South Africa Agrochemicals Market Size (2024 - 2029)

South Africa Agrochemicals Market Analysis

The South Africa Agrochemicals Market size is estimated at USD 1.27 billion in 2024, and is expected to reach USD 1.53 billion by 2029, growing at a CAGR of 3.9% during the forecast period (2024-2029).

• As Africa's largest crop protection market, South Africa caters to a diverse range of farmers. These farmers operate across multiple sectors, including row crops, horticulture, citrus, nuts, and vines, spanning deciduous, subtropical, and forestry markets. Data from South Africa's Ministry of Agriculture, Land Reform, and Rural Development indicates that gross income from agricultural products hit USD 23 billion in 2022, a rise from USD 20.2 billion in 2021, translating to a 15.2% growth. This surge was largely driven by a 27.8% increase in income from field crops and a 5.8% rise in horticultural products. Such robust growth in the agricultural industry is significantly bolstering the agrochemicals market in South Africa.
• Over the past two decades, South Africa has witnessed a decline in the land area utilized for agriculture despite its expansive territory. This trend has intensified the push for enhanced production efficiency, subsequently driving up the demand for agrochemicals. With the economy on the rise, farmers are increasingly recognizing the crucial role of agrochemicals. The potential embrace of integrated farming practices stands to amplify this market. Consequently, the quest for efficiency, underscored by agrochemicals, remains a dominant force propelling market demand.
• Fertilizer prices across Africa diverge significantly from global rates, underscoring supply chain challenges intensified by the Russia-Ukraine conflict. South Africa's reliance on Russia for ammonium nitrate, a key ingredient in fertilizer production, poses challenges. The ongoing conflict is also affecting South Africa's fruit exports, notably citrus shipments to Russia. As growers seek alternative markets, this dynamic presents a constraint on the growth of the fertilizer segment.

South Africa Agrochemicals Industry Segmentation

Agrochemicals are commercially produced chemicals or organic compounds used in farming for crop protection and nutrition. The South African agrochemicals market is segmented by type (fertilizers, pesticides, adjuvants, and plant growth regulators) and application (grains and cereals, oilseeds, fruits and vegetables, and other applications (plantation, turf, and ornamentals and grass)). The report offers market sizing in terms of values in USD.