The Agrochemicals Market was valued at approximately USD 260 Billion in 2023 and is expected to grow at a substantial CAGR of around 3% during the forecast period (2024-2032)

Agrochemicals are the chemical products used for protecting farm products from insects, pests, diseases, and weeds. These are the specific chemicals also used for improving quality and increasing crop yield. Pests and insects attack the crops and reduce the quantity and quality of yield, thereby with the use of agrochemicals such situations can be mitigated. Agrochemicals are among the best solutions for crop protection and better production. These chemical products include pesticides, herbicides, insecticides, fungicides, rodenticides, nematicides, and molluscicides. It also includes soil quality enhancers and fertilizers. A large number of agrochemicals are water-soluble and mixed with surfactants and solvents for enhancing the performance of the products. 

As the population is increasing worldwide, with this the demand for agricultural products is also increasing. However, the availability of the landmass for the production of crops and farm products is decreasing due to urbanization and industrialization. Besides, people are becoming health conscious, thereby there is an expansion in demand for natural food, fresh fruits, vegetables, and flowers which requires an extremely controlled environment and precise nutritional content in the soil. These aforementioned factors have compelled the farmers to use different types of agrochemical products for enhancing crop production and improve soil quality. Due to high concern towards agricultural sustainability, soil quality, and environmental safety, agrochemicals products are rapidly used by farmers along with organic manure to improve soil fertility and the health of crops and plants. For instance, China in its 14th Five-year plan 2021-2025 for National Economic and Social Development, stepped up the focus on food availability aiming to boost grain yields, increase support for the domestic seed industry and enhance digital technology use in agriculture. Owing to such factors, the demand for agrochemicals is likely to grow in the near future. 

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Based on type, the market is categorized into fertilizers and pesticides. Of both, pesticides captured a considerable share in the market owing to their usage in a large number of application areas. Pesticides are used to control various pests and disease carriers, such as mosquitoes, rats, and mice. There are many different types of pesticides; each is meant to be effective against specific pests. Some pesticides include disinfectants, fungicides, herbicides, insecticides, algaecides, insect growth regulators, wood preservatives, and rodenticides. 

Based on crop, the market is categorized into cereals & grains, oilseeds & pulses, fruits & vegetables, and others. The cereals and grains held a significant share in the global agrochemicals market. Since cereals and grains are considered as staple crops across the globe, therefore maintaining a strong demand among people. Further, the global population is rising resulting in more demand for foods, which eventually increases the pressure to improve the production of these crops. As a result, to bridge the supply-demand gap, the utilization of agrochemicals like fertilizers and pesticides is likely to increase in order to improve the quality and quantity of crops and maintain soil health and fertility. 

For a better understanding of the market adoption of agrochemicals, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for a significant share in the market and is expected to showcase substantial growth during the forecast period owing to a large and growing base of the agriculture sector due to increasing population, rapid urbanization, growing demand for better quality products, for improving health and fertility of the soil. 

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Global Agrochemical Market Segmentation 

Market Insight, by Type 

·        Fertilizers 

o        Nitrogen fertilizer 

o        Phosphatic Fertilizer 

o        Potassic Fertilizer 

·        Pesticides 

o        Fungicides 

o        Herbicides 

o        Insecticides 

o        Other 

Market Insight, by Crop 

·        Cereals & Grains 

·        Oilseeds & Pulses 

·        Fruits & Vegetables 

·        Others 

Market Insight, by Region 

·                    North America Agrochemical Market 

o       United States 

o       Canada 

o       Rest of North America 

·                    Europe Agrochemical Market 

o       Germany 

o       United Kingdom 

o       France 

o       Italy 

o       Spain 

o       Rest of Europe 

·                    Asia-Pacific Agrochemical Market 

o       China 

o       Japan 

o       India 

o       Australia 

o       Rest of Asia-Pacific 

·                    Rest of World Agrochemical Market 

Top Company Profiles 

·                     BASF SE  

·                    Bayer AG 

·                    Sumitomo Chemical CO. Ltd. 

·                    Syngenta AG 

·                    Corteva Inc. 

·                    United Phosphorus Limited 

·                    Adama Agricultural Solutions 

·                    Jiangsu Yangnong Chemical Group Co. Ltd. 

·                    Nufarm Ltd.               

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