Agrochemicals Market sector poised for 6.2% CAGR growth US$ 123.83 Bn by 2031, says report | ADAMA Ltd., Arysta Life Science, Bayer AG

Market Overview:

Global agrochemicals market was valued at US$ 81.27 Bn in 2023, and is expected to reach a value of US$ 123.83 Bn by 2030 at a CAGR of 6.2% between 2023 and 2030.

Market Dynamics:

The agrochemicals market is anticipated to grow at a significant rate during the forecast period, owing to increasing agricultural production worldwide to feed the expanding global population. According to the UN Food and Agriculture Organization, global food production must be raised by over 70% by 2050 to meet the nutritional needs of an estimated 9.7 billion people. Furthermore, declining arable land and changing climate conditions are prompting farmers to boost per hectare crop yields through extensive use of agrochemicals such as fertilizers and pesticides. For instance, fertilizer consumption in developing countries is projected to grow by 2% annually over the next few years.

💎 Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/254?utm_source=openpr.com&utm_medium=referral

Growing Demand for Food Grains and Crops is Driving the Agrochemicals Market Forward

The rising population across the globe has increased the demand for food grains and crops significantly over the past few decades. As the arable land is limited and conventional farming practices can support only a certain level of crop yield, agrochemicals play a crucial role in maximizing crop production to meet the food demands. Pesticides, herbicides, and fertilizers are key agrochemicals that are extensively used by farmers to protect crops from pests and diseases and improve soil fertility for higher yields. This has propelled the sales volumes of agrochemicals globally. Additionally, as people's incomes are rising, their diets are shifting towards high-value crops such as fruits and vegetables that require heavy usage of agrochemicals. The growing cultivation of commercial and plantation crops is another factor augmenting agrochemical consumption. Overall, the pressing need to boost agricultural productivity to feed the rising population worldwide has made agrochemicals indispensable, driving substantial growth of this market.

Development of Biopesticides and Biologicals Present Lucrative Opportunities

The significant environmental and health costs of conventional chemical pesticides have boosted research on safer alternative crop protection solutions. Biopesticides, which contain microorganisms or naturally occurring substances that control pests, are gaining acceptance as a more sustainable replacement. Significant opportunities exist for agrochemical companies to diversify into biologicals produced from microbial fermentation or plant extracts. As they pose lower risks than chemical variants, the market for biopesticides is expected to expand substantially in the coming years. Similarly, demand is rising for biochemical and microbial products that enhance soil fertility and strengthen plant immunity instead of regularly applying fertilizers and pesticides. The growing emphasis on organic and environment-friendly farming globally is creating a favorable climate for such biological agrochemicals. Their development can help restore agricultural sustainability while also bringing new revenue streams for agrochemical manufacturers.

Precision Farming and Digital Agriculture to Transform Agrochemical Use Patterns

Rapid digitization is opening up opportunities to optimize agrochemical use through precision and site-specific application techniques. Advanced technologies such as GPS, GIS, VRT (variable-rate technology), sensors, and drones enable more precise quantification of field conditions and crop requirements. This facilitates applying agrochemicals only where and when needed, avoiding wastage and minimizing environmental spillage. Digital platforms also help farmers obtain real-time field data and recommendations for agrochemical dosage. The increased adoption of precision farming solutions, coupled with new digital tools, will facilitate prudent and targeted agrochemical usage. Meanwhile, technologies like bio effectors, nano-carriers, and smart delivery systems can enhance the efficacy of agrochemicals. Overall, digitization and smart agriculture are poised to transform traditional agrochemical application methods, positively impacting the industry.

💎 You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/254

Top Companies Featured in This Report:

★ ADAMA Ltd.
★ Arysta Life Science
★ Bayer AG
★ Isagro Spa
★ K+S Aktiengesellschaft
★ Nufarm
★ Nutrien Ltd
★ OCI Nitrogen
★ Sociedad Quimica Y Minera De Chile
★ The Mosaic Company among others

Market Segmentation:

By Product Type:

★ By Origin: Synthetic and Organic
★ By Product Type: Insecticides, Fungicides, Herbicides, and Others (Rodenticides, etc)
★ By Crop Type: Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others (Ornamental, etc.)

By Applications:

★ By Application: Foliar Treatment, Soil Treatment, Seed Treatment, and Others (Hydroponics, etc.)

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Key Inquiries Addressed in this Report include:

📈 What was the size of the Agrochemicals Market in 2024, and what is the projected value by 2031?

📈 What is the present global market landscape for the Agrochemicals Market?

📈 What strategies offer optimal opportunities for growth maximization in the business?

📈 What recent trends are shaping the Agrochemicals Market?

📈 How does the market share of Agrochemicals Market revenue, sales, and size vary across specific geographical regions?

📈 Who are the prominent industry players in the Agrochemicals Market?

📈 Which segment of the Agrochemicals Market is experiencing heightened demand?

The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Agrochemicals sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/254

Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

Contact Us

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Australia: +61-2-4786-0457
India: +91-848-285-0837

About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.