The Latest Agrochemicals Industry Statistics Explained
The global agrochemicals market size was valued at 215.18 billion USD in 2019.
The statistic indicates that the total market value of agrochemicals worldwide was $215.18 billion in the year 2019. This figure represents the total revenue generated by the sales of agrochemical products such as fertilizers, pesticides, and plant growth regulators. The size of the global agrochemicals market is a key indicator of the importance of agriculture and food production in the global economy. It reflects the significant investment made in agrochemical inputs to enhance crop yields, protect crops from pests and diseases, and improve overall agricultural productivity. Understanding the market size of agrochemicals can provide insights into trends in agricultural practices, environmental impacts, and the overall health of the agricultural sector on a global scale.
Fertilizers dominated the agrochemicals market bringing 61.6% of the revenue in 2019.
This statistic indicates that in 2019, fertilizers held a significant market share within the agrochemicals industry, generating the majority of revenue at 61.6%. This suggests that fertilizers were the most lucrative product category within the agrochemicals market during that year. The dominance of fertilizers in terms of revenue indicates their importance in agricultural practices and their widespread use by farmers to enhance crop yields and quality. It also underscores the significant role that fertilizers play in the overall agrochemicals market, highlighting their economic impact and relevance in the agricultural sector.
The global market is expected to expand at a compound annual growth rate (CAGR) of 2.4% from 2020 to 2027.
The statistic indicates that the global market is projected to grow at a steady pace over the period from 2020 to 2027, with a compound annual growth rate (CAGR) of 2.4%. This means that on average, the market is expected to increase by 2.4% each year during this timeframe. A CAGR is a useful metric for understanding the average annual growth rate of an investment or business, as it factors in the compounding effect of growth over time. In this case, the forecasted CAGR suggests a moderate but consistent expansion of the global market in the coming years, which could be influenced by various economic, technological, and market-specific factors.
Asia Pacific region led the global agrochemical market holding over 60% market share in 2019.
This statistic indicates that in 2019, the Asia Pacific region was the dominant player in the global agrochemical market, accounting for more than 60% of the market share. This suggests that the demand for agrochemical products such as fertilizers, pesticides, and herbicides in the Asia Pacific region was substantial compared to other regions worldwide. The strong market presence in the region may be attributed to factors such as large agricultural sectors in countries like China and India, as well as increasing adoption of modern agricultural practices and technologies to improve crop yield and quality. The high market share also implies that the Asia Pacific region is a key driver of trends and developments within the global agrochemical industry.
European Union accounts for around 30% of the world’s agrochemical sales.
The statistic indicates that the European Union (EU) holds a substantial market share in the global agrochemical industry, accounting for approximately 30% of worldwide sales. This suggests that the EU is a key player in the production and consumption of agrochemical products, including pesticides, fertilizers, and other chemicals used in agriculture. The significant market presence of the EU in the agrochemical sector reflects its importance in global agricultural practices and highlights the region’s influence on shaping agricultural policies and practices at an international level. The statistic underscores the EU’s role in the global agriculture supply chain and its impact on food production and sustainability efforts worldwide.
The industry of agrochemicals is expected to generate revenue of 308.92 billion USD by 2025.
The statistic indicates that the agrochemical industry is projected to see substantial growth in revenue, reaching an estimated value of 308.92 billion USD by the year 2025. This forecast suggests a significant increase in financial activity within the sector, likely driven by various factors such as increasing global demand for agricultural products, advancements in agrochemical technology, and expanding markets for agricultural inputs. The anticipated revenue figure highlights the industry’s potential for robust financial performance in the coming years and underscores its importance within the broader agricultural and economic landscapes.
The Insecticides segment accounted for 17.3% of the total market revenue in 2019.
The statistic indicates that the Insecticides segment generated 17.3% of the overall market revenue in 2019. This means that out of all the sources of revenue within the market, including other segments like herbicides, fungicides, and fertilizers, insecticides specifically contributed to nearly a fifth of the total revenue. This information is crucial for understanding the market landscape, as it highlights the significance of insecticides as a key product category within the broader market. Marketers, policymakers, and stakeholders can use this statistic to better focus their strategies, investments, and decision-making processes within the agricultural chemicals industry.
5 largest agrochemical manufacturers in the world account for 80% of global agrochemical sales.
This statistic indicates that the agrochemical market is highly concentrated, with a significant portion of global sales being dominated by just five major manufacturers. These top companies exercise a substantial level of control and influence over the industry due to their large market share. The concentration of market power among these firms could potentially impact competition, pricing, innovation, and overall market dynamics within the agrochemical sector. This statistic highlights the importance of understanding the market structure and dynamics within the agrochemical industry, as well as the potential implications of such a high level of concentration among the top players.
Latin America and the Caribbean account for about 23% of global agrochemical market sales.
This statistic indicates that Latin America and the Caribbean region collectively comprise approximately 23% of the total market sales in the global agrochemical industry. This suggests that the region plays a significant role in the production and consumption of agrochemicals, which are chemical products used in agriculture to enhance crop production and protect against pests and diseases. The high percentage share implies that countries within Latin America and the Caribbean are major contributors to the overall demand for agrochemical products worldwide. Factors such as the region’s diverse agricultural landscape, large-scale farming operations, and a growing population could potentially drive the continued growth and importance of the agrochemical market in this area.
North America Agrochemicals market is projected to grow at a CAGR of 3.8% during 2020 – 2025.
This statistic indicates that the Agrochemicals market in North America is expected to exhibit a Compound Annual Growth Rate (CAGR) of 3.8% between 2020 and 2025. This means that the market is forecasted to experience a steady annual growth rate of 3.8% over this five-year period. The CAGR is a useful measure to assess the overall growth trend of a market, providing insight into the average yearly increase in market value without considering the fluctuations that may occur in between. This projection suggests that the North America Agrochemicals market is expected to expand gradually over the specified period, driven by various factors such as technological advancements, increasing demand for agricultural products, regulatory changes, and evolving consumer preferences.
In Brazil, agrochemicals made up 23% of total agricultural input costs in 2018.
This statistic indicates that in Brazil, agrochemicals accounted for 23% of the total expenses associated with agricultural input in the year 2018. This suggests that a significant portion of the costs incurred by farmers in Brazil was attributed to purchasing agrochemical products such as pesticides, herbicides, and fertilizers. The high proportion of expenditure on agrochemicals highlights the importance and reliance of the Brazilian agricultural sector on these inputs for maintaining productivity and managing pests and diseases. It also signifies the potential financial impact that fluctuations in agrochemical prices or regulations may have on the overall economic viability of agriculture in Brazil.
By 2026, the global Glyphosate (herbicide) market is expected to reach over 9 billion USD.
This statistic indicates the projected growth of the global Glyphosate market up to the year 2026, with an estimated value exceeding 9 billion USD. Glyphosate is a widely used herbicide in agriculture, known for its effectiveness in weed control. The anticipated increase in market size suggests a growing demand for Glyphosate products worldwide, likely driven by factors such as expanding agriculture industry, adoption of modern farming practices, and the need for efficient weed management solutions. This statistic highlights the potential economic opportunities and market trends within the Glyphosate industry, reflecting the importance of this herbicide in modern agricultural practices and global food production systems.
African agrochemical market takes just about 2% of the global agrochemical sales.
The statistic that the African agrochemical market accounts for only about 2% of global agrochemical sales denotes a relatively small market share within the global agrochemical industry. This figure suggests that the use and consumption of agrochemicals in African countries is significantly lower compared to other regions worldwide. Possible reasons for this disparity could include lower levels of agricultural intensification, limited adoption of modern farming techniques, challenges related to access and affordability of agrochemical products, as well as potential regulatory and environmental concerns. Understanding this statistic is crucial for policymakers, industry stakeholders, and development agencies to address key issues and opportunities for enhancing agricultural productivity and sustainability in the African context.
Fungicides represented around 17.8% of the global agrochemicals market share in 2019.
The statistic “Fungicides represented around 17.8% of the global agrochemicals market share in 2019” indicates that fungicides accounted for approximately 17.8% of the overall market for agricultural chemicals in the year 2019. Fungicides are a type of agrochemical specifically designed to control fungal diseases in crops, which emphasizes their significant presence and importance within the agricultural sector. This statistic highlights the substantial share of the market held by fungicides compared to other types of agrochemicals, reflecting the industry’s focus on combating fungal pathogens to protect crop yields and agricultural productivity on a global scale.
Global demand for bio-pesticides, an environmentally friendlier alternative to agrochemicals, is expected to reach $8.8 billion by 2024.
The statistic indicates that there is a growing global demand for bio-pesticides, which are considered to be a more environmentally friendly alternative to traditional chemical pesticides used in agriculture. The expected market value of $8.8 billion by 2024 suggests that consumers and agricultural producers are increasingly prioritizing sustainable and eco-friendly options for pest control. This trend reflects a wider shift towards more sustainable farming practices and a greater awareness of the environmental impacts of agrochemicals. The projected growth in demand for bio-pesticides signals opportunities for manufacturers, farmers, and researchers to further develop and promote these products as a viable and effective solution for pest management in agriculture.
Conclusion
The detailed analysis of agrochemicals industry statistics sheds light on key trends, challenges, and opportunities within the sector. By examining factors such as market size, growth projections, and regulatory issues, stakeholders can make informed decisions to navigate this dynamic industry landscape effectively. Stay updated with the latest statistics to stay ahead in the competitive agrochemicals market.
References
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