DublinAnd January 27 2022 /PRNewswire/ – Analysis Report “Agrochemicals Market Size, Share and Trends by Product (Fertilizers, Plant Growth Regulators), by Application (cereals, grains, fruits and vegetables), by Region, and Sector Forecast, 2021-2028” has been added to ResearchAndMarkets.com Show.
The global agrochemical market size is expected to reach USD 272.0 billion by 2028, registering a compound annual growth rate of 2.8%
The global market is mostly driven by the growing demand for crop protection products in the agricultural field all over the world. Approximately 25% of global crop production is lost each year due to disease and attacks by pests and weeds. Thus, agrochemicals play a vital role in enhancing crop yield and production.
Growing demand for food, increasing adoption of precision farming methods, shrinking arable land due to increasing population, rapid urbanization and industrialization across the globe are among the major factors driving the market.
Manufacturing companies mainly focus on acquisitions to enhance their product portfolios and global reach. For example, in October 2020the Syngenta Group through its Syngenta Crop Protection business division has acquired Valagro, a leading biological company.
This acquisition has helped Syngenta cement its position as one of the major global players in the rapidly growing biological materials market. in a December 2019, Biopreparaty, spol. s ro, a Czech company working in the field of biological plant protection products, and the European division of UPL has concluded an exclusive distribution agreement for Polyversum WP biological fungicides. Due to the COVID-19 outbreak, the domestic and international supply chain and global trade systems have been disrupted.
In response to concerns about food safety and food security around the world, various countries have imposed policy measures to reduce negative impacts on their agricultural markets. According to the Food and Agriculture Organization (FAO) and the Secretariat of the Committee on Commodity Problems (CCP), agricultural trade has proven resilient to the pandemic despite the turmoil.
Asia Pacific It is expected to grow at the fastest compound annual growth rate from 2021 to 2028, in terms of revenue, at the expense of increased production of agricultural commodities in countries, such as IndiaAnd ChinaAnd JapanAnd Australia. China It is one of the largest consumers, exporters and producers of pesticides in the world.
according to University of Melbourne And Zhejiang researcher Baojing JuAnd China It is the main agricultural user of pesticides in the world. It uses nearly 30% of global pesticides and fertilizers and provides more than 90% of global technical raw material requirements.
The major players in the market are adopting various strategies including acquisitions, mergers, geographic expansion and product portfolio expansion to consolidate their position in the market and increase their customer base. For example, in April 2020Sumitomo Chemical has completed the acquisition of four Nufarm subsidiaries in South America. This acquisition helped Sumitomo to strengthen its sales network of agrochemical products in South America.
Highlights of the Agrochemicals Market Report
- The fertilizer segment captured the largest share of revenue in 2020 due to its extensive consumption of fertilizers in the global agricultural sector to boost crop production.
- It also helps in providing nutrients to crops; Consequently, farmers incorporate different types of fertilizers, such as nitrogen fertilizers and diammonium phosphate, into their farming practices.
- Herbicides sub-segment captured a large market share in 2020. Herbicides are the most widely used pesticides in the world. It is mainly used to control weed formation in agricultural crops land
- According to the FAO, in 2019, the total consumption of herbicides amounted to more than two million tons, more than two times that of insecticides.
- Cereals and cereals applications segment led the market in 2020 due to higher production of cereals and cereals compared to other crops
- Moreover, the demand for these products is increasing all over the world due to the increasing population. Grains and grains cover the vast farmland, so the need for fertilizers and pesticides is more in this sector
Main topics covered:
Chapter 1. Methodology and Scope
1.1 Scientific Research Methods
1.2 Research scope and assumptions
1.3 Purchasing information
1.4 Information Analysis
1.5 Market formulation and data visualization
1.6 Data Validation and Dissemination
Chapter 2. Executive Summary
2.1. market forecast
2.2. sectoral outlook
2.3 Competitive Insights
Chapter 3. Agrochemicals Market Variables, Trends, and Scope
3.1 Forecasting market ratios
3.1.1. global chemical industry
3.2 Market segmentation and scope
3.3 Determining penetration and growth
3.4. Industry value chain analysis
3.5 Regulatory Framework
3.6 Technology Overview
3.7 Agrochemical Market Dynamics
3.7.1. Market Engine Analysis
3.7.2. Market Restrictions Analysis
3.8 Business Environment Analysis: Agrochemicals Market
3.8.1. Porter Industry Analysis
3.8.2. PESTEL تحليل Analysis
Chapter 4. Analysis of the Impact of COVID-19
4.1 Impact of COVID-19 on the global agrochemical market
Chapter 5. Agrochemical Market: Product Estimates and Trend Analysis
5.1 Agrochemicals Market: Product Movement Analysis, 2020 and 2028
5.3 Crop Protection Chemicals
5.4. plant growth regulators
Chapter 6. Agrochemicals Market: Application Estimates and Trend Analysis
6.1 Agrochemicals Market: Crop Movement Analysis, 2020 and 2028
6.2 Cereals and grains
6.3 Oilseeds and legumes
6.4 Fruits and vegetables
Chapter 7. Agrochemical Market: Regional Estimates and Trend Analysis
7.1 Regional Movement and Market Share Analysis, 2020 and 2028
Chapter 8. Agrochemical Market: A Competitive Analysis
8.1 Key players, recent developments and their impact on the industry
8.2 Key Transactions and Strategic Alliance Analysis
8.3 Landscape Salesman
8.4 Public companies
8.5 Private Companies
Chapter 9. Company Profiles
- BASF SE
- Bayer AG
- The Dow Chemical Company
- Solvay SA
- Croda International PLC
- Evonik Industries AG
- Clariant AG
- Huntsman International LLC
- Ashland Corporation
- Land O’ Lakes Inc.
- Helena Agri-Enterprises, LLC
- FMC Company
- Stepan Company
- ADAMA Ltd.
For more information on this report, visit https://www.researchandmarkets.com/r/3ot3dh
Research and Markets
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SOURCE Research & Markets