IMARC Group has recently released a new research study titled “South Korea Agrochemicals Market Report by Fertilizer Type (Nitrogen Fertilizer, Phosphatic Fertilizer, Potassic Fertilizer, and Others), Pesticide Type (Fungicides, Herbicides, Insecticides, and Others), Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, and Others), and Region 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
South Korea Agrochemicals Market Overview
The South Korea Agrochemicals Market Size reached a size of USD 5,673.7 Million in 2024. It is projected to grow to USD 8,301.8 Million by 2033 with a CAGR of 4.3% during the forecast period from 2025 to 2033. This growth is driven by the increasing adoption of modern agricultural practices, such as precision farming and genetically modified crops, which boost the demand for agrochemicals.
STUDY ASSUMPTION YEARS
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
SOUTH KOREA AGROCHEMICALS MARKET KEY TAKEAWAYS
- Current Market Size: USD 5,673.7 Million in 2024
- CAGR: 4.3% (2025-2033)
- Forecast Period: 2025-2033
- The market is driven by the rising regional population, necessitating increased agricultural productivity.
- Urbanization is reducing arable land, pushing farmers towards more efficient agrochemical usage.
- Technological advances have led to innovative agrochemical formulations enhancing crop yield.
- Awareness of precision farming and integrated pest management is boosting agrochemical adoption.
- Supportive government policies and research collaborations are fostering environmentally friendly solutions.
Sample Request Link: [https://www.imarcgroup.com/south-korea-agrochemicals-market/requestsample]
MARKET GROWTH FACTORS
The agrochemicals market in South Korea is significantly influenced by the rising regional population. This increased population necessitates greater food production which drives higher demand for agrochemicals to improve crop productivity. Additionally, the shrinking arable land due to urbanization compels farmers to utilize agrochemicals for efficient crop cultivation. These demographic and land-use factors directly contribute to the market’s expansion.
Technological advancements in the agrochemical industry have introduced innovative formulations that improve the efficacy of fertilizers, pesticides, and herbicides. These innovations attract farmers looking for sustainable and high-yield agricultural solutions. The development of genetically modified crops and precision farming techniques further supports the efficient use of agrochemicals, increasing market demand.
Furthermore, government policies promoting modern agricultural practices and environmental sustainability have positively impacted the market growth. Collaborative efforts between research institutions and agrochemical companies focus on environmentally friendly and cost-effective solutions, aligning with sustainable agriculture goals. Awareness among farmers about integrated pest management also supports broader agrochemical adoption.
MARKET SEGMENTATION
Fertilizer Type:
- Nitrogen Fertilizer: Fertilizers providing essential nitrogen nutrients, promoting plant growth and yield.
- Phosphatic Fertilizer: Fertilizers supplying phosphorus, important for energy transfer in plants.
- Potassic Fertilizer: Fertilizers that provide potassium, aiding in various plant processes.
- Others: Other types of fertilizers used in agriculture.
Pesticide Type:
- Fungicides: Chemicals used to control fungal diseases in crops.
- Herbicides: Chemicals targeting unwanted plants that compete with crops.
- Insecticides: Chemicals that eliminate harmful insect pests affecting crops.
- Others: Other forms of pesticides.
Crop Type:
- Cereals and Grains: Crops like rice, wheat, and barley benefiting from agrochemical use.
- Oilseeds and Pulses: Includes crops like soybean and lentils that utilize agrochemicals.
- Fruits and Vegetables: Horticultural crops cultivated with the help of agrochemicals.
- Others: Other types of crops using agrochemicals.
REGIONAL INSIGHTS
The report identifies several major regional markets within South Korea: Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and others. Specific market share or CAGR by region is not provided in the source. These regions represent the primary locations of agrochemical market activity reflecting diverse agricultural zones across South Korea.
ABOUT US
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
CONTACT US
IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA,
Email: sales@imarcgroup.com,
Tel No: (D) +91 120 433 0800,
United States: +1-201971-6302
