Agrochemicals Market Research Report Includes various topics like total market size, key market drivers, challenges, growth opportunities, Industry share, growth, demand, outlook etc. Furthermore, it covers key market updates, the impact of regulations and technological updates in. The report addresses the need to stay updated in this competitive market conditions and this provides and comprehensive data for making strategies and decision to stimulate the market growth and profitability.
The agrochemical market is growing by leaps and bounds and the credit for this goes to a couple of reasons. Agrochemicals also known as agrichemicals or agricultural chemicals are the different chemical products which are used in agriculture. This term in most cases refers to a wide variety of pesticide chemicals including nematicides chemicals, fungicide chemicals, herbicide chemicals and insecticide chemicals. Not only this, the term agrochemicals also include hormones, synthetic fertilizers and other forms of chemical growth agents and raw animal manure. Agrochemicals play a vital part in intensive farming and modern industrialized methods thereby making it possible for the growth of foods on lands that were previously uncultivable and maximizing the produce of the given soil.
Some of the factors that has made the agrochemicals market grow at an exponential pace include rising demand for food because of increasing global population, need for sustainable agriculture, climate change and efficiency and easy availability in agriculture production. Along with the growing population resulting in increasing demand for food, efforts have also been made to improve crop production, bring efficiency in the use of land, increase soil efficiency and superior quality yield which is likely to boost up the agrochemical market. Besides, increased awareness concerning agrochemicals on account of government rules and policies for the growth of agrochemicals raised the quality bar and this in turn increased the global agrochemicals market share. A recent study conducted by Market Research Future (MRFR) reveals that the global agrochemicals market is set to witness a noteworthy CAGR during 2017-2023.
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Major Key Players:
Leading players in the Agrochemicals Market include
- Monsanto Company (US),
- Nufarm Limited (Australia),
- Adama Agricultural Solutions Ltd (Israel),
- Crystal Protection Pvt Ltd (India),
- ArystaLifeScience Corporation (Japan),
- Syngenta AG (Switzerland),
- BASF SE (Germany),
- The Dow Chemical Company (US),
- Bayer CropScience Limited (Germany)
- the Mosaic Company (US).
Mergers and acquisitions have taken the spotlight in the market as prime strategies for large shares. In 2017, ChemChina had acquired DuPont, Dow Chemical and Syngenta merged while Bayer continued the Monsanto acquisition process.
Market Research Future report provides a comprehensive segmental analysis of the global agrochemicals market on the basis of type and product type.
Based on type, this market is segmented into pesticides and fertilizers.
Based on fertilizers product type, this market is segmented into phosphatic, nitrogenous and potassic.
Based on pesticides product type, the agrochemicals market is segmented into bio-pesticides, herbicides, insecticides and fungicides. Of these, biopesticides market is likely to see a market growth as it produces minimal or no toxic residue which means little risk on human health.
Based on crop type, the agrochemicals market is segmented into horticulture crops, plantation crops, cash crops and food grains.
Especially for the key industrial players, the Agrochemicals Market provides promising growth opportunities. It is marked and fragmented by the existence of countless big and small-scale vendors. The agrochemical market’s participants are getting the small players and joining hands with distributors to cater to the global demand. Millions of dollars are being invested by market players for product innovation. The growing demand for agricultural products has automatically increased the demand for agrochemicals in the likes of a prospective crop protectant that is experiencing a rise. Huge investments in the Research and Development sector is adding fuel to the agrochemicals market resting on the launch of quality products that aids the players to promote their product. Also, approvals and certifications from the Government also plays a pivotal part to make their mark on the global level.
Asia Pacific leads the market followed by North America and Europe. The major uses of agrochemicals in agricultural applications have made Asia Pacific grab the largest market share. China and India were the biggest agrochemicals markets of the country-level in 2016 in the Asia-Pacific region. The rise in the demand for food in such highly populous countries led to the increasing demand for agrochemicals for increasing the crop yield, resulting in a boost in the agrochemicals market in such countries in its entirety. Latin America is anticipated in being the forerunner with regards to CAGR in the growth for agrochemicals.
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