Global agchem market growth forecast
The global crop protection market is projected to reach $58,433.5 million in 2016. The US market research company, MarketsandMarkets (Dallas, Texas), forecasts a compound annual growth rate (CAGR) of 5.3% on the $42,470.4 million market in 2010. Volume sales are projected to rise at a CAGR of 3.2% from 2.4 million tonnes to 2.9 million tonnes. Increasing modernisation of agriculture in India and China is expected to drive growth in the Asia/Pacific region, which is projected to exceed the size of the European and North American markets in the next five years.