Zion Market Research, the market research group announced the analysis report titled ‘Agrochemicals Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024’
Global Agrochemicals Market: Overview
Agrochemicals are chemical products that are used on a wide range in the fields of horticulture, agriculture, and floriculture. The agrochemical products include fertilizers, pesticides, hormones and many other chemical growth agents. These are mainly used to protect the crops from insects, pests and also enhance their further growth and development.
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Global Agrochemicals Market: Growth Factors
The global agrochemicals market is driven by the increasing awareness among the farmers in the developing nations and also the new technological farming practices. The increasing population demand for food grains and the declining cultivable land due to industrialization and urbanization is also one of the main factors driving the global market growth. The crops such as fruits and vegetables, and cereals and grains, which are of high value, along with the protected crops have been gaining more return in investments, which help boost the global agrochemicals market. The demand for agricultural products from greenhouse system has resulted in the further growth in the market. The global agrochemicals market is driven by the increasing demand for pest-free crops and the various research and intellectual property rights along with shifting R&D investments are escalating the global agrochemical market growth. The market global growth is enhanced due to the rising attention of farmers on the high-quality agrochemical crops. But the global market is restrained due to the high demand for organic pesticides and bio-farming.
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Global Agrochemicals Market: Segmentation
The global agrochemicals market is segmented on the basis of type, pesticide type, fertilizer type, subtype, crop type and region. The type segment is further segmented into fertilizers and pesticides. The pesticide type segment is bifurcated into pyrethroids, organophosphates, bio-pesticides and neonicotinoids. The fertilizer type segment is further divided into phosphatic, nitrogenous and potassic. The crop type segment of the global agrochemicals market is further sub-segmented into cereals and grains, oilseeds and pulses, plantation crops, hydroponics and fruits and vegetables. The region segment is further categorized into Latin America, Asia Pacific, North America, Europe and Rest of the World.
Global Agrochemicals Market: Regional Analysis
A large number of farmlands and excellent soil fertility has resulted in the development of the global agrochemicals market in the Asia Pacific regions. North America and Europe are expected to be the rapid growing markets in the future. The increasing demand for the food grains from the growing population and higher exports of food grains in India and China are expected to boost the agrochemicals market in Asia Pacific regions. In North America, the US is the largest producer of agrochemicals.
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Global Agrochemicals Market: Competitive Players
The increasing demand for the agrochemical products has resulted in the growth of the global agrochemicals market. The key player in the global market is Bayer A.G. The other players in the global market include Makhteshim Agan Industries Ltd, Agrium Inc., Mosaic Company, Indian Farmers Fertiliser Cooperative, Potash Corp. SAS. Inc., Nufarm Ltd., Sumitomo Chemical, Dow Agrosciences LLC., BASF S.E., Israel Chemicals Ltd., K+S AG, E.I. Du Pont De Nemours & Company, Sociedad Quimica Y Minera De Chile SA, Yara International ASA, Dow Chemical Limited and Monsanto Company. The competitors adopt various growth strategies such as joint ventures, agreement, collaborations, and partnerships in order to maintain their standard in the market.
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