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There are several key market issues that have an impact on the performance of the Saudi Agricultural Chemicals Market indicating certain directions of the market. The major factor responsible for the growing market is the fast developing demands for food products which the increasing population and varieties in the diets. A rate of population growth entails the need for intensive farming to increase farm output and help with food availability. This demand drives the application of production chemicals, mainly fertilizers, pesticides, and herbicides, to enhance the crops productivity and to offer protection to the crops against the attacks by infectious organisms.
However, government policies and regulations form the foundation of the market modulation in Saudi Arabia Agricultural Chemicals industry. Interest of the government in agriculture sector, fighting harmful effects of farming methods on environment and environment itself provide opportunities to mitigate greenhouse effect. The driven forces for success of these chemicals in the market is the regulatory frameworks and guidelines, that affect the strategy of the players in the market and their product offerings.
In the kingdom of Saudi Arabia, the presence of new technologies in agriculture is the main cause for the expansion of the agricultural chemicals’ market. The precision in agriculture includes the application of drones for aerial surveys, satellite scanning for soil and other area data, use of sensors and control systems for smart irrigation and precision application of inputs. Farmers, especially those pursuing the agriculture in future, are adopting the latest technologies into their operations so that they can have the highest yield possible as well as the best resource utilization. Thus, they are creating the very background in which it is absolutely necessary to have advanced chemicals in agriculture.
As a result of ECM , global economic factors, such as commodity prices and trade policies, significantly impacts Agricultural Chemicals Market in Saudi Arabia. The changing of commodity prices for main farming goods even determine the way farmers do things and may make them shift to the cheaper chemicals for agriculture. Along with this, international trade agreements and policies may thus change the availability and the price of pesticides, insecticides, etc…in the Kingdom of Saudi Arabia.
Environmental risks and sustainability problems, which have got a higher priority in the agricultural sector, force the farmers and chemical companies making lot of greenish decisions. Farming today is not about greening but polluting the environment mainly with chemicals, thus, a consciousness is fostering and eco-friendly pesticides and fertilizers are preferred.
Climate variability and change are theˈpanel« factors that put the bullsˈeye on the Saudi Arabia Agricultural Chemical Market. The phenomena such as rise or fall of temperature, altered precipitatiuon patterns and water availability concern yields and type of chemicals in agriculture.
Market competition and significant players influence in the agricultural chemicals market draw an agricultural chemical industry picture in Saudi Arabia. The area is characterized by the existence of the big and the small player, the multinationals and the small scale manufacturers, the local producers, and the distributors. Rivalry, a main catalysing factor in the industry, promotes the need to be innovative while companies work hard to differentiate and market their products.
Saudi Arabia Agricultural Chemicals Market Highlights:
Saudi Arabia Agricultural Chemicals Market Overview
Saudi Arabia Agricultural Chemicals Market Size was valued at USD 12.5 Billion in 2022. The agricultural chemicals industry is projected to grow from USD 12.97 Billion in 2023 to USD 17.485 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.80% during the forecast period (2023 - 2032). A few of the key market drivers propelling the market expansion are the burgeoning greenhouse vegetable output, the scarcity of arable land, the evolution of R&D investments, and the rising environmental concerns regarding the overuse of chemicals in agriculture.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Agricultural Chemicals Market Trends
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Rising scarcity of water to boost the market growth
Due to its effect on farming techniques, water shortage is a major driver of the market for agricultural chemicals. Agriculture must use water more effectively due to water constraint. To maximize water usage, sophisticated irrigation techniques are used, such as drip irrigation and precision irrigation. The need for chemicals employed in these systems, such as fertilizers and soil conditioners, is subsequently driven by this. Furthermore, in areas with limited water supplies, fertigation—the incorporation of nutrients with irrigation systems—becomes essential. Farmers use this technique to increase fertilizer efficiency by directly supplying nutrients to crops through irrigation water. This pattern helps fuel the market expansion for agricultural chemicals, especially in the fertigation sector. Additionally, crop stress is frequently caused by a lack of water. Crop management in water-limited environments requires the use of agricultural chemicals, such as plant growth regulators and biotechnologically produced stress-tolerant cultivars.
Government actions are crucial in promoting growth in the agriculture chemicals sector in Saudi Arabia. Fertilizers and other necessary agricultural chemicals are frequently subsidized by the government, which lowers their cost for farmers. The goal of this assistance is to promote broad use and raise total agricultural yield. Additionally, funding for agricultural chemical research and development projects aids in the creation of novel and effective goods. This helps the agriculture industry thrive and remain competitive in addition to helping farmers. Moreover, the use of contemporary agricultural technologies, such as smart irrigation systems and precision farming, is encouraged by the government. Frequently, these technologies employ certain agricultural chemicals in order to optimize productivity and reduce wasteful use of resources. Thus, driving the agricultural chemicals market revenue.
Agricultural Chemicals Market Segment Insights
Agricultural Chemicals Crop Type Insights
The Saudi Arabia Agricultural Chemicals market segmentation, based on crop type includes Cereals, Pulses and oilseeds, Fruits and vegetables, Lawns and turfs, and Others. The cereals segment dominated the market mostly. The majority of agricultural chemicals are applied to cereals because poor soil quality can result in lower yields and lower nutritional levels for crops like rice. In order to address this issue, fertilizers with additional minerals increase the nutrient content and production of cereals.
Agricultural Chemicals Mode of Application Insights
The Saudi Arabia Agricultural Chemicals market segmentation, based on mode of application, includes Foliar, Fertigation, and Others. The fertigation category generated the most income. Because of its accuracy and advantages for the environment, this technique increases crop yields while reducing resource waste and is becoming more and more common. The growing significance of fertigation in the larger agriculture chemicals business is a result of the growing adoption of modern agricultural practices.
Figure 1: Saudi Arabia Agricultural Chemicals Market, by Mode of Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Agricultural Chemicals Type Insights
The Saudi Arabia Agricultural Chemicals market segmentation, based on type, includes Pesticides and Fertilisers. The fertilisers category generated the most income. The production of a huge amount of fertilizers and the efforts of corporations and governments to educate farmers about their benefits are likely to contribute to a major growth in sales over the projection period. In other words, because of the tremendous pressure the agrarian community faces to meet the growing need for food, the population growth is probably going to increase the need for fertilizers.
Agricultural Chemicals Country Insights
Saudi Arabia held a significant share in the market for agricultural chemicals due to shifting consumer consumption habits and rising awareness. The GDP of the nation is boosted by the agriculture industry every year by 53 billion SR. Furthermore, the population growth in recent years has increased the significance of agriculture in this area, which is what is fueling the market expansion. Furthermore, the Saudi Arabian government is quite supportive of beneficial initiatives that boost agricultural in the area. Additionally, the market's rise is ascribed to higher investments in the development of the agricultural sector and the region's adoption of better water preservation technology. Increases in disposable income, the nation's fast urbanization, and the modernization of the food industry all contribute to the expansion of the agriculture chemicals market.
Agricultural Chemicals Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the agricultural chemicals market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, agricultural chemicals industry must offer cost-effective items.
Major players in the agricultural chemicals market are attempting to increase market demand by investing in research and development operations includes Bayer AG (Germany), BASF SE (Germany), Yara (Norway), Compass Minerals (US), Syngenta Crop Protection AG (Switzerland), ADAMA (Israel), Sumitomo Chemicals Co. Ltd. (Japan), Nufarm (Australia), UPL (India), K+S Aktiengesellschaft (Germany), ICL (Israel), Rotam (South Korea), Corteva (US), and FMC Corporation (US).
Key Companies in the agricultural chemicals market include
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Bayer AG (Germany)
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BASF SE (Germany)
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Yara (Norway)
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Compass Minerals (US)
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Syngenta Crop Protection AG (Switzerland)
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ADAMA (Israel)
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Sumitomo Chemicals Co. Ltd. (Japan)
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Nufarm (Australia)
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UPL (India)
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K+S Aktiengesellschaft (Germany)
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ICL (Israel)
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Rotam (South Korea)
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Corteva (US)
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FMC Corporation (US)
Agricultural Chemicals Industry Developments
February 2022: Adama released Timeline FX, a cutting-edge cross-spectrum spring foliar herbicide for cereals. With its three complimentary modes of action and integrated adjuvant, the product offers growers the widest treatment window of any herbicide for managing grass and broadleaf weeds in cereal crops.
January 2022: Yara and Lantmännen inked a contract to introduce fertilizers free of fossil fuels to the market. As a result of the firms' cooperation, Yara and Lantmännen have signed a commercial agreement for the production and marketing of green fertilizers in Sweden starting in 2023.
Agricultural Chemicals Market Segmentation
Agricultural Chemicals Crop Type Outlook
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Cereals
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Pulses and oilseeds
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Fruits and vegetables
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Lawns and turfs
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Others
Agricultural Chemicals Mode of Application Outlook
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Foliar
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Fertigation
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Others
Agricultural Chemicals Type Outlook
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Pesticides
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Fertilisers
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