Classified in: Environment, Health, Science and technologySubject: SVY
High Need for Improved Crop Protection and Agricultural Efficiency Widening Application Scope of Agrochemicals.
ROCKVILLE, Md., July 30, 2024 /PRNewswire/ — According to a newly published industry analysis by Fact.MR, a market research and competitive intelligence provider, the global Agrochemical Market is projected to reach a value of US$ 269.3 million in 2024. Revenue from the sales of agrochemicals has been forecasted to increase at a CAGR of 5.1% from 2024 to 2034.
Constantly increasing demand for crop protection and agricultural effectiveness is stimulating the consumption of agrochemicals. They are used for protecting crops from weeds, diseases, and pests. Increased need for improved agricultural productivity, higher crop yield, decreasing arable land, and population growth are contributing to the growing demand for agrochemicals. Surging demand for vegetables and fruits is leading to the judicious consumption of agrochemicals, such as fertilizers and pesticides, for higher yields with quality standards and high food safety. Growing production of sustainable and bio-based agrochemicals with less toxic ingredients is helping in organic farming and matching the requirements of farmers seeking environment-friendly solutions.
East Asia is the leading regional market for agrochemicals, with North America and Europe not doing too badly. Pesticides account for more than half of overall agrochemical sales at present, though the demand for other products such as soil conditioners and acidifying agents is expected to increase much faster over the coming years.
For More Insights into the Market, Request a Sample of this Report:
Key Takeaway from Agrochemical Market Study:
The global market for agrochemicals has been forecasted to increase to a size of US$ 442.9 million by the end of 2034.East Asia is estimated to capture a share of 38.4% of the global market by 2034-end.Demand for agrochemicals in Japan is expected to increase at a CAGR of 6% from 2024 to 2034.Sales of agrochemicals in South Korea are analyzed to rise at 3.2% CAGR through 2034.Worldwide demand for fertilizers is projected to increase at a CAGR of 6% and reach a market value of US$ 131.1 million by the end of 2034.The market in Canada is projected to expand at 6.8% CAGR from 2024 to 2034.”Incorporating sustainability in agrochemical production is helping market players in resource conservation and reducing environmental impacts, thereby increasing profit share,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Agrochemical Market:
Some of the leading agrochemical manufacturers are BASF SE, Nutrien Ltd., Bayer AG, YARA International ASA, Israel Chemicals Ltd., The Mosaic Company, PhosAgro, Fengro Industries Corp., DowDuPont Inc., Fertilizates Heringer S.A., Syngenta AG, Saudi Arabia Fertilizer Company, FMC Corporation, OCI N.V., WinHarvest Pty Ltd., Nufarm Ltd., and The Archer-Daniels-Midland Company.
High Demand for Pesticides for Ensuring Security of Food Products from Diseases and Infections
Worldwide demand for pesticides is projected to increase at a CAGR of 3.9% and reach a market value of US$ 219.7 million by the end of 2034. They are utilized for protecting crops from weeds, diseases, and pests. Herbicides, insecticides, and fungicides are further sub-segments of pesticides. In addition, these chemicals are vital for ensuring the security of food products by preventing crop losses because of diseases and pest infestations.
Agrochemical Industry News:
In 2022, Corteva Inc. developed a new postemergence herbicide for maize called Kyro. It is the first product on the market to combine acetochlor, topramezone, and clopyralid, among other active chemicals, into a single premix. This recently created solution offers longer residual control by combining efficiency modes to handle approximately 65 of the most challenging and weed-resistant spices.In January 2022, Lantmannen and Yara International ASA signed a contract to introduce fertilizers devoid of fossil fuels. A business agreement was reached as a result of this partnership for green fertilizers, which will be produced by Yara and sold by Lantmannen.Get Customization on this Report for Specific Research Solutions:
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product Type:
FertilizersPesticidesOthersGlobal Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Usage:
CerealsPulses & OilseedsFruits & VegetablesLawns & TurfsMore Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the agrochemical market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on product type (fertilizers [nitrogen-based, potassium-based, phosphorous-based, others], pesticides [insecticides, fungicides, herbicides, bactericides, others], others [soil conditioners, acidifying agents]) and usage (cereals pulses & oilseeds, fruits & vegetables, lawns & turfs, others), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
Check out More Related Studies Published by Fact.MR Research:
Potash Fertilizers Market is expected to expand at a CAGR of 5.4% to reach a market valuation of US$ 48.9 billion by 2032.
Crop Protection Chemicals Market is expected to grow at a CAGR of 4.6% to reach US$ 125.2 billion by 2033.
Foliar Fertilizers Market to grow at an average annual growth rate of ~4% over the assessment period of 2019-2029.
Seaweed Bio-fertilizers Market is projected to reach a valuation of $30.5 Mn by 2032, expanding at a CAGR of 8% through the forecast period of 2022-2032.
Chlorpropham Market is estimated to be valued at US$ 94.6 million in 2023 and it is anticipated to grow at a CAGR of 4.1% to reach US$ 141.4 million by the end of 2033.
Controlled Release Fertilizer Market is projected to reach US$ 5.4 Billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 5.0%.
Agricultural Film Sales Outlook for North America are pegged at US$ 1.34 billion in 2023 and are projected to increase at a CAGR of 3.9% to reach US$ 1.97 billion by 2033.
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact: US Sales Office: 11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Tel: +1 (628) 251-1583 Sales Team:?[email protected] Follow Us:?LinkedIn?|?Twitter?|?Blog
SOURCE Fact.MR
These press releases may also interest you
at 04:05
Celonis, the global leader in Process Mining and Process Intelligence, today announced the launch of its Celonis Platform Apps Program, which enables companies to achieve unrivaled value with domain-specific applications built by its Ecosystem…
at 04:00
The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, together with Mike Kelloway, Member of Parliament for Cape Breton?Canso, will make a funding announcement on clean hydrogen trade with Germany. A media availability will…
at 02:00
The NX Group, one of the world’s leading logistics providers, on Wednesday, July 31, published the NX Group Integrated Report 2024 and NX Group Sustainability Data Book 2024 detailing initiatives to make the group’s businesses even more global,…
at 01:43
Allied Market Research published a report,…
30 jui 2024
Risen Energy has once again set a new benchmark for its global shipment of solar modules. Recently, it announced a monthly supply of 3 to 5 MW of its cutting-edge heterojunction (HJT) Hyper-ion modules to Pakistani EPC customers for the construction…
30 jui 2024
The increased incidence and intensity of wildfires in Canada and around the world puts children at risk. Experts shared perspectives on the specific challenges of wildfires on children today at UNICEF Canada’s roundtable on The Impact of Wildfires on…
News published on 30 july 2024 at 10:10 and distributed by: