농업용 화학제품 시장 : 농업용 화학제품 유형별, 작물 유형별, 용도별, 지역별, 범위 및 예측

Agrochemicals Market Valuation - 2024-2031

The global population is rising, and this will put a strain on food production. Agrochemicals can help farmers improve crop yields and meet this growing demand. As people in developing countries get wealthier, they tend to spend more on food. This will lead to increased demand for crops, and in turn, for agrochemicals. The market size growth to surpass USD 275.89 Billion in 2024, to reach a valuation of USD 357.21 Billion by 2031

Precision agriculture techniques allow farmers to use agrochemicals more efficiently and effectively. This can help to reduce waste and improve crop yields. Climate change and other factors are leading to an increase in the incidence of pests and diseases. This is driving demand for new and more effective agrochemicals. The market is to grow at aCAGR of 3.62 % from 2024 to 2031

Agrochemicals Market: Definition/ Overview

Agrochemicals are chemicals used in agriculture to increase crop yield and protect plants from pests, illnesses, and weeds. They include pesticides, herbicides, fungicides, insecticides, and fertilizers. These compounds are crucial to modern farming operations, assisting in increasing output and efficiency by reducing undesired vegetation, avoiding pest infestations, and delivering essential nutrients to crops. The use of agrochemicals has considerably increased the ability to sustain large-scale food production, hence feeding the world's rising population.

However, the usage of agrochemicals poses environmental and health risks. Overreliance and inappropriate application can cause soil deterioration, water contamination, and biodiversity loss. Furthermore, exposure to certain agrochemicals can be harmful to human health, impacting both agricultural workers and customers. As a result, while agrochemicals play an important role in agricultural output, their use requires careful control and respect to safety laws to offset any negative impacts on ecosystems and human health.

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How do the Rising Demand for Food Production and Increasing Disposable Income in Developing Economies Drive Growth in the Agrochemicals Market?

The increasing population is rising the demand for food globally, this demographic strain needs an increase in agricultural output. Agrochemicals, such as fertilizers and pesticides, are critical for increasing crop yields and guaranteeing food security. Fertilizers provide critical nutrients to the soil, whereas pesticides protect crops against damaging pests and diseases, allowing farmers to produce more food on the same acreage. As countries progress economically, their inhabitants' disposable income tends to increase. This increase in affluence causes increased food intake, both in quantity and quality. As a result, the demand for high-yield and high-quality crops rises, increasing the requirement for agrochemicals. Farmers in these emerging countries invest more in agricultural inputs to fulfill expanding market demands, which drives the agrochemicals market.

Overfarming, deforestation, and climate change have all contributed to soil degradation and reduced arable land availability. Agrochemicals play an important role in addressing these difficulties. Fertilizers help to replace depleted soil nutrients while also enhancing soil fertility and structure. Pesticides and herbicides keep pests and weeds at bay, allowing the limited arable land to be exploited to its full potential. Precision farming is becoming increasingly popular, involving the use of advanced technology such as GPS, IoT, and data analytics to better manage crops and soil health. This method enables for more exact application of agrochemicals, which reduces waste and environmental impact. Farmers can dramatically increase crop yields while limiting harmful environmental consequences by targeting specific areas and applying the appropriate amount of chemicals. This development is increasing the demand for agrochemicals designed for precision agriculture.

Concerns about the environment and the negative effects of synthetic chemicals are pushing a shift toward bio-based and organic agricultural chemicals. These eco-friendly alternatives are sourced from natural sources and pose fewer risks to the environment and human health. The growing consumer preference for organic produce and sustainable agricultural practices is generating a new and expanding market niche in the agrochemicals business, promoting more innovation and development of bio-based products. Climate change is causing unpredictable weather patterns, which can worsen pest and disease outbreaks. Furthermore, pests' resistance to standard insecticides necessitates the development of more efficient crop protection options. Agrochemicals are critical in tackling these difficulties because they provide strong and innovative solutions that protect crops against new and emerging dangers, resulting in stable and secure agricultural production.

How Do Shifting Consumer Preferences and the Rise of Organic Farming Hinder the Expansion of the Agrochemicals Market?

In recent years, consumer attitudes have shifted significantly toward healthier and more environmentally sustainable food options. Concerns about the potential health dangers and environmental impact of conventional agrochemicals have driven up demand for organic produce. This movement presents a threat to the agrochemical business, as organic farming practices typically eliminate or severely limit the use of synthetic fertilizers and pesticides. As a result, the growing popularity of organic products puts significant pressure on the conventional agrochemicals sector, forcing producers to adjust to shifting consumer needs Governments around the world are enacting increasingly stringent laws governing the use and manufacturing of agrochemicals. These laws are frequently driven by environmental and public health concerns, such as soil and water contamination, biodiversity loss, and potential health risks to humans and animals. Compliance with these severe requirements may limit the availability and usage of agrochemicals, increase manufacturing costs, and necessitate significant investment in R&D to discover safer and more ecologically friendly alternatives. This regulatory framework presents considerable challenges for agrochemical companies.

Pest and disease resistance can develop over time when specific agrochemicals are used extensively and repeatedly. This resistance reduces the effectiveness of the herbicides, providing a significant challenge for farmers who rely on these agents for crop protection. As a result, there is an ongoing need to produce new and more effective agrochemicals, which greatly increases research and development expenses. As a result, the dynamic nature of pest and disease resistance might undermine the agrochemicals market's stability and predictability. Many farmers, particularly those in developing nations, find agrochemicals, particularly newer and more potent formulations, too expensive. The high cost of these products may limit their use, as farmers may be unable to afford them or may want to use them sparingly. Furthermore, agrochemical availability can be unequal, with some regions having difficulty getting these products due to inadequate distribution networks, regulatory hurdles, or supply chain concerns. Collectively, these issues limit agrochemical market growth and adoption rates.

The public's understanding and worry about the possible health dangers and environmental repercussions of various agrochemicals has grown. High-profile contamination incidents, health issues, and poor environmental effects can all result in bad press and consumer backlash against agrochemical goods. This bad view has the potential to lower market demand, provoke stronger regulatory scrutiny, and possibly result in the ban of specific substances. To ensure market stability, the agrochemical industry must address safety concerns constantly and control public opinion. There is a rising emphasis on sustainable agriculture techniques that reduce environmental impact while increasing long-term agricultural productivity. Crop rotation, cover cropping, and integrated pest management are examples of natural farming approaches that use fewer chemicals. As these sustainable practices gain popularity, they frequently lead to a reduction in reliance on conventional agrochemicals. This shift toward sustainability poses a challenge for the agrochemical industry, which must adjust to shifting farming practices that promote lower chemical use.

Category-Wise Acumens

How Do Increasing Pest and Disease Pressure and Technological Advancements Drive the Growth of the Pesticides Segment in the Agrochemicals Market?

The Pesticide segment is showing substantial growth in the Agrochemicals market and is expected to continue its growth throughout the forecast period. Climate change, combined with the globalization of trade, has resulted in the introduction, and spread of pests and diseases to formerly uninhabited places. Invasive species, such as the autumn armyworm, have spread over Africa, Asia, and Australia, causing extensive agricultural damage. Farmers are becoming increasingly reliant on pesticides to combat these growing concerns, resulting in significant growth in the pesticide industry. The pesticide market is benefiting from significant advances in pesticide formulation and application technology. New pesticide formulations, such as systemic and translaminar, provide longer-lasting and more effective pest control by being absorbed and circulated throughout the plant. Furthermore, the advent of precision agriculture technologies, such as GPS-guided sprayers and drones, enables tailored applications, lowering waste and environmental effects while increasing efficacy.

As consumer demand for organic and sustainable agricultural goods grows, biopesticide development and use has increased. These natural insecticides, generated from bacteria, fungi, and plants, are thought to be safer than synthetic chemicals. Bacillus thuringiensis (Bt) is a popular biopesticide that kills certain pests without affecting beneficial insects or the environment. The biopesticides market is quickly developing, owing to governmental support and customer demand for environmentally friendly goods. Governments around the world recognize pesticides' critical role in ensuring agricultural production and food security. Many offer financial assistance and subsidies to farmers who purchase pesticides. For example, in India, the government provides subsidies for pesticide purchases through several agricultural initiatives. This financial assistance helps farmers decrease their costs, encourages pesticide use, and stimulates market expansion.

Farmers are becoming more aware of the necessity of pest management in maximizing agricultural output and quality. Governments, non-governmental organizations, and agrochemical firms give extension services and educational programs to farmers to help them understand the benefits and safe use of pesticides. Farmers' adoption rates are increasing as they learn more about integrated pest management (IPM) strategies and the proper use of pesticides, which contributes to market growth. The agrochemical sector has consolidated significantly, with large players such as Bayer, Syngenta, and BASF investing extensively in R&D. This consolidation enables the pooling of resources and knowledge, resulting in the creation of revolutionary pesticide solutions that are both effective and environmentally beneficial. These innovative solutions address farmers' growing needs and regulatory requirements, hence driving market growth.

How Do Early Protection for Crops and Cost-Effectiveness Contribute to the Expansion of the Seed Treatment Segment in the Agrochemicals Market?

The Seed Treatment segment is significantly leading in the Agrochemicals market. Seed treatment is the process of applying chemical or biological agents directly to seeds prior to planting. This approach offers early and targeted protection against a wide range of pests and diseases, protecting the seedling at its most vulnerable growth stages. This early action helps plants establish themselves more robustly, resulting in better crops and higher yields. For example, treatments can shield seeds from soil-borne viruses, ensuring that illnesses do not jeopardize seedling health from the start. Seed treatments are more cost-effective than foliar sprays and soil treatments. Farmers use fewer agrochemicals when treating seeds directly, lowering overall input costs. This strategy is particularly useful for small-scale farmers and those in developing countries with limited financial resources. Additionally, treated seeds frequently necessitate fewer subsequent pesticide applications, significantly cutting costs.

Seed treatments considerably reduce the environmental impact of agricultural methods. Because treatments are administered directly to the seedlings, there is less chemical runoff in the soil and nearby water bodies. This focused strategy decreases the possibility of environmental pollution and the influence on non-target organisms, so encouraging more sustainable farming methods. For example, the precise application requires fewer pesticides for effective pest and disease control, resulting in a smaller environmental imprint. Many seed treatments contain chemicals that improve germination and encourage strong early growth. Growth enhancers and micronutrients added to seed coatings can increase seedling vigor, allowing plants to build stronger root systems and tolerate environmental stressors including drought and poor soil conditions. This results in healthier, more resilient crops, which can dramatically boost total agricultural productivity.

Seed treatments frequently include fungicides and insecticides to defend against soil-borne and early-season illnesses and pests. This early protection is crucial in preventing the development of illnesses in the field, which can result in considerable crop losses if not controlled. By reducing these hazards at the seed stage, farmers may ensure more uniform and healthy crop development, resulting in higher yields and higher-quality produce. Seed treatment is compatible with modern farming practices, including precision agriculture. Treated seeds can be readily incorporated into automated planting systems, resulting in consistent treatment and optimal seed placement. Precision planters, for example, can plant treated seeds at the precise depth and spacing required for maximum growth, increasing efficiency and crop performance. This compatibility with advanced farming methods promotes the broad use of seed treatments.

Agrochemicals

Market

Report Methodology

Country/Region-wise Acumens

How Do Advanced Agricultural Practices and High Adoption of Technology in North America Drive the Growth of the Agrochemicals Market?

North America is estimated to dominate the agrochemicals market during the forecast period. North America, particularly the United States and Canada, use complex agricultural practices such as precision farming, integrated pest management, and genetically modified crops. These techniques necessitate considerable use of agrochemicals to enhance efficiency and yields, resulting in high output. The region is at the forefront of agrochemical technology adoption and innovation. For example, using new pesticide formulations, herbicide-tolerant crops, and digital farming tools improves productivity and sustainability. The use of drones and satellite photography to precisely apply agrochemicals exemplifies this trend. North America has a strong research and development infrastructure that is funded by private corporations, universities, and government agencies. Major agrochemical companies invest extensively in R&D to create new products and enhance old ones. This continual innovation produces more effective, environmentally friendly agrochemicals.

The presence of large-scale commercial farming activities in North America drives up the demand for agrochemicals. To effectively maintain crops on these large farms, huge volumes of fertilizer, herbicides, and insecticides are required. Large farms' financial capabilities enable them to invest in high-quality agrochemical goods. North America has a strict but supportive regulatory framework. The Environmental Protection Agency (EPA) in the United States ensures that agrochemicals meet stringent safety and efficacy standards. This regulatory system encourages responsible use of agrochemicals while also promoting market expansion. North America has one of the highest agrochemical usage rates in the world. Intensive agricultural methods and the production of high-value products, such as fruits, vegetables, and cereals, need the widespread use of fertilizers and pesticides, which drives market demand.

Several significant agrochemical businesses are headquartered in North America, notably Monsanto (now part of Bayer), DowDuPont, and FMC Corporation. These organizations achieve market leadership through vast product offers, innovation, and large R&D investments. Government policies and subsidies in North America provide major support to the agricultural sector. Programs that give financial assistance for agrochemical purchases aid farmers in controlling expenses and increasing crop yields. For example, the farm bill passed by the United States government has clauses that encourage the use of agrochemicals. North America's agriculture sector is heavily export-oriented, producing enormous amounts of grains, fruits, vegetables, and other crops for international markets. To maintain competitive quality and productivity standards, farmers use agrochemicals to protect crops and increase yields, hence promoting market expansion.

How Do Rapid Population Growth and Agricultural Expansion in the Asia Pacific Region Propel the Rapid Expansion of the Agrochemicals Market?

The Asia Pacific region is estimated to exhibit the highest growth within the agrochemicals market during the forecast period. The Asia-Pacific area is witnessing tremendous population expansion, which is driving up food consumption. Countries such as China and India are under pressure to produce more food, resulting in a greater need for agrochemicals to enhance crop output and satisfy expanding demand. Many Asia-Pacific countries are increasing their agricultural production. For example, the Indian government has launched projects to double farmers' incomes by increasing crop production, which requires considerable usage of agrochemicals. Similarly, China's efforts to modernize agriculture involve increasing the use of fertilizers and pesticides. The region's governments are implementing a variety of programs to support agriculture. Agrochemical purchases are often subsidized, as are farmer training programs and research into new agricultural technologies. For example, India's Pradhan Mantri Fasal Bima Yojana (PMFBY) offers insurance and incentives to promote the use of agrochemicals.

Modern farming practices, such as precision agriculture and integrated pest management, are being adopted more widely in the Asia Pacific area. These approaches rely on agrochemicals to manage crops more efficiently and increase yields. Precision farming, for example, is being used to optimize pesticide use in nations such as Japan and Australia. Increasing disposable incomes in growing nations like China, India, and Southeast Asia are driving up agricultural investment. Farmers with more money can purchase high-quality agrochemicals, which increase production and profitability. Farmers in the region are becoming more aware of and educated about the benefits of agrochemicals in terms of crop health and productivity. Extension services and training programs help farmers understand how to use agrochemicals effectively and safely, resulting in more uptake.

Economic liberalization and improved access to global markets have encouraged foreign agrochemical businesses' entry into the Asia-Pacific area. This has introduced new items and technologies to local farmers. To meet rising demand, global corporations are establishing local manufacturing facilities and distribution networks. The region is dealing with substantial climate change-related issues, such as increased pest infestations and crop illnesses. Warmer temperatures and shifting precipitation patterns, for example, are worsening pest problems in India and Vietnam, respectively. Agrochemicals provide critical solutions to these problems, increasing demand. The Asia Pacific area is seeing an increase in agricultural research and development investment. Governments and private enterprises are working to provide region-specific agrochemical solutions that solve local agricultural difficulties and conditions. For example, China and India are investing in research to create pest-resistant crop types and effective pesticide remedies.

Competitive Landscape

The Agrochemicals Market's competitive landscape is defined by the dominance of big global firms such as Bayer AG, Syngenta AG, BASF SE, and Corteva Agriscience, which excel in innovation and have broad product portfolios. These companies invest extensively in R&D to create cutting-edge, environmentally friendly agrochemical products. Regional firms provide substantial contributions to the market, particularly in rising markets like Asia Pacific, where companies like as UPL Limited and Nufarm Limited are extending their footprint. Companies frequently form strategic partnerships, merge, and acquire to improve their market positions and expand their geographic reach. Furthermore, there is a growing tendency toward the development and use of bio-based agrochemicals, which is being driven by increased regulatory demands and consumer demand for environmentally friendly farming techniques.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the agrochemicals market include:

• Bayer Crop Science
• Syngenta AG
• BASF SE
• Dow Chemical Company
• Corteva Agriscience (Formerly DuPont)
• FMC Corporation
• UPL Limited
• China National Chemical Corporation (ChemChina)
• Sumitomo Chemical Co., Ltd.
• The Mosaic Company
• Agrochemicals Market Latest Developments:
• In March 2024: Bayer Crop Science announced the launch of its new bio-based fungicide, Serenade ASO, aimed at improving plant health and disease resistance through natural microbial activity.
• In January 2024, Syngenta announced a new herbicide, Acuron(R) GT, designed to provide enhanced weed control in corn crops, leveraging multiple modes of action to prevent resistance.
• In February 2024, BASF SE announced Revysol(R), a new fungicide that offers broad-spectrum disease control in a variety of crops. Revysol(R) is noted for its innovative molecular structure that ensures consistent performance.
• In April 2024, Dow Chemical Company, through its subsidiary Corteva Agriscience, announced a new insecticide, Transform(R) WG, targeting key pests in cotton and soybean crops with minimal impact on beneficial insects.

TABLE OF CONTENTS

1. Introduction

• Market Definition
• Market Segmentation
• Research Methodology

2. Executive Summary

• Key Findings
• Market Overview
• Market Highlights

3. Market Overview

• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter's Five Forces Analysis

4. Agrochemicals Market, By Type of Agrochemicals

• Fertilizers
• Pesticides

5. Agrochemicals Market, By Crop Type

• Cereals & Grains
• Fruits & Vegetables
• Oilseeds & Pulses
• Others

6. Agrochemicals Market, By Mode of Application

• Foliar Spray
• Soil Treatment
• Seed Treatment
• Post-harvest Treatment

7. Regional Analysis

• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE

8. Market Dynamics

• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market

9. Competitive Landscape

• Key Players
• Market Share Analysis

10. Company Profiles

• Bayer CropScience AG
• BASF SE
• Corteva Agriscience
• Yara International ASA
• Adama Agricultural Solutions Ltd.
• Arysta Lifesciences Corporation
• America Vanguard Corporation
• Jiangsu Yangnong Chemical Group Co. Ltd
• The Dow Chemical Company
• Sumitomo Chemical Co. Ltd
• Nufarm Limited

11. Market Outlook and Opportunities

• Emerging Technologies
• Future Market Trends
• Investment Opportunities

12. Appendix

• List of Abbreviations
• Sources and References