North America Agrochemicals Market - Growth, Trends, COVID-19 Impacts and Forecasts (2021 - 2026)

The North America Agrochemicals Market is segmented by Type ( Fertilizers, Pesticides, Adjuvants and Plant Growth Regulators), Application ( Crop Based and Non- Crop Based) and Geography ( United States, Canada, Mexico, and the Rest of North America). The report also offers latest trends and growth prospects of the market.

Market Snapshot

North America Agrochemical Market
Study Period: 2016-2026
Base Year: 2020
Fastest Growing Market: North America
Largest Market: North America
CAGR: 4.1 %

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Market Overview

The North American agrochemical market was valued at USD 33,610.3 million in 2020, and it is anticipated to reach USD 42,609.3 million by 2026, registering a CAGR of 4.1% during the forecast period (2021-2026).

Due to the emergence of the COVID-19 pandemic, there has been a supply chain disruption as the agricultural sector had to face labor unavailability, transportation barriers, restriction for market access, and lack of inventories in some regions. Many fertilizer and pesticide manufacturers have faced issues due to a lack of raw material availability, which has led to the reduction of various agrochemical product manufacturing. Thus, COVID-19 has caused a negative impact on North America agrochemicals market. 

The agricultural agrochemicals industry in the region has been transforming over the years, with robust growth, coupled with changing crop mix trends and environmental regulations. There is an increasing need to balance the judicious use of the best chemicals and minimizing the impact of agrochemicals. Regulation plays an important role in this sector. Price premiums and innovative eco-friendly production methods are emerging steadily in the agrochemical market.

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. According to the FAO, the demand for nitrogen fertilizers in the United States increased and was recorded as 14,594 thousand metric ton in 2019. Therefore, the demand for nutritional food with increasing use of nitrogen, strengthening of the market share through product launches, and regulatory measures may drive the market during the forecast period.

Scope of the report

According to the OECD, agrochemicals are commercially produced, usually synthetic, chemical compounds used in farming, such as fertilizers, pesticides, or soil conditioners. Corporations in the agrochemical industry operate in B2B and B2C business formats. To eliminate any double-count errors in market estimations, bulk buyers procuring agrochemicals for retail sale after value-addition through further processing are not considered as a part of the agrochemical market. The North America Agrochemicals Market is segmented by Type (Fertilizers, Pesticides, Adjuvants and Plant Growth Regulators), Application ( Crop Based and Non- Crop Based) and Geography ( United States, Canada, Mexico, and the Rest of North America). The report also offers latest trends and growth prospects of the market.

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Key Market Trends

Rapid Adoption of Bio Based Agrochemicals

Bio-based agrochemical products that can not only improve yield but also positively affect harvest grade and sizing in specialty crops, along with shelf life and nutritional quality, are gaining interest. The Environmental Protection Agency (EPA) is committed to encouraging the development and use of biopesticides and considers them inherently reduced-risk pesticides. EPA’s Office of Pesticide Programs (OPP), along with the Office of Chemical Safety and Pollution Prevention (OCSPP), works with 10 Regional Offices in North America and other EPA program offices on a wide range of pesticide issues and adopting biopesticides. 

According to the USDA, in the 2019 Organic survey, there were 16,585 certified organic farms, a 17% increase from 2016, which accounted for 5.5 million certified acres, an increase of 9% over 2016. The organic farmland increased from 3.13 hectare to 3.65 hectare, as the farmland is increasing, the sales of certified organic products increased US farms and ranches sold nearly USD 7.60 billion in certified organic goods in 2019.

 One of the key factors driving the biopesticides market is greater investment in R&D since the major agrochemical companies are increasing their investments in the research and development of new and improved biological solutions for the consumers. Therefore, a rapid rate of adoption of organic farming, along with active participation of the players in developing new products, is expected to drive the overall agrochemicals market during the forecast period.

North America Agrochemicals Market - Organic Farmland in million hectare, 2016-2019

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United States is Dominating the Market

As reported by FAO, soybean yield has increased from 33,133 hg/ha in 2017 to 33,997 hg/ha in 2018, whereas the area under soybean production has decreased from 36,236,750 ha in 2017 to 35,448,420 in 2018. This increase in yield clearly indicates the rocketed use of agrochemicals in the country.According to National Agricultural Statistics Service (NASS), about 96% Soyabean crop is grown in the mid-west states of the country. The fertilizer use in these areas has increased from 29.0% nitrogen application in 2018 to 32.0% in 2020. This increase resulted in the expansion of the market in the country. Therefore, increasing food demand in the country indicates the more use of agrochemicals, along with favorable environmental regulations coupled with strategic partnerships among the major market players, are anticipated to drive the market in the country.

North America Agrochemicals Market - United States, Revenue in USD Million, 2016-2020

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Competitive Landscape

The North American agrochemical market is a highly consolidated market, with the major players accounting for major share in the market in 2020. Companies such as BASF SE, Bayer CropScience AG, Archer Daniels Midland Company (ADM), Syngenta AG, Corteva Agriscience, Nufarm Ltd, and FMC Corporation are the major players in the market. These players in the market are competing to hold a consistent share in the market through various strategies such as mergers and acquisitions, partnerships, expansions, and product launches.

Recent Developments

In May 2021, Corteva Agriscience and BASF Canada Agricultural Solutions (BASF) partnered toward a joint approach to weed control by recommending the combined use of Liberty 200 SN and Enlist herbicides on Enlist E3TM soybean acres. This partnership will increase the use of herbicides, hereby expanding the market for agrochemicals.

In August 2020, FMC and Zymergen have collaborated to focus on creating breakthrough crop protection solutions. FMC and Zymergen will develop a new and faster natural products discovery process that leads to the development of novel crop protection solutions for growers around the world.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 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 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of Substitute Products

      4. 4.4.4 Threat of New Entrants

  5. 5. MARKET SEGMENTATION

    1. 5.1 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 Oilseeds

      3. 5.2.3 Fruits and Vegetables

      4. 5.2.4 Turf and Ornamentals

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 US

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of NA

  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 UPL

      2. 6.3.2 Bayer Cropscience AG

      3. 6.3.3 Basf Se​

      4. 6.3.4 Corteva Agriscience​

      5. 6.3.5 Archer-daniels-midland (ADM)​

      6. 6.3.6 FMC Corporation​

      7. 6.3.7 Adama Agricultural Solutions​

      8. 6.3.8 Gowan Company

      9. 6.3.9 Nufarm Ltd​

      10. 6.3.10 Syngenta​

      11. 6.3.11 Yara International​

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS​

  8. 8. AN ASSESSMENT OF IMPACT OF COVID 19 ON THE MARKET

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Frequently Asked Questions

The North America Agrochemicals Market market is studied from 2016 - 2026.

The North America Agrochemicals Market is growing at a CAGR of 4.1% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Archer-Daniels-Midland Company (ADM) , Bayer Crop Science AG, BASF SE, Corteva Agriscience, Syngenta AG are the major companies operating in North America Agrochemicals Market.

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