Global Information would like to present a market research report, " Global Markets for Agrochemicals" by BCC Research.
The global market for fertilizers and pesticides is estimated to be worth nearly $120 billion in 2009, but is expected to increase to more than $196 billion in 2014, for a compound annual growth rate (CAGR) of 10.4%.
Due to the reduction in available natural fuels, biofuels are found as efficient substitutes, and the production of biofuels requires increases in agricultural production, which is achieved by the use of agrochemicals. All of these factors show agrochemicals as a promising segment in the modern agricultural market.
The largest segment of the market, fertilizers, is expected to increase at a healthy 5-year CAGR of 11.4%, rising from an estimated $68.4 billion in 2009 to nearly $118 billion in 2014. The other segment, pesticides, is expected to rise from nearly $51.2 billion in 2009 to $78.3 billion in 2014, for a CAGR of 8.9%.