Agrochemicals Market Providing a more Natural way of Managing and Enhancing the Growth Process of Agricultural Plants

Agrochemical is used for agricultural and non-agricultural purposes.Agrochemicals widely involve fertilizers,pesticides,hormones and plant growth regulators. The major reason for the growth in consumption of agrochemical is the increased pressure on declining farmlands, because of growing population and urbanization. The rising demand of global food security is anticipated to generate a steady demand for agrochemicals. Although the benefits of agrochemicals are creditable, however people are becoming aware of the toxicity of synthetic products which acts as a major challenge for the synthetic agrochemical industry.

The increasing demand for biobased agrochemical, the growing food demand and shrinking land and the increasing demand for nitrogeneous and phosphate based fertilizers will drive the growth of the agrochemicals market.

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The agrochemicals market analysis is segmented by product, crop type, and geography.In the product segment, the market is segmented into fertilizers, pesticides, adjuvants and plant growth regulators market.In the product segment,nitrogenous fertilizers form the largest share of the fertilizers market. The increasing incidences of various pests and diseases will drive the demand for pesticides Pesticides market is currently lead by herbicides products followed by fungicides and insecticides. Further, the market is segmented by crop and non-crop; grains and cereals tend to occupy the largest share in the agrochemical market, followed by oilseed crops.Plant growth regulators provide a more natural way of managing and enhancing the growth process of agricultural plants. The increasing demand of GM crops, as well as the harmful agrochemicals effects and the increasing regulatory constraints with respect to the usage of agrochemicals act as major constraints for the industry.By geography, the agrochemical market is segmented into. North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

India, China, France, Germany, Japan, and the US represent the largest agrochemicals markets. Europe and North America are the established markets for agrochemicals and are expected to show average growth. Currently, China is leading the market with its developing agricultural sector, along with the need for its ever-growing population.South America, particularly Brazil, is one of the world leader in pesticide consumption. Africa also possesses a good potential in the agrochemicals market..

Some of the companies in the agrochemical market are Bayer CropScience, BASF SE, Agrium Inc, CF Industries Holdings, Inc., Bunge Limited, Monsanto Company, Syngenta AG., Sumitomo Chemical, among others. The major companies operating in the global Agrochemical market will eventually grab the opportunity presented by the new technology to further enhance their product offerings.

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