Agrochemicals Market Expected to Achieve 8.4% CAGR by 2029: Growth Forecast Insights

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How Large Will the Agrochemicals Market Size By 2025?
The size of the agrochemicals market has seen a considerable expansion in the last few years. The market is projected to increase from $287.85 billion in 2024 to $308.21 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. Factors contributing to the growth during the historic period include population growth, pest and disease pressure, regulatory influences, and farming methods.

How Big Is the Agrochemicals Market Size Expected to Grow by 2029?
Over the coming years, the agrochemicals market size is set to experience significant expansion, predicted to reach $425.13 billion in 2029, with a compound annual growth rate (CAGR) of 8.4%. Factors contributing to this anticipated growth during the forecast period include changes in climate, the rise of sustainable and precision agriculture, emerging markets, and improved resistance management. Noteworthy trends for this period include advancements in technology, the inclusion of digitalization and data analytics, innovation in crop protection, market consolidation, and developments in the organic and non-GMO sectors, as well as in biotechnology and genetic engineering.

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Which Key Market Drivers Powering Agrochemicals Market Expansion and Growth?
The agrochemicals market is anticipated to expand as the growth in population indirectly prompts an increase in the demand for food. Food, which comprises proteins, carbohydrates, fats, and other essential nutrients, plays a crucial role in nurturing an organism's growth, enabling vital processes, and providing energy. There is a direct correlation between the growth surge in population and the increase in demand for food, which in turn contributes to the upward trend in the agrochemicals market. For instance, as per the United Nations, a US headquartered inter-governance body, the global population is all set to witness an increase of around 2 billion over the next three decades. This will result in a surge from 8 billion currently to approximately 9.7 billion by 2050. Parallelly, Intechnopen, a UK-based book and journal publisher, predicts a potential 70% upswing in the worldwide food demand by 2050. Thus, the population increment along with the consequent amplified demand for food will potentially be a significant propellant for the home infusion therapy market's growth.

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Which Fast-Growing Trends Are Poised to Disrupt the Agrochemicals Market?
Strategic alliances and partnerships are becoming increasingly prominent trends in the agrochemical market. Major firms in the sector are leveraging partnerships to reinforce their market position. For example, Aarti Industries Limited, a specialty chemicals company based in India, teamed up with UPL Limited, another Indian agrochemical company, in May 2024 to manufacture and market specialty chemicals. The collaboration emphasized on producing and selling specialty chemical intermediates, especially amines' downstream derivatives used in the agrochemicals and paint sectors. The ultimate aim of the partnership is to amalgamate both companies' strengths, augment India's chemical manufacturing prowess, and bolster India's aspiration for global self-sufficiency in specialty chemicals.

What Are the Emerging Segments in the Agrochemicals Market?
The agrochemicals market covered in this report is segmented -

1) By Fertilizer Type: Nitrogen Fertilizer, Phosphatic Fertilizer, Potassic Fertilizer, Other Fertilizer Types
2) By Pesticide Type: Fungicides, Herbicides, Insecticides, Other Pesticide Types
3) By Application: Crop Based, Non-Crop Based

Subsegments:
1) By Nitrogen Fertilizer: Urea, Ammonium Nitrate, Calcium Ammonium Nitrate, Ammonium Sulfate, Other Nitrogen Sources
2) By Phosphatic Fertilizer: Diammonium Phosphate (DAP), Monoammonium Phosphate (MAP), Superphosphate (Single And Triple), Rock Phosphate
3) By Potassic Fertilizer: Muriate Of Potash (KCl), Sulfate Of Potash (K2SO4), Potassium Nitrate
4) By Other Fertilizer Types: Micronutrient Fertilizers, Organic Fertilizers, Slow-Release Fertilizers, Specialty Fertilizers

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Who Are the Global Leaders in the Agrochemicals Market?
Major companies operating in the agrochemicals market include Adama Agricultural Solutions Ltd., Agrium Inc., BASF SE, Bayer AG, Yara International ASA, The Mosaic Company, Israel Chemicals Ltd., FMC Corporation, E. I. du Pont Nemours and Company, Monsanto Company, Dow AgroSciences LLC, Land O' Lakes Inc, Sumitomo Chemical Co Ltd, Zuari Agro Chemicals Ltd, Gharda Chemicals Limited, Nutrien Ag Solutions Limited, UPL Limited, Nufarm Limited, Corteva Agriscience Inc., Dhanuka Agritech Limited, Gowan Company LLC, Nissan Chemical Corporation, Isagro S. p. A., Rallis India Limited, Crystal Crop Protection Pvt. Ltd., Sinochem Group, Wynca Chemical Group Co. Ltd., Kumiai Chemical Industry Co. Ltd., PI Industries Limited, Indofil Industries Limited, Sipcam Oxon S. p. A., Hubei Sanonda Co. Ltd., Excel Crop Care Limited, Insecticides Limited, Redox Industries Limited, Jiangsu Agrochem Laboratory Co. Ltd., Sulphur Mills Limited

Which are the Top Profitable Regional Markets for the Agrochemicals Industry?
North America was the largest region in the agrochemicals market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the agrochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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