Agrochemical Market Growth Prices, Resources and Revenue by 2023
Growth of horticulture & floriculture, increasing
awareness towards the use of fertilizers and pesticides coupled with the
increasing literacy rate among farmers in major crop producing countries is
boosting the global agrochemicals market. One of the major drivers for the
market is the growth of agrochemicals in demand for food grains, due to to
increasing global population along with decreasing per capita farm land due to
sudden rise in urbanization and industrialization.
Agrochemical is a general term for the different kinds of
chemical products used in agriculture. Agrochemicals refer to the broad range
of pesticides, including herbicides, fungicides, insecticides and nematicides.
The global agrochemicals market can be categorised on the
basis of product types into fertilizers and pesticides. Based on different type
of fertilizers, the global agrochemicals market can be divided into
nitrogenous, potassic and phosphatic fertilizers. On the basis of pesticides,
the agrochemicals market can be classified into neonicotinoides,
bio-pesticides, organophosphates and pyrethroids pesticides.
The huge export potential of agrochemicals is a major
opportunity by which the agrochemical market is expected to expand in the next
few years. With approximately 40% of the total farmland under crop production,
there is a significant unserved market to tap into by various countries
Read summary of market report here : https://www.psmarketresearch.com/market-analysis/agrochemicals-market
Some of the top competitors in the global agrochemicals
market are Monsanto Company, Bayer AG, Syngenta, BASF SE, Sumitomo Chemical
Co., Ltd., Agrium Inc., The Dow Chemical Company, Yara, and ICL among others
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