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Agrochemicals belongs to group of speciality chemical which includes fertilizer, herbicides, fungicides, hormones and other growth agents in chemical synthesis. The basic function of agrochemicals is to protect the crop and improve quality of soil and crop. Agrochemicals also used acts as growth agent in plants. The growing need for processed food and advanced packaging technique has improved the food & beverage sector, thereby, increasing the demand for food grain, oilseeds and vegetables. This in turn drives the agrochemical market growth.

Agrochemical Market

Agrochemicals used in fertilizers, plant growth regulators and crop protection chemicals are dominating in the market. This is attributed to increasing pest attacks on crops which results in loss of nutritional and quality of food crop. Fertilizer accounts for majority of share in global agrochemical market due to ongoing projects of increasing animal husbandry sector further generating demand for animal feed. Moreover, rising demand for micro-nutrient in crop plants has boosted the fertilizer demand in the global agrochemical market. Plant growth regulators are projected to grow at highest CAGR followed by crop protection chemicals. This plant growth regulator helps the crop to reduce harvesting time and enhance the growth of crops plants. Additionally, nitrogenous fertilizers are expected to grow significantly as its aid plant growth and most abundantly applied fertilizer found across the globe. These products improve the quality of soil and helps in nourishing nutritional value of food. 

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