Saudi Arabia Agrochemicals and Pesticide Market Size Set to Reach USD 266.4 Million by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia agrochemicals and pesticide market size at USD 174.74 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Saudi Arabia agrochemicals and pesticide market size to grow at a CAGR of 5.98% reaching a value of USD 266.4 million by 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia agrochemicals and pesticide market size at USD 174.74 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Saudi Arabia agrochemicals and pesticide market size to grow at a CAGR of 5.98% reaching a value of USD 266.4 million by 2029. Growing emphasis on environmentally friendly and sustainable farming practices, which results in a rise in demand for bio-based and organic pesticides, is the main factor propelling the expansion of the Saudi Arabian agrochemicals and pesticide market. The demand for better food production practices and a greater awareness of environmental issues are driving this change. Integrated pest management solutions, which combine a variety of tactics to efficiently control pests, are also receiving more attention. The adoption of precision agriculture practices and the optimization of pesticide use by farmers have been made possible in large part by technological breakthroughs and the digitalization of society. Government programs to support domestic agriculture and lessen reliance on imports have had a favorable impact on the market, spurring investments and innovations in the field.
Saudi Arabia Agrochemicals and Pesticide Market – Overview
Agriculture and pesticides are inextricably linked as pesticides play an important part in modern agricultural practices. Pesticides are chemicals that are used to control or eliminate pests that can harm crops, resulting in decreased yields and economic losses. They assist farmers in managing pests, such as insects, weeds, and illnesses, hence ensuring agricultural productivity. However, pesticide use raises concerns about potential negative impacts on human health, the environment, and non-target creatures. As a result, there is a growing emphasis on integrated pest management (IPM) strategies, which aim to reduce pesticide use by integrating various techniques, such as biological control, crop rotation, and cultural practices, to achieve sustainable agriculture while reducing pesticide-related risks.
Impact of COVID-19 on Saudi Arabia Agrochemicals and Pesticide Market
The COVID-19 pandemic significantly affected Saudi Arabia agrochemicals and pesticide market. The lockdown measures and disruptions in global supply chains led to challenges in the procurement and distribution of agrochemicals and pesticides. The reduced workforce and restrictions on movement affected agricultural activities, leading to a decline in demand for these products. However, with the gradual easing of restrictions, the market has shown signs of recovery as farmers seek to protect their crops and boost agricultural productivity. The pandemic has also underscored the importance of sustainable and efficient agricultural practices, driving the adoption of innovative agrochemical and pesticide solutions in Saudi Arabia.
Saudi Arabia Agrochemicals and Pesticide Market – By Type
On the basis of type, Saudi Arabia agrochemicals and pesticide market is divided into Fertilizers, Insecticides, Fungicides, Herbicides, and Pesticides segments. The fertilizers segment is the largest contributor to the Saudi Arabia agrochemicals and pesticide market. Fertilizers play a crucial role in enhancing crop productivity by providing essential nutrients to the plants. In Saudi Arabia, where agricultural practices face challenges due to arid climate conditions, the demand for fertilizers is high to improve soil fertility and support crop growth. Fertilizers are used extensively in various agricultural activities, such as crop cultivation and horticulture, making it the largest segment in the agrochemicals and pesticide market. The focus on sustainable agriculture and the need to maximize agricultural output contributes to the significant growth of the fertilizer segment in Saudi Arabia.
Competitive Landscape
Saudi Arabia agrochemicals and pesticide market is significantly competitive. Major companies in the market include BASF SE, Bayer AG, Saudi Delta Company Inc, Astra, The Arab Pesticides and Veterinary Drugs Mfg. Co (Mobedco), Saudi United Fertilizer Co, Alahmari Group, Montajat Veterinary Pharmaceuticals Co., Ltd, Syngenta PPM Saudi Arabia, Al Rowad Chemical Factory Company, Saudi United Fertilizer Co. (Al-Asmida), and Alahmari Group. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position Saudi Arabia agrochemicals and pesticide market.
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