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The Global Agrochemicals Market is segmented by Type (Fertilizer Market, Pesticides Market, Adjuvants Market, Plant Growth Regulators Market), Application (Crop-based, Non-crop-based), and Geography.
2016 - 2026
Fastest Growing Market:
The Global Agrochemicals Market is projected to register a CAGR of 4% during the forecast period(2020-2025). The rising population across the world, accompanied by rising affluence, is seeing a shift in consumption patterns. There is a need to not just increase production to meet demand but also to ensure that the nutritional needs of an increasingly affluent population are met. Shrinking arable land and loss of crops due to pest attacks lead to wastage, posing a critical challenge to ensuring food and nutritional security. The agrochemical market is an important agriculture support industry, which boosts the agriculture output. There is an increasing need to balance the judicious use of the best chemicals and minimizing the impact of that use. Regulation plays an important role in this sector. Asia-Pacific dominates the market while North America is anticipated to be the fastest-growing market. Price premiums and innovative eco-friendly production methods are emerging steadily in the agrochemical market.
The agrochemicals market is competitive with major players including Bayer CropScience, Adama Agricultural Solutions, Yara International ASA, BASF SE, Corteva Agriscience and Nufarm accounted for the majority of the share in the global market.
Agrochemicals are used for preventing the deterioration of crops from insects and pest infestation and disease. Global agrochemicals Market report analysis offers the latest trends, growth factors, industry competitiveness, investment opportunities, detailed profile of the top players for the market during the forecast period.
|Plant Growth Regulators|
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Being essentially less harmful compared to regular synthetic pesticides, biopesticides typically affect only the target pest and other organisms that are closely related to it, therefore, biopesticides are gaining popularity. Although the biopesticide segment generated only a small fraction of the revenue generated by the crop protection chemical industry in 2018, the segment is likely to witness a significant growth rate in the forecast period. This kind of growth is supported by the fact that most countries amended their policies to minimize the use of chemical pesticides and instead promote the use of biopesticides. Owing to a smaller number of regulations on product approvals and low cost of product development, biopesticides are being largely adopted by the agriculture industry. It takes nearly USD 250 million and 10 years to develop new pesticide products. In addition, it takes 12-13 years and roughly USD 130 million for the development of GM crops. However, a biopesticide or biological can enter the market in 3-5 years, with roughly USD 3-5 million development cost
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China accounts for the largest share among other countries in the global fertilizer market. Chinese consumption of inorganic N, P, K fertilizers is reducing, owing to the reduction in cropland area. The cropland area under fruits and vegetables is increasing, while the area under cereals is decreasing. The Chinese fertilizer market is growing at a very slow and steady rate, owing to the government regulation of zero residues of inorganic fertilizer in the food crops since 2013. The large production of cereal crops, like rice and wheat in India, is the major factor supporting market growth. Consumption of pesticides is rising steadily in India. In 2018-19, 72,515 metric tons of pesticides were used by farmers all over the country. Data reveals that only eight states consume more than 70 % of the total pesticide. With a growing emphasis on environment and sustainability, the government in the region is enforcing the clean production and environment-friendly agriculture policies, which led to a decline in pesticide usage in the country. The government has encouraged the use of microbial pesticides, which is expected to grow at a rapid rate in the coming years.
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New product launches, mergers & acquisitions, and partnerships are the major strategies adopted by these leading companies in the market. These companies are also focusing on making an investment in innovations, collaborations, and expansions, in order to increase their market share. The agrochemicals market is fragmented, with major players including Bayer CropScience, Adama Agricultural Solutions, Yara International ASA, BASF SE, Corteva Agriscience and Nufarm accounted for the majority of the share in the global market. In March 2016, Bayer CropScience released the bio-pesticide Serenade, in Australia. The product has been used in other parts of the world for years and has been suitable for a range of fruits and vegetables.
1.1 Study Assumptions & Market definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.4 Plant Growth Regulators
5.2.1 Crop Based
18.104.22.168 Grains and Cereals
22.214.171.124 Pulses and Oilseeds
126.96.36.199 Fruits and Vegetables
5.2.2 Non-Crop Based
188.8.131.52 Turf and Ornamental Grass
184.108.40.206 Other Non-crop Based
5.3.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.3.4 South America
184.108.40.206 Rest of South America
220.127.116.11 South Africa
18.104.22.168 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Competitor Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Bunge Limited
6.3.2 Bayer CropScience AG
6.3.3 BASF SE
6.3.4 Corteva Agriscience
6.3.5 Archer-Daniels-Midland (ADM)
6.3.6 FMC Corporation
6.3.7 Adama Agricultural Solutions
6.3.8 Potash Corporation of Saskatchewan
6.3.9 Nufarm Ltd
6.3.10 Nutrien Ltd.
6.3.11 Yara International
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19