Agrochemical And Pesticide Market

Global Agrochemical and Pesticide Market Size (2024 to 2032)

The agrochemical and pesticide market was valued at USD 236.4 billion in 2023 and is anticipated to reach USD 245.86 billion in 2024 from USD 336.47 billion by 2032, growing at a CAGR of 4% from 2024 to 2032. 

An agrochemical or agrichemical, a varied nomenclature for agricultural chemical is as the name suggests, a chemical substance used to aid in cultivation or its concerned activities. The range of products may vary from herbicides and insecticides to fungicides and nematicides. Other substances which also fall under it include hormones, antiseptics, and other chemical growth-enhancing or inhibiting agents.

A pesticide is, in general, any substance that kills or adversely affects the life cycle of organisms that are considered to have an adverse effect on crop cultivation. The potential list of target pests can include insects, plant pathogens, weeds, mollusks, birds, mammals, fish, nematodes, and microbes that destroy property, cause nuisance, or spread disease, or are disease vectors. The management of such pests and the manufacture of chemicals used for the same purpose has turned out to be a multi-million-dollar industry.

Market Drivers

The growth of the agrochemical and pesticide market is mainly driven by increasing health awareness among consumers and the increased demand for food production. Consumers are also demanding different varieties of organic and eco-friendly agrochemicals. Other drivers of the market include the lack of arable land, favorable government policies towards agriculture and the technological advancements and research done in the field. In spite of the numerous advantages, the market still continues to be hampered by the lack of unified standards for safety as well as pricing.

REPORT COVERAGE

REGIONAL ANALYSIS

The Agrochemical and Pesticide Market is dominated by North America in 2016 with the region accounting for 36% of the overall market share. North America was followed next in line by Europe and Asia-Pacific. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. Another promising region for the market is Latin America, which is expected to show high growth rates in the coming years.

KEY MARKET PLAYERS

Bayer, Dow AgroSciences, Monsanto, BASF, Adama, Nufarm, Syngenta, DuPont, Qingdao Kyx Chemical, Jiangsu Huangma Agrochemicals, Jiangsu Changqing Agrochemical, Albaugh, Gharda, Jiangsu Yangnong Chemical Group, Nanjing Red Sun, Jiangsu Changlong Agrochemical, Yancheng Limin Chemical, KWIN Joint-stock, Jiangsu Pesticide Research Institute Company, Hubei Sanonda, Zhejiang Hisun Chemical, Bailing Agrochemical, Hailir Pesticides and Chemicals, Jiangsu Fengshan Group, Hebei Yetian Agrochemicals, Xinyi Zhongkai Agro-chemical Industry, Shandong Qilin Agrochemical

DETAILED SEGMENTATION OF THE GLOBAL AGROCHEMICAL AND PESTICIDE MARKET INCLUDED IN THIS REPORT

This research report on the global agrochemical and pesticide market is segmented and sub-segmented into the following categories.

By Application

• Agricultural
• Garden
• Other

By Type

• Insecticides
• Antiseptics
• Herbicides
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa