LONDON--(BUSINESS WIRE)--Infiniti Research, a world-renowned market intelligence solutions provider, has announced the completion of their latest list blog on the five biggest challenges in the agrochemical industry.
Modern farming techniques involve the use of agrochemicals extensively to improve crop yield, increase plant growth, protect crops against pests, and neutralize the soil. Farmers use many kinds of agrochemicals including insecticides, herbicides, fungicides, and seed treatment to augment their agricultural output. The agrochemical industry is undergoing rapid growth, and it has its own set of challenges. The use of certain agrochemicals has been linked with environmental and ecological damages. Infiniti has listed the five biggest challenges in the agrochemical industry in this blog.
“The global consumption of agrochemical is on a rise as arable land is shrinking due to rapid industrialization and population expansion,” says an industry expert from Infiniti.
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Biggest challenges in the agrochemical industry:
- Regulations: The cost of developing new products is increasing due to many national and international laws imposed on the global agrochemical industry. Since manufacturers must consider numerous regulations, there is a suspension in the introduction of new products in the market. Also, different nations will have variable requirements. As a result, foreign companies need to submit technical grade registrations with the full record. Such processes further increase the difficulties for overseas suppliers who have to perform additional tests and studies to get approval for selling the agrochemical within the region.
- Rising popularity of pest-resistant GM crops: Crops have developed resistance to pests due to the advances in genetic science. These crops will be poisonous to certain insects but harmless for humans. As a result, such BT crops do not need pesticides and agrochemicals for it to grow. Pest-resistant GM-maize crops are extensively used in the US and are further used in industrial-scale biofuel. The growth and development of such crops can pose a risk to the growth of the global agrochemicals market as they would not be needed to be applied to BT crops.
- Adverse agrochemicals affect: The continued use of agrochemicals is identified to have adverse effects on animal life, human life, and general soil health. Some of the diseases such as Alzheimer’s, autism, asthma, and diabetes are caused by the use of agrochemicals. In most cases, agrochemicals get collected in the groundwater and surface run-offs and can move towards the non-targeted area. This will have a negative impact on the health and safety of residents. Consequently, some regions have started imposing restrictions on the extreme use of agrochemicals and implemented stringent laws.
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Infiniti Research is a global market intelligence company offering strategic insights to help look beyond market disruptions, study competitive activity, and develop intelligent business strategies. Listed below are the five biggest challenges in the agrochemical industry.
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