With a growing global
population, the pressure on the limited agricultural land is increasing
and to meet this demand, the agro-chemicals have proved to be a rescue.
Agro-chemicals, which includes fertilizers and pesticides, give the
boost to the agricultural yield for agricultural land by providing
nutrients and protecting the crops against pests and non-essential
herbs.
The global agrochemical market has grown at a CAGR of more than 15% in the past two years to reach a current market size of $119 billion. In the next five years, the market is expected to grow at a CAGR of 10.4%, riding high on new product developments. This highlights the many opportunities that this market offers in terms of revenues and market growth. Agrochemical products are segmented into fertilizers and pesticide.
The rapid increase in the population and limited land availability form the most important factor stimulating market growth for agrochemicals. The other market drivers are lack of natural resource management, need for plant genetic resource conservation, and improper planning by the farmers in crop production. However, lack of farmer awareness in using agrochemicals and rising concern about exploitation of environment are restraining the growth of the agrochemical market. Improvement in fabrication technology and new product development at competitive prices will be the key to future market growth.
China and India are the world’s largest consumer of agrochemicals, which made Asia the dominating market; accounted for 43.1% of global agrochemical revenue in 2008. U.S. is estimated to be second largest with 18.5% share of the market.
Source: MarketsandMarkets
In 2009, fertilizers are expected to dominate the market with 57% market share. The market is expected to reach $117 billion by 2014 with a CAGR of 11.4% from the year 2009 to 2014. The high market share of fertilizers is mainly due to their extensive use in increasing the fertility of soil by adding nitrogen, phosphate etc. minerals. In fertilizers, nitrogenous fertilizers market is estimated to reach $34 billion by 2009.
The key players in the fertilizers market are Yara international, mosaic Corporation, Potash Corp., K&S etc. and in pesticide market are Bayer, Syngenta, BASF, Monsanto etc.
With all the large agricultural nations like U.S, Brazil, China, India, Canada, Argentina, and Australia acting towards increasing their food yield for internal consumption as well as for export, the governments in these countries are encouraging the extensive usage of these agrochemicals. This has in turn boosted the market, prompting companies to spend extensively on the research and development of new chemicals and improving upon the performance of the existing ones. This has acted as a most important positive push for the market and with the government support and initiatives, this market is sure to grow at a decent pace for the next several years.
The global agrochemical market has grown at a CAGR of more than 15% in the past two years to reach a current market size of $119 billion. In the next five years, the market is expected to grow at a CAGR of 10.4%, riding high on new product developments. This highlights the many opportunities that this market offers in terms of revenues and market growth. Agrochemical products are segmented into fertilizers and pesticide.
The rapid increase in the population and limited land availability form the most important factor stimulating market growth for agrochemicals. The other market drivers are lack of natural resource management, need for plant genetic resource conservation, and improper planning by the farmers in crop production. However, lack of farmer awareness in using agrochemicals and rising concern about exploitation of environment are restraining the growth of the agrochemical market. Improvement in fabrication technology and new product development at competitive prices will be the key to future market growth.
China and India are the world’s largest consumer of agrochemicals, which made Asia the dominating market; accounted for 43.1% of global agrochemical revenue in 2008. U.S. is estimated to be second largest with 18.5% share of the market.
Global Agrochemical market by Products, 2009
Source: MarketsandMarkets
In 2009, fertilizers are expected to dominate the market with 57% market share. The market is expected to reach $117 billion by 2014 with a CAGR of 11.4% from the year 2009 to 2014. The high market share of fertilizers is mainly due to their extensive use in increasing the fertility of soil by adding nitrogen, phosphate etc. minerals. In fertilizers, nitrogenous fertilizers market is estimated to reach $34 billion by 2009.
The key players in the fertilizers market are Yara international, mosaic Corporation, Potash Corp., K&S etc. and in pesticide market are Bayer, Syngenta, BASF, Monsanto etc.
With all the large agricultural nations like U.S, Brazil, China, India, Canada, Argentina, and Australia acting towards increasing their food yield for internal consumption as well as for export, the governments in these countries are encouraging the extensive usage of these agrochemicals. This has in turn boosted the market, prompting companies to spend extensively on the research and development of new chemicals and improving upon the performance of the existing ones. This has acted as a most important positive push for the market and with the government support and initiatives, this market is sure to grow at a decent pace for the next several years.
