Saudi Arabia Agrochemical Pesticides Market Share

Saudi Arabia Agrochemical and Pesticides Market Overview

Saudi Arabia Agrochemical and Pesticides Market Size was valued at USD 0.1 Billion in 2022. The agrochemical and pesticides industry is projected to grow from USD 0.19 Billion in 2023 to USD 0.317 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.20% during the forecast period (2023 - 2032). The market for agrochemicals and pesticides in Saudi Arabia is expanding quickly as a result of several market drivers, such as rising food and population demands, government programs to support agricultural development, the use of contemporary farming methods, raising awareness of the value of crop protection, and investments in R&D for novel pesticide solutions.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Agrochemical and Pesticides Market Trends

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  Rising pest attack to boost the market growth

  
  

Growing pest attacks and the need for food security are, in fact, some of the major factors propelling the market's expansion. Drought and a surge in agricultural diseases are Saudi Arabia's farmers' top concerns behind insect infestation. The past several years have seen an increase in pest attacks on major crops like wheat, rice, maize, and legumes. Fall armyworms were first discovered in maize plants, according to a statement released by the Saudi Arabia Ministry of Environment, Water, and Agriculture in October 2019. The Fall Armyworm, a pest that can seriously affect economically significant crops, can infect more than 100 different types of plants. In addition to spraying pesticides on nearby crops, the Ministry implemented phytosanitary measures, such as eliminating infected maize crops and setting traps around infected areas. Because of this, it is anticipated that the nation will use more pesticides in the future years due to an increase in bug infestations.

The country's expanding agricultural industry is driving a major growth in the Saudi Arabia market for agrochemicals and pesticides. To increase domestic agricultural production, the Saudi government has launched several comprehensive measures to reduce reliance on imports and ensure food security. This entails investing in cutting-edge irrigation systems, contemporary farming methods, and crop protection research and development. Furthermore, a robust market has resulted from farmers' increased use of agrochemicals and pesticides to raise crop yields, guard against pests and illnesses, and guarantee higher-quality produce. Moreover, Saudi Arabia is becoming a hub for producers and suppliers of agrochemicals due to farmers' growing understanding of the advantages of these products. Thus, driving the agrochemical and pesticides market revenue.

Agrochemical and Pesticides Market Segment Insights

Agrochemical and Pesticides Type Insights

The Saudi Arabia Agrochemical and Pesticides market segmentation, based on type includes Fertilizers, Pesticides (Fungicides, Herbicides, Insecticides, Others). The fertilizers segment dominated the market mostly. Fertilizers are a critical component in increasing agricultural output by providing vital nutrients to the plants. The need for fertilizers to increase soil fertility and promote crop growth is great in Saudi Arabia because the country's arid environment poses obstacles to agricultural methods. The bulk of the agrochemical and pesticide industry comprises fertilizers because they are widely employed in horticulture and other agricultural pursuits like crop production.

Agrochemical and Pesticides Crop Type Insights

The Saudi Arabia Agrochemical and Pesticides market segmentation, based on crop type, includes Cereals, Vegetables, Fruits, Forage Crops, and Others. The cereals category generated the most income. Cereals are grown all over the world. Fertilizer is almost usually needed for cereals. Other regions' rising grain and cereal consumption fuels the need for fertilizers. The most commonly used agrochemicals and pesticides are in rice, wheat, and other crops.

Figure 1: Saudi Arabia Agrochemical and Pesticides Market, by Crop Type, 2022 & 2032 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Agrochemical and Pesticides Country Insights

The Saudi Arabia market for agrochemicals and pesticides is growing mostly due to the increasing emphasis on ecologically friendly and sustainable farming methods, which raises demand for bio-based and organic pesticides. This shift is driven by the need for more sustainable food production methods and increased public awareness of environmental issues. Additionally gaining popularity are integrated pest management programs, which effectively control pests by combining many strategies. Technological advancements and the digitalization of society have played a major role in enabling farmers to adopt precision agriculture practices and optimize their usage of pesticides. Furthermore, the market has benefited from government initiatives to boost domestic agriculture and reduce dependency on imports, encouraging investments and developments in the sector.

Agrochemical and Pesticides Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the agrochemical and pesticides market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, agrochemical and pesticides industry must offer cost-effective items.

Major players in the agrochemical and pesticides market are attempting to increase market demand by investing in research and development operations includes 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.

Key Companies in the agrochemical and pesticides market include

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  BASF SE

  
  


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  Bayer AG

  
  


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  Saudi Delta Company Inc

  
  


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  Astra

  
  


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  The Arab Pesticides and Veterinary Drugs Mfg. Co (Mobedco)

  
  


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  Saudi United Fertilizer Co

  
  


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  Alahmari Group

  
  


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  Montajat Veterinary Pharmaceuticals Co., Ltd.

  
  

Agrochemical and Pesticides Industry Developments

May 2022: Huntsman International LLC has announced the creation of a new $1.2 billion revolving credit facility (the "Credit Facility") to replace an existing senior unsecured revolving credit facility of the same amount that expires in May 2023.

February 2022: Adama introduced Timeline FX, a cutting-edge, cross-spectrum spring foliar herbicide for cereals. The product offers growers the greatest application window of any herbicide for managing grass and broadleaf weeds for cereal crops since it is designed with three active components that have complementary modes of action and an integrated adjuvant.

Agrochemical and Pesticides Market Segmentation

Agrochemical and Pesticides Type Outlook

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  Fertilizers

  
  


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  Pesticides

  
  
  
  
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    Fungicides

    
    
  
  
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    Herbicides

    
    
  
  
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    Insecticides

    
    
  
  
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    Others

    
    
  
  
  
  

Agrochemical and Pesticides Crop Type Outlook

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  Cereals

  
  


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  Vegetables

  
  


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  Fruits

  
  


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  Forage Crops

  
  


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  Others