Market Research Report
Global Agrochemicals Market - Size, Trends, Competitive Analysis, Market Share and Forecasts (2019-2026)
|Published by||DataM Intelligence||Product code||754807|
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|Global Agrochemicals Market - Size, Trends, Competitive Analysis, Market Share and Forecasts (2019-2026)|
|Published: November 1, 2019||Content info:||
GLOBAL AGROCHEMICALS MARKET
The global Agrochemicals market was valued at USD 215.15 million in 2016 and is forecasted to reach USD 308.9 million by 2025, with a CAGR of 4.08% during the forecast period 2019-2026.
The market is growing by several factors such as increasing grain demand globally, limited natural resources, and limited land for agriculture. In addition, using of bio-based products and some regulatory guidelines are also impacting the global agrochemicals market.
Within the 13 billion hectares of total land, only 1.6 billion is under farmland production where Middle East & Africa accounted for largest share of farmland. With growing demand for more farming land is driving the usage of agrochemicals which helps to yield more within available resources.
Until now demand has been met primarily through yield improvement. However, the improvement rate of yields in the major grains has been slowing down and will not be sufficient to fulfill increasing demand. To meet future global grain demand, the FAO estimates suggest that ~80% of crop production growth by 2050 is expected to come from higher yields, but land available for farming will also have to expand, which is difficult in the present scenario.
The global Agrochemicals market is segmented by Additives into Pesticides (Insecticides, Herbicides, Fungicides, Others), Fertilizers Market (Nitrogen, Phosphate, Potash, Others), Adjuvants (Activator Adjuvants, Utility Adjuvants), and Plant Growth Regulators (Auxins, Cytokinins, Others). By Crops, the market is segmented into Fruits & Vegetables, Turf & Ornamental, Grains & Cereals, Oil crops & Pulses, and Others.
The Additives segment is further segmented into Insecticides, Herbicides, Fungicides, and Others. Among these, Herbicides accounted for the largest market share of over 40% of the total agrochemicals market followed by Fungicides and Insecticides. Herbicides are widely used in several crops such as Soybean, Cereal, Maize, and Rice.
Geographically, the market is segmented into North America, Asia-Pacific, Europe, South America, and RoW.
Some of the major players of global agrochemicals market are: BASF SE, ADAMA Agricultural Solutions, Bayer CropScience AG, E.I. Dupont De Nemours and Company, FMC Corporation and Monsanto Company.
In Feb 2018, RPC Promens Montpont made the containers more enhanced for the Agrochemicals market, integrating plastics light weight and easy handling with better robustness and durability.
In Oct 2017, Bayer announced to sell glufosinate-ammonium business and the related LibertyLink™ technology and some seeds business as a strategy to concentrate on the acquired business of Monsanto.
In May 2016, Bayer announced the acquisition of Monsanto to dominate the global Agriculture market.
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
The report profiles the following companies, which includes BASF SE, ADAMA Agricultural Solutions Ltd, Bayer CropScience AG, E.I. Dupont De Nemours and Company, FMC Corporation, Monsanto Company, Nufarm Limited, Sumitomo Chemical Co., Ltd, Syngenta AG, The Dow Chemical Company, Yara International ASA, and The Mosaic Company.
Plant Growth Regulators
Fruits & Vegetables
Turf & Ornamental
Grains & Cereals
Oil crops & Pulses