Press release
Global Crop Protection Chemicals Market To Be Driven By The Increased Need For Food And Higher Crop Yields In The Forecast Period Of 2022-2027
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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Crop Protection Chemicals Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 3.9%
The increased need for food and higher crop yields are expected to drive the market. With increased urbanisation and more people living in cities than in the countryside, the amount of arable land is gradually shrinking. In the coming years, crop protection chemicals are projected to play a key role in enhancing agricultural productivity.
These compounds are predicted to increase agricultural productivity by eliminating pests that reduce yields, resulting in more product per acre and reducing the need to convert natural areas like woods and forests, native prairies, marshes, plains, and other wildlife habitats into farmlands.
Furthermore, the increased demand for liquid crop protection chemical solutions, primarily in the foliar spray and seed treatment modes of application, is driving the market for liquid crop protection chemicals. They are also less expensive than solid formulations and can be blended with any other crop enhancer or protective agent, increasing their demand.
Crop Protection Chemicals Industry Definition and Major Segments
Crop protection chemicals aid in the management and reduction of plant diseases, weeds, and other pests that harm agricultural crops. These chemicals also aid in improving and preserving crop output year after year. Crop protection chemicals are divided into three categories: herbicides, insecticides, and fungicides.
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The various sources of crop protection chemicals are:
• Natural
• Synthetic
By product type, the market is divided into:
• Herbicides
• Fungicides
• Biopesticides
• Others
On the basis of form, the market is segmented into:
• Liquid
• Solid
Based on crop type, the market is classified into:
• Cereals and Grains
• Oilseeds and Pulses
• Fruits and Vegetables
• Others
By mode of application, the market is divided into:
• Foliar Spray
• Seed Treatment
• Soil Treatment
• Others
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Crop Protection Chemicals Market Trends
Over the forecast period, demand for crop protection chemicals is expected to be driven by the adoption of modern agricultural techniques and an improved understanding of soil patterns and climate uncertainties. Increasing agricultural production due to the adoption of novel farming techniques and awareness regarding soil preservation employing mixed farming methods has enabled the growth and evolution of the crop protection chemicals market.
Also, constant product innovation aimed at catering to crops is expected to be a key factor in driving consumption across application areas, most notably in cotton farming. Another significant advantage of crop protection chemicals is in the prevention of infectious insects. Flies and other pests harm livestock by spreading disease, delivering painful bites, and causing stress.
Insecticides play an important role in managing these insects, allowing animals to convert their feed more efficiently into meat and milk, enhancing profitability. Such benefits are driving the market growth of crop protection chemicals.
Key Market Players
The major players in the market are
Bayer AG,
Syngenta Crop Protection AG,
BASF SE,
FMC Corporation,
Sumitomo Chemical Co., Ltd,
Rotam Crop Sciences Limited,
others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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