Global Agrochemicals Market – Industry Trends and Forecast to 2029

Global Agrochemicals Market, By Crop Type (Cereals, Pulses and Oilseeds, Fruits and Vegetables, Lawns and Turfs, Others), Mode of Application (Foliar, Fertigation, Others), Form (Paints and Coatings, Pesticides, Chemicals, Gasoline, Printing, Rubber and Leather), Type (Fertilizers, Pesticides) – Industry Trends and Forecast to 2029

Market Analysis and Size

Agrochemicals are chemical or biological formulations that have been engineered to improve crop quality and yield. Fertilizers and pesticides are two types of agrochemicals. Fertilizers enhance the quality of crop by providing essential nutrients to the crop and soil, whereas pesticides protect crops by controlling, killing, or repelling pests and weeds that can harm the crop. Given the current global population scenario, increasing crop production within the existing arable land is critical to feed the world's population.

Data Bridge Market Research analyses that the agrochemicals market was valued at USD 209.4 billion in 2021 is expected to reach the value of USD 302.38 billion by 2029, at a CAGR of 4.70% during the forecast period of 2022 to 2029.

Market Definition

Agrochemicals are specialized chemicals and compounds that are used to protect and improve the quality of agricultural products. They are used in commercial plantation agricultural fields and units to protect produce from pests, weeds, and fungi while also increasing yield. Nitrogen, and potassic fertilizers, insecticides, herbicides, fungicides, rodenticides, phosphatic,molluscicides, nematicides, and pesticides are the most commonly used agrochemicals.

Report Scope and Market Segmentation

Agrochemicals Market Dynamics

Drivers

• Rising greenhouse vegetable production

Increasing greenhouse vegetable production, a scarcity of arable land, rising levels of investment in research and development activities, and the ease with which agrochemicals can be used are some of the factors that will likely boost the growing of the agrochemicals market

• Rapid product innovations and developments

Other growth-inducing factors include product innovations such as the development of sustainable bio-based agrochemicals. Compared to conventional synthetic chemicals, these alternatives are more environmentally friendly, efficient, and cost-effective. In line with this, the growing preference for natural food products among the general public also contributes to an rise in the demand for agrochemicals.

Other growth-inducing factors include product innovations such as the development of sustainable bio-based agrochemicals. Compared to conventional synthetic chemicals, these alternatives are more environmentally friendly, efficient, and cost-effective. In line with this, the growing preference for natural food products among the general public also contributes to an increase in the demand for agrochemicals.

Opportunity

The harmful elements in chemical agricultural products produce such high amounts of pollution that they have serious and, in many cases, lethal impacts on the ecosystem. Bio-based agrochemicals are being developed as viable replacements to synthetic chemicals in a number of applications as consumer awareness of environmentally friendly and sustainable products grows.

Restraints

The agrochemicals market is highly split, with a significant number of large and small firms. The bulk of market participants are based in Europe and offer a diverse range of items with the growing demand for agrochemical products, the market's leading players are focusing on R&D investments in order to produce goods that meet the needs of customers.

This agrochemicals market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the agrochemicals market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Agrochemicals Market

COVID-19 has had an impact on agrochemical production and supply. The global pandemic has had an impact on several industries around the world, including the agrochemicals market. A short-term labour scarcity and distribution bottlenecks caused a considerable disparity between the number of personnel necessary for pesticide production and those available in terms of supply. Crop production has also decreased due to a lack of laborers in large-scale plantations, reducing demand for agrochemicals during the pandemic.

Recent Development

• Timeline® FX, an advanced cross-spectrum spring foliar herbicide for cereals, was introduced by Adama in February 2022. The product is designed with three Active Ingredients with complementary modes of action and a built-in adjuvant to provide growers with the broadest application window of any herbicide for controlling broadleaf and grass weeds in cereal crops.
• Yara and Lantmännen signed a commercial agreement in January 2022 to bring fossil-free fertilizers to market. The companies' collaboration resulted in a commercial contract for green fertilizers manufactured by Yara and marketed by Lantmännen in Sweden beginning in 2023.

Global Agrochemicals Market Scope

The agrochemicals market is segmented on the basis of crop type, mode of application, form, and type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Crop Type

• Cereals
• Pulses and oilseeds
• Fruits and vegetables
• Lawns and turfs
• Others

On the basis of crop type, the agrochemicals market is segmented into cereals, pulses and oilseeds, fruits and vegetables, lawns and turfs, and others. 

Mode of Application

• Foliar
• Fertigation
• Others

Based on mode of application, the agrochemicals market is segmented into foliar, fertigation, and others. 

Form

• Paints and coatings
• Pesticides
• Chemicals
• Gasoline
• Printing
• Rubber
• Leather

Based on the form, the agrochemicals market is segmented into paints and coatings, pesticides, chemicals, gasoline, printing, rubber and leather.

Type

• Pesticides
• Fertilisers

Based on the type, the agrochemicals market is segmented pesticides and fertilizers.

Agrochemicals Market Regional Analysis/Insights

The agrochemicals market is analyzed and market size insights and trends are provided by country, crop type, mode of application, form, and type as referenced above.

The countries covered in the agrochemicals market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the agrochemicals market due to rising disposable income levels, rapid urbanization, and modernization of the food sector in the region. In contrast, Europe is expected to grow in the forecast period of 2022 to 2029 due to increased investment in agricultural sector growth and adoption of better water preservation technologies in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Agrochemicals Market Share Analysis

The 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.

Some of the major players operating in the agrochemicals market are:

• Bayer AG (Germany)
• BASF SE (Germany)
• Yara (Norway)
• Compass Minerals (US)
• Syngenta Crop Protection AG (Switzerland)
• ADAMA (Israel)
• Sumitomo Chemicals Co. Ltd. (Japan)
• Nufarm (Australia)
• UPL (India)
• K+S Aktiengesellschaft (Germany)
• ICL (Israel)