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Written by Joseph Finch » Updated on: July 07th, 2024
IMARC Group, a leading market research company, has recently released a report titled “Agrochemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2028.” The study provides a detailed analysis of the industry, including the global agrochemicals market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Agrochemicals Market?
The global agrochemicals market size reached US$ 277.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 347.3 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2024-2028.
What are Agrochemicals?
Agrochemicals, short for agricultural chemicals, are substances used to aid in the cultivation and protection of crops. They include a broad range of products, such as fertilizers, pesticides, herbicides, and insecticides. These chemicals are designed to enhance crop yield, maintain soil fertility, and control various pests and diseases that can adversely affect agricultural output. While they play a crucial role in modern farming, enabling higher productivity and more consistent quality, their use also raises concerns about environmental sustainability and public health. Excessive or improper application can lead to soil degradation, water pollution, and harmful residues in food.
Request For a Free PDF Sample Report: https://www.imarcgroup.com/agrochemicals-market/requestsample
What are the Growth Prospects and Trends in the Agrochemicals Industry?
Climate change represents one of the key factors driving the growth of the market across the globe. As extreme weather events become more frequent, crops are increasingly susceptible to pests and diseases. This scenario drives up the demand for effective pesticides and fungicides to protect yields and maintain the quality of produce. The ever-increasing global population is acting as a major growth-inducing factor. As the demand for food rises, there is an urgent need to improve crop yields to ensure food security. Agrochemicals, such as fertilizers and pesticides, enable farmers to meet this demand by boosting agricultural productivity. Technological advancements in the field of agrochemical formulations are also contributing to the market growth. Innovations like nano-fertilizers and precision agriculture techniques enable more targeted and efficient use of agrochemicals, which reduces waste and mitigates environmental impact which is fueling the growth of the market. In line with this, government policies, and global trade dynamics are some of the other factors creating a positive outlook for the market across the globe.
Who are the Key Players Operating in the Agrochemicals Market?
The competitive landscape of the industry has also been examined along with the profiles of the key players:
BASF SE
Bayer AG
Corteva Inc.
Dow Inc.FMC Corporation
Nufarm Ltd
Nutrien Ltd
Syngenta Group
The Archer-Daniels-Midland Company
Yara International ASA.
What is Included in Market Segmentation?
The report has categorized the market based on fertilizer type, pesticide type and crop type.
Breakup by Fertilizer Type:
Nitrogen Fertilizer
Phosphatic Fertilizer
Potassic Fertilizer
Others
Analysed by Pesticide Type:
Fungicides
Herbicides
Insecticides
Others
Based on Crop Type:
Cereals and Grains
Oilseeds and Pulses
Fruits and Vegetables
Others
Regional Analysis:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of The Report:
Market Performance (2017-2022)
Market Outlook (2024-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
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