Agrochemicals Market Size to grow by USD 49 million from 2022 to 2027, Increasing use of herbicides is a major market driver-Technavio

NEW YORK, June 14, 2023 /PRNewswire/ -- The agrochemicals market size is set to grow by USD 49 million between 2022 and 2027 and register a CAGR of 4.48%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read our Sample Report

The report also covers the following areas:

• Agrochemicals Market size
• Agrochemicals Market trends
• Agrochemicals Market industry analysis

Agrochemicals Market 2023-2027: Segmentation

• Product 
• Fertilizers
• Pesticides
• Application 
• Cereals And Grains
• Oilseeds And Pulses
• Fruits And Vegetables
• Geography 
• APAC
• North America
• Europe
• South America
• Middle East And Africa

 The market growth by the fertilizers segment will be significant for overall market growth during the forecast period. It can be also classified as synthetic and biofertilizers. Synthetic fertilizers are subdivided into nitrogenous, phosphatic, and potassic fertilizers. Nitrogenous fertilizers accounted for the largest share of the fertilizers segment in 2020. Nitrogen is one of the crucial macronutrients required for the growth and development of crops. However, nitrogen provides fast growth and improves the colour and texture of plants. It also enhances the overall productivity of crops as well. Urea, ammonia, and ammonium nitrate are some of the commonly used nitrogenous fertilizers. Thus, the use of fertilizers for the production of cereals and grains, fruits, vegetables, and oilseeds will have a positive impact on segment growth during the forecast period.

Receive our market sample report now to gain access to a detailed analysis of the agrochemicals market

Some of these vendors include American Vanguard Corp., Archer Daniels Midland Co., Arysta LifeScience Corp., BASF SE, Bayer AG, Cargill Inc., CF Industries Holdings Inc., Corteva Inc., Drexel Chemical Co., Evonik Industries AG, FMC Corp., Gharda Chemicals Ltd., Haifa Group, Koch Industries Inc., Nissan Chemical Corp., Nufarm Ltd., Nutrien Ltd., Rotam CropSciences Ltd., Syngenta Crop Protection AG, and Yara International ASA are some of the major market participants. Although the Increasing use of herbicides, growing demand from developing countries, and technological improvements leading to efficient methods of agriculture will offer immense growth opportunities, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.

What's New? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Vendor Offerings

• American Vanguard Corp. - The company offers green solutions and precision ag technologies.
• Archer Daniels Midland Co. - The company offers plant-based fertilizers, emulsifiers, and hydrocolloids.
• Arysta LifeScience Corp. - The company offers a range of insecticides, fungicides, and herbicides.

Agrochemicals Market 2023-2027: Market Dynamics

Key driver 

Increasing the use of herbicides is a major agrochemicals market driver during the forecast period. Investments are being made to create more effective and environmentally friendly herbicides. These herbicides are designed to decompose quickly after application. They are used in various crops, including cereals, grains, fruits, vegetables, oilseeds, and pulses. The growing market for fruits and vegetables driven by health consciousness is promoting the use of herbicides in agriculture. However, there have been protests against harmful herbicides, but their affordability compared to alternative products keeps them on the market. For controlling resistant weeds, Industry players are working on bio-based herbicides that are eco-friendly but more expensive than chemical-based options. Hence, these factors are expected to drive market growth in the forecast period.

Significant Trend

The implementation of Integrated Pest Management (IPM) as a new method of crop protection is an emerging agrochemicals market trend. Pest control involves almost 35% of a farmer's crop production cost, and pests cause losses of 11%-32% currently. Pesticides play a very important role in controlling pests. However, growing pest resistance to pesticides and environmental and health concerns have led to the reduced use of chemical pesticides. IPM is a prevention method that builds an inhospitable environment for pests through systemic resistance and proper operation design. Furthermore, It is an integration of multiple control methods involving inspection, monitoring, and reporting, and a pesticide is only applied when it is assumed to be most effective during a pest's life cycle. Hence, such kinds of developments and innovations are anticipated to positively impact the growth of the market during the forecast period.

Major Challenge

The popularity of organic farming is a major challenge that will hinder market growth. Organic crops and crop-based foods have 19%-68% higher levels of antioxidants like polyphenolics compared with conventionally grown crops. These antioxidants lower the risk of chronic diseases, which include neurodegenerative and cardiovascular diseases and even certain types of cancers. However, lower levels of toxic metals and minerals are found in organic crops. For instance, cadmium, lead, and mercury are a few metal contaminants for which the European Commission has set certain permissible contamination levels. These contaminants are approximately 48% lower in organic crops than in conventionally grown crops. It is also found that nitrogen is 11% lower, nitrate is 29% lower, and nitrite is 90% lower in concentrations in organic crops than in conventionally grown crops. Hence, organic farming leads to less use of agrochemicals, which is an essential factor influencing health-conscious consumers. 

Agrochemicals Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist agrochemicals market growth during the next five years
• Estimation of the agrochemicals market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the agrochemicals market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of agrochemicals market vendors

Gain instant access to 17,000+ market research reports. 
Technavio's SUBSCRIPTION platform

Related Reports:

The organometallics market share is expected to increase by USD 3.73 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.7%. This report extensively covers organometallics market segmentation by end-user (chemicals, textile, electronics, and pharmaceuticals) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The rising rate of industrialization in emerging economies is one of the key drivers supporting organometallics market growth. 

The powered agriculture equipment market share should rise by USD 36.58 billion from 2022 to 2026 at a CAGR of 7.08%. This report extensively covers market segmentation by product (tractors, harvesting machinery, haying machinery, planting and fertilizing machinery, and others) and geography (APAC, North America, Europe, MEA, and South America). The government initiatives to support sustainable agricultural practices are notably driving the powered agriculture equipment market growth.

Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global agrochemicals market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global agrochemicals market 2017 - 2021 ($ million)

• 4.2 Geography Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.3 Product Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.4 Application Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Fertilizers - Market size and forecast 2022-2027
• Exhibit 34: Chart on Fertilizers - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Fertilizers - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Fertilizers - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Fertilizers - Year-over-year growth 2022-2027 (%)

• 6.4 Pesticides - Market size and forecast 2022-2027
• Exhibit 38: Chart on Pesticides - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Pesticides - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Pesticides - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Pesticides - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Product 
• Exhibit 42: Market opportunity by Product ($ million)

7 Market Segmentation by Application

• 7.1 Market segments 
• Exhibit 43: Chart on Application - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 45: Chart on Comparison by Application
• Exhibit 46: Data Table on Comparison by Application

• 7.3 Cereals and grains - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Cereals and grains - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Cereals and grains - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Cereals and grains - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Cereals and grains - Year-over-year growth 2022-2027 (%)

• 7.4 Oilseeds and pulses - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Oilseeds and pulses - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Oilseeds and pulses - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Oilseeds and pulses - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Oilseeds and pulses - Year-over-year growth 2022-2027 (%)

• 7.5 Fruits and vegetables - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Fruits and vegetables - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Fruits and vegetables - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Fruits and vegetables - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Fruits and vegetables - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Application 
• Exhibit 59: Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 India - Market size and forecast 2022-2027
• Exhibit 93: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.11 Brazil - Market size and forecast 2022-2027
• Exhibit 97: Chart on Brazil - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Brazil - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Brazil - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Brazil - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027
• Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 American Vanguard Corp. 
• Exhibit 112: American Vanguard Corp. - Overview
• Exhibit 113: American Vanguard Corp. - Product / Service
• Exhibit 114: American Vanguard Corp. - Key offerings

• 12.4 Archer Daniels Midland Co. 
• Exhibit 115: Archer Daniels Midland Co. - Overview
• Exhibit 116: Archer Daniels Midland Co. - Business segments
• Exhibit 117: Archer Daniels Midland Co. - Key offerings
• Exhibit 118: Archer Daniels Midland Co. - Segment focus

• 12.5 Arysta LifeScience Corp. 
• Exhibit 119: Arysta LifeScience Corp. - Overview
• Exhibit 120: Arysta LifeScience Corp. - Product / Service
• Exhibit 121: Arysta LifeScience Corp. - Key offerings

• 12.6 BASF SE 
• Exhibit 122: BASF SE - Overview
• Exhibit 123: BASF SE - Business segments
• Exhibit 124: BASF SE - Key news
• Exhibit 125: BASF SE - Key offerings
• Exhibit 126: BASF SE - Segment focus

• 12.7 Bayer AG 
• Exhibit 127: Bayer AG - Overview
• Exhibit 128: Bayer AG - Business segments
• Exhibit 129: Bayer AG - Key offerings
• Exhibit 130: Bayer AG - Segment focus

• 12.8 Cargill Inc. 
• Exhibit 131: Cargill Inc. - Overview
• Exhibit 132: Cargill Inc. - Product / Service
• Exhibit 133: Cargill Inc. - Key news
• Exhibit 134: Cargill Inc. - Key offerings

• 12.9 CF Industries Holdings Inc. 
• Exhibit 135: CF Industries Holdings Inc. - Overview
• Exhibit 136: CF Industries Holdings Inc. - Business segments
• Exhibit 137: CF Industries Holdings Inc. - Key news
• Exhibit 138: CF Industries Holdings Inc. - Key offerings
• Exhibit 139: CF Industries Holdings Inc. - Segment focus

• 12.10 Corteva Inc. 
• Exhibit 140: Corteva Inc. - Overview
• Exhibit 141: Corteva Inc. - Business segments
• Exhibit 142: Corteva Inc. - Key news
• Exhibit 143: Corteva Inc. - Key offerings
• Exhibit 144: Corteva Inc. - Segment focus

• 12.11 Drexel Chemical Co. 
• Exhibit 145: Drexel Chemical Co. - Overview
• Exhibit 146: Drexel Chemical Co. - Product / Service
• Exhibit 147: Drexel Chemical Co. - Key offerings

• 12.12 Evonik Industries AG 
• Exhibit 148: Evonik Industries AG - Overview
• Exhibit 149: Evonik Industries AG - Business segments
• Exhibit 150: Evonik Industries AG - Key news
• Exhibit 151: Evonik Industries AG - Key offerings
• Exhibit 152: Evonik Industries AG - Segment focus

• 12.13 FMC Corp. 
• Exhibit 153: FMC Corp. - Overview
• Exhibit 154: FMC Corp. - Product / Service
• Exhibit 155: FMC Corp. - Key offerings

• 12.14 Gharda Chemicals Ltd. 
• Exhibit 156: Gharda Chemicals Ltd. - Overview
• Exhibit 157: Gharda Chemicals Ltd. - Product / Service
• Exhibit 158: Gharda Chemicals Ltd. - Key offerings

• 12.15 Haifa Group 
• Exhibit 159: Haifa Group - Overview
• Exhibit 160: Haifa Group - Product / Service
• Exhibit 161: Haifa Group - Key offerings

• 12.16 Koch Industries Inc. 
• Exhibit 162: Koch Industries Inc. - Overview
• Exhibit 163: Koch Industries Inc. - Product / Service
• Exhibit 164: Koch Industries Inc. - Key news
• Exhibit 165: Koch Industries Inc. - Key offerings

• 12.17 Nissan Chemical Corp. 
• Exhibit 166: Nissan Chemical Corp. - Overview
• Exhibit 167: Nissan Chemical Corp. - Business segments
• Exhibit 168: Nissan Chemical Corp. - Key offerings
• Exhibit 169: Nissan Chemical Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 170: Inclusions checklist
• Exhibit 171: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 172: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 173: Research methodology
• Exhibit 174: Validation techniques employed for market sizing
• Exhibit 175: Information sources

• 13.5 List of abbreviations 
• Exhibit 176: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED