Global Agrochemicals Market 2020-2024 | The Increasing Use of Herbicides to Boost Market Growth | Technavio

Technavio has announced its latest market research report titled Global Agrochemicals Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The global agrochemicals market is expected to grow by USD 35.53 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report

Awareness about the benefits of maintaining a healthy diet is leading to an increase in the consumption of fruits and green vegetables. This is boosting the demand and production of different varieties of crops, including cereals, grains, fruits, vegetables, oilseeds, and pulses. Consequently, the demand and application of herbicides is increasing as they are used to control weeds and boost plants' resistance to pests. Farmers are also making huge investments to develop and introduce new varieties of herbicides that are more effective and eco-friendly. Many industry players are developing bio-based herbicides. Thus, the increasing use of herbicides will boost the growth of the agrochemicals market during the forecast period.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/report/global-agrochemicals-market-industry-analysis

As per Technavio, growing focus on technological improvements leading to efficient methods of agriculture will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Agrochemicals Market: Technological Improvements Leading to Efficient Methods of Agriculture

The decline in arable land resulting from rapidly growing world population is accelerating the need for improvements in agricultural production. Farmers are looking for alternatives to improve yield as well as increase the lifespan of crops. This is leading to advancements in new breeding technologies to boost the adoption of genetically modified crops. Genetic modifications improve the crop yield by increasing fertilizer absorption capacity. These crops further require agrochemicals such as pesticides to enhance the resistance against pests and yield maximum produce. Thus, with increase in technological improvements, the market for agrochemicals is expected to showcase a positive outlook during the forecast period.

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Agrochemicals Market: Segmentation Analysis

This market research report segments the agrochemicals market by product (fertilizers and pesticides), and geographic segmentation (APAC, Europe, MEA, North America, and South America).

The APAC region led the agrochemicals market in 2019, followed by South America, Europe, North America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the adoption of modern-day practices and integrated farming processes.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Some of the key topics covered in the report include:

Product Segmentation

  • Fertilizers
  • Pesticides

Geographic Segmentation

  • APAC
  • Europe
  • MEA
  • North America
  • South America

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The increasing use of herbicides will be one of the key drivers that will drive agrochemicals market growth over the forecast period.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/