Agrochemical Industry Analysis and Foresight Report to 2027

Agrochemical Global Market - Overview
The Global Agrochemical Market is growing with the rapid pace; mainly due to its extensive application in the agriculture industry. According to a recent study report published by the Market Research Future, The global Agrochemical Market is booming and expected to gain prominence over the forecast period growing rapidly .The global Agrochemical market is forecasted to demonstrate a spectacular growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2027).

Agrochemicals as the name suggests has widespread use in the agriculture industry. Most of the applications of the agrochemicals revolve around agriculture. Agrochemical market is supported by strong growth drivers, the world population is growing at faster rate which leads to more consumptions of food eventually leading to more demand of agriculture industry and more the demand in the agriculture industry, more use of agriculture chemicals in the development of agriculture sector, in developing countries. Furthermore, there is low operation and labour cost hence it is easy for big players in the Agriculture business to setup their business in developing countries.

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Additionally, reducing per capita farm land attributed to the growing urbanization and industrialization is one of the most prominent factor that propels the market growth of Agrochemicals market. Moreover initiatives up taken by the governments to save earth or green earth movements worldwide along with the increasing horticulture is providing impetus to the market growth of Agrichemicals. Besides, growing awareness among farmers towards use of fertilizers and pesticides in key agricultural countries such as India and China is further boosting the global agrochemicals market. The increasing research and development activities in the fields of bio-pesticides in order to compete with organic farming and integrated pest management is one of the most recent trends in global agrochemicals market. However, increasing acceptance of genetically modified seeds by the farmers, coupled with governments’ initiatives towards integrated pest management (IPM) and organic farming are some of the prominent factors posing as restraints to the Agrichemical Market.

Agrochemicals are a wide range of pesticides, insecticides, herbicides fungicides and nematicides. Fertilizers are compounds or chemicals which are mostly used by farmers for agriculture to enhance the quality of the soil so as to boost production of food grains. On the other hand Herbicides are used to exterminate plants such as weed in the crop fields. Insecticides are chemicals which are sprayed on the plants in order to prevent pests from destroying the crops. Similarly to herbicides, Fungicide is a chemical which is widely used in order to kill fungus.

Agrochemical Global Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Agrochemical appears to be highly consolidated. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. International players who are increasingly expanding their footprint in the agricultural economy or in the growing market, making it difficult for regional vendors to compete with them, especially in terms of features such as quality, technology, and price.

Agrochemical Global Market - Regional Analysis
With farmer managing almost half of the land in Europe a major chunk of the GDP is contributed by the farmers. The demand for food in Europe is increasing every year thus forcing EU Common Agriculture Policy allocates half of its budget to the agricultural sector. This proves that Europe has huge potential to be one of the leading markets for agrochemicals. Europe contains markets like Spain, Germany, Italy, France, UK among others which are potentially the biggest markets in the EU. With the government spending almost half of its budget on the agricultural sector the agrochemical market in Europe is expected to boom due to increasing demand for food grains.

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Agriculture is one of the biggest industries in North America specifically in USA who is a net exporter of agricultural products. USA alone accounts for 2.2 million farms which covers an estimated area of 922 million acres. Canada is also another nation which was vast expands agricultural land. Technological development in the agricultural sector combined with high quality agricultural consumables is surely going to boost the demand and market for agrochemical industries. Heavy investment in development of new techniques and tools for agriculture is another factor which can lead to increase in demand of agrochemical products.

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This release was published on openPR.