Meticulous Research®, a leader in market intelligence, has published its latest report, “ Agrochemicals Market by Type (Fertilizers, Synthetic Chemicals, Biological Chemicals, Biostimulants, Plant Growth Regulators), Form (Dry, Liquid), Mode of Application (Seed Treatment, Soil Treatment, Fertigation), Crop Type - Global Forecast to 2030.”

The agrochemicals market is projected to achieve a market value of $338.49 billion by 2030, growing at a CAGR of 4.0% from 2024 to 2030.

Several key drivers are contributing to this growth, including the escalating demand for affordable crop protection solutions, the need to enhance crop yield and quality, and the increasing shift towards organic farming. Additionally, environmental concerns and the growing focus on sustainable soil management practices have spurred the demand for soil conditioners. Government policies favoring biopesticides are also on the rise, particularly in rapidly developing regions like Asia-Pacific and Latin America, where robust growth opportunities are anticipated. However, the market faces significant challenges, including stringent regulations, high reliance on synthetic fertilizers, and a lack of farmer education and awareness. Furthermore, the lengthy and complex processes for product registration and approval continue to impede market expansion.

Meticulous Research® provides an in-depth analysis of the agrochemicals market, presenting historical data from 2021 and 2022, current estimates for 2024, and projections through 2030. The market is segmented by type, form, mode of application, crop type, and geography.

By type, the agrochemicals market is categorized into fertilizers, synthetic crop protection chemicals, biological crop protection chemicals, biostimulants, plant growth regulators, soil conditioners, and others. The fertilizers segment is anticipated to lead the market in 2024, driven by the increasing demand for key products like anhydrous ammonia, ammonium nitrate, and urea. Government initiatives promoting sustainable agriculture and the adoption of advanced farming techniques, such as drip irrigation, are further supporting this segment. The depletion of essential soil nutrients due to the overuse of harmful chemicals has also led to reduced agricultural productivity, driving the demand for fertilizers.

The market is segmented by form into dry and liquid forms. The dry form segment is expected to dominate in 2024, mainly due to its widespread use in synthetic fertilizers for agriculture and lawn applications. The segment’s growth is supported by the long-lasting efficacy of dry agrochemicals in various climates, as well as their cost-effectiveness in production, transportation, and storage. Additionally, dry form agrochemicals can be stored for extended periods without the need for special storage facilities, providing significant cost savings for farmers and distributors.

In terms of mode of application, the agrochemicals market is segmented into seed treatment, foliar spray, soil treatment, fertigation, and others. Soil treatment is expected to be the leading segment in 2024, driven by its numerous benefits, including precise application in the plant root zone, which minimizes wastage and maximizes nutrient uptake. Soil treatment also enhances root development and reduces pest and disease pressure, making it a preferred choice among farmers. Additionally, soil treatment can rehabilitate contaminated land for agricultural use, making it a cost-effective solution for farmers.

Geographically, the Asia-Pacific region is projected to dominate the agrochemicals market in 2024, driven by rapid population growth, increasing demand for quality agricultural products, and the rising popularity of organic produce. The need for higher productivity and yield in countries like China, India, and Japan is expected to significantly increase the consumption of agrochemicals. Furthermore, the region is anticipated to register the fastest growth rate during the forecast period, supported by expanding organic farming, increased mechanization, improved irrigation facilities, and favorable government policies.

Key Players

The key players operating in the agrochemicals market include BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (U.S.), FMC Corporation (U.S.), Novozymes A/S (Denmark), Nufarm Limited (Australia), Syngenta AG (A Part of China National Chemical Corporation/Chemchina) (Switzerland), UPL Limited (India), Sumitomo Chemical Co., Ltd. (Japan), Jiangsu Yangnong Chemical Co. Ltd. (China), Loveland Products, Inc. (A Part of Nutrien AG Solutions) (U.S.), Eastman Chemical Company (U.S.), Evonik Industries AG (Germany), American Vanguard Corporation (U.S.), Koppert B.V. (Netherlands), Gowan Company LLC (U.S.), Biolchim SPA (Italy), Lallemand Inc. (Canada), ADAMA Agricultural Solutions Ltd. (Israel), and Isagro S.p.A. (Italy).

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Key Questions Answered in the Report:

• Which are the high-growth market segments in terms of type, form, mode of application, crop type, and geography?
• What is the historical market size for agrochemicals across the globe?
• What are the market forecasts and estimates for the period 2024–2030?
• What are the major drivers, restraints, opportunities, and challenges in the agrochemicals market?
• Who are the major players in the market, and what are their market shares?
• Who are the major players in various countries, and what are their market shares?
• How is the competitive landscape for the agrochemicals market?
• What are the different strategies adopted by the major players in the agrochemicals market?  
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the agrochemicals market, and how do they compete with other players?

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