The global agrochemicals market is projected to surpass USD 260 billion by the end of 2021, growing with a CAGR of 3.3% from 2016 to 2021.
Agrochemicals are specialty chemical products used particularly in agriculture, horticulture and floriculture.
It includes broad range of pesticides, synthetic fertilizers, hormones and other chemical growth agents.
Growth in demand for food grains owing to increasing global population coupled with reducing per capita farm land due to surging urbanization and industrialization is one of most dominant driver of global agrochemicals market.
The increasing research and development (R&D) in the fields of bio-pesticides in order to compete with organic farming and integrated pest management (IPM) is one of the most recent trends in global agrochemicals market.
The report segments the global agrochemicals market by type, crop type, and region. The types include fertilizers and pesticides.
Similarly, the crop types include cereals & grains, oilseeds & pulses, fruits & vegetables, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World.
Asia Pacific is the largest market for agrochemical followed by North America and Europe whereas the per-hectare consumption of Agrochemicals is North America is highest among all regions.