Agricultural Chemicals are a large and heavily regulated sub-sector within the chemical industry. Agricultural chemicals are chemicals or chemical products that are used in agriculture. Herbicides, pesticides, insecticides, fungicides and synthetic fertilizers, hormones and other chemical growth agents are all included. They are used to control weeds, diseases, insects and pests. They are also used to increase plant growth and production.
Data Bridge Market Research analyzes that the agrochemicals market was valued at US$229.40 billion in 2021 and is projected to reach US$379.66 billion by 2029, growing at a CAGR of 6.50% over the forecast period of 2022- 2029
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Market analysis and size
Agricultural chemicals are chemical or biological formulations designed to improve the quality and yield of crops. fertilizer and pesticides are two types of agricultural chemicals. Fertilizers improve crop quality by adding essential nutrients to the plant and soil pesticides Protecting plants by controlling, killing or repelling pests and weeds that can damage plants. Given the current world population scenario, increasing crop production within existing arable land is crucial to feed the world population.
Agricultural Chemicals Competitive Landscape and Market Share Analysis
Agricultural Chemicals market competitive landscape includes details by competitor. Details included are company overview, company financials, revenue generated, market potential, R&D investments, new market initiatives, global footprint, manufacturing locations and facilities, manufacturing capabilities, company strengths and weaknesses, product launch, product breadth and breadth, application dominance. The data points provided above are only related to the companies focus regarding Agricultural Chemicals Market.
Some of the Major Players in Agricultural Chemicals Market are:
- Bayer AG (Germany)
- BASF SE (Germany)
- Yara (Norway)
- Compass Minerals (USA)
- Syngenta Crop Protection AG (Switzerland)
- ADAMA (Israel)
- Sumitomo Chemicals Co.Ltd. (Japan)
- Nufarm (Australia)
- UPL (India)
- K+S Aktiengesellschaft (Germany)
- ICL (Israel)
- Rotam (South Korea)
- Corteva (USA)
- FMC Corporation (USA)
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Impact of COVID-19 on Agricultural Chemicals Market
COVID-19 has impacted the production and supply of agrochemicals. The global pandemic has affected the smooth functioning of various industries worldwide, including the agrochemicals market. On the supply side, a short-term shortage of migrant workers and distribution bottlenecks have created a large gap between the labor force needed for agrochemical production and the labor force available. Crop production has also declined due to labor shortages in large plantations, which has reduced demand for agricultural chemicals during the pandemic.
The latest development
The agrochemicals market is segmented by crop type, type of application and type. The growth in these segments will help you analyze lean growth segments in the industries, providing users with valuable market overview and market insights to help them make strategic decisions to identify core market applications.
On the basis of crop type, the agrochemicals market is segmented into grains, legumes & oilseeds, fruits & vegetables, turf & peat, and others.
type of application
Based on application type, agrochemicals market is segmented into foliar, fertigation and others.
The Agricultural Chemicals market is analyzed and insights into the market size and trends are provided by country, crop type, application type and species as stated above.
The countries covered in Agricultural Chemicals market report are USA, Canada & Mexico in North America, Germany, France, UK, Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan and India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia Pacific (APAC), Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as part of the Middle East and Africa (MEA), Brazil, Argentina and the rest of South America as part of South America.
Asia Pacific dominates the agrochemicals market due to rising disposable income, rapid urbanization and modernization of the food sector in the region. In contrast, Europe is expected to grow in the forecast period 2022-2029 owing to increased investment in agricultural sector growth and the introduction of better water conservation technologies in the region.
The country section of the report also includes individual market influencing factors and changes in market regulation that impact the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends and Porter’s five forces analysis, and case studies are some of the pointers used to predict the market scenario for individual countries. It also considers the presence and availability of global brands and their challenges due to high or low competition from local and domestic brands, the impact of domestic tariffs and trade routes while providing a forecast analysis of the country data.
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