Global Agrochemicals Market to Grow at 4.1% CAGR to 2025, Forecasts Grand View Research in Its Study Available at MarketPublishers.com
24 Jul 2017 • by Natalie Aster
LONDON – Worldwide, the agrochemicals market is projected to gain traction at a 4.1% CAGR to reach USD 308.92 billion by end-2025. The main factor poised to stimulate the market growth in the foreseeable future is the rising demand for crop protection chemicals, like herbicides, fungicides, and insecticides.
Fertilizers captured a share of 58.8% of the market as of 2016, by revenue, and are likely to keep on observing growth owing to the increasing pressure on farm land to improve crop yield in the short run. Phosphate and nitrogenous fertilizers were the most commonly used due to their low prices and availability. Meantime, the novel trend of organic farming has raised the demand for biofertilizers.
The value of the cereals & grains application segment stood at USD 80.01 billion as of 2016. The segment is poised to see remarkable growth due to the soaring demand for whole grain foods.
APAC is forecast to witness the most rapid growth in the offing on account of the expanding agro-based industry sectors such as textiles, sugar, vegetable oil production, and animal husbandry.
Agrium, Bayer CropScience, and Yara International were amid the leading manufacturers as of 2016 with distribution networks across all regions.
The in-demand research report “Agrochemicals Market Analysis” drawn up by Grand View Research offers an up-close look at the market on a global level. It gives an all-round overview of the marketplace, and provides detailed market segmentation by product and application, covering their market estimates and forecasts. A geographical market analysis is also included. The study offers an all-round value chain analysis, raw materials trends, PESTEL analysis and Porter’s analysis of the market. The research study explores the competitive scenario and profiles the top 12 industry players. Future outlook for this market is provided in the research report, too.
More insightful market research reports by Grand View Research are available at its page.