Latest News- Agrochemicals Market: Fertilizers is expected to lead the Product segment during 2025-2029

The Agrochemicals Market is being driven by Increasing use of herbicides

The Agrochemicals Market is expected to grow at a CAGR of 4.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 56.3 billion. In the agricultural sector, pest control represents a significant expense, accounting for approximately 35% of a farmer's production costs. Pests currently cause losses ranging from 11% to 32%. Traditional pesticides have long been a crucial tool in managing pest populations. However, the emergence of pest resistance to these chemicals, coupled with environmental and health concerns, has led to a reduction in their usage. Integrated Pest Management (IPM) offers an alternative approach. Defined as a preventative strategy, IPM creates an unfavorable environment for pests through techniques such as systemic resistance and operational design. IPM is a multi-faceted approach that incorporates inspection, monitoring, reporting, and the judicious application of pesticides only when necessary, during a pest's life cycle. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Fertilizers
  • Pesticides
• Application
  • Cereals and grains
  • Oilseeds and pulses
  • Fruits and vegetables
• Distribution Channel
  • Distributors and retailers
  • Direct sales
  • Online sales
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
  • South America
    • Brazil
  • Middle East and Africa
    • South Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing use of herbicides
• Growing demand from developing countries
• Technological improvements leading to efficient methods of agriculture

However, the market also witnesses some limitations, which are as follows:

• Competition from alternatives
• Increasing health concerns
• Regulatory laws and obligations

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Market Scope in Agrochemicals Market Research Report

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Research Analysis Overview

The Agrochemicals Market encompasses various products such as Microbial Pesticides, Fungicides, Herbicides, Insecticides, Growth Promoters, Biocontrol Agents (Fungal, Bacterial, Viral), Organic Fertilizers, Green Manure, Soil Amendments, and Soil Testing. Key challenges include Fungicide and Herbicide Resistance, Nutrient Deficiency, Water Stress, Drought Tolerance, and Salt Tolerance. Solutions include Climate Resilient Crops, Precision Fertilization, Variable Rate Application, Remote Sensing, Satellite Imagery, Artificial Intelligence, Machine Learning, Big Data Analytics, Blockchain Technology, Smart Farming, Internet of Things, Data Management, Decision Support Systems, Farm Automation, Agricultural Robotics, Autonomous Tractors, Genetic Engineering, Genome Editing, Crop Breeding, Genetically Modified Crops, Biotechnology Research, and Food Traceability.

Market Research Overview

The global fertilizers and agricultural chemicals industry encompasses businesses engaged in the production of fertilizers and agrochemicals, including crop protection solutions like insecticides, herbicides, fungicides, nematicides, and plant growth regulators, as well as seed treatments and those promoting soil health. Market size is determined by the revenues generated from the sale of various types of fertilizers and agrochemicals. Key growth drivers include the increasing number of new product launches by market participants, with a focus on expanding offerings to meet evolving agricultural demands. Additionally, the shift towards precision agriculture and sustainable farming practices is expected to further fuel market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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