Crop Protection Chemicals Market:
Growth opportunities in the Crop Protection Chemicals Market look promising over the next six years. This is mainly due to the growing adoption of integrated pest management to improve the yield and the rising requirement for food security.
Crop Protection Chemicals Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
One of the most prominent drivers supplementing the growth of the global crop protection market includes the surging requirement for food safety led by the accelerating population. In accordance with the International Food Policy Research Institute, approximately 690 million individuals were malnourished in 2019, which has increased by 10 million as compared to 2018. As per the FAO Chief Economist, nearly 3 billion people are deprived of the means and access to good nutrition. Thus, the augmenting emphasis on serving the increasing food demand is persuading the farmers to choose these solutions over the coming years. In addition, the chemicals are progressively implemented in modern agriculture as an economical solution to enhance crop yield by protecting crops from harmful pests and weeds.
The altering climatic condition has increased the incidences of plant diseases and pests. This has influenced the crop production and vulnerability of crops to different pests and diseases. Thus, this has further encouraged farmers to use these products for effective pest prevention. Furthermore, the rising acquisition of assimilated pest management to expand the crop product is further strengthening the crop protection market size. The composition of pest control and the comprehensive origination of the pest life cycle have raised the crop protection market share.
Origin Segment Drivers
Based on the origin, the liquid is projected to expand at a higher CAGR during the forecast period. This is primarily attributed to the mounting need for the liquid origin of these products in the foliar spray and seed treatment mode of application. They are highly cost-effective as compared to the solid origin and can conveniently be mixed with any crop type. Moreover, they provide a longer shelf-life and easy handling and transportation. These factors are further driving the market growth.
Regional Drivers
Based on the regional coverage, Asia-Pacific is predicted to witness a higher CAGR during the forecast period. The Ministry of Agriculture in China introduced the “Zero Growth Policy of Pesticides and Fertilizers by 2020” to decrease the application of synthetic pesticides and support the usage of bio-based and organic pesticides. Moreover, the aggravating demand for food grains, insufficient availability of arable land, accompanied by the enlarged exports, are further propelling the market growth.
Crop Protection Chemicals Market’s leading Manufacturers:
- Verdesian LifeSciences
- Nufarm Canada
- Bayer AG
- Sumitomo Chemical Co., Ltd.
- DOW Chemical Company
- ADAMA India Private Limited
- FMC Corporation
- Syngenta
- DuPont
- BASF SE
Crop Protection Chemicals Market Segmentation:
Segmentation by Type
- Herbicides
- Insecticides
- Fungicides & Bactericides
- Others
Segmentation by Origin
- Synthetic
- Biopesticides
Segmentation by Mode of Application
- Foliar
- Seed Treatment
- Soil Treatment
- Others
Segmentation by Crop Type
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
Segmentation by Form
- Liquid
- Solid
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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