Europe Agrochemical and Pesticide Market were worth USD xxx billion in 2021 and estimated to be growing at a CAGR of xxx%, to reach USD xxx billion by 2026.
An agrochemical or agrichemical, a varied nomenclature for agricultural chemical is as the name suggests, a chemical substance used to aid in cultivation or its concerned activities. The range of products may vary from herbicides and insecticides to fungicides and nematicides. Other substances which also fall under it include hormones, antiseptics, and other chemical growth-enhancing or inhibiting agents.
A pesticide is in general any substance that kills or adversely affects the life cycle of organisms that are considered to have an adverse effect on crop cultivation. The potential list of target pests can include insects, plant pathogens, weeds, molluscs, birds, mammals, fish, nematodes, and microbes that destroy property, cause nuisance, or spread disease, or are disease vectors. The management of such pests and the manufacture of chemicals used for the same purpose has turned out to be a multi-million-dollar industry.
Europe Agrochemical and Pesticide Market Drivers:
The growth of the agrochemical and pesticide market is mainly driven by increasing health awareness among consumers and the increased demand for food production. Consumers are also demanding different varieties of agrochemicals that are organic and eco-friendly. Other drivers of the market include the lack of arable land, favorable government policies towards agriculture, and technological advancements and research done in the field. In spite of the numerous advantages, the market still continues to be hampered by the lack of unified standards for safety as well as pricing.
Europe Agrochemical and Pesticide Market - By Application:
Agricultural
The Market is Geographically divided into:
Europe:
The European region has the second-highest market share globally only behind the likes of North America, albeit with a low CAGR rate. The low growth rate of the region can be attributed to the fact that most countries in the region are at their pinnacle of development and the room to grow is fast decreasing.
Key Players:
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