Global Agriculture Chemicals Market, By Type (Fertilizers and Pesticides), Mode of Application (Foliar, Fertigation, and Others), Crop Type (Cereals and Grains, Oilseed and Pulses, Fruits and Vegetables, and Others) – Industry Trends and Forecast to 2031.
Agriculture Chemicals Market Analysis and Size
Farmers utilize a range of products in the agriculture chemicals market for pest control, weed management, and crop enhancement. These chemicals benefit agriculture by boosting yields, ensuring food security, and combating crop diseases. They are crucial in modern farming practices, optimizing productivity and sustaining agricultural ecosystems.
Data Bridge Market Research analyses that the global agriculture chemicals market, which was USD 260.19 billion in 2023, is expected to reach USD 430.62 billion by 2031, at a CAGR of 6.50% during the forecast period 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 - 2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Fertilizers and Pesticides), Mode of Application (Foliar, Fertigation, and Others), Crop Type (Cereals and Grains, Oilseed and Pulses, Fruits and Vegetables, and Others)
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Countries Covered
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U.S., Canada Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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Bayer AG (Germany), BASF SE (Germany), Compass Minerals (U.S.), Syngenta Crop Protection AG (Switzerland), ADAMA (Israel), Sumitomo Chemicals Co. Ltd. (Japan), Nufarm Canada (Australia), UPL (India), K+S Aktiengesellschaft (Germany), ICL (Israel), Rotam (South Korea), Corteva (U.S.), and FMC Corporation (U.S.)
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Market Opportunities
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Market Definition
Agricultural chemicals, also known as agrochemicals, are substances used in farming to enhance crop production, control pests, weeds, and diseases, and regulate plant growth. They include fertilizers, pesticides, herbicides, and fungicides. Proper use is essential for sustainable farming practices, balancing productivity with environmental and human health considerations.
Global Agriculture Chemicals Market Dynamics
Drivers
- Rising Need for Enhanced Crop Productivity
Farmers strive for enhanced crop productivity to meet rising food demands. Chemicals in agriculture such as fertilizers, pesticides, and herbicides, are indispensable tools in this pursuit. By optimizing soil nutrients, controlling pests, and managing weeds, these chemicals help farmers boost yields and ensure a sustainable and abundant food supply for growing populations.
- Growing Awareness of Food Safety and Quality
Increased consumer awareness of food safety prompts a higher demand for crops cultivated with agricultural chemicals that meet stringent safety standards. This trend reflects a growing preference for produce that adheres to regulatory guidelines, ensuring quality and minimizing health risks. Consequently, farmers are compelled to prioritize using compliant chemicals to meet evolving consumer expectations and market demands.
Opportunities
- Increasing Adoption of Biotechnology
The widespread embrace of biotechnology in agriculture, notably genetically modified seeds, has spurred the creation of pest- and disease-resistant crops. This advancement fuels demand for complementary agriculture chemicals as farmers seek effective means to safeguard their genetically modified crops and maximize yields in an ever-evolving agricultural landscape.
- Government Support and Regulations
Government policies and regulations aimed at fostering sustainable agriculture and ensuring food security play a pivotal role in shaping the adoption of agriculture chemicals. Through subsidies and restrictions, governments influence the use of these chemicals, promoting their responsible application while mitigating potential environmental and health risks, thus safeguarding the long-term viability of agricultural practices.
Restraints/Challenges
- Volatility in Raw Material Prices
Fluctuations in petrochemical and mineral prices directly affect agriculture chemical manufacturing costs, influencing pricing strategies. Rapid shifts in these raw material prices can disrupt cost structures, leading to adjustments in product pricing. Such volatility poses a significant challenge for manufacturers in maintaining competitive pricing while ensuring profitability in the agriculture chemicals market.
- Growing Environmental Concerns
Increasing awareness of environmental issues such as water contamination, soil degradation, and concerns about non-target organism impacts heightens scrutiny of agricultural chemical usage. Public and regulatory pressure to minimize chemical inputs is mounting, pushing for sustainable farming practices and alternative solutions to mitigate environmental harm and safeguard ecosystems.
This global agriculture chemicals market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global agriculture chemicals market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In December 2022, ADAMA Ltd. finalized the acquisition of AgriNova New Zealand, Ltd., a leading manufacturer of crop protection solutions, biosolutions, and plant growth regulators. This strategic move enhances ADAMA's presence in the agriculture chemicals market by broadening its product portfolio in New Zealand, encompassing plant nutrition, growth regulators, and biologicals, fortifying its competitive stance and diversifying its offerings
- In February 2022, Adama launched Timeline FX, a cutting-edge cross-spectrum spring foliar herbicide tailored for cereals. Featuring three Active Ingredients with synergistic modes of action and an integrated adjuvant, it offers the widest application window among herbicides, addressing broadleaf and grass weeds in cereal crops, contributing to advancements in the agriculture chemicals market
- In January 2022, Yara and Lantmännen allied to launch fossil-free fertilizers to the market. This collaboration culminated in a commercial pact for eco-friendly fertilizers produced by Yara and distributed by Lantmännen in Sweden, marking a significant stride in sustainable agriculture chemicals, aiming to address environmental concerns and meet evolving consumer demands
Global Agriculture Chemicals Market Scope
The global agriculture chemicals market is segmented on the basis of crop type, mode of application, and type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Fertilizers
- Pesticides
Mode of Application
- Foliar
- Fertigation
- Others
Crop Type
- Cereals and Grains
- Oilseed and Pulses
- Fruits and Vegetables
- Others
Global Agriculture Chemicals Market Regional Analysis/Insights
The global agriculture chemicals market is analysed and market size insights and trends are provided by country, crop type, mode of application, and type as referenced above.
The countries covered in the global agriculture chemicals market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.
Asia-Pacific is expected to dominate the market, buoyed by escalating disposable incomes, swift urbanization, and the modernization of the food sector. With growing demand for high-quality produce, the region witnesses increased adoption of agricultural chemicals, driving innovation and investment to meet evolving agricultural needs and ensure food security.
Europe is expected to grow in the market, driven by increased investment in the sector and the adoption of advanced water preservation technologies. This strategic focus fosters sustainable agricultural practices, improving productivity and resilience to environmental challenges while ensuring efficient resource utilization for future growth and development.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Agriculture Chemicals Market Share Analysis
The global agriculture chemicals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global agriculture chemicals market.
Some of the major players operating in the global agriculture chemicals market are:
- Bayer AG (Germany)
- BASF SE (Germany)
- Compass Minerals (U.S.)
- Syngenta Crop Protection AG (Switzerland)
- ADAMA (Israel)
- Sumitomo Chemicals Co. Ltd. (Japan)
- Nufarm Canada (Australia)
- UPL (India)
- K+S Aktiengesellschaft (Germany)
- ICL (Israel)
- Rotam (South Korea)
- Corteva (U.S.)
- FMC Corporation (U.S.)
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