Ag Chemical Output Set To Double, Projects Market Research Firm

Markets and Markets, a research firm based in Dallas, Texas, projects that the market for ag chemicals will double by 2014, according to a press release the company issued this morning.

"Increasing population and reducing availability of arable land has boosted the use of agrochemicals to improve productivity, crop protection and storage," the released stated. "The global agrochemicals market, comprising of fertilizers and pesticides, is expected to witness exponential growth as the major producers of agro-products such as the U.S., Brazil, Argentina, Australia, India and China are increasing their production and storage capacities for internal use and exports."

Because of environmental concerns, the release added, "the market players are increasingly investing in the research and development for producing new and safer fertilizers and pesticides. Our analysis suggests that the agrochemicals market is set to more than double in the next few years."

A report covering the research is available for $4,650 is you feel compelled to read more.