Global Crop Protection (Agrochemicals) Market Report Presents an Overall Analysis, Development Trends, Driving Forces, Opportunities and Future Potential: Bayer Crop Science, Syngenta, BASF, Monsanto, Dow Agro Sciences, DuPont, Nufarm

Overview:

Agrochemicals crop protection products or pesticides are used to control insects, weeds, fungi, diseases, and other undesirable pests that deteriorate the quality of crops. These pesticides are of different types such as insecticides, herbicides, fungicides, and plant growth regulators. They are of different origins including, synthetic pesticide and biopesticides. The global crop protection (agrochemicals) market is expected to reach US$ 70.62 billion by the year 2021 due to the increasing population.

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Drivers:

Increasing population, food security, a decline of arable land, and the requirement of improved agricultural productivity are the factors driving the growth of the global crop protection (agrochemicals) market. For instance, according to the World Population Prospects of the United Nations, the population of China was 1.4 billion by the end of 2019. Moreover, changing crop mix trends and environmental regulations are also contributing to the market growth.

Restraints:

Increased R&D costs and a ban on pesticides in several countries are restraining the growth of the global crop protection (agrochemicals) market.

Regional Analysis:

The Asia Pacific dominates the global crop protection (agrochemicals) market due to increased demand in countries such as China, India, Japan, and Australia. In India, synthetic pesticides are widely used for preventing the loss of crops. Since the Indian population in 2020 is about 1.3 billion, according to the National Commission of Population, India, the high availability of crops is required which leads to a higher need for pesticides. According to the Indian Ministry of Agriculture and Farmers Welfare, there are 292 pesticides registered in India as of 2020.

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Competitive Section:

Key players of the global crop protection (agrochemicals) market are Bayer Crop Science, Syngenta, BASF, Monsanto, Dow Agro Sciences, DuPont, Nufarm, Adama, UPL, FMC, Sumitomo Chemical, Wynca Chemical, Arysta Lifescience, Zhejiang Jinfanda Biochemical, Kumiai Chemical, and Huapont.

In June 2020, Bayer Crop Science partnered with ITC to produce crop protection products.

In 2018, BASF along with Meiji Seika Pharma, a Japanese company, developed a new insecticide, Inscalis, to protect crops from critical sucking and piercing insects.

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