Global Agrochemicals Market Size & Outlook, 2023-2030
Global agrochemicals market, 2018-2030 (US$M)
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Global agrochemicals market highlights
- The global agrochemicals market generated a revenue of USD 271,418.8 million in 2023 and is expected to reach USD 390,172.9 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 5.3% by 2030.
- In terms of segment, fertilizers accounted for a revenue of USD 208,936.8 million in 2023.
- Crop Protection Chemicals is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Italy is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 271,418.8 million |
| Market revenue in 2030 | USD 390,172.9 million |
| Growth rate | 5.3% (CAGR from 2023 to 2030) |
| Largest segment | Fertilizers |
| Fastest growing segment | Crop Protection Chemicals |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fertilizers, Crop Protection Chemicals, Plant Growth Regulators, Other Products |
Other key industry trends
- In terms of revenue, the North America accounted for 13.7% of the global agrochemicals market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Italy is the fastest growing regional market and is projected to reach USD 4,439.8 million by 2030.
Fertilizers was the largest segment with a revenue share of 76.98% in 2023. Horizon Databook has segmented the Global agrochemicals market based on fertilizers, crop protection chemicals, plant growth regulators, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Fertilizers are used to improve the yield of the soil. They can be classified into organic and inorganic types. Manure, fish meal, granite meal, and seaweed fall under the organic type. Inorganic fertilizers include nitrogen fertilizers, potassium fertilizers, phosphorus fertilizers, and others. Inorganic fertilizers are more commonly used since they give results quickly, as compared to organic fertilizers.
The essential nutrients in fertilizers can be divided into two broad sub segments namely, macro and micro. Macronutrients, the elements that are needed in larger quantities, include nitrogen, phosphorus, potassium, and calcium. Out of these, nitrogen is the most important nutrient.
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Agrochemicals Market Scope
Agrochemicals Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global agrochemicals market size, by regions, 2018-2030 (US$M)
Top 10 countries: Agrochemicals market size, 2023 (US$M)
Global agrochemicals market share, by product, 2023 & 2030 (%, US$M)
Agrochemicals market: Opportunity assessment by country
Global agrochemicals market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 20,025.0 | 20,915.3 | 20,276.2 | 25,745.0 | 35,474.9 | 37,230.3 | 39,104.3 | 41,102.6 | 43,233.6 | 45,508.4 | 47,934.7 | 50,424.8 | 53,172.2 | 5.2% |
| Europe | 30,727.5 | 30,094.9 | 31,502.3 | 33,324.9 | 37,428.2 | 38,611.4 | 39,869.6 | 41,219.1 | 42,656.8 | 44,192.9 | 45,838.8 | 47,583.9 | 49,458.9 | 3.6% |
| Asia Pacific | 56,289.5 | 58,649.7 | 101,180.3 | 112,966.0 | 133,595.6 | 141,084.4 | 149,128.5 | 157,785.0 | 167,105.5 | 177,153.3 | 187,998.0 | 199,698.8 | 212,353.9 | 6.0% |
| Latin America | 27,733.5 | 31,223.6 | 31,616.2 | 35,425.3 | 44,026.2 | 46,058.7 | 48,217.8 | 50,515.5 | 52,956.2 | 55,551.1 | 58,314.0 | 61,240.1 | 64,358.2 | 4.9% |
| MEA | 6,770.0 | 6,839.5 | 7,014.7 | 7,463.2 | 8,143.4 | 8,434.0 | 8,735.3 | 9,050.1 | 9,377.7 | 9,719.2 | 10,075.2 | 10,444.6 | 10,829.7 | 3.6% |
| Overall | 141,545.3 | 147,723.1 | 191,589.7 | 214,924.4 | 258,668.2 | 271,418.8 | 285,055.4 | 299,672.1 | 315,329.8 | 332,124.8 | 350,160.6 | 369,392.3 | 390,172.9 | 5.3% |
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