The global agricultural chemicals industry, also known as agrochemicals industry, plays a vital role in maintaining a stable output of the agricultural products around the world, while the top 10 largest pesticide companies are some of the most important contributors protecting the global crop production and food supply from pest threat. As the recent estimate by UN’s Food and Agriculture Organization (FAO), the world population will reach nearly 10 billion by 2050, meaning that the world demand for food and agricultural products will have a significant increase. This will further emphasise the importance of the pesticide and other agrochemical solutions in support of the agricultural production, the revenues of many world’s largest agrochemicals companies are also expected to grow with a strong pace over the near future.
This industry fact sheet is to assist industry professionals, investors, and people in general that are interested in gaining insights into the global agricultural chemicals industry including:
- How much is the global agrochemicals industry worth?
- Who are the largest agrochemicals companies in the world?
- What are the factors driving the global agrochemicals market growth?
- Who are the top 10 largest pesticide companies in the world?
- What are the future trends of the global agrochemicals industry?
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Global Agrochemicals Industry Analysis 2020
Agricultural chemicals, or agrochemicals, mainly include pesticides and fertilizers. These chemical agents that are nowadays widely used in the agricultural industry to protect crops from disease and pests. Many agrochemicals are also used to improve the yields of agricultural plants. Despite the massive use of pesticides and fertilizers is heavily criticized around the world due to increasing health concerns, the functions fulfilled by these agrochemicals are important in the agricultural production. According to the recent market data from Statista, the global agrochemicals market was worth US$243.1 billion in 2019, it is expected to increase to nearly US$300 billion by 2024, representing a steady CAGR of over 3.4% during the forecast period.
With the help of the agrochemicals products such as pesticides and fertilizers to increase yields, farmers will be able to grow more crops on less land, which makes the crops production cost less and the final products cheaper for consumer to purchase. As the world population continues to increase, causing the demand of food and other agricultural products to rise, the use of the pesticides and fertilizers is expected to grow. Other driving factors, such as the supportive policy provided by the government and the consistent investments in the development of new agrochemicals that are more effective and eco-friendlier will further boost the growth of the global agrochemicals market in the near future.
Geographically, Asia-Pacific is the largest agrochemicals market in terms of production and consumption, generating almost 51% of the global market’s growth every year. The adoption of modern-day practices and integrated farming processes, the growing demand for food grains and the ever-rising population, and the growing economy and currency stabilizing strategies will significantly drive the growth of the agrochemicals market in this region. India and China are the key markets for agrochemicals this region. Market growth in this region will be faster than the growth of in other regions over the next five years.
Top 10 Largest Pesticide Companies in the World 2020
| Rank | Company | Headquarters | 2019 Revenue ($ billion) |
| 1 | Syngenta (ChemChina) | Switzerland | 10.4 |
| 2 | Bayer Crop Science | Germany | 8.16 |
| 3 | BASF | Germany | 6.76 |
| 4 | Dow AgroScinces | United States | 4.66 |
| 5 | FMC | United States | 4.28 |
| 6 | ADAMA | Israel | 3.88 |
| 7 | Nufarm | Australia | 3.76 |
| 8 | Sumitomo Chemical | Japan | 3.14 |
| 9 | UPL | India | 3.14 |
| 10 | Huapont Life Sciences | China | 1.41 |
Syngenta (ChemChina)
Syngenta is a world’s top agrochemicals and biotechnology company headquartered in Basel, Switzerland. It was established in 2000 from the merger of Novartis Agribusiness and Zeneca Agrochemicals. Since then, Syngenta has been well known as the world’s largest pesticides company and a leading agrochemicals producer. In 2017, the Chinese state-owned chemical enterprise ChemChina acquired Syngenta in a $43 billion deal. The deal transformed the Syngenta and ChemCina into a global leader in the agrochemicals industry. Today, Syngenta has over 28,000 employees working in 90 countries around the world to transform how crops are grown and protected.
Bayer CropScience
Bayer CropScience is the agrochemical and crop protection division owned by the German multinational pharmaceutical and life science group Bayer AG. Bayer CropScience is specialized in pesticides, nonagricultural pest control, seeds and plant biotechnology businesses. It is also involved in food genetic engineering industry. In 2019, Bayer CropScience’s revenue reached $8.16 billion, making it one of the top 10 largest pesticide companies in the world. Its agrochemical and pesticide products portfolio include fungicides, herbicides, insecticides, seed treatments, and adjuvants.
BASF
BASF is one of the world’s leading agrochemicals producers and largest pesticide companies in the world headquartered in Ludwigshafen, Germany. BASF has current business segments in chemicals, plastics, performance products, functional solutions, agriculture, biotechnology, and oil and gas. BASF has around 95,000 employees across five continents, but North America remained as BASF’s largest revenue region, contributes 35% of its total revenues.
Dow AgroScinces
Dow AgroScinces is a subsidiary of the Corteva Agriscience, formally known as Dow Chemical Company. It is specialized in agricultural chemicals such as pesticides, seeds and biotechnology solutions. The company is headquartered in Indianapolis, Indiana, in the United States. Dow AgroSciences sell its seeds, agrochemicals and pesticide products through several world’s famous brands, including Sentricon, Vikane, Mycogen, SmartStax, Enlist, PhytoGen, Alforex Seeds, Profume, Dairyland Seed, and Brodbeck Seed.
FMC
FMC Corporation is another one of the world’s largest pesticide companies and agrochemical producers, offering some of the most effective herbicides, insecticides and fungicides in the market. Its business portfolio includes proprietary agrochemical products used in crop protection, plant health, and professional pest and turf maintenance solutions. The company employs about 6,500 people throughout the world within FMC Agricultural Solutions.
ADAMA
Founded in 1945, ADAMA is an Israeli pesticide company that manufacturers and retails herbicides, insecticides and fungicides. It is one of the global leaders in crop protection industry with innovative solutions that simplify and enable growth in farming. In 2017, Adama Agricultural Solutions Ltd. was acquired by Hubei Sanonda Co. Ltd., a Chinese agrochemical producer and partially owned subsidiary of ChemChina. The company now has operation and manufacturing facilities in various locations worldwide, with two biggest plants in Israel and China.
Nufarm
Nufarm is an Australian agrochemical company headquartered in Melbourne, Australia. The company manufactures, sells, and markets a full range of crop protection products such as herbicides, insecticides, adjuvants, fungicides, and other specialty products to growers and farmers. With over 3,400 employees, Nufarm offers over 2,100 products in more than 100 countries around the world.
Sumitomo Chemical
Sumitomo Chemical Co., Ltd. is a leading Japanese chemical company founded in 1913. Its Health & Crop Sciences sector is engaged in the manufacture and sale of crop protection chemicals, fertilizers, feed additives, household insecticides, products for control of infectious diseases, and active pharmaceutical ingredients and intermediates. Apart from being one of the world’s top 10 pesticide companies, Sumitomo also operates in other business sectors including petrochemicals, energy, IT related chemicals, and pharmaceuticals.
UPL
UPL is an Indian multinational chemical company that manufactures and sells agrochemicals, industrial chemicals, chemical intermediates, specialty chemicals, and pesticide products. In 2019, UPL completed the acquisition of New York-based agrochemical company Arysta LifeScience. After the deal, UPL increased its market share in Africa, Russia and Eastern Europe markets, further strengthened its position as one of the top 10 largest pesticide companies in the world.
Huapont Life Sciences
Huapont Life Sciences Co Ltd is a leading Chinese pesticide company principally engaged in the research and development, manufacture, and sales of pesticide chemical products, including herbicides, bactericides, insecticides, and others. The company also involves in other business sectors including: the pharmaceutical segment, which manufactures and sells skin pharmaceuticals and antituberculous pharmaceuticals; and the Bulk Drug segment, which is engaged in the research and development and manufacture of bulk drugs and medical intermediates.
Future Trends of the Global Agrochemicals Industry
One the latest agrochemicals market trends has been witnessed is that the growing demand for effective and eco-friendly pesticides and herbicides has prompted many world’s largest pesticide companies to develop new formulations. These leading agrochemicals are investing heavily in the development of new categories of pesticides herbicides that are more effective and environment friendly. Most of these pesticides and herbicides are formulated to decompose within a short span after application. The shift of consumers’ preferences toward non-harmful and eco-friendly agrochemicals is expected to fuel the development of pesticides and herbicides in the agricultural applications over the next few years.
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