Global Agrochemicals Market was Valued at USD 207.4 Billion in 2014

Date: 2015-10-04

“The global agrochemicals market has been projected to reach a value of USD 250.5 billion by 2020. The market is primarily driven by the increasing demand for food in tandem with the growing global population, rising standards in agricultural farming, and extensive use of technology in agrochemicals development. Intensive R&D efforts expected to lead in delivery of enhanced yields and superior produce.

Key industry players invest extensively in R&D initiatives to expand their product portfolios. Continuous investments in new product development, launches, and acquisitions have led to growth in agrochemicals market. Key players in the industry introduces new agrochemicals to add benefits to products, which has resulted in the introduction of a new market for agrochemicals. 

Asia-Pacific holds the largest share of the global agrochemicals market. In forthcoming years, the European market is projected to grow fast, and making it the fastest revenue-generating pocket. 

The market is dominated by players such as the Israel Chemicals (Israel), Yara International ASA (Norway), The Mosaic Co. (U.S.), BASF SE (Germany), and Dow Chemical Limited (U.S.).

In this report, the global agrochemicals market is segmented into type, sub type, crop type, and region. The said market was valued at USD 207.4 billion in 2014 and is projected to grow at a CAGR of 3.2% from 2015 to 2020.

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