The report covers comprehensive information on the market trends, value (US$ Mn) and volume (KT) competition projections, recent developments and dynamics in the global agrochemicals market between 2018 and 2026.
The global Agrochemicals market is estimated to reach US$ 281.7 Bn at the end of forecast period, while growing at a CAGR of 4.9%, by value. Rising demand for pesticides and increasing consumption of agrochemicals as a liquid form are some of the key factors are expected to boost the demand for agrochemicals in the global market.
Population Growth and Subsequent Increase in Food Consumption
The global population was pegged at 7.6 Billion in 2017 with a change of 1.12% during 2016-2017. High population growth has fueled food consumption globally, which has surged the demand for agricultural products. This has contributed towards an increase in the use of agriculture chemicals to enhance crop production and developments in the agriculture sector. Thus, the use of agrochemicals such as fertilizers and pesticides has become a necessity to meet the growing demand for food. This is also driving the demand for new technologies and innovations in the agriculture industry, globally. Agrochemicals play an important role in enhancing crop yield and quality
At the end of forecast period, the pesticides segment of agrochemicals is anticipated to grow and become 1.54X of its value size in 2018. This segment will projected to create an Incremental dollar opportunity nearly US$ 67.19 Bn over the forecast period.
Shrinking Crop Harvesting Area and Need for Better Yield per Unit Area of Farmland
Since the past few years, population growth has been translating to a decline in farmland area. Rapid urbanization and industrialization have been shrinking the cultivation land with growth in the number of industries, houses, highways and many other infrastructural buildings. In the past eight years, the total crop area harvested has declined with a significant CAGR of about 3.5%. In 2010, the total crop area available for harvesting was 1.8 Bn Hectare, which reduced to 1.3 Bn Hectare in 2017.
The fertilizers segment of agrochemicals is projected to grow with 3.9% CAGR, in terms of value, over the forecast period. Rising demand for a better yield in shrinking arable land and higher production of crop with better quality, and also to maintain fertility of the soil are drive the agrochemicals market
Agricultural Development, Supported by Economic Growth
As per IMF data, the global economy grew by 3.8% (real GDP) in 2017. Economic growth improves the standard of living, alongside the spending power of people. Increasing spending power leads to a change in the eating habits of the population. Growth in food demand has been stronger than population growth, due to the changing eating habits of people. This, in turn, has been accelerating the demand for fertilizers and pesticides. Fertilizers and pesticides are used to improving crop yield, fertility of soil and enhance production. Therefore, the demand for agrochemicals is expected to grow in tandem with the growth of the agriculture industry
China and India to Remain a High Growth–High Value Region in the Agrochemicals Market
Production and Consumption of agrochemicals in China and India is expected to grow with significant growth rate during the forecast period owing to increasing consumption and production of fertilizers, such as nitrogen based, potassium based fertilizers, in the countries. China and India are major exporter of agrochemicals in the Latin America, Asia Pacific and other regions. Such factors are projected to create a robust platform for the growth of the China and India agrochemicals Market ate the end of forecast period. Collectively, in terms of value, China and India is expected to grow and become 1.62x over the forecast period.
Moreover, production and distribution facilities in this region are well- established, and rising nitrogen & potassium based fertilizers consumption will create a significant opportunity for the growth of the agrochemicals market in the Asia Pacific region.
Agrochemicals Market – Competition Landscape
Globally. Agrochemicals market is highly fragmented with top market players holding single digit market share as of 2017. The top ten players in the global agrochemicals market are projected to collectively hold between 15% and 20% market share.
In past few years, agrochemicals market has witnessed significant market developments from the competition perspective. Acquisitions, collaborations, and expansion of the production capacity are some of the key strategies adopted by market players to expand and sustain in the global Agrochemicals market.
Some of the key manufacturers covered under this study on the global Agrochemicals market are BASF SE, Bayer AG, DowDuPont, FMC Corporation, DuSolo Fertilizers, Yara International ASA, Israel Chemicals Limited (ICL), The Mosaic Company, WinHarvest Pty Ltd, Syngenta AG, Nutrient Ltd., PhosAgro, Saudi Arabia Fertilizer Company (SAFCO), OCI N.V., S.A OCP, Jordan Abyad Fertilizers and Chemicals Company, K+S KALI GmbH, Heringer.
Key Questions Answered in the Global Agrochemicals Report
This study on the Agrochemicals market offers an eight-year forecast for the global Agrochemicals market from 2018 to 2026. This study of the Agrochemicals market considers 2017 as the base year with market values estimated for 2018 and a forecast developed for the duration of 2018 to 2026. The Compound Average Growth Rate (CAGR) in the Agrochemicals market study has been represented from 2018 to 2026.
This Agrochemicals market study covers various perspectives of the market, including market dynamics, value chain analysis, competition analysis, regional and segmental growth comparison and macro-economic and industry growth analysis, along with segment-level projections in a comprehensive manner. As per the findings of the study and perspectives of industry participants, the global Agrochemicals market is projected to grow at a CAGR of 4.9% between 2018 and 2026, in terms of value. Growing agriculture industry and high demand for fertilizers and pesticides for better yield with quality are some of the factors positively impacting the uptake of Agrochemicals in the global market.
An Agrochemicals are substance that used to help manage an agriculture ecosystem, and the community of micro-organisms in farming area. The use of agrochemicals have been critical to raising crops yield. Agrochemicals include various substances such as fertilizers, pesticides, liming & acidifying agents, soil conditioners, among others. Fertilizers are the substance that are added to agriculture lands to encourage the growth of plants and to increasing crop yield. It is manufactured by synthetic chemicals, or organic living materials. Most of the fertilizers based on varying amount of the Potassium, Nitrogen, and Phosphate. Pesticides are the substances that used to reduce abundance of the presence of pests, any living thing or organisms that caused the disease or injury to crop. Although, there are many types of the pesticides are used in agriculture fields such as fungicides, herbicides, insecticides, Bactericides, and others
The PMR report on the Agrochemicals market carefully analyses the market at a regional and global level through market segmentation on the basis of key parameters such as product type, crop type, form and region. This Agrochemicals market report is structured to facilitate the reader to develop a detailed understanding of the market. The Agrochemicals market report begins with the definition of the market, followed by the market background, market dynamics and analysis of the market by key segments, regional analysis of the market and competition landscape. Each section of the Agrochemicals market report includes a quantitative and qualitative assessment of the market on the basis of historical developments, facts and key opinions collected from various industry participants through dedicated interviews and trends in the market
Agrochemicals Market: Segmentation
The Agrochemicals market report begins with an introduction of the market, which includes the market taxonomy and product definition with respect to the global Agrochemicals market assessment. In the following section, the Agrochemicals market report describes the market development background, covering industry factors and macro-economic factors affecting the Agrochemicals market for the base year considered for the study.
The next section of the Agrochemicals market report discusses the dynamics of the market such as drivers (demand and supply side), restraints, opportunities and trends impacting the market growth at a global level. Market potential for manufacturers has been presented in the following section of the same chapter. This section also includes an assessment of the impact of market dynamics on the global Agrochemicals market.
Subsequent sections of the report provide value (US$ Mn) and volume (Consumption in KT) projections for the Agrochemicals market on the basis of the above-mentioned segments at a global level. The values for the global market represented in these sections have been agglomerated by collecting data and information at the regional level.
All the above sections evaluate the present Agrochemicals market scenario and growth prospects in the global Agrochemicals market while the forecast presented in the sections assesses the market size in terms of volume and value.
Additionally, it is imperative to note that, in an inconsistent global economy, we not only conduct forecasts in terms of CAGR, but furthermore analyse the market on the basis of crucial parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the Agrochemicals market and identify the accurate opportunities available.
In order to understand the key market segments in terms of growth and demand of Agrochemicals across concerned regions, PMR has developed an attractiveness index, which will help providers identify real market opportunities.
Another significant feature of the Agrochemicals market report is the analysis of all the key segments in the Agrochemicals market, sub-segments and the regional adoption and revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales and delivery perspective in the Agrochemicals market.
In the concluding section of the Agrochemicals market report, a competitive landscape of the Agrochemicals market has been included to provide report audiences with a dashboard view, categorised on the basis of providers present in the value chain, their presence in the Agrochemicals market and key differentiating factors and strategies. The primary category of providers covered in the report includes Agrochemicals manufacturers. This section in the Agrochemicals market report is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the Agrochemicals market. Examples of some of the key competitors covered in this report include BASF SE, Bayer AG, DowDuPont, FMC Corporation, DuSolo Fertilizers, Yara International ASA, Israel Chemicals Limited (ICL), The Mosaic Company, WinHarvest Pty Ltd, Syngenta AG, Nutrient Ltd., PhosAgro, Saudi Arabia Fertilizer Company(SAFCO), OCI N.V., S.A OCP, Jordan Abyad Fertilizers and Chemicals Company, K+S KALI GmbH, Heringer.