PLEASANTON CA, Oct. 19, 2021 (GLOBE NEWSWIRE) -- Latest research report on Agrochemicals Market Growth Analysis 2021-2027 by ResearchCMFE provides a detailed outlook of the market with brief information of industry drivers, restraints, opportunities, trends, and challenges.
The Global Agrochemicals Market was valued at USD 203.3 Bn in the base year 2020, and is projected to reach USD 275.9 Bn by 2027, with a CAGR of 4.6% during the forecast period (2021-2027).
The rapidly increasing world population has risen the demand for food production and consequently driving the growth in the agrochemicals market. According to World Bank, the world population increased from 6.9 Bn in 2010 and reached 7.7 Bn in 2020. Therefore, to meet the food requirements of such a rapidly growing population, agrochemical products are widely being deployed in the agricultural sector. In addition, agrochemical products offer several benefits in the agricultural sector which also increasing the agrochemicals industry growth. Agrochemicals provide high yield and improved yield quality to crop production. In addition, they help in reducing crop loss by providing crop protection in the agriculture sector. These benefits help in increasing crop production and consequently meet the surging global demand for agricultural produce.
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Global Agrochemicals Market Report Overview:
The research report covers all the necessary data regarding the market patterns of growth in the market and the factors driving this growth. This research report offers a detailed study of an important microscopic view of the industry to define the footprints of the major players like Bayer AG, Agrium Inc., BASF SE, E. I. du Pont Nemours and Company, Dow AgroSciences LLC, Sumitomo Chemical Co., Monsanto Company, Syngenta AG, The Mosaic Co., Yara International ASA, PotashCorp, FMC Corporation, Israel Chemicals Ltd., K+S AG, Uralkali, ADAMA Agricultural Solutions Ltd., Nufarm Ltd., IFFCO, SQM, American Vanguard Corporation, Haifa Group, Zuari Agro Chemicals Ltd., Gharda Chemicals Limited, Valent USA Corp., United Phosphorus, Ltd etc. he leading and dominant players in the global Agrochemicals Market are intrinsically analyzed based on key factors in the competition analysis part of the study. The report covers Leading Countries and analyzes the potential of the global Agrochemicals Market, providing statistical information about market dynamics, growth factors, major challenges, and market entry strategy analysis, opportunities, and forecasts. The biggest highlight of the report is to provide companies in the industry with a strategic analysis of the impact of COVID-19.
Key Market Segmentation of Agrochemicals Industry:
The segmentation of the Agrochemicals Market has been offered based on product type, end user, company profiles, and region. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the analysis.
Company Profiles and Competitive Intelligence Covered in Agrochemicals Market Report are:
- Bayer AG
- Agrium Inc.
- BASF SE
- I. du Pont Nemours and Company
- Dow AgroSciences LLC
- Sumitomo Chemical Co.
- Monsanto Company
- Syngenta AG
- The Mosaic Co.
- Yara International ASA
- PotashCorp
- FMC Corporation
- Israel Chemicals Ltd.
- K+S AG
- Uralkali
- ADAMA Agricultural Solutions Ltd.
- Nufarm Ltd.
- IFFCO
- SQM
- American Vanguard Corporation
- Haifa Group
- Zuari Agro Chemicals Ltd.
- Gharda Chemicals Limited
- Valent USA Corp.
- United Phosphorus, Ltd
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Global Agrochemicals Market by Product Type Outlook (Revenue, USD Billion, 2021-2027)
- Fertilizers
- Synthetic Fertilizers
- Phosphatic
- Potassic
- Biofertilizers
- Pesticides
- Insecticides
- Bio-Insecticides
- Herbicides
- Bio-Herbicides
- Fungicides
- Bio-Fungicides
- Others (Adjuvants, Plant Growth Regulators)
- Insecticides
Global Agrochemicals Market by Application Outlook (Revenue, USD Billion, 2021-2027)
- Crop Based
- Grains and Cereals
- Pulses and Oilseeds
- Fruits and Vegetables
- Non-Crop Based
- Turf and Ornamental Grass
- Other Non-crop based
Global Agrochemicals Market by Region Outlook (Revenue, USD Million, 2021-2027)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Regional Analysis of Agrochemicals Market:
Based on region, Asia-Pacific has dominated the agrochemicals market. This growth is majorly attributed to China and India which is the most populous country in the world. According to the World Bank, the population of these countries in 2020 stood at more than 1.4 billion and 1.3 billion respectively. Apart from this, other countries in the region including Japan, Indonesia, Singapore have also been experiencing a high population growth rate. The presence of such heavily populated nations in the region is increasing the need for food production. Therefore, to meet this high food demand, farmers in the region are increasingly using agrochemicals to improve crop yields and thereby positively impacting the agrochemicals industry growth. Additionally, the market is experiencing high growth due to the growing agro-based industries including textiles, sugar, animal husbandry, and vegetable oil manufacturing in many developing nations in the region.
Key Findings:
- Based on product type, fertilizers segment has dominated the agrochemicals market across the globe.
- Based on application, the crop-based segment has held the largest share in the agrochemicals industry.
- Based on region, the Asia-Pacific region has dominated the global agrochemicals market and is expected to hold constant position during the forecast period.
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Recent News, Developments, and investments in Agrochemicals Market:
- In June 2021, Coromandel International, a company that manufactures and markets a wide range of fertilizers announced the launch of six new products including 1 Herbicide, 1 Fungicide, and 4 Insecticide. With the launch of these products, the company aims at becoming a value-based solution provider to farmers and improving its portfolio in crop protection.
- In April 2020, Sumitomo Chemical, a major Japanese chemical company announced the acquisition of four South American subsidiaries of Nufarm. With this acquisition, the company plans to build its in-house sales system for crop protection chemicals in Latin America, including Brazil.
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