Press release
Global Crop Protection Chemicals Market Comprehensive Study: Forecasted Market Size And Growth Rate | BASF SE, Bayer CropScience AG, Syngenta International AG, Sumitomo Chemical Company Limited
Crop Protection Chemicals Market Size
The Business Research Company offers in-depth market insights through Crop Protection Chemicals Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The crop protection chemicals market size has grown strongly in recent years. It will grow from $66.18 billion in 2023 to $70.94 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increased demand for agricultural pest and disease control, crop yield improvement, pesticide and herbicide innovations, farming practices, and increased population growth.
The crop protection chemicals market size is expected to see strong growth in the next few years. It will grow to $93.66 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increasing global food demand, precision agriculture, emerging crop diseases, increasing trade and export demand, and biotechnology and genetic modification. Major trends in the forecast period include innovative organic farming practices, data analytics and ai in agriculture, integrated pest management, sustainability practices, industry 4.0 adoption.
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Market Segmentation:
The main types of crop protection chemicals are fungicide, insecticide, nematicide, and herbicide. Fungicide is a pesticide that is used by farmers to control the fungi which damage the plants in fields. They can be of synthetic and bio-based origin and can be applied by various modes of applications such as foliar spray, soil treatments, seeds treatments, others. The main applications are grains and cereals, pulses and oilseeds, fruits and vegetables, and commercials crops.
Major Driver - Population Growth And Food Security Driving Expansion In The Crop Protection Chemicals Market
The increasing need for food owing to the rising population is significantly contributing to the growth of the crop protection chemicals market. Food is any nutritious substance that is consumed by people to maintain growth and life. As the world's population grows, so does the demand for high-yielding crops and crop protection. As a result, the demand for crop protection chemicals in the fields grows as well. For instance, according to the Food and Agriculture Organization (FAO), one in every three people, or 2.37 billion people, did not have enough food access in 2020, and over 660 million people may face famine by 2030. Therefore, the increasing need for food owing to the rising population is expected to propel the crop protection chemicals market growth going forward.
Competitive Landscape:
Major companies operating in the crop protection chemicals market include BASF SE, Bayer CropScience AG, Syngenta International AG, Sumitomo Chemical Company Limited, Nufarm Limited, China National Chemical Corporation, Corteva Inc., UPL Limited, FMC Corporation, American Vanguard Corporation, ISAGRO S.p.A., BioWorks Inc., Ishihara Sangyo Kaisha Ltd., Marrone Bio Innovations Inc., Rotam CropScience Ltd., Dow Inc., Arysta LifeScience Corporation, ADAMA Agricultural Solutions Ltd., Nippon Soda Co. Ltd., Gowan Company LLC, Albaugh LLC, Sinochem Group Co. Ltd., Jiangsu Yangnong Chemical Group Co. Ltd., Nutrichem Company Limited, Sipcam Oxon Group, Certis LLC, Cheminova A/S, Nihon Nohyaku Co. Ltd., Rallis India Limited, Sino-Agri United Biotechnology Co. Ltd.
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Top Trend - Innovative Technologies Revolutionizing The Crop Protection Chemicals Market
Technological advancements have emerged as a key trend in the crop protection chemicals market. Major companies operating in the crop protection chemicals sector are focused on developing new technological solutions to promote their growth and reach consumer demand. For instance, in November 2021, Syngenta Crop Protection, a Switzerland-based agricultural science, and technology company launched PLINAZOLIN technology with IRAC Group 30, a novel mode of action that protects crops from a wide variety of pests. It replaces previous, less effective chemicals and provides an effective solution in resistance control tactics. PLINAZOLIN technology's sunshine stability and rain resistance enable wider spray intervals and fewer applications to improve crop performance and efficiency.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Crop Protection Chemicals Market Characteristics
3. Crop Protection Chemicals Market Trends And Strategies
4. Crop Protection Chemicals Market - Macro Economic Scenario
5. Crop Protection Chemicals Market Size And Growth
…..
27. Crop Protection Chemicals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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