Agrochemicals Market | 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 agrochemicals market is expected to grow by USD 35.53 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

Request challenges and opportunities influenced by COVID-19 pandemic - Request a Free Sample Report on COVID-19 Impacts

The growing awareness about health and fitness has increased the consumer demand for fruit and vegetables. This has increased the use of herbicides in the agricultural sector for growing a variety of crops such as cereals, grains, vegetables, oilseeds, and pulses. This has attracted huge investments in the development of a wide range of herbicides that are effective and eco-friendly. These factors are positively influencing the growth of the global agrochemicals market.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40986

As per Technavio, the growing demand from developing countries 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: Growing Demand from Developing Countries

The rising demand for food and a reduction in arable land, especially in developing countries such as China and India have increased the demand for agrochemicals. These two countries are largest in terms of population with a rural belt of 67.2% and 44% in China and India respectively. Also, the combined agricultural output in these countries is higher than the European Union. All these factors are providing significant growth opportunities for agrochemical manufacturers and driving the market growth.

“Implementation of IPM as new method of crop protection and technological advancements in the agriculture sector will further boost market growth during the forecast period”, says a senior analyst at Technavio.

Register for a free trial today and gain instant access to 17,000+ market research reports

Technavio's SUBSCRIPTION platform

Agrochemicals Market: Segmentation Analysis

This market research report segments the agrochemicals market by Product (Fixed FSW equipment and Mobile FSW equipment) and Geography (MEA, South America, Europe, North America, and APAC).

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

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:

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 focuses 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 Global Agrochemicals Market will grow by $ 35.53 bn during 2020-2024

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/