2028 Agrochemicals Industry Report Growth Forecasts

Stratistics MRC's Global Agrochemicals Market value expected to reach $323.98 billion growing at a CAGR of 5.4% during 2020-2028.

Agrochemicals are the chemical substances which are used in the agricultural farmland to increase the deficiency of nutrient in the field or crop. Agrochemicals are used for preventing the deterioration of crops from insects and pest infestation and disease. Agrochemicals improve the quantity and the quality of farm products.
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Based on the application, the crop based segment is going to have lucrative growth during the forecast period owing to aggressive advertisements and branding from multinational players, which, in turn, has increased the penetration of agrochemicals. Various essential mineral supplementations through fertilizers increase rice crop yield and nutrient content in harvested grains. By geography, Asia Pacific is going to have high growth during the forecast period due to the urbanization, rapid income growth, and increasing need for food crops in the region has fueled the use of pesticides to enhance crop yield. The use of pesticides is becoming a common practice in India, China, and other less-developed countries in the region, leading to growth in areas where there had previously been very little or no pesticide usage.

Some of the key players profiled in the Agrochemicals Market include Yara International, UPL, Syngenta , Sumitomo Chemical, Nufarm, K+S Group, ICL Group Ltd, Compass Minerals, Bayer, BASF and Adama Ltd.
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