Growing Scenario Of US Agrochemical Market Outlook: Ken Research
The US Agrochemical market increased at a restricted growth rate over the assessment period of 2013-2019 and was further propelled by modification towards new, proprietary premixes & inventions involving more than one vigorous ingredient. Throughout 2017, entire number of farms across the US was apprised at 2.04 million along with a land area of 900.0 million acres.
The effective growth in demand for crop protection chemicals owing to frequent outbreaks of pest attacks on crops, occasioned in weighty losses especially throughout monsoon. The efficiency per acre has increased steadily owing to more effective / efficient farming technologies, involving greater mechanization techniques functional to land and water management, developed methods of the land preparation, planting, crop protection, gathering, and storage. As a result of which, New food processing, manufacturing, and packaging approaches have resulted in a flourishing F&B segment thus, providing a boost to crop protection pesticides for the agricultural products such as food grains, oil seeds, vegetables and fruits, which, in turn, is propelling the agrochemicals market growth. Also, admissions of numerous foreign players have also underwritten towards the same coupled with growing utilization of Bio pesticides across the United States.
Additionally, the US agrochemical market is categorized into different segments such as product type, pesticide form, market structure, and crop type. Whereas, by the product type, the US agrochemical market is classified into Herbicides, Insecticides, Fungicides and Other Pesticides. However, the strong growth was witnessed in the insecticides product segment majorly owing to slight augment in the acreage for insecticide-heavy crops such as fruits and vegetables. Continued implementation of Integrated Pest Management (IPM) approached has limited the requirement as farmers tend to turn to insecticides as a last resort.
In addition, the rising insecticide active ingredient requirement in the US was observed towards Organophosphates, Carbamates, Pyrethroids and Neonicotinoids. Whereas on the other hand, requirement for herbicides was propelled by a growing requirement for more effective herbicide formulations as weeds become more resistant to glyphosate. Apart from that, active ingredient requirement towards Atrazine, 2, 4-D, S-Metolachlor, Acetochlor and Dicamba herbicides obtained traction across the US. Minimal revenue share was captured by fungicides during the year 2019. Active ingredient requirement towards Chlorothalonil and Mancozeb fungicides. The US is a foremost producer of both older fungicides and newer product forms.
Although, owingot the COVID-19 pandemic, US agrochemical market growth will get exaggerated on a short term basis due to loss of many prevailing crop protection products. Continued deduction in the rate of fresh product introductions, growth of off-patent producers will also source a negative impact. Apart from that, the consolidation of farms and farmland is prospective to happen after COVID-19 across the United States. The agrochemical market may observe a boost owing to projected investments in biologicals caused by the manufacturer shift to food protection and sustainable crop production thus, guaranteeing efficient supply chains. As a result, this should in turn propel interest towards the new product formulations for biopesticides and biostimulants. The trade dispute among China and USA remains the most momentous political aspect impacting the agriculture industry. As the arable land shortage grows and agricultural practices become more effective, government aim may shift from utilization of agrochemicals to other aspects which can augment the longevity of arable land without damaging the environment. Aspects such as increasing requirement for corn and soybeans will likely maintain robust total input requirements, even if utilization per acre decreases owing to increasing costs and implementation of the better practices.
Key Segments Covered:-
Other Agricultural Pesticides:-
Defoliants & Desiccants
Key Target Audience:-
Venture Capitalist Firms
Raw Material Suppliers
Research & Development Institutes
Government Bodies & Regulating Authorities
Herbicide Manufacturers and Distributors
Time Period Captured in the Report:-
Historical Period: 2013-2019P
Forecast Period: 2019P–2025F
Others (ADAMA Agricultural Solutions, DOW Chemical, Du Pont, Monsanto, Nufarm and Sumito Chemical)
For More Information on the research report, refer to below link:-
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Ankur Gupta, Head Marketing & Communications