Agrochemicals Market Share, Size, Trends, Industry Analysis Report, By Type (Fertilizers, Pesticides); By Pesticide Type; By Fertilizer Type; By Crop Type; By Region; Segment Forecast, 2024 - 2032

Agrochemicals Market Share, Size, Trends, Industry Analysis Report, By Type (Fertilizers, Pesticides); By Pesticide Type; By Fertilizer Type; By Crop Type; By Region; Segment Forecast, 2024 - 2032

The global agrochemicals market size is expected to reach USD 311.39 billion by 2032, according to a new study by Polaris Market Research. The report “Agrochemicals Market Share, Size, Trends, Industry Analysis Report, By Type (Fertilizers, Pesticides); By Pesticide Type; By Fertilizer Type; By Crop Type; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing world population is showcasing the stringent need to boost agriculture production, particularly food in the marketplace. The inefficiency of producing a higher amount of yield on the limited land through traditional farming methods fueled the use of agrochemicals by farmers. Increasing knowledge and availability of pesticides and fertilizers among farmers is significantly driving the consumption of agrochemicals.

The growing awareness about the circular economy and rising concerns about environmental pollution are emphasizing the importance of developing sustainable agrochemicals in the global market. To meet changing global demand, companies are working on research and development activities and entering collaborative frameworks to innovate new products.

Key players, specifically in developing countries driven by a larger population base, are significantly boosting agrochemical demand. For instance, in December 2023, Sumitomo Chemical planned to establish a new agrochemical plant in India, to be completed by 2027, with an investment of USD 35 Mn to increase its production capacity by 80% in the nation.

Farmers are getting more dependent on the agrochemicals with the rising incidence of plant diseases arising from weeds, & insects, thereby increasing agriculture output. The adoption of modern farming practices, including precision agriculture and genetically modified crops, drives the demand for agrochemicals. These practices require specialized agrochemicals to optimize crop production and protect against pests and diseases.

Government policies, subsidies, and regulations influence the demand for agrochemicals. Supportive policies that promote agricultural productivity and provide incentives for agrochemical use can stimulate demand. However, regulations related to pesticide use, environmental protection, and food safety also impact demand.

Agrochemicals Market Report Highlights

The fertilizers segment is anticipated to witness the highest growth in the coming years due to farmers' rising initiatives to increase their earning capacity.

In 2023, the Herbicides segment accounted for the largest market share owing to its ability to increase the supply of soil nutrients to crops.

The nitrogen fertilizer segment held a significant revenue share due to its effectiveness in driving plant growth, followed by productivity.

The Asia Pacific region is expected to witness the fastest growing CAGR during the forecast period, attributable to the growing new agrochemical innovations in farms.

The global players include ADAMA, Ashland, BASF, Bayer, Clariant, Croda International, Evonik Industries, FMC, & Helena Agri-Enterprises.

Polaris Market Research has segmented the agrochemicals market report based on type, pesticide type, fertilizer type, crop type, and region:

Agrochemicals, Type Outlook (Revenue - USD Billion, 2019 - 2032)

Fertilizers

Pesticides

Agrochemicals, Pesticide Type Outlook (Revenue - USD Billion, 2019 - 2032)

Insecticides

Herbicides

Fungicides

Nematicides

Other Pesticide Types

Agrochemicals, Fertilizer Type Outlook (Revenue - USD Billion, 2019 - 2032)

Nitrogenous Fertilizers

Urea

Ammonium Nitrate

Ammonium Sulfate

Ammonia

Calcium Ammonium Nitrate

Other Nitrogenous Fertilizers

Phosphatic Fertilizers

Diammonium Phosphate

Monoammonium Phosphate

Triple Superphosphate

Other Phosphatic Fertilizers

Potassic Fertilizers

Potassium Chloride

Potassium Sulfate

Other Potassic Fertilizers

Other Fertilizer Types

Agrochemicals, Crop Type Outlook (Revenue - USD Billion, 2019 - 2032)

Cereals & Grains

Corn

Wheat

Rice

Other Cereals & Grains

Oilseeds & Pulses

Soybean

Sunflower

Other Oilseeds & Pulses

Fruits & Vegetables

Apples

Cucumbers

Grapes

Pears

Potatoes

Bananas

Avocado

Tomatoes

Cucurbits

Other Fruits & Vegetables

Other Crop Types

Agrochemicals, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Australia

Rest of APAC

Latin America

Argentina

Brazil

Mexico

Rest of LA

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of MEA