Agrochemical Additives Market Segmentation:
Crop Type Segment Analysis
Cereals & Grains segment is predicted to hold the majority market share by 2035, amounting to 34%. Agrochemical additives tailored for cereals & grains aim to enhance yield, protect against pests & diseases, and optimize nutrient absorption, catering to the essential nature of these crops in global food supply.
It was observed that critical minerals are added to fertilizers to boost rice crop output and grain nutrient content, which is anticipated to propel the demand for agrochemical additives. It was observed that FAO’s new projections for world cereal production in 2023 were slightly raised to 2,840 million tonnes and now stand at 30.4 million tonnes higher than the last year with a 1.1 per cent increase of 31.4 million tonnes.
Type Segment Analysis
Fertilizers segment is expected to witness substantial growth over the forecast period. The need for food and agricultural products will likely increase due to population expansion, which will fuel the use of fertilizers in the agricultural sector. Government subsidies on some fertilizers are expected to help the fertilizers segment to remain a significant end-use in the market.
For cereals & grains, fertilizers including urea, ammonium nitrate, and anhydrous ammonia are recommended. Cereals & grains can be fertilized in three different methods. They can be sprayed on independently or combined with other fertilizers and given to seedlings. They can also be top-dressed separately. Increasing cereal & grain yields requires applying fertilizers at the right rate and in the right quantities. The production of the three main cereal crops—rice, wheat, and maize—uses around 60% of the nitrogen present in Earth's soil. All these factors cumulatively account for the segment growth in the market.
Our in-depth analysis of the global market includes the following segments:
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