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Crop Protection Chemicals Market to Grow at 7.5% CAGR, Reaching $99.68 Billion by 2029
Crop Protection Chemicals Market
Crop Protection Chemicals Market Outlook: How is the Market Expected to Grow by 2025?
The market size for crop protection chemicals has seen significant growth in recent years. It is anticipated to rise from $70.47 billion in 2024 to $74.64 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.9%. The growth observed in the historical period can be accredited to the surge in demand for pest and disease control in agriculture, betterment of crop yield, innovations in pesticides and herbicides, advancements in farming methodologies, and an upward trend in population growth.
Crop Protection Chemicals Market Forecast: What Size Will It Reach By 2029?
In the coming years, the market for crop protection chemicals is predicted to witness substantial growth. The market is projected to reach a value of $99.68 billion by 2029, with a compound annual growth rate (CAGR) of 7.5%. Factors contributing to this growth during the forecast period include the rising global demand for food, precision farming, the emergence of new crop diseases, escalating trade and export needs, and advances in biotechnology and genetic modification. The forecast period is further characterized by significant trends such as the adoption of innovative organic farming methods, the application of data analytics and artificial intelligence in agriculture, integrated pest control, sustainability initiatives, and the implementation of the industry 4.0 paradigm.
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Which Key Market Drivers Will Shape Crop Protection Chemicals Industry Trends in 2025-2029?
The escalating demand for food due to the increasing population has been a major factor contributing to the expansion of the crop protection chemicals market. Food, a vital substance necessary for human growth and survival, increases in demand parallelly with the growth in population. This consequently leads to a necessity for high yielding crops and their protection, elevating the demand for crop protection chemicals. For example, in May 2022, as reported by the Food and Agriculture Organization (FAO), about 258 million individuals in 58 countries experienced severe food insecurity at crisis level or worse (IPC/CH Phase 3-5). Factors such as economic disruptions including the ongoing conflict in Ukraine and rising inflation rates are driving this concerning trend, which is anticipated to persist in 2023 and beyond due to ongoing conflicts, climate change, and international economic hurdles.
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What Are the High-Growth 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
Which Global Trends Are Driving Crop Protection Chemicals Market Expansion?
Technological progression is becoming a dominant trend in the crop protection chemicals industry. Major firms in this sector are increasingly pursuing the creation of innovative technological strategies to facilitate their growth and meet consumer demand. For instance, Syngenta Crop Protection, a Switzerland-based company specializing in agricultural science and technology, introduced two new technologies in June 2024 - PLINAZOLIN and TYMIRIUM. The PLINAZOLIN technology is a revolutionary insecticide that operates through contact and ingestion. Meanwhile, TYMIRIUM technology is designed to combat damaging nematodes and soil-borne diseases, still maintaining beneficial species. It provides options for the protection of both turf and decorative crops.
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Who Are the Fastest-Growing Companies in the Crop Protection Chemicals Industry?
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.
What Is the Regional Outlook for the Crop Protection Chemicals Market by 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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The crop protection equipment delivers the farmers with a cost-effective manner of advancing the yield and the quality of their crops. Crop protection is the science and practice of maintain the plant diseases, weeds and several other pests that broke down the agricultural crops and forestry. The agricultural crops comprise the field crops, fruits and vegetables. Such crops in the field are exposed to several aspects. Birds, insects, bacteria, rodents…
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The crop protection delivers the farmers with a cost-effective manner of developing the yield and the quality of their crops. They also make harvesting more straightforward and manage the constant yields from year to years. The major classes of the crop protection chemicals are insecticides, herbicides, and fungicides. Selective herbicides, for example, control the growth of weeds which would otherwise increase amongst the crop, competing with it for water, nutrients…
