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Australia Agrochemicals Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

The Australian Agrochemicals Market is Segmented by Product Type (Fertilizers, Pesticides, Adjuvants, and Plant Growth Regulators) and Application (Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, Commercial Crops, and Other Applications).

Market Snapshot

Australia Agrochemicals Market Overview
Study Period: 2016-2026
Base Year: 2020
CAGR: 3.5 %

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Market Overview

The Australian agrochemicals market is anticipated to grow at a rate of 3.5% during the forecast period (2021-2026). After the COVID-19 health emergency, a nationwide shutdown was imposed in Australia to slow down the spread of the virus. However, the Federal Minister for Agriculture deemed Australia's food production and supply chain an essential service, with assurances that there will be no stoppage in agricultural supply lines, transportation, and logistics. Thus, pesticides will continue to be delivered to farms despite state-imposed border shutdowns. Therefore, the agrochemicals market in Australia is expected to face a lower impact o the COVID-19 outbreak in 2021.

Over the medium term, the technological innovations in the industry, pest pressures, and the rising use of bio-based crop solutions are expected to drive market growth. Australian farmers are adopting new farming practices to increase crop yields. Additionally, the adoption of biopesticides is also emerging in the country. The growing awareness of environmental health has made these bio-based solutions increasingly popular among Australian farmers. The demand for such products is likely to drive the agrochemicals market in the country during the forecast period.​

The fertilizer industry in the country has been transforming over the years, with robust growth, changing crop mix trends, and environmental regulations to monitor the appropriate rate of application. Urea is the widely used nitrogenous fertilizer in the country. According to the Food and Agricultural organization, agricultural use of urea increased from 1,548.25 thousand metric ton to 1678.3 thousand metric ton during 2016 and 2017.​

Scope of the Report

Agrochemicals or agriculture chemicals refer to the chemicals (fertilizers, pesticides, adjuvants, and plant growth regulators), which are used in agriculture to control insects and weeds, prevent diseases, and promote plant growth. The market studied is segmented by product type (fertilizers, pesticides, adjuvants, plant growth regulators) and application (grains and cereals, pulses and oilseeds, fruits and vegetables, commercial crops, and other applications).

Product Type
Fertilizers
Pesticides
Adjuvants
Plant Growth Regulators
Application
Grains and Cereals
Pulses and Oilseeds
Fruits and Vegetables
Commercial Crops
Other Applications

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Key Market Trends

Increasing Demand for Biopesticides

Although the biopesticide segment generated only a small fraction of the revenue generated by the chemical industry, it is likely to witness a significant CAGR during the forecast period in Australia. Given that biopesticides tend to pose fewer risks than chemical pesticides, the EPA generally requires fewer data to register a biopesticide than to register a chemical pesticide. Additionally, the area under organic cultivation is also increasing in the country from 571.58 thousand hectare in 2016 to 669.92 thousand hectare in 2019. This indicates the rising demand for bio-based solutions.

New biopesticides are often registered in less than a year compared to an average of more than three years for chemical pesticides. The developing countries have simplified the requirement for the registration of biopesticides to promote the use of biopesticides. The country is also providing grants for R&D and production unit setups. All these activities are creating an opportunity for the development of the biopesticide market.

With the rising demand for biopesticides, most major crop protection companies are developing and marketing products containing non-synthetic ingredients derived from plants, microbes, or minerals.

For instance, in 2019, Velifer, a new biological insecticide, was launched by BASF SE for pest control in vegetable crops, registered for use in Australia. The Australian Pesticides and Veterinary Medicines Authority (APVMA) approved BASF's Serifel Biofungicide with Bacillus amyloliquefaciens strain MBI 600 for the control of Botrytis cinerea in grapes and strawberries in the same year.

Australia Agrochemicals Market Latest Trends

Grains and Cereals Segment Dominate the Market by Application Type

In 2019, cereal production accounted for 2.92 million metric ton, of which wheat production accounted for 1.76 million metric ton. Wheat production accounts for 70% of total cereal production in Western Australia. Among the major cereals grown in Australia, including wheat, barley, oats, canary, and triticale, insects such as cutworm, armyworm, mites, heliciverpa, and aphids, are commonly known pest species that cause yield loss for these crops. Therefore, insecticides are the most commonly used agrochemicals in cereals and grains in the country.

Barley, like any other cereals, can be damaged by a wide range of insect pests. Aphids are the primary insect pest affecting barley in the northern growing region of Australia. Research has shown that the main impact of aphids in the northern region is through their feeding activity, which reduces barley yields. Systiva is a seed dressing fungicide that gained APVMA approval for registration as a seed treatment fungicide in 2015. The product is registered for use on cereals in Australia, and the product has been found to be very effective in disease control in southern Australia. Therefore, to reduce the infestation of diseases and pests, many farmers in Australia rely on agrochemicals to protect their crops from pests, weeds, and diseases.

Australia Agrochemicals Market Share

Competitive Landscape

The Australian agrochemicals market is a fairly consolidated market based on the overall market revenue in 2020. The market's major players include BASF SE, Bayer CropScience, Syngenta AG, Nufarm Ltd, and FMC Corporation. Major players in the industry are heavily investing in R&D for new product launches to increase their market share. These companies are expanding their business activities by focusing on new product launches, partnerships, and investments, which further helps companies enhance their sales in the country.

Recent Developments

In 2020, Nufarm launched Teppan insecticide for commercial sales, containing a new unique active ingredient cyclaniliprole (Cyclapryn), for the Australian agriculture market. Cyclapryn has a wide insecticidal spectrum active against various lepidopterous insect pests with Coleoptera, Thysanoptera, Diptera, Hemiptera, and various other insect pests.

In 2020, Corteva Agriscience launched a new product Entrust Organic Insecticide, naturally derived product based on metabolites produced by fermentation of a naturally occurring soil organism. It received regulatory approval from the Australian Pesticides and Veterinary Medicines Authority (APVMA) in July 2020.

In 2019, Velifer, a new biological insecticide, was launched by BASF SE for pest control in vegetable crops, registered for use in Australia. The Australian Pesticides and Veterinary Medicines Authority (APVMA) also approved BASF's Serifel Biofungicide [110 g/kg (>5.5 x 1010 CFU/g) Bacillus amyloliquefaciens strain MBI 600] for the control of Botrytis cinerea in grapes and strawberries in the same year.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Fertilizers

      2. 5.1.2 Pesticides

      3. 5.1.3 Adjuvants

      4. 5.1.4 Plant Growth Regulators

    2. 5.2 Application

      1. 5.2.1 Grains and Cereals

      2. 5.2.2 Pulses and Oilseeds

      3. 5.2.3 Fruits and Vegetables

      4. 5.2.4 Commercial Crops

      5. 5.2.5 Other Applications

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Bayer Crop Science AG

      2. 6.3.2 Syngenta International AG

      3. 6.3.3 BASF SE

      4. 6.3.4 Corteva Agri Science

      5. 6.3.5 ADAMA Agricultural Solutions

      6. 6.3.6 FMC Corporation

      7. 6.3.7 Nufarm Ltd

      8. 6.3.8 Bioworks Inc.

      9. 6.3.9 Yara international

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THIS MARKET

**Subject to Availability

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Frequently Asked Questions

The Australia Agrochemicals Market market is studied from 2016 - 2026.

The Australia Agrochemicals Market is growing at a CAGR of 3.5% over the next 5 years.

BASF SE , Bayer CropScience, Syngenta AG, Corteva Agriscience, Nufarm Ltd are the major companies operating in Australia Agrochemicals Market.

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