The global agrochemical additives market is anticipated to reach a valuation of US$ 2.7 Bn by 2032, with sales growing at a 4.6% CAGR over the assessment period. The need for various agrochemicals including fertilizers and pesticides is rising owing to increase in population, which trigger demand for crops and vegetables production.
While the demand for food products is rising all across the globe, cultivation area is decreasing as a result of the urbanization, industrialization, and development in the infrastructure. The market of agrochemical additives has been substantially influenced by certain socio-demographic factors, economic development, urbanization, and high demand for genetically modified crop.
Furthermore, focus on seed treatment, rationalization of rates, post-harvest agrochemical regulations, innovation funds for aggrotech, and import substitutions are expected to fuel the agrochemical additive market.
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“Growing demand for functional foods and high-nutrient food products is driving sales of agrochemical additives. In addition to this, significant government-backed investments, and subsidies for crop production across emerging economies will augment the growth in the market,” says an FMI analyst.
Key Takeaways:
- By end use, pesticides are expected to account for a dominant share oof the total demand for agrochemical additives.
- Based on crop type, the cereals and grains segment is anticipated to hold about 8% of the overall consumption.
- India is expected to emerge as a lucrative pocket in the South Asia agrochemical additives market over the assessment period.
- China will continue dominating the East Asia agrochemical additives market over the forecast period.
Competitive Landscape
Leading players operating in the global agrochemical additives market include Syngenta, Bayer, BASF, UPL, Compass Minerals, Adama Ltd., Sumitomo Chemicals., Nufarm Limited., K+S Group., and the United States’ Israel Chemical Company (Israel).
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Some recent developments in the market include:
- In Oct 2021, one of the prominent market participant United Phosphorus announced its long-term collaboration with a global bioscience company Chr. Hansen to commercialize microbial-based solutions for sustainable agriculture.
What are the Key Opportunities for Agrochemical Additives Manufacturers?
Pesticides are compounds produced through chemical or biochemical processes that include active components in a certain concentration and are intended to protect crops against weeds, diseases, and insects, as well as to reduce crop losses. Chelating agents, building blocks, pH regulators, and salification agents are all used as agrochemical additives.
To avoid pests, weeds, and illnesses, agrochemicals are diluted in specified dosages and applied to seeds, soil, irrigation water, and crops. Over the last few decades, high-purity compounds are sold in bulk to formulators, who derive formulations by adding inert carriers, solvents, surface-active agents, and deodorants. Increasing need for food production and population growth are creating opportunities for growth for manufacturers in the market.
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Agrochemical Additive Market Segmentation
By End Use:
- Fertilizers
- Pesticides
- Plant Growth Regulators
- Soil Conditioners
- Liming and Acidifying agents
By Application:
- Crop Protection
- Seed Treatment
- Soil Health
- Solvents
- Dispersants
- Preservatives
- Others
By Crop Type:
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Plantation Crops and Hydroponics
More Insights into the agrochemical additive Market Report
In its latest report, Future Market Insights offers an unbiased analysis of the global agrochemical additive market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on end use, application, crop type, and region.
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Frequently Asked Questions
- What is the current size of the global agrochemical additive market?
- What is the demand outlook for agrochemical additive in various end use industries?
- What are the agrochemical additive market’s prospects for expansion?
- Who are the leading players in the global market of agrochemical additive?
- What are the major challenges and constraints faced by the industry?
- Which are the key countries driving the global agrochemical additive market demand?
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