Agrochemical sector: Key Takeaways and Outlook 2022

There has been a rise in opportunities to accelerate transformations in the food and agrochemical sector to build resilience in the face of numerous challenges, including climate change since the turn of the year. While the pandemic posed some serious hurdles for every other business sector, it has left the agrochemical industry largely unaffected in the long-term.

The agrochemical industry underwent some major advancements and product developments in 2021. The adoption of faster and cost-effective analytical methods have given a major boost to the sector even during the tough times. In spite of rising input prices, incomes have increased manifold due to higher output prices and increased output volumes. Continuing this trend, the producers are all geared to set a benchmark through transformed methodologies in terms of fertilizers, chemicals and other products.

With new technology changing the face of food production, from how it is grown, produced, packaged and sold; it is providing both opportunities and challenges as the adoption of a broader and dynamic risk management plan for neutralizing various challenges, namely the ongoing pandemic and the resultant labor shortage, evolving work environments, inflation, commodity prices and supply chain concerns. These are likely to change the landscape of the agrochemical sector in the upcoming year. Moreover, the increasing application and adoption of enantiomerically pure ingredients in the agrochemical industry is expected to soar over the forecast period. Additionally, sales in the market are believed to rise in tandem with the rise in demand for eco-friendly pesticides, which has led to an increasing adoption of chiral chemicals in herbicides, plant growth regulators and fungicides.

SK Chaudhary, Founder Director of Safex Chemical shared his views on Agrochemical outlook 2022, said, “Just as technology has transformed many areas of the economy, it will continue to have an impact in the world of agriculture and farming. Keeping in view the recent pandemic times, the agrochemical industry has been unaffected ever since the beginning. As the industry contributes heavily towards food security and provides employment to a large workforce, we have been making sure of the regulatory measures to safeguard the environment. The 2022 is expected to give a major boost to the sector with all the advancements and innovations that are on the way.” He further added, “The Agrochemical sector is now emerging as one of the champions that can become a major global supply hub. Although IT systems have helped evolve the workflow of the Agrochemical sector, we are working hard on skill enhancement and continuous training of the workforce to generate better outcomes in the next year.”

Consequently, the agrochemical industry is slated to witness a major boost in 2022 through the diversity of implementation practices in the sector towards safety and the challenges encountered in maintaining effective management of food safety processes.