Meticulous Research®, a prominent global market research firm, has published its latest report titled, “Agrochemicals Market by Type (Fertilizers, Synthetic Chemicals, Biological Chemicals, Biostimulants, Plant Growth Regulators), Form (Dry, Liquid), Mode of Application (Seed Treatment, Soil Treatment, Fertigation), Crop Type - Global Forecast to 2030.”
The agrochemicals market is projected to reach a market value of $338.49 billion by 2030, growing at a CAGR of 4.0% from 2024 to 2030.
The market is driven by several key factors, including the growing demand for cost-effective crop protection solutions, the need to enhance crop yield and quality, and the rising adoption of organic farming practices. Furthermore, environmental concerns and a focus on sustainable soil management practices have increased the demand for soil conditioners. Government initiatives promoting biopesticides are also gaining momentum, especially in emerging economies in Asia-Pacific and Latin America, where significant growth opportunities are expected. However, stringent regulatory frameworks, high reliance on synthetic fertilizers, and a lack of farmer education and awareness pose challenges to the market’s growth. The lengthy and complex product registration and approval processes further impede market expansion.
Meticulous Research® offers a detailed analysis of the agrochemicals market, presenting historical data from 2021 and 2022, current estimates for 2024, and forecasts through 2030. The market is segmented by type, form, mode of application, crop type, and geography.
The market is segmented by type into fertilizers, synthetic crop protection chemicals, biological crop protection chemicals, biostimulants, plant growth regulators, soil conditioners, and others. Fertilizers are expected to dominate the market in 2024, driven by the rising demand for essential products such as anhydrous ammonia, ammonium nitrate, and urea. Government initiatives promoting sustainable agriculture and advanced farming practices, such as drip irrigation, further support this segment. The depletion of essential nutrients in the soil due to the use of harmful chemicals has also led to reduced agricultural productivity, driving the demand for fertilizers.
Meticulous Research® segments the market by form into dry and liquid forms. The dry form segment is anticipated to hold the largest market share in 2024, largely due to its widespread adoption, particularly in synthetic fertilizers for agriculture and lawn applications. The segment’s growth is supported by the long-lasting efficacy of dry agrochemicals in various climates.
Key Players
The key players operating in the agrochemicals market include BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (U.S.), FMC Corporation (U.S.), Novozymes A/S (Denmark), Nufarm Limited (Australia), Syngenta AG (A Part of China National Chemical Corporation/Chemchina) (Switzerland), UPL Limited (India), Sumitomo Chemical Co., Ltd. (Japan), Jiangsu Yangnong Chemical Co. Ltd. (China), Loveland Products, Inc. (A Part of Nutrien AG Solutions) (U.S.), Eastman Chemical Company (U.S.), Evonik Industries AG (Germany), American Vanguard Corporation (U.S.), Koppert B.V. (Netherlands), Gowan Company LLC (U.S.), Biolchim SPA (Italy), Lallemand Inc. (Canada), ADAMA Agricultural Solutions Ltd. (Israel), and Isagro S.p.A. (Italy).
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Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of type, form, mode of application, crop type, and geography?
- What is the historical market size for agrochemicals across the globe?
- What are the market forecasts and estimates for the period 2024–2030?
- What are the major drivers, restraints, opportunities, and challenges in the agrochemicals market?
- Who are the major players in the market, and what are their market shares?
- Who are the major players in various countries, and what are their market shares?
- How is the competitive landscape for the agrochemicals market?
- What are the different strategies adopted by the major players in the agrochemicals market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the agrochemicals market, and how do they compete with other players?
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