Authored By: Sarah
15 Nov 2023

Agrochemicals Market to exhibit market growth at a CAGR of 4.48% through 2023-2027

It is anticipated that the size of the agrochemicals market will grow at a CAGR of 4.48% between 2022 and 2027, adding USD 49 million to the total revenue growth. The industry is expanding primarily because of the rising demand from developing nations. The focus is mostly on the growth potential in rural areas of unexplored markets such as China and India.

When it comes to market segmentation, the market can be classified by Product, including Fertilizers and Pesticides. It further segments the market by Application, encompassing Cereals and grains, Oilseeds and pulses, and Fruits and vegetables. Additionally, the report provides geographical segmentation, covering APAC, North America, Europe, South America, and the Middle East and Africa.

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Snapshot of Agrochemicals Market Analysis

Navigating through the details of the Agrochemicals Market segment-wise

  • It has been observed that the fertilizers segment showed a gradual increase in the market share. The expansion of the fertilizers segment is anticipated to be driven by the widespread application of these salts as fertilizers in the cultivation of grains and oilseeds over the forecasted period.
  • When it comes to the fastest-growing topography APAC is estimated to contribute 50% to the growth of the global market as the region accounts for almost 60% of the global population and 30% of the total available land globally.

Drexel Chemical Co., Evonik Industries AG, FMC Corp., Gharda Chemicals Ltd., Haifa Group, Koch Industries Inc., Nissan Chemical Corp., Nufarm Ltd., Nutrien Ltd., Rotam CropSciences Ltd., Syngenta Crop Protection AG, and Yara International ASA are some of the major market participants when it comes to Agrochemicals Market

In-depth insights into the different development factors and obstacles that could hinder market expansion are provided by Technavio's study, which also offers a complete analysis of the market segments and geographic landscape segment-wise.  Get our sample research report on the market for Agrochemicals Market.

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