Agrochemicals Market Size, Share, Growth And Research Report To 2020: Grand View Research, Inc.
Increasing food demand on account of growing population is expected to a key driving factor for the global agrochemicals market growth. Agrochemicals are widely used to provide nutrients and protect plants from diseases. Declining arable area and growing food demand have raised the need for increased crop productivity. Rising incidences of pests, fungi and bacteria affecting plant yield have driven the demand for fertilizers. Fertilizers provide crops with essential nutrients such as nitrogen, potassium and phosphorous. Growing fertilizer demand is expected to augment the global market growth over the forecast period.
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Growing concerns regarding crop wastage are expected to drive pesticide demand which in turn is expected to further drive the global agrochemicals market. Increasing R&D by agriculturists to develop genetically modified seeds in order to naturally improve immunity of crops is expected to pose challenges to agrochemicals demand. Stringent environmental regulations by EPA and European Commission regarding toxic substances present in agrochemicals are expected to further challenge the market growth. In order to counter such environmental hazards, market participants have been actively involved in developing toxic free agrochemicals.
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Asia Pacific is a major regional market is expected to register significant growth rates over the forecast period on account of rising food demand and growing industrial agriculture sector. Increasing population in Southeast Asian countries such as Malaysia and Indonesia are expected to drive food demand which in turn is expected to drive Asia Pacific agrochemicals market growth. Increasing food consumption in China and India on account of improving life standards is expected to further complement the Asia Pacific market growth. Some of the major companies operating in the global agrochemicals market include BASF, Bayer AG, Syngenta, Sumitomo Chemicals, ICL, Dow Agro Sciences and Agrium.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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