Global Agrochemicals Market to Grow at a CAGR of 3.4% by 2021: Huge Investments in Development of New Varieties of Herbicides

The global agrochemicals market to grow at a CAGR of 3.47% during the period 2017-2021.

The report, Global Agrochemicals Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

One trend in the market is mergers and acquisitions leading to market consolidation. The global agrochemicals market is fragmented; therefore, none of the players have a major foothold. With the goal of gaining an advantage, many companies have stepped forward to reduce competition. For example, Agrium's merger with PotashCorp in 2017, will lead the integration of a crop input company with a retail distribution platform. This merger will offer the added advantage of low production cost for potash and nitrogen.

According to the report, one driver in the market is increasing use of herbicides. Huge investments are being made for the development of new varieties of herbicides that are more effective and eco-friendly. Most of the modern herbicides are formulated to decompose within a short span after application. Applications of herbicides are spread across varieties of crops, including cereals, grains, fruits, vegetables, oilseeds, and pulses. The shifting presence of consumers toward fruits and green vegetables, propelled by the increasing awareness regarding health and fitness, fuels the use of herbicides in agricultural applications.

Further, the report states that one challenge in the market is increasing health concerns. Farmers and their families are highly exposed to traditional pesticides-related diseases. As per analysis, there is a rise in the number of cardiovascular diseases by 40%, leukemia and lymphoma by 80%, and prostate cancer in male farmers by 136%. It was observed that children living in contact with pesticides are twice likely to develop brain cancer than others who are not in contact with pesticides. Another study suggests healthy American farmers faced surprising incidents of leukemia, Hodgkin's disease, non-Hodgkin lymphoma, and other forms of cancer.

Key vendors

Other prominent vendors

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Research Methodology

PART 04: Introduction

PART 05: Market landscape

PART 06: Market segmentation by product type

PART 07: Geographical segmentation

PART 08: Decision Framework

PART 09: Drivers and challenges

PART 10: Market trends

PART 11: Vendor landscape

PART 12: Key vendor analysis

PART 13: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/gj3knt/global

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