Agrochemicals Market Insights
“The global agrochemicals market was estimated at US$ 231 billion in 2021 and is expected to grow at a CAGR of 2.6% during 2022-2028 to reach US$ 270 billion by 2028.”

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Introduction
The agrochemicals market refers to the global industry involved in the production, sale, and use of chemicals that enhance agricultural productivity and protect crops from pests, diseases, and weeds. It encompasses a wide range of products, including fertilizers, pesticides, herbicides, insecticides, and fungicides, designed to optimize crop yield and quality.
Agrochemicals play a crucial role in modern agriculture by improving crop health, ensuring food security, and maximizing farm efficiency. The market is influenced by factors such as technological advancements, environmental regulations, and the growing demand for high-quality agricultural produce. Companies in this sector research, develop and distribute agrochemical products to support sustainable farming practices and address global food challenges.
Agrochemicals Market Dynamics
Agrochemicals Market Drivers
Increasing population - The world’s population is expected to continue growing over the coming years, reaching a peak of around 10.3 billion people in the mid-2080s, up from 8.2 billion in 2024, according to the United Nations Department of Economic and Social Affairs, Population Division. Additionally, total global food demand is projected to increase by 35% to 56% between 2010 and 2050. Accompanying this growth is a significant rise in the demand for agrochemicals.
Technological advancements - Surpassing traditional farming methods, new technological advancements—including sensors, devices, machines, and the application of chemical fertilizers through drones—are encouraging higher crop production in diverse environments and topographies. Consequently, the proportional use of agrochemicals is also increasing. The market for agrochemicals, which are essential inputs in modern agriculture, is expected to exceed 300 billion USD by 2025, according to the Annual Review of Environment and Resources journal.
Government policies - The Agricultural Chemicals Federation of India (ACFI) has recommended that the government provide incentives for agrochemical manufacturing and exports. ACFI has also called for a reduction in the Goods and Services Tax (GST) on agrochemicals from the current 18% to 5% to support both domestic and global manufacturers. In the European Union, there is a greater emphasis on Integrated Pest Management (IPM) as part of agricultural policy, which may lead to innovations in the regulation of biopesticides. Additionally, new opportunities are emerging for developing biopesticides in IPM by combining ecological science with post-genomics technologies (National Library of Medicine).
Challenges
Environmental concerns - Reckless use of agrochemicals, such as pesticides, herbicides, and fungicides, can cause significant harm to soil and marine biodiversity as well as agricultural sustainability. When pesticides are applied to a specific area or plant by farmers, they have the potential to migrate and degrade into the environment, influenced by indigenous microbial strains and physicochemical factors (National Library of Medicine, USA).
Human and animal health - The widespread use of agrochemicals has been linked to 3 million cases of pesticide poisoning in low-income countries, according to the World Health Organization (WHO). Additionally, these chemicals can drift over long distances and pose fatal risks to both humans and animals.
Changing trends from consumer end - Rising health concerns among people of all age groups and changing dietary patterns are drawing attention to the global shift towards organic and chemical-free produce. The global organic food market size was estimated at USD 228.35 billion in 2024 and is anticipated to reach around USD 658.38 billion by 2034, expanding at a CAGR of 11.17% from 2024 to 2034.
Development of GMO crops - Most of the GMO crops grown today have been developed to help farmers prevent crop loss. The three most common traits found in GMO crops are resistance to insect damage, tolerance to herbicides, and resistance to plant viruses (US Food & Drug Administration). Both producers and cultivators consider GMO crops to be more beneficial than chemically treated crops.
Opportunities
Precision agriculture and the use of AI: Generative AI is increasingly being used to design novel agrochemicals and optimize formulations. AI models can generate chemical structures with desired properties more quickly than traditional methods, accelerating the development of effective pesticides and fertilizers tailored to specific crops and environmental conditions.
Introduction of new products: The development and introduction of new agrochemical products rely on advanced tools, streamlined processes, and strategic practices such as molecular modeling, computational chemistry, field trials, and data analytics. Successful examples include innovative products that have received positive market reception and demonstrated environmental benefits, potentially driving the growth of the global agrochemical market.
COVID-19 Impact
The COVID-19 pandemic has had a mixed impact on the agrochemicals market, with both positive and negative effects. One of the positive impacts of the pandemic has been an increase in demand for food due to panic buying and stockpiling, which has led to increased demand for agrochemicals. Farmers have been striving to meet this demand and have continued to use agrochemicals to improve crop yields and protect crops from pests and diseases.
The pandemic has also caused disruptions to the supply chain for agrochemicals, with logistical challenges, labor shortages, and disruptions to manufacturing and transportation. This has led to supply chain constraints and increased prices for some agrochemical products. Additionally, the economic impacts of the pandemic have led to reduced purchasing power in some markets, which has affected demand for agrochemicals.
The closure of restaurants and food service establishments has also impacted demand for certain crops and thus the use of agrochemicals to grow them. Overall, the impact of the COVID-19 pandemic on the agrochemicals market has been mixed, with some positive and negative effects. The long-term impact will depend on how the pandemic continues to unfold and the extent to which the global economy can recover.
Segments' Analysis
Product Insights
The market is categorized into fertilizers and crop protection chemicals. Fertilizers are products used to provide nutrients to crops and improve soil fertility. They can be further categorized into nitrogenous, phosphatic, and potassic fertilizers based on the primary nutrient they provide. Fertilizers are essential for improving crop yields and ensuring sustainable agriculture practices.
Crop protection chemicals, also known as pesticides, are products used to protect crops from pests, diseases, and weeds. They can be further categorized into insecticides, herbicides, and fungicides based on the type of pest or disease they target. Crop protection chemicals are crucial for ensuring food security by preventing crop losses due to pest infestations and diseases.
Both fertilizers and crop protection chemicals are important products in the agrochemicals market, and their demand is expected to grow due to the increasing global population and demand for food. However, there are also concerns about the negative environmental and health impacts of excessive use of these products, and efforts are being made to promote sustainable agriculture practices that reduce reliance on agrochemicals.
Application Insights
The market is segmented into Cereal & Grains, Oilseeds & Pulses. Cereal and grains include crops such as wheat, rice, corn, and barley. These crops are staple foods around the world, and therefore, there is a high demand for agrochemicals to increase their yields and protect them from pests and diseases. Oilseeds and pulses include crops such as soybeans, canola, and peanuts. These crops are primarily grown for their oil or protein content and are used in various food products, such as cooking oils, margarine, and protein supplements.
As with cereal and grains, there is a high demand for agrochemicals in oilseeds and pulses to increase yields and protect them from pests and diseases. Other crop categories for agrochemicals include fruits and vegetables, cotton, and sugarcane. The demand for agrochemicals varies depending on the crop type and the region where they are grown. For example, the demand for cotton pesticides is high in the United States, whereas the demand for rice pesticides is high in Asia.
Overall, the application segment of the agrochemical market is an important factor to consider when analyzing the demand for agrochemical products, as different crops have different needs and challenges in terms of pest control and nutrient management.
Regional Insights
“Asia-Pacific holds the world's largest agrochemicals market, with North America also being a significant market ”.
The market can be segmented by region into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific market for agrochemicals is the largest in the world, driven by the significant agricultural industry and the need to increase food production to feed the growing population.
Overall, the demand for agrochemicals varies depending on the region due to differences in climate, soil type, crop type, and government regulations. However, the global market for agrochemicals is expected to grow due to increasing demand for food and the need to improve agricultural productivity.
North America is a significant market for agrochemicals due to its large agricultural industry. The demand for agrochemicals in North America is driven by the need to increase crop yields and protect crops from pests and diseases. The European market for agrochemicals is driven by the demand for sustainable agriculture practices and the need to reduce the use of harmful chemicals.

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Key Players
The following are the key players in the Agrochemicals market (arranged alphabetically)
- Adama Agricultural Solutions Ltd.
- America Vanguard Corporation
- Arysta Lifesciences Corporation
- BASF SE
- Bayer CropScience AG
- DuPont de Nemours, Inc.
- FMC Corporation
- Jiangsu Yangnong Chemical Group Co. Ltd
- Monsanto Company
- Nufarm Limited
- Sumitomo Chemical Co. Ltd
- Syngenta AG
- The Dow Chemical
The competitive landscape of the agrochemicals market is highly competitive and fragmented, with numerous players operating in the market. Other significant players in the agrochemicals market include DuPont de Nemours, Inc., Sumitomo Chemical Co., Ltd., and FMC Corporation.
These companies compete based on product quality, innovation, and pricing strategies to maintain their market share and gain a competitive advantage. The agrochemicals market is expected to continue to grow in the future, driven by increasing demand for food and the need to improve agricultural productivity.
Note: The above list does not necessarily include all the top players in the market.
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Recent Developments of Agrochemicals Market
Recent Mergers & Acquisitions
Several companies have made significant investments in the Agrochemicals market in recent years. Some of these investments include:
- Bayer acquired Monsanto for $63 billion, creating the world's largest agrochemical company. This acquisition gave Bayer control of Monsanto's popular herbicide brand, Roundup, as well as its genetically modified seed business.
- Dow Chemical and DuPont merged to form DowDuPont. The new company split into three separate entities including Corteva Agriscience, which focuses on agrochemicals and seed production.
- Chinese chemical company Sinochem purchased a majority stake in Israeli agrochemical company Adama Ltd. for $2.4 billion. This acquisition gave Sinochem a stronger presence in the global agrochemicals market.
- BASF acquired a range of businesses from Bayer for $7 billion, including its vegetable seeds business and its digital farming platform.
These investments are a reflection of the growing demand for agrochemicals and related products, driven by the need to increase global food production to feed a growing population. However, the use of agrochemicals has also been the subject of controversy due to concerns over their environmental impact and potential health risks.
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Key questions this report answers
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Relevant contents in the report
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In-depth Analysis of the Agrochemicals Market
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The market forecast and trend data and emerging trends
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Global, regional, and country-level historical data and forecasts
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Market segment analysis and Forecast
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Competitive landscape analysis, Market share analysis
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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Drivers & challenges
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Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s agrochemicals market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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