Agrochemicals Market Research, Size, Share, Gross Margin, Key Players Review, Trend, Industry Analysis 2023

Market Overview:

Agricultural ecosystems are heavily dependent on agrochemicals to manage the soil quality and their yields. Market focused reports related to the agriculture sector among others recently have been made available by Market Research Future which publishes reports on this market. The industry is estimated to show a positive level of growth while achieving high levels of revenue in the forecast period.

With the level of importance placed on maintaining soil quality to ensure good quality and high yields have contributed to the development of the market. In this market, the nitrogenous fertilizers segment are expected to further boost the development of the market in the duration of the forecast period. Rising awareness for sustainable agriculture along with the rising population and climate change trends globally have boosted the scope of development of the market favorably. Increased need to meet food requirements is expected to transform the market significantly over the forecast period.

Leading Key Players Analysis:

The intensifying levels of diversification in the industry, have enabled the companies to apply many opportunities available in the industry. The competency to fuel competitive abilities is one of the principal causes powering their efforts in this period. Moreover, the competitors are handling the competitive environment by driving the market growth factors to their advantage. The firms in this market are adjusting to the state of events by executing portfolio upgrades and preserving financial liquidity. The prospects for development in the industry appears to be favorable through the forecast period. The market contenders are planning their blueprints for corporate strategy in a way can bring about the best results for development in the current scenario, while also parallelly enhancing their product’s value. The market value has been enhanced significantly by the constant delivery of customer value.

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Bayer CropScience Limited (Germany), Syngenta AG (Switzerland), BASF SE (Germany), Arysta LifeScience Corporation (Japan), The Dow Chemical Company (the U.S.), The Mosaic Company (the U.S.), Adama Agricultural Solutions Ltd (Israel), Nufarm Limited (Australia), Monsanto Company (the U.S.), and Crystal Crop Protection Pvt. Ltd. (India) among others are a few of the noteworthy competitors who are part of the agrochemicals market globally.

Industry News:

April 2018 Bayer AG’s request to sell its seed, pesticide and agricultural technology assets has been approved recently by the European Commission. The request to sell their technology assets to their competitor BASF SE to dispel antitrust concerns over its proposed $62 billion acquisition of agrochemical company Monsanto Co. Earlier, Bayer had received conditional approval of the deal in March after the company provided new commitments where it settled to divest its seed treatment products and assets to BASF, contrasting with Monsanto’s seed treatment assets, and its digital agriculture assets and products globally.

Regional Analysis:

The regional analysis of the Agrochemcials Market comprises of regions like Asia Pacific, Latin America, Europe, North America, and the Middle East & Africa. The Asia Pacific controls the main share in the market among the regions being studied. The developing economies of these countries of this region, which include India and China, are widely exposed to farming and agro-based industries. The food grain market is the major segment for this region. Moreover, India & China are the largest importers and exporters in this region. Due to the majority of the global population in the Asia Pacific region and changing diet patterns are the key factors for this market’s growth rate. It is also expected that the demand for food grains in this region are among the major drivers for the agro based chemical market growth in the forecast period.

The Middle East & African region has emerged as the foremost market region for Agrochemicals followed by North America and Europe. The North American market is expected to observe tremendous development on account of high consumption of bio-pesticides, growing food demand, and awareness of eco-friendly pesticides. In the North American region, the U.S. is expected to be the main contributor in the regional growth of the market and is likely to see a significant demand surge for bio-pesticides during the forecast period, In Europe, the demand for Agrochemicals is projected to grow. The countries such as Argentina, Colombia, and Brazil in Latin America are also expected to observe substantial growth due to growing demand for food supply to growing population as well as the development of new technologies and bio-pesticides awareness in the market.

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Segments:

The Agrochemicals Market globally is segmented into the segments of type, product type and region. The type basis divides the market into pesticides and fertilizers. The segment based on fertilizers product type segments the market into nitrogenous, potassic and phosphatic. On the other hand, the pesticides product type segments the market into insecticides, fungicides, herbicides, and bio-pesticides. On the basis of crop type, the market is segmented into cash crops, food grains, plantation crops and horticulture crops.  The region wise segmentation of the market segments the market into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

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This release was published on openPR.