The agrochemicals market share in Canada will post incremental growth of USD 279.69 million, progressing at a CAGR of 4.45% during the forecast period. The increasing use of herbicides will offer immense growth opportunities to market vendors. The agrochemicals market in Canada is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Agrochemicals Market in Canada by Product and Application - Forecast and Analysis 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The agrochemicals market in Canada is segmented by product (fertilizers and pesticides) and application (crop-based and others).
The growth of the agrochemicals market size in Canada in the fertilizers segment will be significant during the forecast period. The use of fertilizers for the production of cereals and grains, fruits, vegetables, and oilseeds will positively impact market growth during the forecast period.
The increasing use of herbicides will directly influence the sales of the agrochemicals market in Canada. In addition, the implementation of Integrated Pest Management (IPM) as a new method of crop protection is one of the major agrochemicals markets in Canada trends that will positively impact the market growth. However, factors such as regulatory laws and obligations will hamper the agrochemical market share in Canada growth.
The market is fragmented due to the presence of several players. Some of the major agrochemicals market vendors in Canada are BASF SE, Bayer AG, CF Industries Holdings Inc., Dow Inc., DuPont de Nemours Inc., Nippon Soda Co. Ltd., Nutrien Ltd., Syngenta Crop Protection AG, UPL Ltd., and Yara International ASA.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the agrochemicals market in Canada forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the agrochemicals market share in Canada.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the agrochemicals market in Canada.
Agrochemicals industry growth across Canada.