Sustainable Agrochemicals Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the global sustainable agrochemical market was valued at USD XX.X billion in 2022, and a CAGR of 9.8% is expected during the forecast period. Driven by a profound shift in sustainability practices, the market has witnessed significant growth during the forecast period. Increasing demand for organic food because patients have become more health conscious is the key reason behind the significant growth in the market. Governments and international bodies are implementing stringent regulations to reduce the environmental impact of conventional agrochemicals.

Policies promoting sustainable farming practices and the use of eco-friendly chemicals are encouraging the adoption of sustainable agrochemicals. Innovations in agrochemical formulations such as bio-based pesticides and fertilizers are making sustainable options more effective and accessible. Growing awareness of climate change and its effect on agriculture is a very important factor, and various global initiatives aimed at promoting sustainable agriculture are increasing the adoption of sustainable agrochemicals.

Growth Drivers

With a growing global population, the demand for food production has increased. Sustainable agrochemicals help in enhancing crop yields and protecting against pests and diseases while minimizing environmental impact, making them crucial for meeting food production needs. Governments and international organizations are implementing stricter environmental regulations that promote the use of eco-friendly and sustainable agricultural practices. Growing consumer preference for organic and sustainably produced food.

This has led to increased demand for sustainable agrochemicals that support organic farming and reduce chemical residues in food products. Innovation in biotechnology, precision agriculture, and green chemistry is driving the development of more effective and environmentally friendly agrochemicals. These advancements make sustainable agrochemicals more attractive and accessible to farmers. Climate change and depletion of natural resources are forcing the agricultural sector to adopt more sustainable practices. Agrochemical companies are increasingly adopting sustainability as a core business strategy. Government, NGOs, and private companies are investing in sustainable agriculture initiatives.

Shift towards integrated pest management practices, which combine biological, cultural, and chemical methods to manage pests, is boosting the demand for sustainable agrochemicals that fit within this holistic approach. Increasing demand for fertilizers to grow better crops in an efficient way is driving growth in the market significantly.

Segmentation

Crop Type

·         Cereals and Grains

·         Oilseeds and Pulses

·         Fruits and Vegetables

·         Others

By Mode of Application

·         Foliar

·         Fertigation

·         Others

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Global Sustainable Agrochemicals Market by Crop Type Segmentation

On the basis of crop type, the global sustainable agrochemicals market is segmented into fruits and vegetables, cereals and grains, oilseeds and pulses, and others. Cereals and grains are the leading segment and are expected to dominate the market during the forecast period due to its vast area of cultivation across the globe. The majority of the cereal and grain consumption is in the Asia-Pacific region and in countries like China and India due to their high populations. The demand for fertilizers and pesticides is also increasing in the region to grow crops efficiently.

Due to rising health concerns among the people, the need for fresh fruits and vegetables is also increasing. A shift towards integrated paste management practices is driving growth in the market significantly. A high level of consumer awareness all over the world about the consumption of cereals and grains and fruits and vegetables is driving the demand in the market significantly. Increasing demand for pulses all over the world has increased due to rising awareness of protein diet in food items taken by people. Rising health awareness among people all over the world has increased the demand and supply for pulses. China and India are the biggest markets for export-import all over the world.

 Regional Outlook

On the basis of the regions, the global sustainable agrochemicals market is segmented into Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe. North America is the leading segment and is expected to dominate the market during the forecast period due to the high level of consumer awareness and demand for organic and sustainably produced food. The United States has advanced agricultural practices and significant investment in sustainable farming.

The region has stringent regulations regarding the use of conventional agrochemicals, driving the demand for sustainable alternatives. The Asia Pacific market, on the other hand, is an emerging one, and due to increasing focus on sustainable agriculture government initiatives and the large agricultural base in countries like China and India, it is witnessing significant growth during the forecast period. The presence of key players in American and European countries is driving the growth in the market significantly. European countries like Germany, France, Russia, England, and Nordic countries are witnessing significant growth due to increasing adoption and awareness of organic food. Due to advanced agricultural practices, the region is witnessing significant growth during the forecast period.

Rising disposable income and innovation in technology and modern agricultural practices are driving the demand in the market significantly. The Middle East is witnessing slow growth during the forecast period due to less land available for agriculture. Latin America is the region that is a large producer of organic food like spirulina; increasing demand for spirulina and other types of organic food has boosted the growth in the Latin American market. Increasing demand for soil nutrients in the form of macro- and micronutrients is driving the growth in the market significantly.

The United States is one of the world’s largest food producers. It produces blueberries and maize in the largest quantity. The United States is the biggest export-import market. Brazil is the second-biggest market in the region due to producing soybeans in excess. Brazil and Mexico, along with the North American region, are also famous for spirulina. African countries are mostly dependent on other countries to fulfill the food needs of their population. They are heavily dependent on exports from other countries.

 Key Players

·         BASF

·         Bayer Crop Science

·         Corteva

·         FMC Corporation

·         NUFARM

·         Syngenta

·         UPL

·         ADAMA

·         ARKEMA

·         Solvay

·         SGS SA

·         Trinity Manufacturing Inc.

·         Douglas Products

·         Nippon Chemical Industrial Chemical Ltd.

·         MustGrow Biologics Inc.

·         Intertek

·         AMVAC

·         Other Players