Agrochemicals Market Growth Investment Pockets Showcase the Opportunity in Most Lucrative Product Segment, Globally by 2022

Agrochemicals market is expected to reach $276, 374 million by the end of 2022, registering a CAGR of 4.6%.

The global agrochemicals market is fueled by the high population and subsequent increase in the demand for food; soil degradation, limited agricultural land, and increase in awareness in the consumers regarding the benefits of agrochemicals. However, the pollution caused by synthetic agrochemicals is expected to hamper the market growth during the forecast period.

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The major factors driving the global agrochemicals market include high population and subsequent increase in the demand for food, soil degradation, limited agricultural land, and increase in awareness in the consumers regarding the benefits of agrochemicals. However, the market growth may be hampered by the potential harms of using synthetic pesticides such as 2, 4-D and atrazine herbicide. Agrochemicals when used in higher concentration result in surface water pollution and adversely affect the environment. Thus, the production of bio-based fertilizers and pesticides have created numerous opportunities for the key market players.

The fertilizers segment generated the maximum revenue and accounted for the highest volume share of the global agrochemicals market. This is attributed to the problems arising from high population and soil degradation. The major type of fertilizer used to enhance the crop productivity is nitrogenous fertilizers, accounting for around two-thirds of the total synthetic fertilizers market. Moreover, herbicides occupied over half of the synthetic pesticides market in 2015, and are expected to retain the share at the end of forecast period, growing at a CAGR of 4.6%.

Key Findings of the Agrochemicals Market Study

• Asia-Pacific dominated the global agrochemicals market in 2015, accounting for over half of the share, both in terms of revenue and volume.
• In 2015, fertilizers accounted for majority of the share of the global agrochemical market, and is expected to maintain its lead throughout the forecast period.
• India is the fastest growing segment in the Asia-Pacific market, expected to grow at a CAGR of 9.1% in terms of revenue, during 2016-2022.
• In 2015, the pesticides market accounted for one-fourth of the share in the North America agrochemicals market and is expected to occupy one-third share of the market at the end of forecast period.
• LAMEA is expected to grow at the fastest rate, registering a CAGR of 5.8%, throughout the forecast period.
• The bio-pesticides segment is anticipated to grow at a rate of 16.9% in terms of revenue, increasing its share in the global pesticides market.

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Top Winning Strategies

The key players operating in the agrochemicals market have adopted different key business strategies such as agreements, product launches, expansions, collaborations, partnerships, and patents to sustain the competition in the global market.

Geographically, the agrochemicals market is segmented across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest share of agrochemicals market, owing to high agricultural activities in this region. However, France is the largest market in Europe.

France Review

France accounted for the highest market share of agrochemicals in the European market in the year 2015. However, the country is expected to witness a slowdown in agrochemical sales over the forecast period owing to the stringent governmental regulations on use of synthetic pesticides.

Key players profiled in this report include Agrium Inc. (Canada), Bayer AG (Germany), BASF SE (Germany), Dow AgroSciences LLC (U.S.), E. I. du Pont Nemours and Company (U.S.), Monsanto Company (U.S.), Sumitomo Chemical Co. (Japan), Syngenta AG (Switzerland), The Mosaic Co. (U.S.), and Yara International ASA (Norway).

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