Global Agrochemicals Market Anticipated to Garner a Revenue of $328.0 Billion and Rise at a CAGR of 4.1% over the Estimated Period 2018-2026 [210-Pages] | Details by Research Dive

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07 Mar, 2023, 11:59 GMT

The global agrochemicals market is predicted to witness striking growth by 2026, due to the increasing population and rising use of advanced pesticides for crop production. Regionally, the Asia-Pacific region is predicted to dominate the market.

NEW YORK, March 7, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Agrochemicals Market, by Type (Fertilizers and Pesticides), Regional Outlook (North America, Europe, Asia-Pacific, and LAMEA), Global Opportunity Analysis and Industry Forecast, 2018-2026".

According to the report, the global agrochemicals market is envisioned to generate a revenue of $328.0 billion and grow at a 4.1% over the analysis timeframe during the forecast period from 2018 to 2026.

Dynamics of the Agrochemicals Market

The increasing population all across the globe has increased the demand for food supplies which is expected to bolster the growth of the agrochemicals market over the forecast period. Moreover, the increasing use of agrochemicals by farmers to increase crop production without any failure is expected to fortify the growth of the market during the analysis timeframe. However, the stringent government regulations and bulk storage issues may hinder the growth of the market throughout the estimated period.

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Segments of the Agrochemicals Market

The report has divided the market into segments based on type, and region.

  • By type, the fertilizer sub-segment is predicted to be most productive and is projected to grow at a CAGR of 3.5% over the analysis timeframe. The increasing preference for using fertilizers among farmers to improve the crop yielding capacity is expected to upsurge the growth of the market sub-segment during the forecast period.
  • By region, the Asia-Pacific region of the agrochemicals market is expected to have massive growth opportunities and is predicted to generate a revenue of $176.8 billion over the estimated period. The strong presence of agriculture-based countries in this region holding the most arable land across the world and increasing use of best farming techniques are expected to drive the regional growth of the market during the analysis timeframe.

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Key Players of the Market

The major players of the agrochemicals market include

  • Monsanto Company
  • Syngenta AG
  • E. I. du Pont Nemours and Company
  • BASF
  • Sumitomo Chemical Company
  • Dow AgroSciences LLC
  • Yara International ASA
  • Agrium Inc.
  • The Mosaic Co.
  • Bayer AG

These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to attain a leading position in the global industry.

For instance, in July 2021, Enko, a leading developer of sustainable solutions for farmers to protect their crops from pests and diseases announced its partnership with Bayer AG, a German multinational pharmaceutical and biotechnology company. With this partnership, the companies aimed to develop diverse chemistries for crop production and help farmers safely target pests in new ways.

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Further, the report also summarizes other crucial aspects including SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic development. 

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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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