Agrochemicals Market Growth, Trends And Forecast By 2023

Growth of horticulture & floriculture, increasing awareness towards the use of fertilizers and pesticides coupled with the increasing literacy rate among farmers in major crop producing countries is boosting the global agrochemicals market. One of the major drivers for the market is the growth of agrochemicals in demand for food grains, due to to increasing global population along with decreasing per capita farm land due to sudden rise in urbanization and industrialization.

Agrochemicals Market can be categorised on the basis of product types into fertilizers and pesticides. Based on different type of fertilizers, the global agrochemicals market can be divided into nitrogenous, potassic and phosphatic fertilizers. On the basis of pesticides, the agrochemicals market can be classified into neonicotinoides, bio-pesticides, organophosphates and pyrethroids pesticides.

Access Full Report: www.psmarketresearch.com/market-analysis/agrochemicals-market

Agrochemical is a general term for the different kinds of chemical products used in agriculture. Agrochemicals refer to the broad range of pesticides, including herbicides, fungicides, insecticides and nematicides. Agrochemicals are specialty chemical products used, particularly in horticulture, agriculture and floriculture. It includes broad range of pesticides, chemical growth agents, hormones and other synthetic fertilizers. The increasing research and development (R&D) in the field of bio-pesticides in order to compete with organic farming and integrated pest management (IPM) is one of the most recent trends in the global agrochemicals market.

Request For Sample Report: psmarketresearch.com/market-analysis/agrochemicals-market/report-sample

With approximately 40% of the total farmland under crop production, there is a significant unserved market to tap into by various countries. By educating farmers and conducting special training programmes regarding the need to use agrochemicals, Indian companies can increase pesticide consumption. The excess production capacity is another opportunity in the agrochemicals market to increase exports by making use of India’s low cost producer status.

Genetically modified seeds have self-immunity towards naturally adverse conditions which pose a challenge to the agrochemicals market. In several countries of Asia-Pacific, registration of new products takes 3-5 years which discourages domestic manufacturers. Post-harvest losses of crops are estimated at 690.62 USD every year. Supply chain inefficiency and inadequate infrastructure are the major causes for such losses. Some of the top competitors in the global agrochemicals market are Monsanto Company, Bayer AG, Syngenta, BASF SE, Sumitomo Chemical Co., Ltd.

About P&S Intelligence

P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:
P&S Intelligence

Toll-free: +1-888-778-7886 (USA/Canada)

International: +1-347-960-6455

Email: enquiry@psmarketresearch.com

Web: www.psmarketresearch.com

This release was published on openPR.