Middle East and Africa Agrochemicals Market Set to Cross USD 13.3 Billion by 2030

Published | 18 November 2024

Middle East and Africa Agrochemicals Market is flourishing because of the governments’ increasing focus on ensuring food security in meeting the high demand for food products from the rising population.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Middle East and Africa Agrochemicals Market size at USD 9.22 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Middle East and Africa Agrochemicals Market size to expand at a CAGR of 5.40% reaching a value of USD 13.32 billion by 2030. Major growth factors for Middle East and Africa Agrochemicals Market include a spurring demand for agricultural products due to population expansion and an increasing emphasis on preserving crop quality and improving crop output. Furthermore, the governments of these nations are implementing a number of initiatives to guarantee food security because of their severe climate and scarcity of arable land, which is expected to propel the Middle East and Africa Agrochemicals Market over the forecast period.

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Opportunity - Technological Advancements in Agrochemicals

Significant advancements and innovations in agrochemicals are projected to present lucrative growth opportunities to major players in Middle East and Africa Agrochemicals Market during the period in analysis. Innovations are focused on the development of new formulations and more effective chemicals, such as slow-release fertilizers and bio-based pesticides. These developments help address specific issues with agricultural activities, such as climate change, pest resistance, and environmental sustainability. In addition, rising adoption of precision farming also provides efficient application of agrochemicals through sensors, which results in reduced waste and better environmental impact.

Impact of Escalating Geopolitical Tensions on Middle East and Africa Agrochemicals Market

Intensifying geopolitical tensions could disrupt the growth of Middle East and Africa Agrochemicals Market. Geopolitical conflicts have a detrimental impact on the agricultural output of Middle Eastern and African nations and directly cause supply chain disruptions. Petrochemicals are used to make a wide range of agrochemical products, such as insecticides, herbicides, and fertilizers. However, rising geopolitical tensions in key oil-producing countries, like Iran and Libya, could cause oil prices to fluctuate, which can impact raw material supply and result in a market scarcity of agrochemicals. Moreover, many conflicts, like the one involving the Suez Canal, could interfere with shipping routes, which can impact international trade by delaying the delivery of agrochemicals and fertilizers.

Cereals and Grains Segment to Grow Fastest CAGR

With maize, barley, and wheat being the main agricultural products of North and Sub-Saharan Africa, the cereals and grains category holds the largest market share of Middle East and Africa Agrochemicals Market. In several African nations, such as South Africa, Nigeria, and Kenya, maize is a staple crop. Additionally, wheat and barley are major crops in several Middle Eastern nations, such as Turkey, Iran, and Syria, despite their difficult climate. Consequently, the need for agrochemicals is significant in cereal farming, propelling the market's expansion to ensure high quality agriculture output.

South Africa leads Middle East and Africa Agrochemicals Market

South Africa dominates Middle East and Africa Agrochemicals Market. Large-scale commercial farming, especially commodities like sugarcane, maize, wine grapes, and citrus, is primarily responsible for South Africa's high agrochemical consumption. Numerous agrochemicals, including insecticides and fertilizers, increase agricultural yields and shield crops from pests. Agrochemicals are also widely employed in South Africa's agriculture industry to guarantee that the output meets international quality requirements for export, which drives its market growth.

Competitive Landscape

Major players of Middle East and Africa Agrochemicals Market include BASF, Syngenta, Dow AgroSciences, Adama Agricultural Solutions, UPL Limited, Bayer Crop Science, FMC Corporation, Nufarm Limited, K+S AG, and Solvay.

These companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches to further enhance their market share.

Don’t miss the business opportunity in Middle East and Africa Agrochemicals Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Middle East and Africa Agrochemicals Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Middle East and Africa Agrochemicals Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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