The Global Agrochemicals Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, the Global Agrochemicals Market is estimated to be $234.10 billion and predicted to rise to $276.69 billion with a CAGR of 3.40%. The market is segmented type (Fertilizers-Nitrogenous, Phosphate, Micronutrient Based Fertilizers, Potassic Based Fertilizers; Pesticides-Insecticides, Fungicides, Herbicides; Plant Growth Regulators-Auxins, Cytokinins, Others; Adjuvants-Activator Adjuvants, Utility Adjuvants), and by Application (Crop Based-Oil seeds, Fruits & Vegetables, Grains & Cereals; Non Crop Based-Turf & Ornamental Grass and Others). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The growth of the Global Agrochemicals market is majorly driven by factors such as growing awareness towards the use of fertilizers and pesticides in key crop producing countries, wide range of pest control applications of Agrochemicals, and decreasing arable land. Another major factor driving the market is the globally increasing population, which leads to the need for increase in crop yield. However, safer alternatives such as bio-farming and organic pesticides, volatile economies, and various environmental and health hazards linked with agrochemicals are the major restraining factors for the market.
Nitrogenous fertilizers lead the global agrochemicals market on the basis of type. However, the demand for pesticides is increasing at a high rate, given the growing frequency of numerous pests and diseases. Currently, the Pesticides market is being spearheaded by herbicides products, trailed by fungicides and insecticides. By application, grains & cereals lead the global market for Agrochemicals and this trend is anticipated to remain during the forecast period.
Asia Pacific has been leading the global agrochemicals market and this trend is projected to stay in the near future. North America is the second major consumer of agrochemicals, followed by Europe. Demand for agrochemicals in North America and Europe is expected to grow at a slow rate mainly due to market maturity and regulatory restrictions. Growing demand for agrochemicals in South America is anticipated to offer huge growth prospect for the market.
The global market for agrochemicals is extremely consolidated and streamlined owing to the domination of the market by a handful of companies. Some of the major companies dominating this market are Bayer Crop science., Dow-DuPont, Syngenta AG, BASF SE, Agrium Inc., Monsanto Company, Israel Chemicals Ltd., Yara International ASA, Mosaic Company and Sociedad QuÃmica Y Minera S.A.
Browse through the full report at â€œhttp://www.marketdataforecast.com/market-reports/global-agrochemicals-market-972/â€ and checkout our recent reports in the Agrochemicals category at â€œhttp://www.marketdataforecast.com/research-reports/agriculture/agrochemicals-8/â€. For more insights and up-to-date industry news donâ€™t forget subscribing to our newsletters.