Market Size of Australia Agrochemicals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.31 Billion |
| Market Size (2029) | USD 8.64 Billion |
| CAGR (2024 - 2029) | 3.40 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Agrochemical Market Analysis
The Australia Agrochemicals Market size is estimated at USD 7.31 billion in 2024, and is expected to reach USD 8.64 billion by 2029, growing at a CAGR of 3.40% during the forecast period (2024-2029).
- The growth of agrochemicals in Australia is attributed to the rising demand for agricultural fertilizers and crop protection products. As agrochemicals enable farmers to increase crop production with ease, they are applied to crops, adding nutrients and aiding in the development of harvests. However, farmers are increasing the use of chemical fertilizers to supply nutrients to the crops and enhance their yield, a crucial factor driving the demand for agrochemicals.
- Further, the fertilizer market is becoming a significant contributor to enhanced agricultural productivity in the country. Overuse and reliance on pesticides in the region cause weeds and insects to develop resistance to insecticides and herbicides, necessitating the utilization of more potent pesticides to overcome the problem.
- 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 the market's growth. Australian farmers are adopting new farming practices to increase crop yields. Additionally, the adoption of biopesticides is 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 will likely drive the agrochemicals market in the country during the forecast period.
- The country's increased use of pesticides is driving the market for adjuvants. The increased use of pesticides is driving the demand for oil-based adjuvants, surfactants, and wetting agents within the country. The use of adjuvants with herbicides is witnessing a sharp growth in the country. This trend is expected to continue even further as adjuvants are used to optimize the effectiveness of the relatively more expensive herbicides.
- However, rising concern among farmers and consumers on the impact of chemical pesticide usage, increasing use of GM crops, and expansion of organic farming in the country may lead to declined use of Agrochemicals in the market during the forecast period.
