The Saudi Arabia agrochemicals and pesticides market was estimated at US$165.715 million in 2020.
— Knowledge Sourcing Intelligence
NOIDA, UTTAR PRADESH, INDIA, August 2, 2023/EINPresswire.com/ — According to a new report published by Knowledge Sourcing Intelligence, forecasted between 2020 and 2027, Saudi Arabia Agrochemicals and Pesticides Market was valued at US$165.715 million in 2020 and is anticipated to propel significantly over the coming years.
The Saudi Arabia agrochemicals and pesticides market growth is primarily driven by growing pest management, heightened concerns for food security, and targeted government initiatives. The prevalence of pest attacks threatens crop health and yield, escalating the need for effective agrochemicals and pesticides.
Agrochemicals are chemical formulations applied in agriculture to manage pests, combat pathogens, and enrich the soil with nutrients. Pesticides, a category within agrochemicals, consist of various chemical compounds designed to eliminate a broad array of pests, including insects, rodents, fungi, and undesirable plants. With a wide array of over 1000 different types utilized worldwide, the majority of pesticides function as crop protection chemicals
Although several factors are propelling the Saudi Arabian agrochemicals and pesticides market growth, certain constraints could potentially hinder its growth. One significant barrier is that their usage can lead to detrimental environmental impacts, such as water pollution, soil degradation, and harm to non-target species. The increasing awareness about these harmful consequences is triggering a shift towards more eco-friendly alternatives, which might subsequently reduce the demand for traditional agrochemicals and pesticides.
The Saudi Arabia agrochemicals and pesticides market is witnessing multiple collaborations and partnerships. For instance, in January 2023, Saudi Arabia inked a $1 billion agreement with UPL Limited to manufacture specialized agrochemicals, marking a significant move in the agricultural sector.
Also, government efforts to improve crop production are acting as additional driving factors. For instance, in June 2023, the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) joined forces with the Food and Agriculture Organization of the United Nations to boost sesame and millets production in Suadi Arabia.
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The Saudi Arabia agrochemicals and pesticides market is categorized into two main types which includes fertilizers and pesticides. The pesticide segment is further segmented into four subcategories, namely fungicide, herbicide, insecticide, and others. This segmentation allows for a comprehensive understanding of the market’s dynamics, enabling targeted strategies and solutions to address specific agricultural challenges and optimize crop protection and productivity.
The Saudi Arabia agrochemicals and pesticides market based on crop type is categorized into four segments namely cereals, vegetables, fruits, and forage crops. Each segment represents a different application of these chemicals, highlighting the diverse uses within the country’s agricultural landscape.
The Saudi Arabia agrochemicals and pesticides market based on provinces is divided into Al-Jouf, Jazan, Makkah, Eastern Region, Riyadh, and Ha-i. This segmentation underscores the regional variations in market dynamics across different parts of the country.
As part of the competitive intelligence section of the study, the major players operating in Saudi Arabia agrochemicals and pesticides have been covered and analyzed. These include BASF SE, Bayer AG, Saudi Delta Company Inc, Astra, The Arab Pesticides and Veterinary Drugs Mfg. Co (Mobedco), Saudi United Fertilizer Co, Alahmari Group, and Montajat Veterinary Pharmaceuticals Co., Ltd. among other significant market players in the region.
The Saudi Arabia agrochemicals and pesticides market report segments the market as follows:
• By Type
• By Crop Type
o Forage Crops
• By Province
o Eastern Region
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