Market Research Report
Indonesia Agrochemicals Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||389245|
|Published||Content info||85 Pages
Delivery time: 2-3 business days
|Indonesia Agrochemicals Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: April 1, 2019||Content info: 85 Pages||
The Indonesian agrochemicals market was valued at USD 523.3 million in 2018 and is forecasted to reach a value of USD 668.4 million by 2024, witnessing a healthy CAGR of 4.09%, during the forecast period. As of 2018, the grains and cereals segment had the highest share, representing 36% of the market.
An agrochemical or agricultural chemical is a chemical product used in agriculture. More often than not, it is a fertilizer or a crop protection chemical. The report defines the market, in terms of end users, who procure agrochemicals for agriculture. The end users include farmers and institutional buyers, operating in agricultural production.
Indonesia is a nation troubled by the significant slowing down of productivity gains of most food crops and due to the majority of farmers operating less than one-half hectare. Adding to that, the agriculture segment is facing threats from many factors like changes in climatic conditions, reducing soil fertility, increase in number of plant diseases, and others which are resulting in low yields. In order to increase the yield the government of Indonesia is trying to increase the usage of agrochemicals.
The grains and cereals segment of the Indonesian agrochemicals market accounted for 36.4% share of the total market in 2018. Rice is Indonesia's dominant staple crop, accounting for around 21% of the total agricultural production in 2016. In the province of Java, brown planthopper is a major rice pest and vector of viruses among Javanese rice farms, leading to higher use of crop protection chemical in the province.
The Indonesian crop protection chemicals market has a mixed outlook in terms of shares, as the major four companies in the market account for around 58.5% of the market, while the rest 41.5% is accounted through other multi-national and domestic companies.
International companies, such as Syngenta Indonesia PT, PT BASF Indonesia, DowDuPont, and domestic companies, such as PT BISI International Tbk are trying to grab a larger share in the market by introducing new products and by acquiring business units from other companies.