Market Size of Australia Agrochemicals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.80 Billion |
| Market Size (2029) | USD 9.20 Billion |
| CAGR (2024 - 2029) | 3.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Australia Agrochemicals Market Analysis
The Australia Agrochemicals Market size is estimated at USD 7.80 billion in 2024, and is expected to reach USD 9.20 billion by 2029, at a CAGR of 3.5% during the forecast period (2024-2029).
The agrochemicals market in Australia is crucial for the agricultural sector, focusing on crop protection, pest management, and boosting overall productivity. The market has grown steadily in recent years due to rising food demand and the need to maximize yields from extensive cultivated lands. The Australian Bureau of Statistics reported that the crop production area in Australia increased from 25.2 million hectares in 2021 to 25.6 million hectares in 2022. This growth in agricultural land reflects the need to meet the rising food demand, leading to higher demand for efficient pest control and fertilization methods.
Government support significantly contributes to market growth. The Australian Government has allocated USD 25.7 million over eleven years (2014-2025) to help farmers access safe and effective agricultural and veterinary (agvet) chemicals, aiding food production for Australia and the world. Additionally, the fertilizer market is becoming a key factor in enhancing agricultural productivity in the country. However, overuse and reliance on agrochemicals have led to resistance in weeds and insects, necessitating the use of more potent agrochemicals. This situation has increased the adoption of biological agrochemicals in the country. Therefore, the growing demand, coupled with government support and the rising importance of bio-based agrochemicals, is driving market growth during the forecast period.
Australia Agrochemicals Industry Segmentation
Agrochemicals are engineered chemical or biological formulations that improve crop quality and yield while preventing crop deterioration from insects, pest infestation, and disease. The Australian agrochemicals market is segmented by Product Type (Fertilizers, Pesticides, Adjuvants, and Plant Growth Regulators) and Application (Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, Commercial crops, and Other Applications). The report offers market estimation and forecasts in value (USD) for the above-mentioned segments.
| Product Type | |
| Fertilizers | |
| Pesticides | |
| Adjuvants | |
| Plant Growth Regulators |
| Application | |
| Grains and Cereals | |
| Pulses and Oilseeds | |
| Fruits and Vegetables | |
| Commercial Crops | |
| Other Applications |
Australia Agrochemicals Market Size Summary
The Australian agrochemicals market is poised for growth, driven by the increasing demand for agricultural fertilizers and crop protection products. As farmers seek to enhance crop yields, the application of agrochemicals has become essential, providing necessary nutrients and supporting harvest development. The fertilizer sector, in particular, plays a crucial role in boosting agricultural productivity. However, the overuse of pesticides has led to resistance issues, prompting the need for more potent solutions. Technological advancements, pest pressures, and the rising adoption of bio-based crop solutions are expected to further propel market growth. Australian farmers are increasingly embracing new farming practices and biopesticides, driven by a growing awareness of environmental health, which is anticipated to sustain the demand for agrochemicals.
The market is also experiencing a surge in the use of adjuvants, such as oil-based adjuvants, surfactants, and wetting agents, to enhance the effectiveness of herbicides. Despite these growth drivers, concerns regarding the impact of chemical pesticide usage, the rise of GM crops, and the expansion of organic farming may pose challenges to market expansion. The Australian government is actively investing in research and development to improve crop production efficiency and pest management, addressing issues like the fall armyworm. Major agrochemical companies, including Nutrien Ltd, Incitec Pivot Fertilisers, Nufarm Ltd, Yara International, and Bayer Crop Science AG, are focusing on innovation and strategic partnerships to strengthen their market presence. These efforts, coupled with the ongoing need for crop protection and disease management, are expected to sustain the market's growth trajectory.
Australia Agrochemicals Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Adoption of Biopesticides
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1.2.2 Rising Area Under Agriculture
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1.2.3 Growing Supportive Initiatives
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1.3 Market Restraints
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1.3.1 Regulatory Restrictions on Chemical Product Usage
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1.3.2 High Cost of the Inputs
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Fertilizers
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2.1.2 Pesticides
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2.1.3 Adjuvants
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2.1.4 Plant Growth Regulators
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2.2 Application
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2.2.1 Grains and Cereals
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2.2.2 Pulses and Oilseeds
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2.2.3 Fruits and Vegetables
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2.2.4 Commercial Crops
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2.2.5 Other Applications
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Australia Agrochemicals Market Size FAQs
How big is the Australia Agrochemicals Market?
The Australia Agrochemicals Market size is expected to reach USD 7.80 billion in 2024 and grow at a CAGR of 3.5% to reach USD 9.20 billion by 2029.
What is the current Australia Agrochemicals Market size?
In 2024, the Australia Agrochemicals Market size is expected to reach USD 7.80 billion.
