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Chapter 1 Agrochemical industry: a multibillion industry

  • Sanjay Kumar Joshi and Rashmi Upadhyay
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Plant Protection
This chapter is in the book Plant Protection

Abstract

The market size of agrochemicals is expected to reach $336.4 billion by the end of 2026, registering a compound annual growth rate of 4.2%. India, being the fourth largest producer of agrochemicals, is succeeded globally by the USA, Japan, and China. United Phosphorus Ltd, Bayer CropScience Ltd, Rallis India Ltd, Gharda Chemicals Ltd, Syngenta India Ltd, BASF India Ltd, and so on are some of the top players who have dominated the market. These companies control almost 80% of the market share. If one is to look at the global population trend, it is of extreme importance that in order to feed the global population, it becomes vital to increase the production of crops within the present arable land. This is where the agrochemicals can play an important role in this sector by assisting farmers in enhancing their crop quality as well as quantity. New developments such as integrated pest management, precision farming, and off-patent products are shaping the outlook of agricultural chemical industry. Not only these are threat to agrochemical industries’ long-term revenue targets, long-term disruptions like genome editing, food waste management, improvements in animal feed digestibility, decreasing biofuel demand, and the growing popularity of indoor farming also put a question mark on the brighter future of the sector. Having said that, the future of agrochemicals still looks bright and worth the risk, considering global population growth, growing imperative to protect against crop losses and increase yields, and rising consumer demand for sustainably produced foods. Will leading agrochemical companies eventually increase their exposure to long-term disruptive trends and unfamiliar markets? There are no easy answers, but with growth and opportunity on the horizon, agrochemical companies will have many strategic options to consider as a promising future for the agricultural chemistry industry unfolds.

Abstract

The market size of agrochemicals is expected to reach $336.4 billion by the end of 2026, registering a compound annual growth rate of 4.2%. India, being the fourth largest producer of agrochemicals, is succeeded globally by the USA, Japan, and China. United Phosphorus Ltd, Bayer CropScience Ltd, Rallis India Ltd, Gharda Chemicals Ltd, Syngenta India Ltd, BASF India Ltd, and so on are some of the top players who have dominated the market. These companies control almost 80% of the market share. If one is to look at the global population trend, it is of extreme importance that in order to feed the global population, it becomes vital to increase the production of crops within the present arable land. This is where the agrochemicals can play an important role in this sector by assisting farmers in enhancing their crop quality as well as quantity. New developments such as integrated pest management, precision farming, and off-patent products are shaping the outlook of agricultural chemical industry. Not only these are threat to agrochemical industries’ long-term revenue targets, long-term disruptions like genome editing, food waste management, improvements in animal feed digestibility, decreasing biofuel demand, and the growing popularity of indoor farming also put a question mark on the brighter future of the sector. Having said that, the future of agrochemicals still looks bright and worth the risk, considering global population growth, growing imperative to protect against crop losses and increase yields, and rising consumer demand for sustainably produced foods. Will leading agrochemical companies eventually increase their exposure to long-term disruptive trends and unfamiliar markets? There are no easy answers, but with growth and opportunity on the horizon, agrochemical companies will have many strategic options to consider as a promising future for the agricultural chemistry industry unfolds.

Chapters in this book

  1. Frontmatter I
  2. Contents V
  3. Chapter 1 Agrochemical industry: a multibillion industry 1
  4. Chapter 2 Plant protection through agrochemicals and its consequences 25
  5. Chapter 3 Agrochemicals and their effects on soil microbial population 45
  6. Chapter 4 Effect of abiotic stresses on plant systems and their mitigation 59
  7. Chapter 5 Plant pathogenesis and disease control 95
  8. Chapter 6 Plant defense systems: mechanism of self-protection by plants against pathogens 115
  9. Chapter 7 Role of Beneficial Microbes for Plant growth Improvement 141
  10. Chapter 8 Microbial bioproducts for plant growth and protection: trends and prospective 177
  11. Chapter 9 Nanopesticides: challenges and opportunities 201
  12. Chapter 10 Assessment of the role of rhizosphere in soil and its relationship with microorganisms and element absorption 225
  13. Chapter 11 Biosurfactant: an environmentally benign biological agent for sustainable agroecological agriculture 253
  14. Chapter 12 Bacillus lipopeptide-based antifungal agents for plant disease control 313
  15. Chapter 13 Use of alkaloids in plant protection 337
  16. Chapter 14 Biotechnological approaches for plant stress management 353
  17. Chapter 15 Role of proteins and enzymes in plant disease control 395
  18. Chapter 16 The role of PGPRs in phosphate solubilization and nitrogen fixation in order to promote plant growth parameters under salinity, drought, nutrient deficiency, and heavy metal stresses 415
  19. Chapter 17 Impact of endophytic fungi in biotic stress management 447
  20. Chapter 18 Ecosystem services and ecological role of birds in insect and pest control 463
  21. Chapter 19 Role of entomopathogenic fungi in biocontrol of insect pests 505
  22. Chapter 20 Indigenous practices for pest control and marketability of the produce for development of sustainable agriculture 549
  23. Chapter 21 Role of plant microbiome in crop protection 573
  24. List of contributing authors 601
  25. Index 611
https://doi.org/10.1515/9783110771558-001

Chapters in this book

  1. Frontmatter I
  2. Contents V
  3. Chapter 1 Agrochemical industry: a multibillion industry 1
  4. Chapter 2 Plant protection through agrochemicals and its consequences 25
  5. Chapter 3 Agrochemicals and their effects on soil microbial population 45
  6. Chapter 4 Effect of abiotic stresses on plant systems and their mitigation 59
  7. Chapter 5 Plant pathogenesis and disease control 95
  8. Chapter 6 Plant defense systems: mechanism of self-protection by plants against pathogens 115
  9. Chapter 7 Role of Beneficial Microbes for Plant growth Improvement 141
  10. Chapter 8 Microbial bioproducts for plant growth and protection: trends and prospective 177
  11. Chapter 9 Nanopesticides: challenges and opportunities 201
  12. Chapter 10 Assessment of the role of rhizosphere in soil and its relationship with microorganisms and element absorption 225
  13. Chapter 11 Biosurfactant: an environmentally benign biological agent for sustainable agroecological agriculture 253
  14. Chapter 12 Bacillus lipopeptide-based antifungal agents for plant disease control 313
  15. Chapter 13 Use of alkaloids in plant protection 337
  16. Chapter 14 Biotechnological approaches for plant stress management 353
  17. Chapter 15 Role of proteins and enzymes in plant disease control 395
  18. Chapter 16 The role of PGPRs in phosphate solubilization and nitrogen fixation in order to promote plant growth parameters under salinity, drought, nutrient deficiency, and heavy metal stresses 415
  19. Chapter 17 Impact of endophytic fungi in biotic stress management 447
  20. Chapter 18 Ecosystem services and ecological role of birds in insect and pest control 463
  21. Chapter 19 Role of entomopathogenic fungi in biocontrol of insect pests 505
  22. Chapter 20 Indigenous practices for pest control and marketability of the produce for development of sustainable agriculture 549
  23. Chapter 21 Role of plant microbiome in crop protection 573
  24. List of contributing authors 601
  25. Index 611
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