Agrochemicals Market – Market Overview
Agrochemicals belongs to group of speciality chemical which includes fertilizer, herbicides, fungicides, hormones and other growth agents in chemical synthesis. The basic function of agrochemicals is to protect the crop and improve quality of soil and crop. Agrochemicals also used acts as growth agent in plants. The growing need for processed food and advanced packaging technique has improved the food & beverage sector, thereby, increasing the demand for food grain, oilseeds and vegetables. This in turn drives the agrochemical market growth.
Agrochemicals used in fertilizers, plant growth regulators and crop protection chemicals are dominating in the market. This is attributed to increasing pest attacks on crops which results in loss of nutritional and quality of food crop. Fertilizer accounts for majority of share in global agrochemical market due to ongoing projects of increasing animal husbandry sector further generating demand for animal feed. Moreover, rising demand for micro-nutrient in crop plants has boosted the fertilizer demand in the global agrochemical market. Plant growth regulators are projected to grow at highest CAGR followed by crop protection chemicals. This plant growth regulator helps the crop to reduce harvesting time and enhance the growth of crops plants. Additionally, nitrogenous fertilizers are expected to grow significantly as its aid plant growth and most abundantly applied fertilizer found across the globe. These products improve the quality of soil and helps in nourishing nutritional value of food.
Agrochemicals are widely used in fruits & vegetables, cereals, food grains and oilseeds & pulses among others. The growing demand of food grains and oilseeds & pulses due to rich in nutrition content such as carbohydrates, proteins and fibers are expected to drive the product demand over the forecast period. Cereals segment witnessed rise in demand owing to huge spending by multinational players in brand building through emphasizing on nutritional content of products which in turn, has increased the penetration of agrochemicals. Pulses are on growth stage cycle owing to high rich protein content, which has increased the consumption in daily dietary products. All these factors are exoected o drive the global agrochemicals market.
Segmentation
The global agrochemicals market has been segmented based on type, mode of application, crop type, and region.
By type, the global agrochemical market has been classified as fertilizers, pesticides, and others. The pesticides segment is further segmented into herbicides, insecticides, fungicides, and others.
Based on mode of application, the global market has been classified as foliar, fertigation, and others.
The global agrochemicals market has also been segregated, on the basis of crop type, into cereals & grains, oilseed & pulses, fruits & vegetables, others.
The global agrochemical market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
Source: Secondary Sources and MRFR Analysis
Asia-Pacific dominated the global agrochemicals market in 2018 and is expected to maintain its dominance throughout the forecast period. The region is also expected to register the highest CAGR during the forecast period owing to the increasing demand for agricultural commodities such as fruits, vegetables, cereals, pulses, and others for both direct consumption and processing is a significant determinant contributing to the growth of the regional market. Agriculture is amongst the major sectors contributing significantly to the GDP growth of various nations.
Global Market, by Type
• Fertilizers
• Pesticides
• Herbicides
• Insecticides
• Fungicides
• Others
• Others
Global Market, by Mode of Application
• Foliar
• Fertigation
• Others
Global Market, by Crop type
• Cereals & Grains
• Oilseed & Pulses
• Fruits & Vegetables
• Others
Global Market, by Region
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o Spain
o UK
o Rest of Europe
• Asia-Pacific
o Japan
o China
o India
o Australia and New Zealand
o Rest of Asia-Pacific
• Rest of the World (RoW)
o South America
o Middle East
o Africa

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Key Players
BASF SE (Germany), FMC Corporation (United States), Dow Agrosciences LLC. (United States), Agrium Inc (Canada), Bayer Cropscience AG (Germany), Yara International ASA (United States), Israel Chemicals Ltd. (Israel), Syngenta AG (Switzerland), PotashCorp (Canada) and Uralkali (Russia) among others are some of the prominent players at the forefront of competition in the Global Agrochemicals Market and are profiled in MRFR Analysis.


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