Agrochemicals Market Overview:
Agricultural ecosystems are heavily dependent on agrochemicals to manage the soil quality and their yields. Market focused reports related to the agriculture sector among others recently have been made available by Market Research Future which publishes reports on this market. The industry is estimated to show a positive level of growth while achieving high levels of revenue in the forecast period.
With the level of importance placed on maintaining soil quality to ensure good quality and high yields have contributed to the development of the market. In this market, the nitrogenous fertilizers segment is expected to further boost the development of the market in the duration of the forecast period. Rising awareness for sustainable agriculture along with the rising population and climate change trends globally have boosted the scope of development of the market favorably. Increased need to meet food requirements is expected to transform the market significantly over the forecast period.
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Agrochemicals Market Key Players:
Leading players in the agrochemicals market include;
• Crystal Protection Pvt Ltd (India)
• Arysta Life Science Corporation (Japan)
• Nufarm Limited (Australia)
• Adama Agricultural Solutions Ltd (Israel)
• Syngenta AG (Switzerland)
• Monsanto Company (US)
• BASF SE (Germany)
• The Dow Chemical Company (US)
• Bayer CropScience Limited (Germany)
• The Mosaic Company (US)
Mergers and acquisitions have taken the spotlight in the market as prime strategies for large shares. In 2018, ChemChina had acquired DuPont, Dow Chemical and Syngenta merged while Bayer continued the Monsanto acquisition process.
Agrochemicals Market Segmentation:
Market Research Future report provides a comprehensive segmental analysis of the global agrochemicals market on the basis of type and product type.
Based on type, this market is segmented into pesticides and fertilizers.
Based on fertilizers product type, this market is segmented into phosphatic, nitrogenous and potassic.
Based on pesticides product type, the agrochemicals market is segmented into bio-pesticides, herbicides, insecticides and fungicides. Of these, biopesticides market is likely to see a market growth as it produces minimal or no toxic residue which means little risk on human health.
Based on crop type, the agrochemicals market is segmented into horticulture crops, plantation crops, cash crops and food grains.
Agrochemicals Market Regional Analysis:
The market has been covered across major regions of the world, including North America, Latin America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC). Asia Pacific has emerged as a prominent market for agrochemicals in recent years. Increased focus on modernizing agricultural process coupled with the urgency to increase agricultural productivity has augured well for agrochemical suppliers in the region. India and China collectively represent more than one-third of the global population. This also indicates towards a noteworthy food demand in these countries.
The agricultural sector in India and china play a major role in driving their economy. APAC is expected to remain an attractive business destination for agrochemical suppliers during the forecast period. Meanwhile, the MEA agrochemical market is witnessing a healthy growth partly owing to the policies introduces by GCC countries to diversify the region’s economy. North America and Europe are the other two important market for agrochemicals. In near future, demand for bio-pesticides is expected to grow further in advanced countries such as the U.S., the U.K., Canada, France, Netherlands and Germany among others.
Agrochemicals Market Table of Content to be Continue…….,
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