Overview:

Agrochemicals or agricultural chemicals can be categorized as chemical products with a specific application as supplements for plant growth. The global Agrochemicals Market has the potential to register a moderate 4% hike to reach and surpass a valuation market of USD 300 billion between 2019 and 2024, which has been covered as the forecast period by Market Research Future (MRFR). The year 2020 would be crucial for the market in many ways as the constantly shifting consumer patterns are influencing the market and can change the direction of the market growth. Major agrochemical products are pesticides, synthetic fertilizers, and hormones. These chemicals find substantial application in the market as yield booster. For instance, these components are known for their ability to increase production, ensure better quality, protect crops, reduce waste, and others. With rapidly depleting arable lands, their inclusion is fast becoming a necessity. Increased knowledge about the production process, its usage, growing competition among players, the launching of new products, reduction of prices, inclusion of subsidies can assist the agrochemicals industry and market in achieving growth.

However, the agrochemicals market has several hurdles. For instance, its impact on the environment is not as positive as the chemicals used in the process can harm the soil or water associated with the farming process. In addition, the intake of such crops can lead to various health hazards. It can increase the level of toxicity in the environment owing to which several countries are refraining their farmers from using such products.

Competitive Analysis:

Bayer CropScience (Germany), Syngenta AG (Switzerland), Corteva (US), Monsanto (US), BASF SE (Germany), China National Chemical Corp (China), United Phosphorus Limited (India), Nufarm Limited (Australia), ADAMA Agricultural Solutions (Israel), The Mosaic Company (US), Sumitomo Chemical (Japan), Crystal Crop Protection Pvt. Ltd. (India), Yara (Norway), Arysta LifeScience Corporation (Japan), and Murugappa Group (India) are companies known for their extensive contribution in the global agrochemicals market. MRFR’s analysis included their recent moves to make an assumption about how the market is performing and trends that can boost the outcome.

Segmentation

The global agrochemicals market share has been segmented by MRFR in their report to facilitate a detailed study. This study includes segments like type, mode of application, and crop type. Insights gained from it would help in deciding various strategies and ensuring better growth for the market.

By type, the global report on the agrochemical market products includes pesticides, fertilizers, and others. The pesticide segment has been sub-segmented into fungicides, insecticides, herbicides, and others. These segments are receiving the benefits of drone technology as it is helping in devising better strategies for cultivation.

By mode of application, the report on the global agrochemicals market size comprises fertigation, foliar, and others.

By crop type, the report on the global agrochemicals market discusses segments like cereals grains, oilseed pulses, fruits vegetables, others. All these segments are creating huge demand as they are getting pressurized by the population boom and its requirement for food.

Browse Full Report @ https://www.marketresearchfuture.com/reports/Agrochemicalss-market-1267

Regional Analysis:

The Asia Pacific region is slated to score high in the coming years as most of the countries from the region are known for their agrarian economy. These countries are also including the latest technologies to keep themselves updated and meet the rising demand for food supply. Such integrations are changing the way farmers used to perceive agrochemicals earlier. For instance, the growing inclusion of drone technology has made the application more precise, which changes the intake pattern.

North America and Europe are two major regions continuously trying to evolve in this sector to meet global needs. However, these two regions are also concerned about the use of chemicals as they want to build a premise that is more ecologically sustainable. Countries like the US, the UK, France, Germany, Canada, Italy, Spain, and other evolved ones are going to adopt such technologies.

Industry News

In December 2019, PI Industries Ltd. Announced that they have taken over lsagro (Asia} Agrochemicals Private Ltd (lsagro Asia), which would help the former in increasing its product portfolio.

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