Agrochemicals Market, By Product (Crop Protection Chemicals, Fertilizers, Plant Growth Regulators and Others), By Application (Fruits & Vegetables, Oilseeds & Pulses, Cereals & Grains and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Agrochemicals Market was valued at US$ 243.4 Billion in 2024 and is projected to grow at a CAGR of 3.60% to reach US$ 347.5 Billion by 2034.

Agrochemicals are mixture of chemicals that are used in agriculture to protect crops from insects and pests. Herbicides, pesticides, fertilizers, insecticides are the examples of agrochemical product.Use of agrochemicals to increase yield and quality of crops has provided lucrative opportunities in market growth. New product launch and growing demand for agrochemicals to protect crops has further fueled the market growth. Rapid growth in population, higher demand for food and decline in arable land is expected to foster the demand for Agrochemicals market growth in coming years.

Growing focus on agricultural yield of crop to fuel market growth

Growing focus on agricultural yield of crop has driven Agrochemicals market growth. As population in world is growing rapidly demand for food has been increased. To fulfill demand of food, advanced agricultural technologies and focus on yield of crop is increased which, in turn facilitate the demand for Agrochemicals market growth. Adoption of advanced agrochemicals to protect crop from damage, to increase productivity and quality of crop is likely to propel Agrochemicals market growth. Fertilizers are used to increase yield of crop as it contains nitrogen, potassium and phosphorus which improves fertility of soil and thus, helps in increasing crop production which in turn, provide lucrative opportunities in Agrochemicals market growth.

For instance, in May 2023, Yara International announced that it has set to build a new global plant for biostimulants and specialty fertilizers with crop nutrition products to increase yield and quality of crop. This new plant will able to allow the Yara to strengthen its position in specialty crop nutrition business in market.

Restrains:

Rising resistance pattern against agrochemicals in some insect species due to wider use and repeated application of agrochemicals led to resistant of insect population against insecticides and rapid growth which in turn, restrains the Agrochemicals market growth.

Agrochemicals Market is segmented based on Product, Application and Region.

Product Insight

• On the basis of Product, Agrochemicals Market is segmented into Crop Protection Chemicals, Fertilizers, Plant Growth Regulators and Others. Fertilizers product segment is expected to dominate the target market growth. Growing demand for fertilizers such as urea, ammonium nitrate, anhydrous ammonia and rising use of fertilizers for improvement of crop production has fuel the market growth.

Application Insights

• On the basis of Application, Agrochemicals Market is segmented into Fruits & Vegetables, Oilseeds & Pulses, Cereals & Grains and Others. Cereals & Grains application segment is expected to dominate the target market growth. High amount of consumption of cereals & grains across globe especially in Asia Pacific has given rise in use of agrochemicals which in turn facilitated the demand for market growth.

Regional Insights:

• On region the Agrochemicals Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period. World’s top producer of agricultural goods is Asia-Pacific which has boost the market growth. Rapid growth in population, growing demand for food, favorable climatic conditions and large number of agricultural lands is anticipated to increase demand for Agrochemicals in the region.
• For instance, according to ITC (International Trade Center) and FAO, China has become the world’s largest exporter and manufacturer of pesticides. Further according to the OECD (Organization for Economic Co-operation and Development) and FAO, India has become the world’s fourth largest producer of agrochemicals.

Agrochemicals Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Agrochemicals Market report based on Product, Application and Region:

Agrochemicals Market, By Product:

• Crop Protection Chemicals
• Fungicides
• Insecticides
• Herbicides
• Others
• Fertilizers
• Potassic
• Phosphatic
• Nitrogenous
• Secondary Fertilizers (Calcium, Magnesium and Sulfur Fertilizers)
• Others
• Plant Growth Regulators
• Others

Agrochemicals Market, By Application:

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

Agrochemicals Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating the Agrochemicals Market includes, BASF SE, Bayer AG, Clariant AG, The DOW Chemical Company, Evonik Industries AG, Huntsman International LLC., Solvay, Ashland Inc., FMC Corp., Nufarm and Others.

• In February 2023, Best Agrolife launched new agrochemical formulations such as Promos, Amito, Ghotu, Propique, Headshot, Doddy with their star products Vistara and Citigen. Citigen is an insecticide for controlling pests in crops like rice, tomato, sugarcane, brinjal, maize, cabbage, okra, groundnut and other.
• In May 2023, Bharat Certis AgriScience Ltd., launched new “HIDEKI” a Japan quality assurance product which eliminates sucking pests and also endures control over targeted pests. The company also launched six new products among herbicide and insecticide named as Boach, Brandish, Ruzhan, Jadu, Vintazen, and Vestar (plant growth regulator).
• In April 2023, BASF SE launched new fungicide “Revysol” a first Isopropanol-Azole fungicide in Spain market. New launched Revysol help to stop the production of ergosterol caused by fungus and also safe for human, environment.
• In May 2023, The DOW Chemical Company launched new online tool “DOW Crop Solver” for agrochemical formulators to develop crop protection products. New launched tool is featured with crop regulatory information by product, active ingredient search, inert ingredient property comparisons, easy on-the-go navigation and technical & safety data.

• BASF SE
• Bayer AG
• Clariant AG
• The DOW Chemical Company
• Evonik Industries AG
• Huntsman International LLC.
• Solvay
• Ashland Inc.
• FMC Corp.
• Nufarm