The global agrochemicals market size was valued at USD 220.5 billion in 2020, and is predicted to be worth around USD 280.2 billion by 2030, registering a CAGR of 2.9% during the forecast period 2022 to 2030.
The global market is predominantly driven by the increasing demand for crop protection products in the agricultural field across the globe. Approximately 25% of the world crop output is lost every year due to diseases and attacks by pests & weeds. Hence, agrochemicals play a vital role in enhancing crop yield and production. Growing food demand, increasing adoption of precision farming methods, shrinking arable land due to increasing population, and rapid urbanization & industrialization across the globe are some also among the key factors driving the market.
The market growth is dependent on pest attacks, crop yields, and agriculturists’ awareness levels & capacity to buy products depending on their availability of credit. Increasing demand for insecticides across the globe is also a major factor driving the market growth. The agrochemicals production has been impacted to some extent owing to the COVID-19 pandemic. Before the pandemic, some countries were dependent on China for raw material supply. Restrictions imposed on transportations and imports across borders in various nations have resulted in the shortage of raw materials.
|Market Size||US$ 280.2 billion by 2030|
|Growth Rate||CAGR of 2.9% From 2022 to 2030|
|Largest Market||North America|
|Forecast Period||2022 to 2030|
|Segments Covered||Product, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||CVS/Coram; Option Care Health; BriovaRx/Diplomat (UnitedHealth Optum); PharMerica; Fresenius Kabi; ICU Medical, Inc.; B. Braun Melsungen AG; Baxter; BD; Caesarea Medical Electronics; Smiths Medical; Terumo Corporation; JMS Co. Ltd.|
By Product Analysis
The fertilizer segment led the market and accounted for 66.9% of the global revenue share in 2020. Fertilizers are being widely used to increase crop yield in a short period. The growing crop/food demand across the globe is increasing the pressure on the agricultural land, thus, farmers are utilizing more fertilizers to increase the productivity and yield of different crops.
Nitrogenous fertilizers are readily available and help in fast plant growth & enhance yields. However, increasing usage of nitrogenous fertilizers has bad effects on the surrounding environment including water bodies. The crop protection chemicals segment is expected to grow at a considerable CAGR over the forecast period, in terms of revenue.
Crop protection chemicals include insecticides, fungicides, herbicides, and other products, such as rodenticides, bactericides, etc. Herbicide is expected to dominate the crop protection chemical segment.
This growth can be attributed to the increasing demand for the product for various crops, such as cotton, paddy (rice crop), and fruits & vegetables among others. They are found effective in preventing early germination pest attacks in various crops. Insecticides are the second-largest application segment for agrochemicals.
By Application Analysis
The cereal & grains segment dominated the market with a revenue share of 47.2% in 2020. Cereal & grains are the largest consumed class of crops, mostly in Asia Pacific. Moreover, cereals and grains cover a vast area of cultivation in the world.
Soil nutrient deficiency can result in less bioavailable nutrients in crops, such as wheat and rice, and can cause decreased yields. The fruits & vegetable segment is expected to grow at the fastest CAGR over the forecast period.
By Regional Analysis
Asia Pacific was the leading regional market with a revenue share of 27.2% in 2020. The region is the major producer of agricultural products in the world. Countries, such as India, China, and Japan, are the key contributors to the regional market.
The region is expected to account for 53% of the global output of agricultural products and fish by 2030. The population in the region is growing at a CAGR of 0.6% and is expected to add 322 million people to the current 4.3 billion population by 2030.
The U.S. ranks first in the production of some of the crops, such as maize, sorghum, blueberry, and almonds. According to the FAO, the U.S. is one of the major producers, consumers, and exporters of agrochemicals.
Huntsman International LLC
The DOW Chemical Company
Evonik Industries AG
Croda International Plc
Helena Agri-Enterprises, LLC
Land O’ Lakes, Inc.
Secondary Fertilizers (Calcium, Magnesium, and Sulfur Fertilizers)
Crop Protection Chemicals
Plant Growth Regulators
Cereal & Grains
Oilseeds & Pulses
Fruits & Vegetables
Central & South America
Middle East & Africa
The agrochemicals market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of agrochemicals market for the base year 2021 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global agrochemicals market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the agrochemicals market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted agrochemicals market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the agrochemicals capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of agrochemicals by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global agrochemicals market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major agrochemicals market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of agrochemicals market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the agrochemicals industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
agrochemicals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to agrochemicals market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of agrochemicals market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new agrochemicals market. These factors have benefited the growth of the global market for agrochemicals. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for agrochemicals. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of agrochemicals are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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