Agrochemicals Market Size, Share, Trends, Growth 2032

Agrochemicals Market Insights

Zion Market Research has published a report on the global Agrochemicals Market, estimating its value at USD 254.69 Billion in 2023, with projections indicating that it will reach USD 359.37 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 3.9% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Agrochemicals industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.Request Free Sample

Global Agrochemicals Market: Overview

Agrochemicals are chemical compounds that are commonly used in horticulture, agriculture and floriculture. Agrochemicals include fertilisers, antibiotics, hormones and many other chemical growth agents. They are primarily used to protect crops from insects, diseases and to promote their further growth and production.

Global Agrochemicals Market: Growth Factors

The global demand for agrochemicals is driven by growing recognition among farmers in developed countries, as well as by modern technical farming practises. Increased demand for food grain and diminishing cultivable land due to industrialization and urbanisation is also one of the key factors driving global market developpment. Crops such as fruit and vegetables, cereals and grains of high value, along with covered crops, have raised returns on investments that help raise the global demand for agrochemicals. The demand for agricultural goods from the greenhouse system has contributed to more growth in the industry.

The global market for agrochemicals is powered by rising demand for pest-free crops, and various research and intellectual property rights, along with changing R&D spending, are accelerating global agrochemical market growth. Global demand growth is enhanced by growing farmers' attention to high-quality agrochemical crops. But the global market is limited by the high demand for agricultural chemicals and bio-farming.

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Global Agrochemicals Market: Segmentation

The global agrochemicals market is segmented on the basis of type, pesticide type, fertilizer type, subtype, crop type, and region.

The type segment is further segmented into fertilizers and pesticides.

The pesticide type segment is bifurcated into pyrethroids, organophosphates, bio-pesticides and neonicotinoids.

The fertilizer type segment is further divided into phosphatic, nitrogenous and potassic.

The crop type segment of the global agrochemicals market is further sub-segmented into cereals and grains, oilseeds and pulses, plantation crops, hydroponics and fruits, and vegetables.

Agrochemicals Market: Report Scope

Global Agrochemicals Market: Regional Analysis

The region segment is further categorized into Latin America, Asia Pacific, North America, Europe and Rest of the World.

A vast number of fertile land and excellent soil fertility have resulted in the growth of the global market for agrochemicals in the Asia-Pacific regions. North America and Europe are projected to be fast-growing economies in the future. Rising demand for food grains from the increasing population and higher food grain exports in India and China are projected to fuel the market for agrochemicals in the Asia-Pacific regions. The US is the biggest manufacturer of agrochemicals in North America.

Global Agrochemicals Market: Competitive Players

Some main participants of the agrochemicals market are

• Bayer A.G
• Makhteshim Agan Industries Ltd
• Agrium Inc
• Mosaic Company
• Indian Farmers Fertiliser Cooperative
• Potash Corp
• SAS. Inc
• Nufarm Ltd
• Sumitomo Chemical
• Dow Agrosciences LLC.
• BASF S.E.
• Israel Chemicals Ltd
• K+S AG
• E.I. Du Pont De Nemours & Company
• Sociedad Quimica Y Minera De Chile SA
• Yara International ASA
• Dow Chemical Limited
• Monsanto Company

The global agrochemicals Market is segmented as follows:

By Type

• Fertilizers
• Pesticide

By Pesticide Type

• Pyrethroids
• Organophosphates
• Bio-Pesticides
• Neonicotinoids

By Fertilizer Type

• Phosphatic
• Nitrogenous
• Potassic

By Crop Type

• Cereals And Grains
• Oilseeds And Pulses
• Plantation Crops
• Hydroponics And Fruits
• Vegetables

Agrochemicals Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa