The North American agrochemicals market is predicted to be worth USD 63.60 billion in 2024 and reach USD 73.51 billion by 2029, growing at a CAGR of 2.94% during the forecast period from 2024 to 2029.
The agrochemicals market is estimated to be one of the most crucial segments of agro-inputs, owing to the intensifying commercial farming of high-value crops to meet the growing diversified food demand. As such, agrochemicals are witnessing a significant demand since farmers are resolute in attaining nutritious and high-quality crop production.
Agrochemicals’ job is to defend crops, boost crop yields, and sustain the food and soil quality. Another vital role of agrochemicals is to alter the growth progression of the plants. Agrochemicals are therefore seen as those products that boost the return on investment and also help meet farmers' and customers' demands from the economic and health standpoint with growing per hectare production of quality crops.
The growth of the North American agrochemicals market is majorly driven by factors such as a wide range of pest control applications of agrochemicals and decreasing arable land. This market is also propelled by factors such as meticulous research & partaking of intellectual property rights and increasing R&D investments. However, it has been discovered that the continued use of agrochemicals has harmfully affected the health of users and also the environment. Cancer, autism, and Alzheimer’s are some of the ailments associated with the extended use of agrochemicals. Furthermore, agrochemicals get amassed on the land surface and may even pollute groundwater.
The North American market, which is the second major consumer of agrochemicals has been geographically segmented into US and Canada. This region has the highest per-hectare intake of Agrochemicals globally. The development of crops such as oilseeds and sugarcane is mainly anticipated due to the broadening applications such as feed, fuel, and other industrial applications, which in turn drives the market in this region.
The market for agrochemicals is extremely consolidated and streamlined owing to the domination of the market by a handful of companies. Some of the major companies dominating this market are Bayer Crop Science., Dow-DuPont, Syngenta AG, BASF SE, Agrium Inc., Monsanto Company, Israel Chemicals Ltd., Yara International ASA, Mosaic Company and Sociedad Química Y Minera S.A.
Frequently Asked Questions
The North America agrochemicals market is worth USD 61.78 billion in 2023
Herbicides dominate the North American agrochemicals Market, accounting for the largest market share due to their widespread use in weed control across various crops.
Corn, soybeans, and wheat are major crop segments driving the demand for agrochemicals in North America, reflecting the region's focus on staple crops and biofuel production.
Sustainable agriculture practices, including the use of precision farming, organic farming, and reduced-impact agrochemicals, play a crucial role in shaping the North American agrochemicals Market as consumers prioritize environmentally friendly options.
Bayer Crop Science., Dow-DuPont, Syngenta AG, BASF SE, Agrium Inc., Monsanto Company, Israel Chemicals Ltd., Yara International ASA, Mosaic Company and Sociedad Química Y Minera S.A.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region