Agrochemicals Market Size, Share, Development, Growth and Demand Forecast to 2023

deepakkumarwts

Growth of horticulture & floriculture, increasing awareness towards the use of fertilizers and pesticides coupled with the increasing literacy rate among farmers in major crop producing countries is boosting the global agrochemicals market. One of the major drivers for the market is the growth of agrochemicals in demand for food grains, due to to increasing global population along with decreasing per capita farm land due to sudden rise in urbanization and industrialization.
Read summary of market report here : https://www.psmarketresearch.com/market-analysis/agrochemicals-market

GLOBAL INDUSTRY INSIGHT:

Agrochemicals Market Size, Share, Development, Growth and

Demand Forecast to 2023


Global Agrochemicals Market Size, Share, Development, Growth

and Demand Forecast to 2023

Growth of horticulture & floriculture, increasing awareness towards the use of fertilizers and pesticides

coupled with the increasing literacy rate among farmers in major crop producing countries is boosting

the global agrochemicals market. One of the major drivers for the market is the growth of

agrochemicals in demand for food grains, due to to increasing global population along with decreasing

per capita farm land due to sudden rise in urbanization and industrialization.

Agrochemical is a general term for the different kinds of chemical products used in agriculture. Agrochemicals

refer to the broad range of pesticides, including herbicides, fungicides, insecticides and nematicides.

Agrochemicals are specialty chemical products used, particularly in horticulture, agriculture and floriculture. It

includes broad range of pesticides, chemical growth agents, hormones and other synthetic fertilizers. It also

includes synthetic fertilizers, hormones and concentrated stores of raw animal manure.

For more information visit: https://www.psmarketresearch.com/market-analysis/agrochemicals-market

The global agrochemicals market can be categorised on the basis of product types into fertilizers and pesticides.

Based on different type of fertilizers, the global agrochemicals market can be divided into nitrogenous, potassic

and phosphatic fertilizers. On the basis of pesticides, the agrochemicals market can be classified into

neonicotinoides, bio-pesticides, organophosphates and pyrethroids pesticides. Organophosphate segment leads

the agrochemical pesticides market mainly due to presence of a wide spectrum of chemicals, including

glyphosate, diazinon, and chlorpyrifos.

The increasing research and development (R&D) in the field of bio-pesticides in order to compete with

organic farming and integrated pest management (IPM) is one of the most recent trends in the global

agrochemicals market. Increasing government programs to educate farmers and provide them with the

best possible methods to produce high quality crop yield, farms and livestock is another common trend

in the agrochemicals market. In various countries such as India, the government provides agricultural

subsidy in the form of financial aid to farmers to supplement their income and manage the supply of

agricultural commodities.

The huge export potential of agrochemicals is a major opportunity by which the agrochemical market is

expected to expand in the next few years. With approximately 40% of the total farmland under crop

production, there is a significant unserved market to tap into by various countries. By educating farmers

and conducting special training programmes regarding the need to use agrochemicals, Indian

companies can increase pesticide consumption. The excess production capacity is another opportunity

in the agrochemicals market to increase exports by making use of India’s low cost producer status.

© P&S Market Research. All rights reserved 2


Global Agrochemicals Market Size, Share, Development, Growth

and Demand Forecast to 2023

Request for Table of Content: https://www.psmarketresearch.com/enquiry-form.php?enqid=170&title=TOC

Growing acceptance of genetically modified seeds by the farmers, along with government initiatives towards

organic farming and integrated pest management (IPM) are some of the key challenges that are obstructing the

growth of agrochemicals industry. Genetically modified seeds have self-immunity towards naturally adverse

conditions which pose a challenge to the agrochemicals market. In several countries of Asia-Pacific, registration

of new products takes 3-5 years which discourages domestic manufacturers. Post-harvest losses of crops are

estimated at 690.62 USD every year. Supply chain inefficiency and inadequate infrastructure are the major

causes for such losses. Hence, longer period for registration of innovative products and high post-harvest losses

are some other factors which act as restraints for the agrochemicals market.

Some of the top competitors in the global agrochemicals market are Monsanto Company, Bayer AG, Syngenta,

BASF SE, Sumitomo Chemical Co., Ltd., Agrium Inc., The Dow Chemical Company, Yara, and ICL among others

Browse more reports on Chemical Materials and Energy: https://www.psmarketresearch.com/industry-

report/chemicals-materials-and-energy

About P&S Market Research

P&S Market Research is a global market research and consulting company. We provide market research reports,

industry reports, business intelligence and research based consulting services across a range of industries.

With the help of our professional corporate relations with various companies, our market research offers the most

accurate market forecasting. Our analysts and consultants interact with leading companies of the concerned

domain to substantiate every single data presented in our publication. Our research assists our client in identifying

new and different windows of opportunity and frame informed and customized strategies for expansion in different

regions.

Contact:

Ms Somya

Manager – Client Partner

347, 5th Ave. #1402

New York City, NY - 10016

Toll-free: +1-888-778-7886 (USA/Canada)

Email: enquiry@psmarketresearch.com

Web: https://www.psmarketresearch.com

© P&S Market Research. All rights reserved 3

More magazines by this user
Similar magazines