Agrochemicals market to exceed $315.3 billion by 2030 and to grow at a CAGR of 2.9% from 2021 to 2030. The report offers key drivers that propel the growth in the global agrochemicals market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.   

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The agrochemicals market is segmented into type and region. By type, it is categorized into fertilizers and pesticides. By fertilizers, the market is bifurcated into synthetic and biofertilizers. By pesticides, the market is categorized into insecticides, herbicides, fungicides, and other pesticides. By region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.  

Agrochemicals Market growth is driven by rise in population base along with increasing demand for food, limited agricultural land, issues such as soil erosion and degradation, and surge in awareness among end-users regarding the benefits of agrochemicals. Moreover, conservation of genetic material of endangered plant species supplemented the market growth. However, lack of education and awareness among farmers and efficient distribution systems, high losses in the post-harvest of crops, and environmental and health concerns regarding use of agrochemicals hinder the market growth. On the contrary, rise in disposable income, increase in spending on improving quality of crops, and development and production of novel eco-friendly agrochemicals are expected to open new opportunities for the market players in the future. 

The major types of agrochemicals are insecticides, pesticides, herbicides, fertilizers, soil conditioners, and fungicides. When insects, animals, and fungal species are attracted to the source of food, it can drastically reduce the supply of that plant. Thus, a large number of agrochemicals are used. Recently, the demand for natural fertilizers has increased significantly due to the rise in popularity of organic farming, which avoids the use of synthetic agrochemical varieties. 

Based on type, the pesticides segment is projected to register the highest CAGR of 3.6% during the forecast period. However, the fertilizers segment held the largest share in 2020, accounting for more than two-thirds of the market. 

The global agrochemicals market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. By region, Asia-Pacific has the dominant market share in 2020 and is anticipated to maintain its dominance during the forecast period. This is attributed to numerous factors such as a huge consumer base and the presence of key players in the region. Moreover, Asia-Pacific is anticipated to grow at a noteworthy rate owing to rise in end users in developing countries such as China, Australia, and India. 

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Key Market Players 

Other players operating in the value chain of the global agrochemicals market are Makhteshim Agan Industries Ltd., CF Industries Holdings Inc., Jordan Abyad Fertilizers & Chemicals Company, K+S AG, Uralkali, ADAMA Agricultural Solutions Ltd., Nufarm Ltd., IFFCO, SQM, American Vanguard Corporation, Haifa Group, Zuari Agro Chemicals Ltd., Gharda Chemicals Limited, Valent USA Corp., United Phosphorus, Ltd., Rotam Cropsciences, Inc., Qatar Fertiliser Co., Ltd., Koch Minerals Co., LLC, Arysta Lifescience Corp., Drexel Chemical Co., and CF Industries, Inc. 

Covid-19 scenario: 

• The Covid-19 pandemic had a negative impact on the supply chain for several agrochemical products. 
• Moreover, the market is expected to recover soon due to rise in food grain production across the globe. 
• The downward pressure on global economy and disrupted supply chain has a negative impact on the market. 
• The report segments the global agrochemicals market on the basis of type and region. 

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Agrochemicals Additives Market 

Agricultural Adjuvants Market 

Sodium Nitrate Market 

Agrochemical Active Ingredients Market 

Agricultural Films Market 

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

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