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Agrochemicals Market Size will register significant gains over the projected time period 2019- 2025

Author : Ronak Bora | Published Date : 2019-05-31 

Global Market Insights, Inc. added research on agrochemicals market size is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, market also includes an in-depth study of the industry’s competitive scenario.

Agrochemicals Market size is projected to witness dynamic growth owning to rise in demand for food grains. This is due to increase in global population coupled with reduced per capita farm land which is a result of surging industrialization and urbanization.

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Moreover, growth of floriculture and horticulture, increasing literacy rate of farmers coupled with rising awareness towards fertilizers and pesticides usage in major crop producing countries is further driving the global agrochemicals market size.

Increasing research and development in field of bio pesticides and evolving integrated pest management in developing countries worldwide is expected to boost the global agrochemicals market.

The major restraints for the agrochemicals market are development of organic pesticides and bio farming, increasing acceptance of genetically modified seeds by farmers and government initiatives towards integrated pest management. Further, various health and environmental hazards linked with the product is impeding agrochemicals market growth.

Prolonged use of these chemicals adversely affects environment and health of consumers. Alzheimer, cancer, diabetes, autism and asthma are some diseases linked to the continued use of product. Additionally, the product gets accumulated on land surface which contaminates ground water with nitrate, rendering it unfit for human consumption. Excess nitrate can cause eutrophication in water bodies, causing extensive fish mortality.

Agrochemicals exists in three forms named, liquid, powder and granular. The product can be categorized into pesticides and fertilizers. Fertilizers are divided into bio and synthetic fertilizers. Synthetic fertilizers are further categorized into nitrogenous, potassic and phosphatic fertilizers. Based on pesticides, they are divided into insecticides, herbicides and fungicides, which include bio based and synthetic. Nitrogenous fertilizers are projected as the fastest growing segment as they balance the nitrogen content in soil.

North America holds the largest share for agrochemicals market due to the most industrialization and commercialization region globally. In the U.S., all pesticides sold or distributed should be registered by EPA under the Federal insecticide, Fungicide and Rodenticide Act (FIFRA) to protect human health and environment. Training of workers is required in pesticide treated areas and certification for using pesticide.

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Europe agrochemicals market will register sluggish growth due to strict government regulations. European countries do not allow use of phosphate based fertilizers owing to its adverse effects on environment which will product market growth in the region.

The agrochemicals market is consolidated with presence of many manufacturing companies worldwide. Some of the key players for agrochemicals market include, BASF SE, Yara International, Dow Agro Sciences, Gharda Chemicals, Haifa Group, Zuari Agro Chemicals, Crop Science, Bayer, Syngenta, Monsanto and Dupont.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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