Agrochemical And Pesticide Market By Application 2023
Added: (Thu Jun 13 2019)
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Agrochemicals market is estimated to reach $276, 374 million by the end of 2022, registering a CAGR of 4.6%. Agrochemicals are mainly designed chemical products for use in agriculture to improve crop productivity and protect the crops from pests, insects, weeds, fungi, and others. Agrochemicals can be produced in both chemical as well as biological methods. Artificial agrochemicals are a danger for the environment and are slowly being replaced by bio-based pesticides and fertilizers.
Market drivers and restraints:
The world agrochemicals market is boosted by the high population and subsequent rise in the demand for food; soil degradation restricted agricultural land, and rise in awareness in the consumers regarding the advantages of agrochemicals. Nevertheless, the pollution caused by artificial agrochemicals is estimated to hamper market growth throughout the forecast period. The development of safe alternatives like organic pesticides and bio-farming are causing a threat to the market. It has been found the prolonged utilization of agrochemicals has adversely affected the health of the customers and also the environment. Cancer, diabetes, autism, Alzheimer’s, and asthma are some of the diseases linked to the prolonged use of agrochemicals. In addition to that, agrochemicals get accumulated on the land surface and may also contaminate groundwater.
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Report segmented as:
Based on geography, the agrochemicals market is segregated across North America, Europe, Asia-Pacific, and Latin America and the Middle East and Africa. Asia-Pacific accounted for the most significant share of the agrochemicals market, owing to high agricultural activities in this region. Nevertheless, France is the largest market in Europe.
Important market players:
Major players profiled in this report include Agrium Inc. (Canada), Bayer AG (Germany), BASF SE (Germany), Dow AgroSciences LLC (U.S.), E. I. du Pont Nemours and Company (U.S.), Monsanto Company (U.S.), Sumitomo Chemical Co. (Japan), Syngenta AG (Switzerland), The Mosaic Co. (U.S.), and Yara International ASA (Norway).
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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