Global Agrochemicals Market industry size, business development, forecast by 2029

shital chaudhari

The global Agrochemicals Market is expected to achieve a market value of US$ 272.57 billion by 2029, rising from US$ 215.69 billion in 2022. This growth is projected at a CAGR of 3.4% during the forecast period.

Market Overview

As of the most recent Agrochemicals Market update, the global economic landscape reflects a dynamic interplay of various factors. Major financial markets continue to navigate the aftermath of the unprecedented events that unfolded in recent years, such as the global pandemic and geopolitical shifts. Equities have demonstrated resilience amid ongoing uncertainties, propelled by technological advancements, innovation, and accommodative monetary policies. However, challenges persist, including inflationary pressures, supply chain disruptions, and regulatory changes in various sectors. Investors are closely monitoring central bank decisions, fiscal policies, and emerging trends to assess potential opportunities and risks. The market’s response to evolving conditions underscores the importance of adaptability and strategic planning for both businesses and investors in this complex and ever-changing environment.

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Report Scope:

The report provides a comprehensive analysis of the Agrochemicals Market, including market dynamics, segmentation, regional insights, and key drivers and restraints. The study aims to offer valuable insights for investors, industry participants, and stakeholders.

Research Methodology:

The research methodology employed in this report ensures robust and reliable findings. A detailed analysis of market trends, competitive benchmarking, and evaluation of key players is conducted. Past and current industry status, along with forecasted market size and trends, are presented.

Drivers and Restraints:

Agricultural productivity is a crucial metric, driving the increased adoption of agrochemicals. The global population growth, rising food consumption, and government support through subsidies contribute to the growth of the agrochemicals market. However, environmental concerns related to synthetic chemicals act as a restraint.

Segmentation: Enterprise Size:

The herbicides segment leads the market, with a market value of US$  billion in 2022 and a CAGR of 5%. It is expected to reach US$  billion by 2029. The use of herbicides is growing globally, especially in regions facing labor shortages in hand weeding.

by Fertilizer Type

Nitrogen fertilizer
Phosphatic Fertilizer
Potassic Fertlizer

by Enterprise Size

Fungicides
Herbicides
Insecticides
Others

by Crop Type

Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
Others

Crop Type:

The cereals & grains segment is anticipated to grow at the fastest rate of almost 4.98% during the forecast period. Aggressive branding and advertising by multinational firms are contributing to increased agrochemical penetration. The oilseeds and pulses segment is expected to reach US$ xx billion by 2029 due to heightened demand for edible oil.

Regional Insights:

In the Asia-Pacific (APAC) region, the agrochemicals market was worth US$ xx billion in 2022, with a projected CAGR of xx percent from 2022 to 2029. Emerging agro-based businesses in textiles, sugar, animal husbandry, and vegetable oil manufacturing are key drivers in this region.

Market Key Players

1. ADAMA LTD
2. BAYER
3. BASF SE
4. SYNGENTA AG
5. UPL
6. COMPASS MINERALS
7. EUROCHEM GROUP
8. OCP GROUP
9. K+S AKTIENGESELLSCHAFT
10.SOCIEDAD QUÍMICA Y MINERA DE CHILE
11.SUMITOMO CHEMICALS
12.NUFARM
13.NUTRIEN LTD
14.YARA INTERNATIONAL ASA
15.ICL
16.CORTEVA INC.
17.THE MOSAIC COMPANY
18.OCI NITROGEN
19.NISSAN CHEMICALS INDUSTRIES LTD.
20.NIPPON SODA CO., LTD.

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Key questions answered in the Agrochemicals Market report include:

What is Agrochemicals?
What factors drive Agrochemicals Market growth?
What are the main challenges for Agrochemicals Market growth?
What was the Agrochemicals market size in 2023?
Which trends are expected to contribute to Agrochemicals market growth?
What recent industry trends can generate additional revenue streams for the Agrochemicals Market?
What growth strategies are players considering to increase their foothold in the Agrochemicals Market?
Who held the largest market share in the Agrochemicals Market?

Key Offerings:

Past Market Size and Competitive Landscape (2021 to 2023)
Past Pricing and price curve by region (2021 to 2023)
Market Size, Share, Size & Forecast by different segment | 2023−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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