Blog Details

Rising Adoption of Precision Farming Supports the Global Agrochemicals Market

Date: 9th Nov 2021 | Category: Agriculture

The global agrochemicals market is expected to reach US$305.71 billion in 2025, progressing at a CAGR of 3.98%, over the period 2021-2025. Growth in the agrochemicals market has accrued due to rising demand of food supplies across the globe, expanding railway network, growing deficit in arable lands, escalating animal husbandry sector and surging sales of mineral fertilizers. The market is anticipated to experience certain trends like increasing number of agrochemicals going off patent, accelerating adoption of biopesticides, favorable government policies and rising adoption of precision farming. The growth of the market would be challenged by rapid growth of organic food industry, safety issues with the use of agrochemicals and high development cost of agrochemicals. 

The global agrochemicals market has been segmented on the basis of product and application. According to product, the market can be bifurcated into fertilizers, pesticides and others which include plant growth regulators, liming and acidifying agents, adjuvants, etc. Whereas, in terms of application, the global agrochemicals market can be split into cereals & grains, fruits & vegetables, oilseeds & pulses and others which include non-crop based applications.

The fastest growing regional market is Asia Pacific due to the surge in awareness among end-users regarding the benefits of agrochemicals, rising population base along with increasing demand for food, limited agricultural land, issues such as soil erosion and degradation and growing consumer demand for sustainable production of food. Further, the outbreak of COVID-19 pandemic negatively impacted the market growth in 2020, due to weakened global demand conditions and halted manufacturing activities across the region.

Scope of the report:

• The report provides a comprehensive analysis of the global agrochemicals market segmented on the basis of product, application and region with potential impact of COVID-19.

• The major regional and country markets (Asia Pacific, Europe, North America and Rest of the World) have been analyzed. 

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

• The competitive landscape of the market, along with the company profiles of leading players (BASF SE, Bayer AG, Sumitomo Chemical Co., Ltd., The Syngenta Group, Corteva, Inc., and FMC Corporation) are also presented in detail. 

Key Target Audience:

• Agrochemical Manufacturers, Distributors and Other Stakeholders

• Raw Material Suppliers

• Traders, Importers & Exporters 

• Farming Communities, Crop Protection & Other Agricultural Associations

• Research and Academic Institutes