Allied Market Research

Agrochemicals Market by Type (Fertilizers and Pesticides) - Global Opportunity Analysis and Industry Forecast, 2014-2022

Report on the global agrochemicals market, published by Allied Market Research, highlights that the global market is estimated to reach $276,374 million by 2022, growing a CAGR of 4.6% from 2016 to 2022. Asia-Pacific region contributed to more than half of the market share in the global agrochemicals market in 2015, and is estimated to dominate during the forecast period.

 

Portland, OR -- (SBWIRE) -- 08/30/2017 -- The major driving factors of the global agrochemicals market are high population & subsequent increase in the demand for food, limited agricultural land, soil degradation, and rise in awareness in the consumers about benefits of agrochemicals. However, the market growth would be limited by the potential harms done using synthetic pesticides such as 2, 4-D and atrazine herbicide. The use of agrochemicals in higher concentration result in surface water pollution and poses adverse effects on the environment. Thus, manufacturing of bio-based pesticides and fertilizers has presented various opportunities for the key market players.

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The fertilizers segment generated the highest revenue and contributed for the largest volume share of the global agrochemicals market. This is attributed to the problems arising due to soil degradation and high population. The major type of fertilizer used to increase productivity of crops is nitrogenous fertilizers, which contributed for two-thirds of the total synthetic fertilizers market. Moreover, herbicides contributed to over half of the synthetic pesticides market in 2015, and would maintain its position during the forecast period, registering a CAGR of 4.6%.

Key Findings of the Study:

Asia-Pacific dominated the global agrochemicals market in 2015, accounting for over half of the share, both in terms of revenue and volume.

In 2015, fertilizers accounted for majority of the share of the global agrochemical market, and is expected to maintain its lead throughout the forecast period.

India is the fastest growing segment in the Asia-Pacific market, expected to grow at a CAGR of 9.1% in terms of revenue, during 2016-2022.

In 2015, the pesticides market accounted for one-fourth of the share in the North America agrochemicals market and is expected to occupy one-third share of the market at the end of forecast period.

LAMEA is expected to grow at the fastest rate, registering a CAGR of 5.8%, throughout the forecast period.

The bio-pesticides segment is anticipated to grow at a rate of 16.9% in terms of revenue, increasing its share in the global pesticides market.

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Asia-Pacific dominated the global agrochemical market in 2015 with more than half of the total market share, in terms of revenue and volume. This attributed to the high percentage of land available for agricultural activities along with large extent of agricultural activities carried out in highly populated countries such as China, India, and others. The high population in these regions would increase the demand for food crops, which in turn, will contribute to the growth of agrochemicals market.

The key players of the agrochemicals market profiled in this report are Agrium Inc., BASF SE, Bayer AG, E. I. du Pont Nemours and Company, Dow AgroSciences LLC, Sumitomo Chemical Co., Monsanto Company, The Mosaic Co., Syngenta AG, and Yara International ASA.