Australia Agrochemicals Market Outlook
The Australia Agrochemicals Market size was valued at USD 2.90 Billion in 2022 and is likely to reach USD 3.92 Billion by 2031 expanding at a CAGR of 3.4% during 2023 – 2031. The growth of the market is attributed to increasing demand for agrochemicals in the Australia.
The term agrochemicals are used as a generic term for the chemical products or pesticides used in agriculture. The agrochemicals include fungicides, herbicides, and also synthetic fertilizers, soil conditioning agents. They improve crop growth by killing damaging insects. The agrochemicals are used in all types of farming sector such as dairy farming, poultry, horticulture, and commercial planting.
The COVID-19 pandemic affected the demand and supply of the Australia agrochemicals market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. But Australia’s food production and supply chain was essential service announced by federal minister of agriculture and by Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Australia Agrochemicals Market Trends, Drivers, Restraints, and Opportunities
- Technological innovations in the agrochemical sector are expected to drive the Australia agrochemical market during the forecast period.
- Increasing population and increasing crop yields are projected to fuel the Australia agrochemical market during the forecast period.
- Factor such as changing crop mix trend, robust growth, and environmental regulations to monitor the appropriate rate of application is estimated to boost the Australia agrochemicals market.
- Stringent rules about the chemical fertilizer are hampering the market growth during the forecast period.
- Side effects of some agrochemical products are hindering the market growth during the forecast period.
- Growing awareness of environmental health has made bio-based agrochemicals popular among the Australian farmers which is fueling the Australia agrochemicals market during the forecast period.
Scope of Australia Agrochemicals Market Report
The report on the Australia agrochemicals market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Agrochemicals Market - Australia Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Fertilizers, Pesticides, Adjuvants, and Plant Growth Regulators), and Applications (Grains & Cereals, Pulses & Oilseeds, Fruits & Vegetables, Commercial Crops, and Others)
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Regional Scope
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Australia
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Bayer CropScience; BASF SE; Corteva Agricsience; Nufarm Ltd; Syngenta AG
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Australia Agrochemicals Market Segment Insights
The pesticide segment is expected to grow at a rapid pace
Based on product types, the Australia agrochemicals market is divided into fertilizers, pesticides, adjuvants, and plant growth regulators. The pesticides segment is expected to grow at a rapid pace during the forecast period due to increasing demand for biochemical pesticides among the farmers. Biopesticides has a minimum risk than the use of chemical pesticides and also biopesticides required less data to register in the Environment Protection Agency (EPA).
The farmers are turning towards the organic farming. In the Australia the organic farming increases from 571.58 thousand hector in 2016 to 669.92 thousand hector in 2019. The country also provides well research & development and production unit setup. This is expected to drive the market during forecast period. However, the fertilizers segment is anticipated to hold a key market share during the forecast period due to wide use of nitrogenous fertilizer as urea in the country.
The grains & cereals segment are projected to expand at a considerable CAGR
On the basis of applications, the market is segmented into grains & cereals, pulses & oilseeds, fruits & vegetables, commercial crops, and others. The grains & cereals segment is projected to expand at a considerable CAGR during the forecast period. The common insect’s species such as armyworm, mites, cutworm, aphids, and heliciverpa that cause yield loss for the crop. Systiva is a fungicide product used for cereals and it very effective in disease control in southern Australia. Therefore, reduce infection of disease and pest, the farmer turns toward the use of agrochemicals in the farm.
Segments
The Australia agrochemicals market has been segmented on the basis of
Product types
- Fertilizers
- Pesticides
- Adjuvants
- Plant Growth Regulators
Applications
- Grains & Cereals
- Pulses & Oilseeds
- Fruits & Vegetables
- Commercial Crops
- Others
Key Players
Competitive Landscape
Key players competing in the Australia agrochemicals market include Bayer CropScience; BASF SE; Corteva Agriscience; Nufarm Ltd; Syngenta AG.
These key players are constantly implementing several marketing strategies such as merger & acquisitions, capital investments, partnerships, and new product development to sustain industry position in the market. In 2020, The Nufarm Ltd has launched Teppan insecticide for the commercial sales. In 2019, the Corteva Agriscience has launched new product Entrust Organic Insecticide.
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