The
global agrochemicals market is expected to
reach USD 308.92 billion by 2025, according to a new report by Grand View
Research, Inc. The growing demand for crop protection chemicals, such as
fungicides, herbicides, and insecticides, is expected to be the biggest driver
of the agrochemicals industry over the forecast period.
Shrinking arable land due
to rapid industrialization and population explosion has resulted in increased
use of agrochemicals, such as fertilizers and plant growth regulators, further
triggering the market growth. The growing demand for crops as animal fodder and
fiber in the textile industry has also provided the necessary boost to the
agrochemicals industry.
Fertilizers dominated the
agrochemicals market in 2016. Nitrogenous and phosphate fertilizers were most
widely used due to their easy availability and low prices. However, the new
trend of organic farming, which involves complete elimination of chemical-based
fertilizers, has increased the demand for biofertilizers.
The demand for
agrochemicals is expected to be the highest in Asia Pacific. The region is
known for its agro-based countries such as India, Sri Lanka, and China, which
are majorly dependent on agriculture and related industries for economic
growth.
Full research report on agrochemicals market analysis: http://www.grandviewresearch.com/industry-analysis/agrochemicals-market
Further key findings from the report suggest:
·
The
global agrochemicals market, in terms of value, was USD 215.18 billion in 2016
and is projected to reach USD 308.92 billion by 2025, growing at a CAGR of 4.1%
from 2017 to 2025
·
Fertilizers,
which accounted for 58.8% of the market in 2016, in terms of revenue, are
expected to witness growth on account of increasing pressure on agricultural
land to increase yield in a short time span
·
Crop
protection chemicals, in terms of revenue, are expected to grow at a CAGR of
5.5% from 2017 to 2025 due to rising occurrences of pest and rodent attacks
damaging crops
·
The
market for agrochemicals in cereals & grains was valued at USD 80.01
billion in 2016. The application segment is expected to grow owing to an
increase in the demand for whole grain products.
·
Oilseeds
& pulses, which are considered to have high protein content, are projected
to grow at the highest CAGR of 4.9%, in terms of value, from 2017 to 2025
·
The
market in Asia Pacific is expected to witness the highest growth over the
forecast period due to the growing agro-based industries including sugar,
textiles, vegetable oil manufacturing, and animal husbandry
·
Bayer
CropScience, Agrium, and Yara International were some of the key manufacturers
in 2016 with distribution facilities spread across all regions
View more reports of this category by Grand
View Research at: https://www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
Grand View Research has
segmented the global agrochemicals market on the basis of product, application,
and region:
Agrochemicals
Product Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)
·
Fertilizers
·
Crop
Protection Chemicals
·
Plant
Growth Regulators
·
Others
Agrochemicals
Application Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)
·
Cereals
& Grains
·
Oilseeds
& Pulses
·
Fruits
& Vegetables
·
Others
Agrochemicals
Regional Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)
·
North
America
o
U.S.
·
Europe
o
Germany
o
Spain
·
Asia
Pacific
o
China
o
India
·
Central
& South America
o
Brazil
·
Middle East &
Africa
Access
press release by Grand View Research: https://www.grandviewresearch.com/press-release/global-agrochemicals-market
About
Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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