China Agrochemicals Market - Segmented by Type and Application - Growth, Trends and Forecasts (2018 - 2023)
China is one of the world’s largest pesticide producers and users, its pesticide industry has a real dependency on exports. In the domestic market, Chinese agrochemical companies tend to replicate existing foreign products after patent expiry; this has led to a shortage of high quality R&D products as most Chinese agrochemical companies have a low R&D capability in relation to their international counterparts.
China Agrochemicals Market Dynamics
China is the world's most populous country, thus ensuring food supply is the most important challenge for the agriculture industry. With the highest rate of population growth, increasing the need for food production and economic growth, the market for agrochemicals gets pushed ahead. Land scarcity due to urbanization, soil degradation, water scarcity etc. makes it all the more essential for the farmers to use agrochemicals to sustain. Low awareness among farming community and their low acceptance level to the modern day farming practices provide major drawbacks for the growth of the industry.
China is the Largest Consumer of Chemical Fertilizer and Pesticide in the World
China is currently the largest consumer of chemical fertilizer and pesticide in the world. Recently, the average amount of nitrogen fertilizer applied on food crops in China was estimated at 190 kg/ha. However China is seeking to reduce the use of chemical fertilizer and pesticide because it has contaminated large bands of its arable land and threatened its ability to keep up with the domestic food demand.
China’s R&D Investment in the Agrochemical Market
The R&D development is a crucial factor for China to meet the strict quality and safety requirements for food. It also supports a better reputation of Chinese manufacturers to ensure the acceptance in export markets. Both, the Chinese government as well as the domestic manufacturers are fully aware of the importance of innovative pesticide development and have increased their investment in the R&D segment significantly.
To understand the growth trends and forecast for 2018 – 2023 in the china agrochemicals market. The information is crucial to understand the market’s functionalities and the changes which are possible to follow.
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Major developments in the market are identified in the study, which helps the clients to understand the nature and scope of this market from a macro perspective.
The information regarding market overview, especially in terms of maturity provided in the study, is essential toward developing apt growth strategies suitable for the region considered in the study.
Identify the latest developments, market shares and strategies employed by the major market players.
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