Agrochemical market to reach US $68.5 billion in 2017

The Global Agrochemical industry is expected to witness good growth and reach an estimated US $68.5 billion in 2017 with a CAGR of 5.5% over the next five years. A rise in the global demand for nutritious and high-quality food and the shrinking of arable land is expected to drive the agrochemical industry over the forecast period.

 

Lucintel, a global management consulting and market research firm, has analyzed the Global Agrochemical marketand presents its findings in “Global Agrochemical Industry 2012-2017:Trend, Profit, and Forecast Analysis.”

 

The Agrochemical industry is highly consolidated and consists of insecticides, fungicides, and herbicides.Lucintel’s research indicates thatdeveloping countries such as China and India are demanding higher volumes ofnutritious food, which will increase demand for agrochemicals during the forecast period. Agrochemicals have significantly increased farm productivity in both developed and developing countries. Increased production of soybeans and sugarcane in Latin America is also driving growth in the region.

 

In the Global Agrochemical industry, APAC is forecast to witness the highest growth during the next five years. Asia and ROWrepresent growth opportunities for the Agrochemical industry. Lucintel’s research identifies China, India, Brazil, and Argentina as key growth areas during the forecast period. Countries in the APAC region (such as China, and Thailand) are projected to post strong growth in agricultural output, which will ultimately boost the Agrochemical industry.Fungicide products based on innovative technology offer efficient and long-lasting disease control and have positive effects on plant physiology, which in turn increases its adaptability across the globe.

 

The research provides a concise overview of the Global Agrochemical industry. This research report categorizes the global industry for agrochemicals on the basis of application and geography. On the basis of application it tracks three Industry segments, Insecticides, Fungicides, and Herbicides, for four geographic regions – thus it tracks twelve segments of the Global Agrochemical Industry. The scope of this study is limited to annual trends for the past five years and forecasts for the next five years.