agrochemicals market was valued at USD 209.4 billion in 2021 is expected to reach the value of USD 302.38 billion by 2029

PUNE, MAHARASHTRA, INDIA, June 22, 2022 /EINPresswire.com/ -- Global Agrochemicals Market, By Crop Type (Cereals, Pulses and Oilseeds, Fruits and Vegetables, Lawns and Turfs, Others), Mode of Application (Foliar, Fertigation, Others), Form (Paints and Coatings, Pesticides, Chemicals, Gasoline, Printing, Rubber and Leather), Type (Fertilizers, Pesticides) – Industry Trends and Forecast to 2029

Agrochemicals Market research report provides the best answers to many critical business questions and challenges. Additionally, the data, facts, and figures collected to generate this market report are obtained from trustworthy sources such as websites, journals, mergers, newspapers, and other authentic sources. The report has a very extensive scope that includes market scenarios, comparative pricing between major players, and the cost and profit of the specified market regions. To execute the market research study; competent and advanced tools and techniques viz SWOT analysis and Porter’s Five Forces Analysis have been employed. An all inclusive A market research report delivers an all-inclusive analysis of the market structure along with forecast of the diverse segments and sub-segments of the market. The report represents all-inclusive professional study of the industry which focuses on primary and secondary drivers, market share, competitor analysis, leading segments and geographical analysis.

LEADING PLAYERS of Global Agrochemicals Market

Bayer AG (Germany)
BASF SE (Germany)
Yara (Norway)
Compass Minerals (US)
Syngenta Crop Protection AG (Switzerland)
ADAMA (Israel)
Sumitomo Chemicals Co. Ltd. (Japan)
Nufarm (Australia)
UPL (India)
K+S Aktiengesellschaft (Germany)
ICL (Israel)

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COVID-19 Impact on Agrochemicals Market

COVID-19 has had an impact on agrochemical production and supply. The global pandemic has had an impact on several industries around the world, including the agrochemicals market. A short-term labour scarcity and distribution bottlenecks caused a considerable disparity between the number of personnel necessary for pesticide production and those available in terms of supply. Crop production has also decreased due to a lack of laborers in large-scale plantations, reducing demand for agrochemicals during the pandemic.

Recent Development

Timeline^® FX, an advanced cross-spectrum spring foliar herbicide for cereals, was introduced by Adama in February 2022. The product is designed with three Active Ingredients with complementary modes of action and a built-in adjuvant to provide growers with the broadest application window of any herbicide for controlling broadleaf and grass weeds in cereal crops.

Yara and Lantmännen signed a commercial agreement in January 2022 to bring fossil-free fertilizers to market. The companies' collaboration resulted in a commercial contract for green fertilizers manufactured by Yara and marketed by Lantmännen in Sweden beginning in 2023.

Market Scenario of Global Agrochemicals Market

Data Bridge Market Research analyses that the agrochemicals market was valued at USD 209.4 billion in 2021 is expected to reach the value of USD 302.38 billion by 2029, at a CAGR of 4.70% during the forecast period of 2022 to 2029. Agrochemicals are chemical or biological formulations that have been engineered to improve crop quality and yield. Fertilizers and pesticides are two types of agrochemicals. Fertilizers enhance the quality of crop by providing essential nutrients to the crop and soil, whereas pesticides protect crops by controlling, killing, or repelling pests and weeds that can harm the crop. Given the current global population scenario, increasing crop production within the existing arable land is critical to feed the world's population.

Agrochemicals are specialized chemicals and compounds that are used to protect and improve the quality of agricultural products. They are used in commercial plantation agricultural fields and units to protect produce from pests, weeds, and fungi while also increasing yield. Nitrogen, and potassic fertilizers, insecticides, herbicides, fungicides, rodenticides, phosphatic,molluscicides, nematicides, and pesticides are the most commonly used agrochemicals.

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Agrochemicals Market Dynamics

Drivers
Rising greenhouse vegetable production

Increasing greenhouse vegetable production, a scarcity of arable land, rising levels of investment in research and development activities, and the ease with which agrochemicals can be used are some of the factors that will likely boost the growing of the agrochemicals market

Rapid product innovations and developments

Other growth-inducing factors include product innovations such as the development of sustainable bio-based agrochemicals. Compared to conventional synthetic chemicals, these alternatives are more environmentally friendly, efficient, and cost-effective. In line with this, the growing preference for natural food products among the general public also contributes to an rise in the demand for agrochemicals.

Other growth-inducing factors include product innovations such as the development of sustainable bio-based agrochemicals. Compared to conventional synthetic chemicals, these alternatives are more environmentally friendly, efficient, and cost-effective. In line with this, the growing preference for natural food products among the general public also contributes to an increase in the demand for agrochemicals.

Opportunity

The harmful elements in chemical agricultural products produce such high amounts of pollution that they have serious and, in many cases, lethal impacts on the ecosystem. Bio-based agrochemicals are being developed as viable replacements to synthetic chemicals in a number of applications as consumer awareness of environmentally friendly and sustainable products grows.

Restraints

The agrochemicals market is highly split, with a significant number of large and small firms. The bulk of market participants are based in Europe and offer a diverse range of items with the growing demand for agrochemical products, the market's leading players are focusing on R&D investments in order to produce goods that meet the needs of customers.

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Global Agrochemicals Market Scope

The agrochemicals market is segmented on the basis of crop type, mode of application, form, and type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Crop Type

Cereals
Pulses and oilseeds
Fruits and vegetables
Lawns and turfs
Others
On the basis of crop type, the agrochemicals market is segmented into cereals, pulses and oilseeds, fruits and vegetables, lawns and turfs, and others.

Mode of Application

Foliar
Fertigation
Others

Based on mode of application, the agrochemicals market is segmented into foliar, fertigation, and others.

Form

Paints and coatings
Pesticides
Chemicals
Gasoline
Printing
Rubber
Leather

Based on the form, the agrochemicals market is segmented into paints and coatings, pesticides, chemicals, gasoline, printing, rubber and leather.

Type

Pesticides
Fertilisers

Based on the type, the agrochemicals market is segmented pesticides and fertilizers.

Key questions answered in this report – Global Agrochemicals Market Data Survey Report

What will be the market size and the growth rate?

What are the key factors driving the Global Agrochemicals Market?

Who are the key market players and what are their strategies in the Global Agrochemicals Market?

What are the key market trends impacting the growth of the Global Agrochemicals Market?

What trends, challenges and barriers are influencing its growth into Global Agrochemicals Market?

What are the market opportunities and threats faced by the vendors in the Global Agrochemicals Market?

What are the key outcomes of the five forces analysis of the Global Agrochemicals Market market?

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