Malaysia Agrochemicals Market Size

Malaysia Agrochemicals Market Analysis

The Malaysia Agrochemicals Market size is estimated at USD 679.59 million in 2024, and is expected to reach USD 849.33 million by 2029, growing at a CAGR of 4.56% during the forecast period (2024-2029).

• In Malaysia, agriculture is an important industry, as it ensures food security and increases income levels in rural areas. The gradual decline of arable land can be attributed to urbanization. Increasing population statistics and declining arable land are responsible for maintaining adequacy in agricultural practices, ensuring more significant utilization of agrochemical products in the areas that were ignored in the past.
• The use of agrochemicals has been growing significantly in the country, particularly for pesticides and fertilizer consumption, as modern practices are being utilized in fields. The growth of the agrochemical industry also depends on the rapid expansion of areas under oil palm and rubber plantations. Malaysia's oil palm industry is the country's primary agricultural sector and plays a crucial role in world and fat trade. As plantation crops, like oil palm and rubber, consume most agrochemicals in the country, followed by cereals and vegetables, agrochemicals have increased.
• Many local enterprises in Malaysia are expanding into the agricultural sector. The nation is also evolving into a regional hub for pesticide exports, as active chemicals are transferred here to be transformed into fresh goods before being reexported to surrounding countries. Additionally, the increasing government initiatives are becoming a driving factor for market growth. Therefore, the increase in consumption of highly economical crops, food demand, and government support is aiding the market growth in the forecast period.