Global Agrochemicals Market will propel to garner USD 265.5 Bn, with a CAGR of 4.5% from 2018 to 2025
11 July 2018
Agrochemicals are the result of modern technology that depends on inorganic fertilizers and pesticides. Agrochemicals (pesticides and fertilizers) are looked upon as a vehicle for improved crop production technology. Balance use, optimum doses, correct method and right time of application of agrochemicals ensures increased crop production. Growing global population, reducing land and water resources, the world will not only have to raise its agricultural production but also the productivity to ensure food and nutrition security. Thus, agrochemicals are expected to have become necessity for meet ever increasing food demand.
High efficiency of agrochemicals, ease of use of agrochemicals, rapid growth in greenhouse vegetable production, limited availability of arable land and shifting R&D investments is expected to drive agrochemicals market in near future. While, increasing environmental concerns, strict government regulations and availability of eco-friendly alternatives may restrain growth of agrochemicals market.
In terms of revenue, global agrochemicals market in 2017 stood at around USD 220.0 Bn and is expected to reach USD 265.5 Bn by 2025 growing at a CAGR of 4.5% from 2018 to 2025. In terms of product, fertilizer segment held the largest market share followed by pesticides. Cereals & grains application segment is the largest application segment of the agrochemicals market and it accounted for approximately 30% share of the total market in terms of revenue. Fruits & vegetables application segment is expected to grow at a fastest growth rate of during the time period of 2018 to 2025.
Asia Pacific dominated the global agrochemicals market due to the large number of customers and huge demand in the region. In addition, high production of agrochemicals in Asia Pacific helps to grow the market in coming years. Asia pacific region accounted for more than 35% of global agrochemicals market. North America was the second largest market followed by Europe. South America is expected to grow at fastest growth rate during the forecast period.
Monsanto Company, Israel Chemicals Limited, BASF SE, The DOW Chemicals Company , E. I. Du Pont De Nemours and Company, Yara International ASA, Sociedad Química Y Minera S.A., The Mosaic Company, Syngenta AG, Bayer Cropscience AG are some leading vendors of this market.
The global agrochemicals market is segmented as follows:
Global Agrochemicals Market: Product Analysis
Global Agrochemicals Market: Crop Analysis
Cereals & grains
Oilseeds & pulses
Fruits & vegetables
Others (includes plantation crops and hydroponics)
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