Agrochemicals Market Key Players, Trends, Growth
Opportunities and Industry Forecast till 2023
“The market is projected to witness a significant rise in
world population by 2023 that will create a tremendous
demand for food. To sustain the massive demands,
emerging economies will have to raise the food production
resulting into more yield.”
The global agrochemicals market is set to witness a higher CAGR during the forecast period. In order to increase
agricultural production in quality and quantity, the agriculture sector finds the significant use of agrochemicals.
Fertilizers and pesticides are classified as components of agrochemicals market, which are further categorized
according to their purpose, nature and use.
The market is projected to witness a significant rise in world population by 2023 that will create a tremendous
demand for food. To sustain the massive demands, emerging economies will have to raise the food production
resulting into more yield. In order to serve this purpose, farmers will double the use of agrochemicals in some
or the other form. On a commercial level, marketing activities seem to quadruple depending on socio-economic
and socio-political policies in respective countries.
Agrochemicals market is driven by growing awareness among farming communities in the developing nations
coupled with pursuit of innovative farming practices. Rise in population and food demands are moreover
supplementing the market growth during the forecast period. Cultivation of perennial and seasonal crops are
more likely to contribute to the market growth during the forecast period.
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The market is bifurcated as fertilizer agrochemicals and pesticide agrochemicals. Pesticide segment entails
organophosphates, neonicotinoids, organophosphates and pyrethoids. Fertilizer segment comprises