Agrochemicals Market Research Report - Global Forecast till 2030

Agrochemicals Market Research Report Information By Type (Pesticides and Fertilizers), By Product Type (Potassic, Nitrogenous, and Phosphatic), By Crop Type (Food Grains, Cash Crops, Plantation Crops, and Horticulture Crops), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030

ID: MRFR/AGR/0759-HCR | 137 Pages | Author: Varsha More | March 2024         

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Global Agrochemicals Market Overview


Agrochemicals Market Size was valued at USD 336.9 billion in 2022. The Agrochemicals market industry is projected to grow from USD 352.06 Billion in 2023 to USD 458.47 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2023 - 2030). Rising demand for fertilizers and the growing need for crop protection are the key market drivers enhancing market growth.


Agrochemicals Market
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Agrochemicals Market Trends



  • Growing demand for food owing to the rising population to boost the market growth


Consumption patterns are changing as a result of the increasing population and wealth around the world. Along with increasing production to meet demand, there is a need to care for the nutritional requirements of an increasingly affluent population. For instance, the IMF estimates that India will have a population of 1.39 billion in 2021. According to FAO, severe food insecurity will affect 11.7% of the world's population in 2021. Waste is caused by shrinking arable land and crops lost to pest attacks, a major obstacle to ensuring food and nutritional security. The US Department of Agriculture reports that since 2000, the total amount of land used for farming in the US has decreased yearly. As of 2021, there were 895.3 million acres of farmland worldwide, a drop of nearly 50 million. These elements drive up the demand for agrochemicals, increasing agricultural productivity.


Figure 1: Agrochemicals Market, by Type, 2022 & 2030 (USD Million)


Agrochemicals Market, by Type, 2022 & 2030
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Moreover, governments, especially in Asian countries, are taking government initiatives to support farmers by initiating several programs. For instance, the Indian government places a high priority on farmer welfare and is enacting a number of farmer's welfare programs to boost the agricultural sector and enhance farmers' economic circumstances. The government has rolled out several new initiatives like Neem Coated Urea, Soil Health Card Scheme, Paramparagat Krishi Vikas Yojana (PKVY), Pradhan Mantri Fasal Bima Yojana (PMFBY)National Agriculture Market (e-NAM), Pradhan Mantri Krishi Sinchayee Yojana (PMKSY), and Interest Subvention Scheme. All farmers will benefit from these programs. Further, the Australian government is helping the agriculture sector reach its target of $100 billion in production by 2030. This is another factor driving the growth of the Agrochemicals market revenue.


Additionally, it is anticipated that the expanding animal husbandry and animal feed industries will favorably affect the expansion of the world agrochemicals market. The largest feed industry in the world is found in the United States. The American Feed Industry Association (AFIA) estimates that in 2020, the U.S. exported 32.4 thousand tons of animal feed at a value of USD 13 billion. Thus, this has enhanced the Agrochemicals market CAGR globally.


Agrochemicals Market Segment Insights


Agrochemicals Type Insights


The Agrochemicals market segmentation, based on type, includes pesticides and fertilizers. The fertilizers segment held the majority share in 2022, contributing to around ~65-67% of the Agrochemicals market revenue. The high consumption of fertilizers is driving the agrochemicals market to increase crop production. There are three different ways to fertilize grains and cereals. These fertilizers can be sprayed, top-dressed separately, or mixed with other fertilizers and applied to seedlings. To increase cereal and grain yields, fertilizers must be applied at the correct rate and in the right amount. Farmers are using more fertilizers to increase the productivity and yield of different crops because the increased food demand is placing additional strain on agricultural land.


March 2022 The U.S. Department of Agriculture (USDA) has announced it will support additional fertilizer production for American farmers. This summer, the USDA will make USD 250 million available through a new grant program to support American farmers' independent, creative, and sustainable fertilizer production. Additionally, the USDA will start a public inquiry to gather data about seeds and agricultural inputs, fertilizer, and retail markets to address growing concerns about competition in the agricultural supply chain.


October 2022 Prime Minister Narendra Modi unveiled the "One Nation, One Fertilizer" initiative. The PM also launched the PM Kisan Samman Sammelan 2022 at the Indian Agricultural Research Institute and released PM-KISAN funds totaling Rs 16,000 crore through Direct Benefit Transfer.


Figure 2: Agrochemicals Market, by Type, 2022 & 2030 (USD billion)


Agrochemicals Market, by Type, 2022 & 2030
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Agrochemicals Product Type Insights


The Agrochemicals market segmentation, based on product type, includes potassic, nitrogenous, and phosphatic. The nitrogenous segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Three important cereal crops—rice, wheat, and maize—acquire about 60% of the world's nitrogen. Widely available nitrogen fertilizers aid in accelerating plant growth and boosting crop yields. But as nitrogenous fertilizers are used more frequently, the surrounding areas, particularly water bodies, suffer. This is propelling the market for agrochemicals, positively impacting the market growth.


Agrochemicals Crop Type Insights


The Agrochemicals market data has been bifurcated by crop type into food grains, cash crops, plantation crops, and horticulture crops. The food grains segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period. The total demand is expected to rise at a rate of 2% per year in the medium term due to increased population, despite declining per capita direct consumption of food grains. Moreover, according to FAO, the amount of cereal produced worldwide in 2022 has increased by 8.3 million tonnes (0.3 percent) this month to 2 765 million tonnes, though it is still 1.7% less than last year. The majority of the increase is associated with wheat, as a result of upward revisions for Australia and the Russian Federation that increased the forecast for wheat production to 794 million tonnes and reinforced expectations for a record-high output in 2022.


Agrochemicals Regional Insights


By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific agrochemicals market accounted for USD 154.3 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The top regional market contributors include China, Japan, and India. According to the International Trade Center (ITC) and FAO, China is the world's largest manufacturer and exporter of pesticides. According to the Organization for Economic Co-operation and Development (OECD) and FAO, India is the fourth-largest producer of agrochemicals in the world, after China, Japan, and the United States. Moreover, the China Agrochemicals market held the largest market share, and the India Agrochemicals market was the fastest-growing market in the Asia-Pacific region.


Further, the major countries studied in the market report are: The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 3: AGROCHEMICALS MARKET SHARE BY REGION 2022 (%)


AGROCHEMICALS MARKET SHARE BY REGION 2022
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe Agrochemicals market accounts for the third-largest market share. Agrochemicals are crucial for achieving high yields as they are essential for preventing pests and diseases in the field. Because more people are eating cereals and grains like rice, wheat, rye, corn, oats, sorghum, and barley, there is an increase in demand for fertilizers. This is expected to fuel the market in this Region. Further, the Germany Agrochemicals market held the largest market share, and the UK Agrochemicals market was the fastest-growing market in the European Region.


The North America agrochemicals Market is held the second largest market in 2022. Moreover, the U.S Agrochemicals market held the largest market share in 2022. The U.S. dominated the North American agrochemicals market due to the rising demand for commodities like blueberries, sorghum, soy, and maize. In addition, the United States is the world's largest producer of maize, sorghum, blueberries, and almonds.


Agrochemicals Key Market Players & Competitive Insights


The Major market players are increasing their spending on their R&D initiatives to increase their footprint in the market. Market participants also want to expand their presence by updating their market developments, such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Additionally, studies indicate that the market leaders in the Agrochemicals industry are expected to offer their products at a moderate price to further garner a more extensive consumer base.


One of the primary strategies the Agrochemicals Industry market leaders are undertaking is expanding their clients by manufacturing locally to reduce operating costs. During the forecast period, the Agrochemicals industry has provided various products reaping significant benefits. The Agrochemicals market major player such as The Mosaic Company (US), Bayer CropScience Limited (Germany), The Dow Chemical Company (US), BASF SE (Germany), Monsanto Company (US), Syngenta AG (Switzerland), Adama Agricultural Solutions Ltd (Israel), Nufarm Limited (Australia), Arysta Lifescience Corporation (Japan), and Crystal Crop Protection Pvt. Ltd. (India), and others are working on expanding the market demand by investing in research and development activities.


Crystal Crop Protection Pvt. Ltd. is an R&D-based crop protection manufacturing and marketing company. Crystal's products are designed to support the entire crop lifecycle from planting to harvesting. The business offers crop protection options to Indian farmers to help them increase productivity and profitability on their farms. In February 2022, Crystal Crop Protection Limited introduced its new product HOLA, a post-emergent herbicide to safeguard sugarcane crops nationwide from weeds.


Bayer Crop Science manufactures crop protection products like herbicides, insecticides, fungicides, and seed treatments. In January 2022, Bayer Crop Science introduced Ambition, a formulation of a crop supplement containing amino acids and fulvic acids in China.


Key Companies in the Agrochemicals market includes

  • The Mosaic Company (US)

  • Bayer CropScience Limited (Germany)

  • The Dow Chemical Company (US)

  • BASF SE (Germany)

  • Monsanto Company (US)

  • Syngenta AG (Switzerland)

  • Adama Agricultural Solutions Ltd (Israel)

  • Nufarm Limited (Australia)

  • Arysta Lifescience Corporation (Japan)

  • Crystal Crop Protection Pvt. Ltd. (India), among others


Agrochemicals Industry Developments

December 2020: BASF planned on introducing the insecticide Renestra in 2021. With the help of this new tool, soybean farmers can now completely control a variety of insect pests and soybean aphids that are resistant to conventional chemicals.


November 2020: Syngenta Crop Protection announced the launch of Spiropidion. This novel new technology can defend various crops against some of the most destructive and challenging-to-control pests. Spiropidion offers farmers a crucial new tool in Integrated Pest Management (IPM) programs because it is safe for pollinators and beneficial insects, keeping Syngenta's ongoing commitment to creating cutting-edge and environmentally friendly products.


Agrochemicals Market Segmentation


Agrochemicals Type Outlook



  • Pesticides

  • Fertilizers


Agrochemicals Product Type Outlook



  • Potassic

  • Nitrogenous

  • Phosphatic


Agrochemicals Crop Type Outlook



  • Food Grains

  • Cash Crops

  • Plantation Crops

  • Horticulture Crops


Agrochemicals Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 336.9 billion
Market Size 2023 USD 352.06 billion
Market Size 2030 USD 458.47 billion
Compound Annual Growth Rate (CAGR) 4.50% (2023-2030)
Base Year 2022
Market Forecast Period 2023-2030
Historical Data 2019 - 2021
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Product Type, Operating Platforms, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled The Mosaic Company (US), Bayer CropScience Limited (Germany), The Dow Chemical Company (US), BASF SE (Germany), Monsanto Company (US), Syngenta AG (Switzerland), Adama Agricultural Solutions Ltd (Israel), Nufarm Limited (Australia), Arysta Lifescience Corporation (Japan), and Crystal Crop Protection Pvt. Ltd. (India)
Key Market Opportunities Rapidly growing population
Key Market Dynamics Growing food demand globally




Frequently Asked Questions (FAQ) :

The Agrochemicals market size was valued at USD 336.9 Billion in 2022.

The market is projected to grow at a CAGR of 4.50% during the forecast period, 2022-2030.

Asia Pacific had the largest share of the market

The key players in the market are The Mosaic Company (US), Bayer CropScience Limited (Germany), The Dow Chemical Company (US), BASF SE (Germany), Monsanto Company (US), Syngenta AG (Switzerland), Adama Agricultural Solutions Ltd (Israel), Nufarm Limited (Australia), Arysta Lifescience Corporation (Japan), and Crystal Crop Protection Pvt. Ltd. (India).

The fertilizer category dominated the market in 2022.

The nitrogenous segment held the largest share of the market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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