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Agrochemicals Market

Agrochemicals Market Size, Share & Industry Analysis, By Product (Fertilizers, Crop Protection Chemicals, Plant Growth Regulators), By Pesticide Type (Insecticides, Herbicides, Fungicides, Nematicides, Other Pesticide Types), By Crop Type (Cereals & Grains [Corn, Wheat, Rice, Other Cereals & Grains], Oilseeds & Pulses [Soybean, Sunflower, Other Oilseeds & Pulses], Fruits & Vegetables [Apples, Cucumbers, Grapes, Pears, Potatoes, Bananas, Avocado, Tomatoes, Cucurbits, Other], Other Crop Types) - Share, Size, Outlook, and Opportunity Analysis, 2024-2031.

Report Code: AGR001104
Report Format: PDF + PPT + Excel
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Report Description

Market Overview:

The global agrochemicals market is expected to increase at a 4.8% CAGR between 2024 and 2031. In 2024, the market value was USD 245.3 billion, and it is predicted to grow significantly by 2031.

Asia-Pacific leads the market, with key metrics indicating rapid development in biological crop protection products. The market is undergoing substantial upheaval due to sustainable agriculture techniques and precision farming technologies.

 

Global Agrochemicals Market Dynamics:

 

Rising adoption of sustainable and bio-based agrochemical solutions transforms market landscape

The shift to sustainable agriculture has resulted in major changes in agrochemical consumption trends. Over the last two years, organic farming has grown by 35% globally, resulting in a 42% increase in bio-based pesticide adoption. Major agricultural regions reported a 28% increase in sustainable agrochemical usage, with European farmers driving the transformation.

 

Increasing food security concerns and population growth drive market expansion

Global food demand is expected to rise by 50% by 2050, necessitating increased agricultural yields. Farmers have enhanced fertilizer application efficiency by 25% using precision agriculture techniques. Fertilizer consumption in Asia-Pacific has increased by 32% to support intensive farming methods.

 

Environmental regulations and residue concerns impact market growth

Chemical pesticide use has been reduced by 15% as a result of strict controls. The establishment of maximum residue restrictions raised compliance costs by 20%, affecting market growth rates.

 

Segment Overview:

 

Fertilizers segment dominates with YY% market share, driven by increasing focus on crop yields

The fertilizer segment has maintained its market leadership position, with nitrogenous fertilizers accounting for the lion's share. Global nitrogen fertilizer usage has climbed by 3.5% per year, with developing countries experiencing the fastest growth rates. Major manufacturers reported a 28% rise in advanced fertilizer formulation sales.


The transition to precision agriculture has resulted in a 35% rise in controlled-release fertilizer use. China and India have reported a 40% increase in fertilizer demand for rice cultivation. The industry has seen substantial innovation, with smart fertilizers accounting for 15% of the premium market share.

 

Regional Outlook:

 

Asia-Pacific leads the global agrochemicals market, controlling 40% of the global market share

The region's supremacy is due to substantial agricultural activity and government support for advanced farming practices. China and India together account for 45% of worldwide agrochemical usage. Recent agricultural policies in India have increased fertilizer subsidies by 25%, resulting in market growth.


The region has built four main agrochemical manufacturing clusters, with total production capacity up by 30%. Chinese agrochemical exports have increased by 22% year on year, primarily to Southeast Asian countries.

 

Competitive Intelligence:

The market is characterized by severe competition between international businesses and regional players. Leading corporations have made significant investments in R&D, with an average 18% increase in research spending. Strategic developments include Yara International's USD 1.2 billion investment in green ammonia production and SABIC's growth into bio-based solutions. The industry has seen tremendous consolidation, with three major mergers in the last 18 months. Companies have strengthened their distribution networks, resulting in 25% increased market reach.

 

Analyst Opinion:

The agrochemicals market is undergoing substantial upheaval, with a growing emphasis on sustainable solutions and precision agriculture. The combination of digital technologies and bio-based goods creates significant growth prospects. Emerging markets and specialty crop segments are projected to boost future growth.

 

Major Players:

  • Yara International
  • SABIC
  • Royal Dutch Shell plc
  • OCP Group
  • PhosAgro
  • Rashtriya Chemical Fertilizer Ltd.
  • Evonik Industries
  • Cargill Incorporated
  • Merck KGaA
  • Ineos Group Ltd

 

Key Developments:

  • March 2024: Yara International launched digital-enabled precision fertilizer solutions
  • January 2024: SABIC introduced new sustainable crop protection formulations
Table of Content

1. INTRODUCTION

    1.1. Market Definitions & Study Assumptions

    1.2. Market Research Scope & Segment

    1.3. Research Methodology

 

2. EXECUTIVE SUMMARY

    2.1. Market Overview & Insights

    2.2. Segment Outlook

    2.3. Region Outlook

 

3. COMPETITIVE INTELLIGENCE

    3.1. Companies Financial Position

    3.2. Company Benchmarking -- Key Players

    3.3. Market Share Analysis -- Key Companies

    3.4. Recent Companies Key Activities

    3.5. Pricing Analysis

    3.6. SWOT Analysis

 

4. COMPANY PROFILES (KEY COMPANIES LIST BY COUNTRY) (PREMIUM)

 

5. COMPANY PROFILES

    5.1. Royal Dutch Shell plc

    5.2. OCP Group

    5.3. SABIC

    5.4. PhosAgro

    5.5. Yara International

    5.6. Rashtriya Chemical Fertilizer Ltd.

    5.7. Adjuvants Plus Inc.

    5.8. Merck KGaA

    5.9. Praxair Technology, Inc.

    5.10. Southern Agricultural Insecticides, Inc. (*LIST NOT EXHAUSTIVE)

 

6. MARKET DYNAMICS

    6.1. Market Trends

        6.1.1. Growing Adoption of Precision Agriculture

        6.1.2. Rising Demand for Organic Agrochemicals

        6.1.3. Integration of Digital Technologies in Agrochemical Application

    6.2. Market Drivers

        6.2.1. Increasing Global Food Demand

        6.2.2. Rising Need for Crop Protection

        6.2.3. Technological Advancements in Farming Practices

    6.3. Market Restraints

        6.3.1. Environmental Concerns and Regulations

        6.3.2. Growing Organic Farming Practices

    6.4. Market Opportunities

    6.5. Porter's Five Forces Analysis

        6.5.1. Threat of New Entrants

        6.5.2. Bargaining Power of Buyers/Consumers

        6.5.3. Bargaining Power of Suppliers

        6.5.4. Threat of Substitute Products

        6.5.5. Intensity of Competitive Rivalry

    6.6. Supply Chain Analysis

    6.7. Value Chain Analysis

    6.8. Trade Analysis

    6.9. Pricing Analysis

    6.10. Regulatory Analysis

    6.11. Patent Analysis

    6.12. SWOT Analysis

    6.13. PESTLE Analysis

 

7. BY PRODUCT TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

    7.1. Fertilizers

        7.1.1. Nitrogenous

        7.1.2. Phosphatic

        7.1.3. Potassic

        7.1.4. Secondary Fertilizers

        7.1.5. Others

    7.2. Crop Protection Chemicals

        7.2.1. Herbicides

        7.2.2. Insecticides

        7.2.3. Fungicides

        7.2.4. Others

    7.3. Plant Growth Regulators

    7.4. Others

 

8. BY PESTICIDE TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

    8.1. Insecticides

    8.2. Herbicides

    8.3. Fungicides

    8.4. Nematicides

    8.5. Other Pesticide Types

 

9. BY CROP TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

    9.1. Cereals & Grains

        9.1.1. Corn

        9.1.2. Wheat

        9.1.3. Rice

        9.1.4. Other Cereals & Grains

    9.2. Oilseeds & Pulses

        9.2.1. Soybean

        9.2.2. Sunflower

        9.2.3. Other Oilseeds & Pulses

    9.3. Fruits & Vegetables

        9.3.1. Apples

        9.3.2. Cucumbers

        9.3.3. Grapes

        9.3.4. Pears

        9.3.5. Potatoes

        9.3.6. Bananas

    9.4. Others

 

10. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

    10.1. Cereals & Grains

    10.2. Oilseeds & Pulses

    10.3. Fruits & Vegetables

    10.4. Others

 

11. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

    11.1. North America

        11.1.1. United States

        11.1.2. Canada

        11.1.3. Mexico

    11.2. South America

        11.2.1. Brazil

        11.2.2. Argentina

        11.2.3. Rest of South America

    11.3. Europe

        11.3.1. Germany

        11.3.2. United Kingdom

        11.3.3. France

        11.3.4. Italy

        11.3.5. Spain

        11.3.6. Russia

        11.3.7. Rest of Europe

    11.4. Asia-Pacific

        11.4.1. China

        11.4.2. Japan

        11.4.3. India

        11.4.4. Australia

        11.4.5. South Korea

        11.4.6. Rest of Asia-Pacific

    11.5. Middle-East

        11.5.1. UAE

        11.5.2. Saudi Arabia

        11.5.3. Turkey

        11.5.4. Rest of Middle East

    11.6. Africa

        11.6.1. South Africa

        11.6.2. Egypt

        11.6.3. Rest of Africa

 

*NOTE: All the region mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

Scope of the Report

By Product:

  • Fertilizers
    • Nitrogenous
    • Phosphatic
    • Potassic
    • Secondary Fertilizers
  • Crop Protection Chemicals
    • Herbicides
    • Insecticides
    • Fungicides
    • Others
  • Plant Growth Regulators

By Pesticide Type:

  • Insecticides
  • Herbicides
  • Fungicides
  • Nematicides
  • Other Pesticide Types

By Crop Type:

  • Cereals & Grains
    • Corn
    • Wheat
    • Rice
    • Other Cereals & Grains
  • Oilseeds & Pulses
    • Soybean
    • Sunflower
    • Other Oilseeds & Pulses
  • Fruits & Vegetables
    • Apples
    • Cucumbers
    • Grapes
    • Pears
    • Potatoes
    • Bananas
    • Avocado
    • Tomatoes
    • Cucurbits
    • Other
  • Other Crop Types

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