Lucintel Forecasts Agrochemical Market To Reach $495 Billion By 2028

By Author: Lucintel LLC
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According to the recent study the Agrochemical Market is projected to reach an estimated $495 billion by 2028 at a CAGR of 3.9% from 2023 to 2028. Growth in this market is primarily driven by growing population, limited agricultural land, and increase in awareness in the consumers regarding the benefits of agrochemicals.
Browse 107 figures/charts and 68 tables in this 205 -page report to understand trends, opportunities and forecast in agrochemical market by product type (fertilizer and pesticide) and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Fertilizer market is expected to remain the largest segment during the forecast period.”
Based on product type, the agrochemical market is segmented into fertilizer and pesticide. Lucintel forecasts that the fertilizer market is expected to remain the largest segment due to its better cleansing and moisturizing properties due to growing demand for nitrogen fertilizers by farmers including synthetic ammonia, nitric acid, ammonium nitrate, and urea.
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“Asia pacific will dominate ...
... the agrochemical market in near future.”
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing population and growing demand for sustainable production of food.
Major players of agrochemical market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Bayer, BASF, Yara International, Compass Minerals, Syngenta, Agrium Inc., DOW Agrosciences (Corteva), Monsanto, The Mosaic, Sumitomo Chemical are among the major agrochemical providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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