Meticulous Research®, a distinguished global market research firm, has released its latest report titled, “Agrochemicals Market by Type (Fertilizers, Synthetic Chemicals, Biological Chemicals, Biostimulants, Plant Growth Regulators), Form (Dry, Liquid), Mode of Application (Seed Treatment, Soil Treatment, Fertigation), Crop Type – Global Forecast to 2030.”
The report projects that the agrochemicals market will reach a valuation of $338.49 billion by 2030, with a compound annual growth rate (CAGR) of 4.0% from 2024 to 2030.
This growth is driven by several key factors, including the rising demand for cost-effective crop protection methods, the need to improve crop yield and quality, and the expanding trend of organic farming. The increasing focus on environmental protection and soil management has also contributed to the growing demand for soil conditioners. Additionally, government initiatives promoting biopesticides are gaining traction, particularly in emerging economies in Asia-Pacific and Latin America, where significant growth opportunities are expected. However, the market’s growth is hindered by stringent regulatory frameworks, a heavy reliance on synthetic fertilizers, and a lack of farmer education and awareness. The lengthy and complex product registration and approval processes also pose challenges to market expansion.
Meticulous Research® offers a detailed analysis of the agrochemicals market, providing historical data from 2021 and 2022, current estimates for 2024, and forecasts through 2030. The market is segmented by type, form, mode of application, crop type, and geography.
The market is segmented by type into fertilizers, synthetic crop protection chemicals, biological crop protection chemicals, biostimulants, plant growth regulators, soil conditioners, and others. Fertilizers are expected to hold the largest market share in 2024, driven by the growing demand for essential products such as anhydrous ammonia, ammonium nitrate, and urea. Government initiatives aimed at promoting sustainable agricultural practices and the adoption of advanced farming technologies like drip irrigation further support this segment. The declining nutrient content in soil due to harmful chemical usage has also led to reduced agricultural productivity, driving the demand for fertilizers.
Meticulous Research® segments the market by form into dry and liquid forms. The dry form segment is anticipated to dominate in 2024, largely due to its widespread adoption, particularly in synthetic fertilizers for agriculture and lawn applications. The segment’s growth is supported by the long-lasting effects and efficiency of dry agrochemicals in various climates, as well as their cost-effectiveness in production, transportation, and storage. Additionally, dry form agrochemicals can be stored for extended periods without requiring special facilities, resulting in cost savings for farmers and distributors.
The mode of application segment is divided into seed treatment, foliar spray, soil treatment, fertigation, and others. Soil treatment is expected to account for the largest market share in 2024, driven by its numerous advantages, including precise application in the plant root zone, which reduces waste and maximizes nutrient uptake. Soil treatment also enhances root development and minimizes pest and disease pressure, making it a preferred choice among farmers. Additionally, soil treatment can restore contaminated land for agricultural use and is generally cost-effective.
Meticulous Research® predicts that the foliar spray segment will experience rapid growth from 2024 to 2030. This growth is attributed to the high efficiency and uniform chemical distribution achieved through foliar sprays, minimizing wastage and ensuring effective crop protection.
In terms of crop type, the agrochemicals market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, and others. The cereals & grains segment is projected to dominate in 2024, driven by the need to boost production, reduce losses from pests and diseases, and meet the growing demand for these crops in animal feed, biofuels, and ethanol production. Government support through policies and subsidies further encourages the use of agrochemicals in cereal and grain production.
Meticulous Research® highlights that Asia-Pacific is expected to lead the agrochemicals market geographically in 2024. The region’s large market share is attributed to rapid population growth, increasing demand for quality agricultural products and organic produce, and the need for higher productivity and yield. Countries such as China, India, and Japan are expected to see significant increases in agrochemical consumption. Moreover, Asia-Pacific is projected to experience the fastest growth rate during the forecast period, supported by expanding organic farming, increased mechanization, improved irrigation facilities, and favorable government policies. The region’s growing organic industry further supports this trend.
Key Players
The key players operating in the agrochemicals market include BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (U.S.), FMC Corporation (U.S.), Novozymes A/S (Denmark), Nufarm Limited (Australia), Syngenta AG (A Part of China National Chemical Corporation/Chemchina) (Switzerland), UPL Limited (India), Sumitomo Chemical Co., Ltd. (Japan), Jiangsu Yangnong Chemical Co. Ltd. (China), Loveland Products, Inc. (A Part of Nutrien AG Solutions) (U.S.), Eastman Chemical Company (U.S.), Evonik Industries AG (Germany), American Vanguard Corporation (U.S.), Koppert B.V. (Netherlands), Gowan Company LLC (U.S.), Biolchim SPA (Italy), Lallemand Inc. (Canada), ADAMA Agricultural Solutions Ltd. (Israel), and Isagro S.p.A. (Italy).
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Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of type, form, mode of application, crop type, and geography?
- What is the historical market size for agrochemicals across the globe?
- What are the market forecasts and estimates for the period 2024–2030?
- What are the major drivers, restraints, opportunities, and challenges in the agrochemicals market?
- Who are the major players in the market, and what are their market shares?
- Who are the major players in various countries, and what are their market shares?
- How is the competitive landscape for the agrochemicals market?
- What are the different strategies adopted by the major players in the agrochemicals market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the agrochemicals market, and how do they compete with other players?
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