Agrochemicals Market Size

The global agrochemicals market size was valued at $251.74 billion in 2024 and is projected to reach $324.08 billion by 2030, growing at a CAGR of 4.3% during the forecast period.

Agrochemicals Market Overview 

Agrochemicals play a pivotal role in the agriculture industry, serving as essential tools for farmers to safeguard crops from pests and diseases while enhancing yields. These chemical products, encompassing herbicides, insecticides, fungicides, and others for soil treatment and plant growth, are instrumental in elevating crop productivity. Agrochemicals, including pesticides and fertilizers, are engineered compositions designed to improve both the quantity and quality of crops. While pesticides protect crops by managing pests and weeds, fertilizers enhance crop and soil health with vital nutrients.

Agrochemicals Market Dynamics

• The agrochemicals market is expected to witness significant growth in the future due to the increasing population and the subsequent rise in demand for food, increasing the use of agricultural chemicals, and growing cases of plant diseases.

• Additionally, increasing demand for high crop productivity is the prominent factor driving the growth of the market.

• However, increasing environmental risks from pesticides, and fertilizers and increasing cost of raw materials are restraining the market growth.

• On the contrary, crop-specific nutrient management through precision farming and the drift potential of UAVs with adjuvant in aerial application are creating opportunities for market growth.

Impact of COVID-19 on the Agrochemicals Market

The pandemic accelerated some shifts in agricultural practices, including increased interest in sustainable and precision agriculture technologies. There's been a growing focus on products that support these practices, including biopesticides and other environmentally friendly agrochemicals. This shift reflects a broader trend towards sustainability in agriculture, which the pandemic has, in some cases, accelerated.

Moreover, the approval of new agrochemical products faced delays in some regions as regulatory bodies prioritized COVID-19 related approvals and measures. This had a short-term impact on the introduction of new products to the market but also underscored the importance of streamlined regulatory processes for future resilience.

By Product, Cereal & Grains Segment to Hold Major Share in the Agrochemicals Market

The Cereal & Grains segment is expected to have a huge demand in the Agrochemicals market during the forecast period owing to its being the most consumed agricultural product. Cereal and grain cultivation is a global practice, and the cultivation of these crops typically involves the application of fertilizers. The increasing consumption of cereals and grains in various regions is propelling the demand for fertilizers. Crops such as rice, wheat, and others within the Cereal & Grains segment are notable users of agrochemicals, contributing to the prevalence of this category within the agrochemicals market. This strategic focus on Cereal & Grains aligns with the imperative to meet global food demands while ensuring optimal agricultural practices.

By Geography, the Asia Pacific region is expected to have the highest CAGR during the forecast period

The Asia Pacific region is experiencing strong growth during the forecast period due to the world's leading producer of agricultural goods. This region is notably propelled by major contributors such as India, China, and Japan. China, standing as the globe's largest exporter and manufacturer of pesticides according to the International Trade Center (ITC) and FAO, India, following China, Japan, and the United States, holds the position of the fourth-largest global producer of agrochemicals, as indicated by the Organization for Economic Co-operation and Development (OECD) and FAO. The agricultural industry in the Asia Pacific region significantly influences per capita income, underscoring its paramount importance in the economic landscape.

Key Target Audience:

• Agrochemical Manufacturers and Suppliers

• Farmers and Agricultural Producers

• Environmental Groups

• Government, Regulatory Bodies, And Research Organizations

• Raw Material Suppliers of Chemicals

• Agricultural Co-Operative Societies

List of the Key Players Profiled in the Report Includes:

• YARA International

• Bayer Crop Science

• BASF SE

• Indian Farmer Fertilizer Cooperative

• TATA Rallies

• Nagarjuna Fertilizers and Chemicals Limited

• UPL Limited

• Corteva Agriscience AG

• Huntsman International LLC

• Croda International Plc

• FMC Corp.

• ADAMA Ltd.

• Helena Agri-Enterprises, LLC

• Rashtriya Chemicals and Fertilizers Ltd.

Recent Developments:

• In November 2022, Bayer AG unveiled Adengo, a pre-emergent herbicide effective against both broadleaf and grassy weeds. Adengo contains two distinct active ingredients, isoxaflutole and thiencarbazone, each with unique modes of action. This introduction by Bayer AG aims to address the requirements of corn growers, enriching the crop protection portfolio.

• In November 2022, Corteva Agriscience has launched the Kyro herbicide, a novel postemergence solution for corn, marking the debut of a product that uniquely blends acetochlor, topramezone, and clopyralid in a single formula. The US Environmental Protection Agency (EPA) has granted approval for Kyro herbicide, paving the way for its availability to American corn growers for the 2023 planting season, subject to approval by individual states.

• In August 2022, In India, UPL introduced the IMAGINE insecticide to assist farmers in managing Brown Plant Hopper (BPH) infestations. This product is designed to target jassids and stem borer pests, offering effective control. The launch of IMAGINE has strengthened UPL's efforts to combat pest invasions in paddy fields across India.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Product:

• Fertilizers

• Pesticides

• Plant Growth Regulators

• Adjuvants

Market by, Application:

• Crop-based

• Non-crop-based

Market by, Geography:

The Agrochemicals report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis

• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis

• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis

• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis

• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

What can be explored with this research report:

• Understand the key trends that will drive the market and the challenges it faces in the current market scenario.

• Identify growth opportunities.

• Porter's five force analysis.

• In-depth analysis of market segments, and regions/countries predicted to observe promising growth.

• Historical and forecast size of the market in terms of revenue (USD Million).

• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.