3.2.1 Drivers
3.2.1.1. Growing Population and Consequent Rise in Food Demand
3.2.1.2. Growing Demand of Agrochemicals by Farmers
3.2.2 Restraints
3.2.2.1. Stringent Government Regulations
3.2.2.2. Growth of the Organic Fertilizer Industry
3.2.3 Opportunities
3.2.3.1. Launch of New Agrochemicals
4. Global Agrochemicals Market, by Type
4.1. Overview
4.2. Fertilizers
4.2.1 Global Fertilizers Market, by Type
4.2.1.1. Nitrogenous (Synthetic)
4.2.1.1.1. Global Nitrogenous (Synthetic) Market, by Fertilizers
4.2.1.1.1.1. Urea Market, by Region
4.2.1.1.1.2. Ammonia Market, by Region
4.2.1.1.1.3. Calcium Ammonium Nitrate Market, by Region
4.2.1.1.1.4. Other Nitrogenous Fertilizers Market, by Region
4.2.1.2. Nitrogenous (Synthetic) Market, by Region
4.2.1.3. Phosphatic (Synthetic)
4.2.1.3.1. Global Phosphatic (Synthetic) Market, by Fertilizers
4.2.1.3.1.1. Di-Ammonium Phosphate (Dap) Market, by Region
4.2.1.3.1.2. Mono-Ammonium Phosphate (Map) Market, by Region
4.2.1.3.1.3. Triple Superphosphate (Tsp) Market, by Region
4.2.1.3.1.4. Other Phosphatic Fertilizers Market, by Region
4.2.1.4. Phosphatic (Synthetic) Market, by Region
4.2.1.5. Potassic (Synthetic)
4.2.1.5.1. Global Potassic (Synthetic) Market, by Fertilizers
4.2.1.5.1.1. Potassium Chloride Market, by Region
4.2.1.5.1.2. Potassium Sulfate Market, by Region
4.2.1.5.1.3. Potassium Magnesium Sulfate Market, by Region
4.2.1.5.1.4. Others Potassic Fertilizers Market, by Region
4.2.1.6. Potassic (Synthetic) Market, by Region
4.2.1.7. Biofertilizers Market, by Region
4.2.2 Fertilizers Market, by Region
4.3. Pesticides
4.3.1 Global Pesticides Market, by Type
4.3.1.1. Herbicide (Synthetic)
4.3.1.1.1. Global Herbicide (Synthetic) Market, by Pesticides
4.3.1.1.1.1. Glyphosate Market, by Region
4.3.1.1.1.2. Atrazine Market, by Region
4.3.1.1.1.3. Acetochlor Market, by Region
4.3.1.1.1.4.4-D Market, by Region
4.3.1.1.1.5. Paraquat Market, by Region
4.3.1.1.1.6. Other Synthetic Herbicides Market, by Region
4.3.1.2. Herbicide (Synthetic) Market, by Region
4.3.1.3. Insecticide (Synthetic)
4.3.1.3.1. Global Insecticide (Synthetic) Market, by Pesticides
4.3.1.3.1.1. Organophosphates Market, by Region
4.3.1.3.1.2. Pyrethroids Market, by Region
4.3.1.3.1.3. Methyl Carbamate Market, by Region
4.3.1.3.1.4. Neonicotinoids Market, by Region
4.3.1.3.1.5. Other Synthetic Insecticide Market, by Region
4.3.1.4. Insecticide (Synthetic) Market, by Region
4.3.1.5. Fungicide (Synthetic)
4.3.1.5.1. Global Fungicide (Synthetic) Market, by Pesticides
4.3.1.5.1.1. Dithiocarbamates Market, by Region
4.3.1.5.1.2. Benzimidazoles Market, by Region
4.3.1.5.1.3. Chloronitriles Market, by Region
4.3.1.5.1.4. Triazoles Market, by Region
4.3.1.5.1.5. Phenylamides Market, by Region
4.3.1.5.1.6. Strobilurins Market, by Region
4.3.1.5.1.7. Other Synthetic Fungicide Market, by Region
4.3.1.6. Fungicide (Synthetic) Market, by Region
4.3.1.7. Other Synthetic Pesticides Market, by Region
4.3.1.8. Biopesticide
4.3.1.8.1. Global Biopesticide Market, by Pesticides
4.3.1.8.1.1. Bioherbicide Market, by Region
4.3.1.8.1.2. Bioinsecticide Market, by Region
4.3.1.8.1.3. Biofungicide Market, by Region
4.3.1.8.1.4. Other Biopesticide Market, by Region
4.3.1.9. Biopesticide Market, by Region
4.3.2 Pesticides Market, by Region
5. Global Agrochemicals Market, by Region
6. Company Profiles
6.1. Bayer AG
6.1.1 Company Overview
6.1.2 Company Snapshot
6.1.3 Operating Business Segments
6.1.4 Product Portfolio
6.1.5 Business Performance
6.1.6 Sales by Business Segment
6.1.7 Sales by Geographic Segment
6.1.8 Key Strategic Moves & Developments
6.1.9 Primary Market Competitors
6.2. Gharda Chemicals Ltd
6.2.1 Company Overview
6.2.2 Company Snapshot
6.2.3 Product Portfolio
6.2.4 Key Strategic Moves & Developments
6.2.5 Primary Market Competitors
6.3. Icl Group Ltd.
6.3.1 Company Overview
6.3.2 Company Snapshot
6.3.3 Operating Business Segments
6.3.4 Product Portfolio
6.3.5 Business Performance
6.3.6 Sales by Business Segment
6.3.7 Sales by Geographic Segment
6.3.8 Key Strategic Moves & Developments
6.3.9 Primary Market Competitors
6.4. The Mosaic Company
6.4.1 Company Overview
6.4.2 Company Snapshot
6.4.3 Operating Business Segments
6.4.4 Product Portfolio
6.4.5 Business Performance
6.4.6 Sales by Business Segment
6.4.7 Sales by Geographic Segment
6.4.8 Key Strategic Moves & Developments
6.4.9 Primary Market Competitors
6.5. Syngenta AG
6.5.1 Company Overview
6.5.2 Company Snapshot
6.5.3 Operating Business Segments
6.5.4 Product Portfolio
6.5.5 Business Performance
6.5.6 Sales by Business Segment
6.5.7 Sales by Geographic Segment
6.5.8 Key Strategic Moves & Developments
6.5.9 Primary Market Competitors
6.6. Corteva Agriscience
6.6.1 Company Overview
6.6.2 Company Snapshot
6.6.3 Operating Business Segments
6.6.4 Product Portfolio
6.6.5 Business Performance
6.6.6 Sales by Business Segment
6.6.7 Sales by Geographic Segment
6.6.8 Key Strategic Moves & Developments
6.6.9 Primary Market Competitors
6.7. Adama Ltd
6.7.1 Company Overview
6.7.2 Company Snapshot
6.7.3 Operating Business Segments
6.7.4 Product Portfolio
6.7.5 Business Performance
6.7.6 Sales by Business Segment
6.7.7 Sales by Geographic Segment
6.7.8 Key Strategic Moves & Developments
6.7.9 Primary Market Competitors
6.8. Basf Se
6.8.1 Company Overview
6.8.2 Company Snapshot
6.8.3 Operating Business Segments
6.8.4 Product Portfolio
6.8.5 Business Performance
6.8.6 Sales by Business Segment
6.8.7 Sales by Geographic Segment
6.8.8 Key Strategic Moves & Developments
6.8.9 Primary Market Competitors
6.9. Nutrien Ltd.
6.9.1 Company Overview
6.9.2 Company Snapshot
6.9.3 Operating Business Segments
6.9.4 Product Portfolio
6.9.5 Business Performance
6.9.6 Sales by Business Segment
6.9.7 Sales by Geographic Segment
6.9.8 Key Strategic Moves & Developments
6.9.9 Primary Market Competitors
6.10. Yara International Asa
6.10.1 Company Overview
6.10.2 Company Snapshot
6.10.3 Operating Business Segments
6.10.4 Product Portfolio
6.10.5 Business Performance
6.10.6 Sales by Business Segment
6.10.7 Sales by Geographic Segment
6.10.8 Key Strategic Moves & Developments
6.10.9 Primary Market Competitors
For more information about this report visit https://www.researchandmarkets.com/r/vzvyv2
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