South Africa Agrochemicals Market - By Type and Application - Market Shares, Forecasts and Trends (2017 - 2022)
The South African agrochemicals market is estimated to grow at a CAGR of 4.5% during 2015-2020. South Africa accounts for nearly 35% of the share in the African agrochemicals market.
South Africa Agrochemicals Market Dynamics
South Africa is a vast country in terms land area; however, the availability of land for agricultural usages is very much constricted. So the need of improving the efficiency through the usage of agrochemicals has been driving the market demand. Further, with economic improvement, farmers have become more aware of the necessity of agrochemicals application to the land. Integrated farming practices if adopted would further add an opportunity for the sector. The high cost of agrochemicals is not always affordable to the poor farmer of Africa and is becoming a major constraint on the overall growth in demand. Along with that, there is a need to strengthen the governmentâ€™s involvement in popularizing consumption of agrochemicals for better productivity of agricultural lands. In most African countries, agriculture supports the survival and well-being of up to 70% of the population. South Africa is one of the major agriculture producing countries in the African continent.
South Africa Agrochemicals Market Segmentation
The countryâ€™s agrochemicals market is fairly segmented into pesticides, fertilizers, adjuvants and plant growth regulators. South Africaâ€™s use of agrochemicals and fertilizers for agricultural requirements far outpaced that of any other country in Africa; however, there is still scope for improvement in terms of output per hectare of land available. In crop application, agrochemicals are classified as per the usages in crops involving grains and cereals, oilseeds, fruits and vegetables and non-crops mostly involving turf and ornamental applications. Grains and cereal crops consume most of the agrochemicals like fertilizers and pesticides in the region given the need of increasing the food production level for the regional consumption.
Key Players in the South African Agrochemicals Market
The fragmented market of South African 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.