Analysis of the Western European Plant Health Improvement Agents Market
Jul 09 2014
With years of experience of global agrochemical industry rep...
The Western European plant health improvement agents market generated a revenue of $??million in 2013. Revenue is expected to increase to $?? million in 2020, at a compound annual growth rate (CAGR) of ??% between 2013 and 2020.
In terms of revenue, the fertilizers segment held the highest market share at 91.8% in 2013.
In 2013, plant growth regulators (PGRs) accounted for a ??% market share, in terms of revenue, and are expected to grow the fastest, at a CAGR of ??% between 2013 and 2020. Plant growth regulators are applied only in micrograms to plants; this is the reason for a low market share.
The market is driven by decrease in total arable land area, which is expected to intensify the demand for fertilizers and other plant health improvement agents. However, increasing costs and shortage of raw materials hinder growth.
The total plant health improvement agents market is highly consolidated and the top three participants hold ??% of the market.
The key market participants include: Yara International, ICL Fertilizers, K+S, Agrium Inc., and The Mosaic Company.
About this report
The Western European agricultural market is strongly driven by the increased requirement of food for the growing population. New regulations and reforms enforced by the EU council, Parliament, and Commission on the manufacturing of fertilizers, carbon foot print, safety of the environment, and environmental benefits of crops diversification are the major challenges faced by the fertilizer manufacturers in this market. Western European agricultural market is highly import driven and is one of the largest importer of agricultural products and food.
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