Press release
Crop Protection Chemicals Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast -2023
Crop protection chemicals are used to safeguard the crops from conditions that pose potential damage to the growth of the crops. Crop protection chemicals have become an integral part of the agricultural practices. Without them, many crops would suffer dramatic losses. The most commonly used crop protection chemicals include herbicides, fungicides, insecticides, and others. Each one has a distinct function such as herbicides kill or inhibit the growth of unwanted plants, insecticides kill arthropod pests, whereas fungicides destroy or prevent the growth of pathogenic fungi.
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Key Players:
Some of the key players profiled in the global Crop protection chemicals market are BASF SE (Germany), The Dow Chemical Company (U.S.), Monsanto Company (U.S.), FMC Corporation (U.S.), Bayer AG (Germany), Agrium Inc. (Canada), Syngenta AG (Switzerland)
Key Findings:
Bio based crop protection chemicals are expected to offer huge growth opportunity in North America and Europe.
Synthetically produced crop protection chemicals are gaining popularity globally owing to low cost and higher efficiency
Segments:
On the basis of the method of application, the crop protection chemicals market is segmented into foliar, soil treatment, seed treatment, and others. The foliar applied crop protection chemicals are dominating the market and are expected to grow substantially over the forecast period.
Based on the application of the crop protection chemicals, the market is segmented into oilseeds & pulses, cereals & grains, fruits & vegetables, and others. Among all, the fruits and vegetable segment is dominating the market. However, the segment cereals and grains are expected to witness substantial growth over the forecast period.
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Regional Analysis:
In North America, the U.S. is the major contributor to crop protection chemicals. However, stringent environmental regulations in the developed economies of North America and Europe are expected to restrain the market growth in these regions. Bio based crop protection chemicals are expected to offer huge growth opportunity in North America and Europe. For rest of the world, South America is projected to witness high growth owing to increasing demand for crops in this region.
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