Uploaded on Feb 8, 2022
Agrochemicals are chemical products that have been specially engineered for use in agriculture to increase crop yield and protect crops from pests, insects, weeds, fungi, and other pests. Agrochemicals can be produced in both, chemical as well as biological methods.
Agrochemicals Market
Agrochemicals Market Projected To Witness Vigorous Expansion During 2019-2027
Market Overview
Agrochemicals are chemical products that have been specially engineered for use in agriculture to
increase crop yield and protect crops from pests, insects, weeds, fungi, and other pests.
Agrochemicals can be produced in both, chemical as well as biological methods. Synthetic
agrochemicals are a threat for the environment and are gradually being replaced by bio-based
pesticides and fertilizers. An evolution in synthetic chemical manufacture has vastly improved
pesticide processes to accommodate for the enormously growing global population and the
consequent increases in food demands. However, it is estimated that up to 40% of the world’s crops
are spoiled by plant pests and diseases – even with the effective implementation of pesticides.
The global agrochemicals market is estimated to surpass US$ 103,383.4 Mn by the end of 2027 in
terms of revenue, exhibiting a CAGR of 6.2% during the forecast period (2021 to 2027).
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Market Dynamics
Surging global population is boosting the demand for food. On the other hand, urbanization is
reducing agricultural land, thus driving the need to increase crop production in limited agricultural
land. Moreover, rising awareness regarding the advantages of agrochemicals are expected to propel
the adoption of agrochemicals throughout the forecast period.
Factors such as continuous advancements in the technology used in agriculture have led to a shift in
farming practices. Furthermore, with the course of time, with the advent of the era of globalization,
liberalization, and privatization, the manufacturing and service industries became the forefront of
employment for the masses and increasingly brought them into the fold of urbanization for
livelihood and consumption. This shift required more land to be diverted from agriculture to other
commercial and residential uses, and, as a result, it reduced more area from under the fold of
agricultural and other related practices. Thus, this trend has increased the demand for more
agrochemicals to produce more food in less land.
Detailed Segmentation:
•Global Agrochemicals Market, By Origin:
•Synthetic
•Organic
•Global Agrochemicals Market, By Product Type:
•Insecticides
•Fungicides
•Herbicides
•Others (Rodenticides, etc.)
Key companies covered as a part of this study include ADAMA Ltd., Arysta Life Science, Bayer
AG, Isagro Spa, K+S Aktiengesellschaft, Nufarm, Nutrien Ltd, OCI Nitrogen, Sociedad Quimica Y
Minera De Chile, and The Mosaic Company.
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