Egypt Agrochemicals Market - By Type and Application-Market Shares, Forecasts and Trends (2017 - 2022)
Africa is one of the deprived regions in terms of agricultural growth that leads to greater scope for future growth. The agrochemicals market in Egypt is estimated to grow at a CAGR of 2.8% during 2015-2020.
Egypt Agrochemicals Market Dynamics
In most African countries, agriculture supports the survival and well-being of up to 70 percent of the population. Egypt is one of the major agriculture producing countries in the African continent; more than half of the countryâ€™s population is involved in the agriculture sector.
The availability of land for agricultural usages is very much constricted in Egypt. So the need of improving the efficiency through the usage of agrochemicals has been driving the market demand. Further, with the economic improvement in some African countries, farmers have become more aware of the necessity of agrochemicals application in the land. Integrated farming practices if adopted would further add an opportunity for the sector. The high cost of agrochemicals is not always affordable for the poor farmers of Africa. Along with that, there is a need to strengthen the government involvement in popularizing consumption of agrochemicals for better productivity of agricultural lands.
Egypt Agrochemicals Market Segmentation
Cereal crops like maize, rice and wheat account for the majority of agrochemicals usage. Other important crops consuming agrochemicals are soya bean, cotton, sugar cane, sugar beet and fruits like grapes, orange and vegetables like potato etc. Pesticides are the major agrochemical used for the plant protection purpose; however, the country is highly import dependent as 75% of the pesticides demand is fulfilled by imports.
Key Players in Egyptâ€™s Agrochemicals Market
The fragmented market of Egyptian fertilizer industry is dominated by a lot of foreign players as these players try to get hold of this highly underdeveloped market. Major companies operating here are Belaruskali, OCP, Agrium, CF Industries Holdings, Yara International, Bunge (BG), Potash Corporation of Saskatchewan,E.I. Du Pont De Nemours & Company, One Acre Fund and Sasol etc.
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