Agrochemicals Market by Pesticide Type, Fertilizer Type, Crop Application and Region - Global Forecast to 2025
DUBLIN, March 25, 2021 /PRNewswire/ -- The "Agrochemicals Market by Pesticide Type (Herbicides, Insecticides, Fungicides), Fertilizer Type (Nitrogenous, Phosphatic, and Potassic), Crop Application (Cereals & Grains, Oilseeds, Fruits & Vegetables), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global agrochemical market size is estimated to grow from USD 208.6 billion in 2020 and is projected to reach USD 246.1 billion by 2025, at a CAGR of 3.4%, during the forecast period.
Factors such as continuous advancements in the technology used in agriculture have led to a shift in farming practices. Furthermore, with the course of time, with the advent of the era of globalization, liberalization, and privatization, the manufacturing and service industries became the forefront of employment for the masses and increasingly brought them into the fold of urbanization for livelihood and consumption. This shift required more land to be diverted from agriculture to other commercial and residential uses, and, as a result, it reduced more area from under the fold of agricultural and other related practices. Thus, this trend has increased the demand for more agrochemicals to produce more food in less land.
The market for herbicides is projected to grow at the highest CAGR between 2020 and 2025.
The herbicides segment is projected to be the fastest-growing market during the forecast period. Herbicides are used in fields to kill the wild plants, but they keep the crops unharmed. Apart from eliminating weeds, herbicide use reduces erosion, reduces fuel use, reduces greenhouse gas emissions, reduces nutrient runoff, and conserves water. Herbicides are one of the most extensively used crop protection chemicals. Herbicide use is increasingly being adopted around the world. Many developing countries (India, China, Bangladesh) are facing shortages of workers to hand weed fields as millions of people move from rural to urban areas.
In these countries, herbicides are far cheaper and more readily available than labor for hand weeding. History shows that in industrializing countries in the past, including the US, Germany, Japan, and South Korea, the same phenomenon occurred- as workers left agriculture, herbicides were adopted. It is inevitable that herbicide use will increase in sub-Saharan Africa, not only because millions of people are leaving rural areas, creating shortages of hand weeders, but also because of the need to increase crop yields.
The potassic fertilizer segment of fertilizer type is projected to grow at the highest CAGR between 2020 and 2025.
The potassic fertilizer segment is projected to grow at the highest rate during the forecast period. Potash contains soluble potassium, making it an excellent addition to agricultural fertilizers. Potassium is essential for plant health, and there must be an adequate supply in the soil to maintain good growth. When the potassium supply is limited, plants have reduced yields, poor quality, utilize water less efficiently, and are more susceptible to pest and disease damage.
In many parts of the world, agricultural soils are gradually becoming depleted of potash. Some soils were high in potassium when they were first cultivated long ago. However, after many years of intensive cropping and repeated nutrient removal during harvest, many fields now require regular potash inputs to maintain their productivity.
Fruits and vegetables segment is projected to grow at the highest CAGR between 2020 and 2025.
The fruits and vegetables segment is projected to grow at the highest rate during the forecast period. Fruits and vegetables have become an important part of a daily dietary plan, particularly with the increase in awareness regarding their nutritional value. The consumption of fruits has shown a significant increase in the past two decades, and this trend is projected to continue in the coming years. They are highly perishable in nature as compared to cereals and oilseeds; however, well-developed cold chain and refrigerated transport facilities have stimulated the trade as well as demand for fruits & vegetables. As the demand for fruits & vegetables is increasing, growers need to produce more in the limited amount of arable land, owing to which the application of nitrogenous fertilizers in fruits & vegetables is increasing. According to the FAO, China was the largest producer of fresh fruits & vegetables in 2018, surpassing the total production volume in the US and India.
Asia Pacific market for agrochemicals is projected to grow at the highest CAGR during the forecast period.
The agrochemicals market is estimated to grow significantly in the Asia Pacific region due to the rise in globalization of the agrochemical industry has a huge impact on the Asian crop protection markets. With the highest rate of population growth, increasing the need for food production, and economic growth, the demand for various agrochemicals such as herbicides and pesticides are increasing. While the demand for food products is increasing in the developing countries of Asia Pacific, the available land mass for agriculture is shrinking due to the increased effect of urbanization that propels farmers to use various agrochemicals to maintain soil health and increase land productivity.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Opportunities in the Agrochemicals Market
4.2 Agrochemicals Market, by Pesticide Type
4.3 Asia-Pacific: Agrochemicals Market, by Key Country and Crop Application
4.4 Agrochemicals Market, by Type and Region
4.5 Agrochemicals Market: Major Regional Submarkets
5 Market Overview
5.1 Introduction
5.2 Macroeconomic Indicators
5.2.1 Rising Food Demand - a Driving Force for Agri-Inputs
5.2.2 Climate Change Could Cause Proliferation of Pests
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Adoption of Agrochemicals in Developing Countries
5.3.1.2 Increased Reliance on the Use of Fertilizers for Productivity Enhancement
5.3.1.3 Shrinking Arable Land Area
5.3.2 Restraints
5.3.2.1 Stringent Regulations Governing the Production and Marketing of Agrochemical Products
5.3.2.2 Growth of the Organic Fertilizer Industry
5.3.3 Opportunities
5.3.3.1 Production of Sustainable Bio-Based Agricultural Products
5.3.4 Challenges
5.3.4.1 Fluctuating Market Demand and Supply Affecting the Raw Material Prices for Fertilizers and Pesticides
5.3.4.2 Intense Competition Between Players in the Market
5.4 COVID-19 Impact on the Agrochemicals Market
6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Patent Analysis
6.4 Market Ecosystem
6.5 Porter's Five Forces Analysis
6.5.1 Threat of New Entrants
6.5.2 Threat of Substitutes
6.5.3 Bargaining Power of Buyers
6.5.4 Bargaining Power of Suppliers
6.5.5 Intensity of Competitive Rivalry
6.6 Yc-Ycc Shift Analysis
6.7 Case Studies
6.7.1 Marrone Bio Innovations Conducting Field Trials for Use of Nutrient Technology in Conjunction with Biological Seed Treatment for Improved Crop Yield
6.7.1.1 Problem Statement
6.7.1.2 Solution Offered
6.7.1.3 Outcome
6.7.2 Bvt Inc. Has Developed Bee-Delivery Systems That Can Distribute Biopesticides That Can Shift the Way of Organic Crop Protection
6.7.2.1 Problem Statement
6.7.2.2 Solution Offered
6.7.2.3 Outcome
7 Agrochemicals Market, by Pesticide Type
7.1 Introduction
7.2 Insecticides
7.2.1 Increase in the Loss of Crops Driving the Market for Insecticides
7.2.2 Pricing Analysis
7.3 Herbicides
7.3.1 Reduction in Soil Erosion and Nutrient Run-Off Along with Weed Elimination Increasing the Demand for Herbicides
7.3.2 Pricing Analysis
7.4 Fungicides
7.4.1 The Preventative Nature of Fungicides Allows Farmers to Protect Crops During Early Growth Stages
7.4.2 Pricing Analysis
7.5 Other Pesticide Types
7.5.1 Increase in Demand for High-Value Crops Boosting the Demand for Pgr and Seed Treatment
8 Agrochemicals Market, by Fertilizer Type
8.1 Introduction
8.2 Nitrogenous Fertilizers
8.2.1 Pricing Analysis
8.2.2 Urea
8.2.2.1 Urea is the Cheapest Fertilizer That Provides Maximum Nitrogen Supply to the Crops
8.2.3 Ammonium Nitrate
8.2.3.1 The Immediately Available Nitrate Source for Plants Encourages Farmers to Use Ammonium Nitrate
8.2.4 Ammonium Sulphate
8.2.4.1 Ammonium Sulfate Fertilizers Are An Excellent Source of Sulfate, Sulfur, and Ammonium Nitrogen
8.2.5 Ammonia
8.2.5.1 Ammonia Has the Highest Content of Any Commercial Fertilizer, Making It a Popular Source Despite the Potential Hazard It Poses
8.2.6 Calcium Ammonium Nitrate
8.2.6.1 Safer Alternative to Conventional Ammonium Nitrate
8.2.7 Other Nitrogenous Fertilizers
8.3 Phosphatic Fertilizer
8.3.1 Pricing Analysis
8.3.2 Diammonium Phosphate (Dap)
8.3.2.1 Dap Has a Higher Nitrogen Content Than Map
8.3.3 Monoammonium Phosphate (Map)
8.3.3.1 Suitable as An Under-Root Fertilizer in Crops, with a High Phosphorus Content Requirement
8.3.4 Triple Superphosphate (Tsp)
8.3.4.1 High Demand for Tsp Because of the Presence of Water-Soluble Phosphate
8.3.5 Other Phosphatic Fertilizers
8.4 Potassic Fertilizer
8.4.1 Pricing Analysis
8.4.2 Potassium Chloride
8.4.2.1 Potassium Chloride is the Most Widely Applied K Fertilizer Because of Its Relatively Low Cost
8.4.3 Potassium Sulfate
8.4.3.1 Low Hygroscopicity and Chemical Stability Have Been the Key Factors in the Adoption of Potassium Sulfate
8.4.4 Other Potassic Fertilizers
9 Agrochemicals Market, by Crop Application
9.1 Introduction
9.2 Cereals & Grains
9.2.1 Nitrogenous Fertilizers Are Highly Used in the Production of Cereals and Grains
9.3 Oilseed & Pulses
9.3.1 Increase in the Production and Export of High-Value Oilseeds Like Soybean to Drive the Market for Agrochemicals
9.4 Fruits & Vegetables
9.4.1 Increase in the Consumption of Fruits & Vegetables
9.5 Other Crop Applications
10 Agrochemicals Market, by Region
10.1 Introduction
10.2 COVID-19 Impact on the Agrochemicals Market, by Region
10.3 North America
10.4 Europe
10.5 Asia-Pacific
10.6 South America
10.7 Rest of the World (Row)
11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis, 2019
11.3 COVID-19 Specific Company Response
11.4 Company Evaluation Quadrant: Definition & Methodology (Pesticides Market)
11.4.1 Star
11.4.2 Emerging Leaders
11.4.3 Pervasive
11.4.4 Participants
11.5 Company Evaluation Quadrant: Definition & Methodology (Fertilizers Market)
11.5.1 Star
11.5.2 Emerging Leaders
11.5.3 Pervasive
11.5.4 Participants
11.6 Product Footprint
11.7 Market Evaluation Framework
11.7.1 New Product Launches
11.7.2 Deals
12 Company Profiles
12.1 Key Players
12.1.1 Bayer
12.1.2 Basf SE
12.1.3 Syngenta AG
12.1.4 UPL
12.1.5 Compass Minerals
12.1.6 Eurochem Group
12.1.7 OCP Group
12.1.8 K+S Aktiengesellschaft
12.1.9 Sociedad Quimica Y Minera De Chile
12.1.10 Sumitomo Chemicals
12.1.11 Adama Ltd
12.1.12 Nufarm
12.1.13 Nutrien Ltd
12.1.14 Yara International Asa
12.1.15 ICL
12.1.16 Corteva Inc.
12.2 Other Players
12.2.1 Marrone Bio Innovations, Inc.
12.2.2 The Mosaic Company
12.2.3 CF Industries Holdings, Inc.
12.2.4 OCI Nitrogen
12.2.5 FMC Corporation
12.2.6 Nippon Soda Co. Ltd.
12.2.7 Isagro Spa
12.2.8 Nissan Chemicals Industries Ltd.
13 Appendix
13.1 Discussion Guide
13.2 Knowledge Store: Subscription Portal
13.3 Available Customizations
13.4 Related Reports
13.5 Author Details
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