Canada Agrochemicals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Canada Agrochemicals Market is segmented by Product Type (Fertilizer, Pesticides, Adjuvants, and Plant Growth Regulators) and Application (Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, and Turfs and Ornamental Grass). The market offer market sizing in USD million in terms of value.

Market Snapshot

Canada Agrochemicals Market
Study Period: 2017-2027
Base Year: 2021
CAGR: 4.5 %

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Market Overview

The Canadian agrochemicals market is projected to register a CAGR of 4.5% during the forecast period (2022-2027).

Due to the emergence of the COVID-19 pandemic, there has been a supply chain disruption as the agricultural sector had to face labor unavailability, transportation barriers, restriction on market access, and a lack of inventories in some regions. Many fertilizer and pesticide manufacturers have faced issues due to a lack of raw material availability, which has led to the reduction of various agrochemical product manufacturing. Thus, COVID-19 has caused a negative impact on the North American agrochemicals market, including Canada.

The demand for healthy diets has increased the consumption of cereals, fruits, and vegetables in Canada. This has resulted in integration among growers, federal governments, and industries to improve the crop yield to meet Canada’s food supply requirements. While all this is done, proper care is applied to not cause any adverse effects to human safety and ecological balance. Canada is expected to grow at a faster rate in terms of value demand because of country’s exclusive focus on revamping its agriculture sector.

Scope of the Report

An agrochemical is a chemical product used in agriculture for enhancing crop health and boosting the yield. The Canadian agrochemicals market is segmented by product type (fertilizer, pesticides, adjuvants, and plant growth regulators) and application (grains and cereals, pulses and oilseeds, fruits and vegetables, and turfs and ornamental grass). The report also incorporates a detailed competitive analysis, covering the strategies adopted by the key players, along with their new innovations. The market offer market sizing in USD million in terms of value.

Type
Fertlizers
Pesticides
Adjuvants
Plant Growth Regulators
Application
Grains and Cereals
Pulses and Oilseeds
Fruits and Vegetables
Turf and Ornamental Grass

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Key Market Trends

Need for Improving Productivity by Limiting the Crop Damage

The demand for pest management products is being driven by the emergence of new pests and diseases, leading to crop loss. Customers are increasingly looking for targeted and effective solutions to improve the yield. Thus, crop protection is a key strategy adopted by farmers to limit crop damage and enhance productivity.

According to the Food and Agriculture Organization (FAO), in 2018, soybeans production was 7.41 million metric ton, which decreased to 6.35 million metric ton in 2020, mainly due to the infestation from two prominent pests, namely soybean aphids and two-spotted spider mites (TSSM). The pest incidence was mitigated through the wide application of pesticides, which helped in retrieving the crops. Market players are found to be putting constant efforts into introducing advanced agrochemicals for enhancing domestic crop production. For instance, in 2019, BASF launched a critical insecticide, Sefina, for use in Canadian soybeans and potatoes.

Canada Agrochemicals Market

Rising Adoption of Bio-based Agrochemicals

Owing to the escalating demand for food safety and quality, biopesticides are gaining popularity over their synthetic counterparts. Although the prevalence of synthetic or chemical pesticides continues, an emerging preference for biological pesticides was observed in recent years in the country primarily due to the rapidity in the adoption of sustainable agricultural practices, such as integrated pest management (IPM) techniques and organic farming.

According to the Research Institute of Organic Agriculture, in 2018, the organic land area was 1.31 million ha, which has increased from 1.19 million ha the previous year. Furthermore, growing consumer concern over the safety of food is driving the organic products, which lead to the use of biopesticides than chemicals.

Owing to the demand for bio-based products, the companies are introducing new products in the market studied. For instance, in 2017, in collaboration with Bio-ferm, Nufarm launched a bio fungicide, Botector, in Canada for the horticulture segment.

Canada Agrochemicals Market

Competitive Landscape

Given the large operational area and never-ending need of the agrochemical industry, many market players and companies have entered the industry. The major players in the market are competing to hold a consistent share of the market. Mergers and acquisitions, partnerships, expansions, and product launches are some of the major business strategies adopted by the aforementioned major players. Some of the major players include Yara International ASA, BASF, Bayer Crop Science, Makhteshim Agan Industries Ltd, Dow Agro Sciences, Syngenta, Agrium, CF Industries Holdings, Potash Corporation, etc.

Recent Developments

In May 2021, Corteva Agriscience and BASF Canada Agricultural Solutions (BASF) partnered toward a joint approach to weed control by recommending the combined use of Liberty 200 SN and Enlist herbicides on Enlist E3TM soybean acres. This partnership will increase the use of herbicides, thereby expanding the market for agrochemicals.

In August 2020, FMC and Zymergen collaborated to focus on creating breakthrough crop protection solutions. FMC and Zymergen will develop a new and faster natural products discovery process that leads to the development of novel crop protection solutions for growers around the world.

In March 2020, Nufarm launched a new Valtera Liquid formulation herbicide into the Canadian market, which was previously available in a dry formulation for several years in Canada.

Table of Contents

  1. 1. Introduction

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. Research Methodology

  3. 3. Executive Summary

  4. 4. Market Dynamics

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of Substitute Products

      4. 4.4.4 Threat of New Entrants

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. Market Segmentation

    1. 5.1 Type

      1. 5.1.1 Fertlizers

      2. 5.1.2 Pesticides

      3. 5.1.3 Adjuvants

      4. 5.1.4 Plant Growth Regulators

    2. 5.2 Application

      1. 5.2.1 Grains and Cereals

      2. 5.2.2 Pulses and Oilseeds

      3. 5.2.3 Fruits and Vegetables

      4. 5.2.4 Turf and Ornamental Grass

  6. 6. Competitive Landscape

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Syngenta

      2. 6.3.2 Bayer CropScience AG

      3. 6.3.3 FMC Corporation

      4. 6.3.4 BASF SE

      5. 6.3.5 Nufarm Ltd

      6. 6.3.6 Corteva Agriscience

      7. 6.3.7 Adama Agricultural Solutions Ltd

      8. 6.3.8 Archer-daniels-midland (ADM)​

      9. 6.3.9 UPL Limited

      10. 6.3.10 Dow Agrosciences LLC

  7. 7. Market Opportunities and Future Trends

  8. 8. An Assessment on the Impact of COVID-19

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Frequently Asked Questions

The Canada Agrochemicals Market market is studied from 2017 - 2027.

The Canada Agrochemicals Market is growing at a CAGR of 4.5% over the next 5 years.

Bayer CropScience AG, Corteva Agriscience, BASF SE, FMC Corporation, Nufarm Ltd are the major companies operating in Canada Agrochemicals Market.

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