Fatpos Global has released a report titled “Agrochemicals Market - Analysis of Market Size, Share & Trends for 2021 – 2022 and Forecasts to 2032” which is anticipated to reach USD 320.7 billion by 2032. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 3.2% between 2022 and 2032. As per the report, the growth of the Agrochemicals Market is attributed to the rising demand for crop protection and fertilizers in the global agricultural sector. Another important element fueling the need for agrochemicals is the growing use of chemical fertilizers by farmers to feed their crops nutrients and increase their yield.
“Population growth has led to an increase in global food consumption, which has increased demand for agricultural goods. As a result, there was a rise in the usage of agricultural chemicals to improve crop output and agricultural industry improvements. Growth in the number of homes, businesses, highways, and other infrastructure investment structures due to speedy urbanization and industrialization has resulted in a decrease in the amount of land that can be used for agriculture. Increased purchasing power and a higher standard of living are two benefits of economic growth. The eating habits of the populace change as affluence rises. The Agrochemicals Market has expanded faster than the population due to people's changing dietary preferences.”, said a lead analyst at Fatpos Global.
Agrochemicals are herbicides, pesticides, or fertilizers that are used for managing ecosystems in agricultural domains. Chemicals used in farming like insecticides, synthetic fertilizers, and herbicides. The majority are chemical mixes made up of two or more than two chemicals; the active ingredients produce the intended effects, while the inert ingredients stabilize, preserve, or facilitate the administration of the active ingredients. A major component of modern agriculture is the use of agrochemicals. The difficulties in maintaining a crop free of harm have grown as farms have become larger. Agrochemicals are therefore frequently used today to boost production. In order to increase the output of agricultural crops, the use of agrochemicals is essential.
Agrochemicals Market is categorized on the basis of Application into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others. The Cereals & Grains segment held a major portion of revenue and it is expected to continue to dominate the market during the forecast period as well. The most extensively consumed crops, particularly in Asian nations, are cereals and grains. Also, a sizable amount of the agricultural area in the world is covered by this sector. To produce cereals and grains, fertilizers are essentially always used.
Some of the key players operating in the global Agrochemicals Market are Bayer AG, The DOW Chemical Company, Evonik Industries AG, Solvay, Clariant AG, Arysta Lifesciences Corporation, UPL Ltd., Huntsman International LLC, Croda International Plc, Ashland Inc., PI Industries Ltd., Dhanuka Agritech Ltd., Excel Crop Care Ltd., Meghmani Organics Ltd (Meghmani), Insecticides India Ltd., and Other Prominent Players.
In the latest market study conducted by, Fatpos Global thrives to present an unbiased analysis of the global Agrochemicals Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2022-2032. The study includes compelling insights into growth that is witnessed in the market. Global Agrochemicals Market is classified on the basis of Product into Fertilizers, Crop Protection Chemicals, Plant Growth Regulators, and Others. By Fertilizer Type, the global Agrochemicals Market is divided into Nitrogen Fertilizer, Phosphatic Fertilizer, and Potassic Fertilizer. By Pesticide Type, the global Agrochemicals Market is divided into Herbicides, Insecticides, and Others. By Application, the global Agrochemicals Market is divided into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
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