TechNavio recognizes the following companies as the key players in the Global Agrochemicals Market: Bayer CropScience, Syngenta, The Mosaic Company, and Yara International.
Commenting on the report, an analyst from TechNavio’s team said: “A large number of small players are present in the Global Agrochemical industry. Though the rate of innovation and the consequent R&D spend of such companies is much lower than that of the bigger players, those with sufficient capital have developed off-patent generic chemicals that are available at low prices. Also, small companies are coordinating with universities to develop and test technologies discovered by the universities. For instance, the American Vanguard Corporation (AMVAC) has coordinated with the Washington State University to develop and test a potato sprout inhibitor chemical, SmartBlock. Small companies are also increasingly involved in co-promotions with peers. Hence, the market is witnessing the emergence of small agrochemical companies.”
According to the report, one of the major growth factors driving the market is rising food demand due to the increase in the world population. Also, since there is vast urbanization, the ratio of arable land to world population is decreasing year by year. Hence, to meet this global food demand, there is an increased use of fertilizers and pesticides to enhance yield quality and efficiency.
Further, the report states that one of the major challenges in the market is increasing pesticide resistance. Agrochemical companies are therefore increasing their R&D expenditure to try and counter this resistance. For instance, glyphosate-resistant weeds and root-nibbling soil insects are posing a challenge to vendors throughout the Global Agrochemicals market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-agrochemicals-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report -Global Agrochemicals Market 2012-2016
