LONDON, Oct. 14, 2015 /PRNewswire/ -- The agrochemicals market in United Kingdom is estimated to grow at a CAGR of 3.2% during 2015-2020. Fertilizers and pesticides form the major part of global agrochemical consumption. While fertilizers include various macro nutrient and micronutrient based products, pesticides can be further divided into insecticide, herbicide and fungicide etc. Europe is a significant market for agrochemicals consumption as the region is one of the fastest growing exporters of food grains. Agrochemicals are an integral part of United Kingdom's agriculture sector and play an important role in boosting production and productivity.
Increasing need of food safety with significant government support helps the country for more use of agrochemicals. While the benefit of agrochemicals is commendable and people are getting aware of it, the toxicity of synthetic products forms the major challenge for this industry. International trade restrictions also form drawbacks for the industry as the country is an export oriented market. Integrated approach in the agricultural field may provide scope for future growth opportunities. The agrochemical industry is segmented product wise and crop wise. Pesticides market is currently lead by herbicides products followed by fungicides and insecticides. The use of agrochemicals in the region is mainly used for food application. Plant growth regulators and adjuvants are the two segments that show high future potential.
UK is one of the important consumption points for agrochemicals and is expected to show average growth because of market maturity and regulatory constraints.
The key players profiled in the report include Certis UK, Syngenta, Bayer, Yara International ASA, MakhteshimAgan Industries Ltd, Dow Agro, BASF, Headland agrochemicals among others. The key strategies being adopted in this market are new product launches and product registrations in the bio pesticides segment. The opportunities in this country are governments encouraging companies to voluntarily work towards sustainable pest management practices through innovations in the Biopesticides segment. Though the country has many regional and local players, merger and acquisitions and new product development are the key strategies followed by the major companies here to beat competition.
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