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Soaring Demand Set to Propel Crop Protection Chemicals Market to $102.16 Billion by 2029
Crop Protection Chemicals Market
What Is the Expected CAGR for the Crop Protection Chemicals Market Through 2025?
In recent times, the size of the crop protection chemicals market has significantly expanded. It is anticipated to rise from $70.47 billion in 2024 to about $75.3 billion in 2025, boasting a compound annual growth rate (CAGR) of 6.9%. Factors that fueled the growth during the historical period include the rising demand for pest and disease management in agriculture, enhancements in crop yield, innovations in pesticides and herbicides, advancements in farming practices, and population expansion.
What's the Projected Size of the Global Crop Protection Chemicals Market by 2029?
The market size for crop protection chemicals is anticipated to experience robust expansion in the coming years, escalating to $102.16 billion in 2029 with a compound annual growth rate (CAGR) of 7.9%. The projected growth during this period can be credited to an upsurge in global food demand, precision agriculture, the rise of new crop diseases, growth in trade and export demand, as well as advancements in biotechnology and genetic modifications. The forecast period is expected to be shaped by factors such as the innovation of organic farming methods, the use of data analytics and artificial intelligence in farming, implementation of integrated pest management, sustainability initiatives, and the adoption of Industry 4.0 technologies.
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Top Growth Drivers in the Crop Protection Chemicals Industry: What's Accelerating the Market?
The escalating necessity for food due to growing global population is a substantial contributor to the expansion of the crop protection chemicals market. Nutritious substances consumed by humans to promote growth and sustain life are defined as food. The surge in the world's population directly translates into the need for crops that yield more and require protection. Consequently, the utilization of crop protection chemicals in agricultural fields is also on the rise. For example, the Food and Agriculture Organization (FAO) reported in May 2022 that around 258 million individuals in 58 nations faced severe food insecurity at crisis levels or worse (IPC/CH Phase 3-5). Factors like economic shocks, including the ongoing conflict in Ukraine and increased inflation, are fueling this unsettling trend. As conflicts, climate change, and global economic problems persist, this situation is projected to extend into 2023 and beyond.
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What Trends Will Shape the Crop Protection Chemicals Market Through 2029 and Beyond?
Technology advancement is the highlighted trend in the crop protection chemicals market. Many firms involved in this industry are driven by creating new innovations to foster their growth and answer the consumer needs. An example would be the actions of Syngenta Crop Protection in June 2024. This Switzerland-based agricultural science and technology firm introduced two technologies, PLINAZOLIN and TYMIRIUM. The former, an ingenious insecticide, operates through contact and intake, while the latter focuses on harmful nematodes and soil-related diseases, yet maintains the beneficial species. Both offer critical solutions for turf and ornamental crop protection.
What Are the Main Segments in the Crop Protection Chemicals Market?
The crop protection chemicals market covered in this report is segmented -
1) By Type: Fungicide, Insecticide, Nematicide, Herbicide
2) By Origin: Synthetic, Bio-Based
3) By Mode Of Applications: Foliar Spray, Soil Treatments, Seeds Treatments, Other Mode Of Applications
4) By Applications: Grains And Cereals, Pulses And Oilseeds, Fruits And Vegetables, Commercials Crop
Subsegments:
1) By Fungicide: Systemic Fungicides, Contact Fungicides, Biofungicides
2) By Insecticide: Pyrethroids, Neonicotinoids, Organophosphates, Insect Growth Regulators (IGRs), Biological Insecticides
3) By Nematicide: Chemical Nematicides, Biological Nematicides, Fumigant Nematicides
4) By Herbicide: Selective Herbicides, Non-Selective Herbicides, Pre-emergent Herbicides, Post-emergent Herbicides, Glyphosate-based Herbicides, Biological Herbicides
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Which Top Companies are Driving Growth in the Crop Protection Chemicals Market?
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.
Which Regions Will Dominate the Crop Protection Chemicals Market Through 2029?
North America was the largest region in the crop protection chemicals market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the crop protection chemicals market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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