Crop Protection Chemicals Market Forecast to Reach USD 92.77 Billion by 2033

The global crop protection chemicals market, valued at USD 43.25 billion in 2023, is projected to reach USD 92.77 billion by 2033, with a Compound Annual Growth Rate (CAGR) of 4.26%. While the cereals and grains segment currently dominates the market, the growing global demand for protein and edible oils positions the Oilseeds & Pulses segment for significant growth. This presents a high-opportunity area for crop protection chemical companies to innovate and expand.

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Problems Faced by Oilseeds & Pulses Farmers
Oilseeds and pulses cultivation, especially in regions with rainfed agriculture, faces numerous challenges that impact yield and quality. These problems are often compounded by poor management practices and a lack of access to suitable technology.
• Pest and Disease Infestation: Oilseeds and pulses are highly susceptible to pests like aphids and diseases such as powdery mildew and rust, which can cause production losses of up to 50%.
• Abiotic Stresses: Many crops are grown under rainfed conditions, making them vulnerable to moisture stress during critical growth stages like flowering and pod filling. Soil issues, such as acidity or alkalinity, also inhibit nutrient uptake.
• Low-Quality Seeds and Technology: Farmers often lack access to high-yielding, stress-resistant varieties and proper seed multiplication programs. Additionally, there is a significant gap in the transfer of modern technology from research labs to farms.
• Post-Harvest Losses: Inadequate storage facilities and post-harvest technology lead to spoilage from insects, mites, and molds, particularly for damp crops.
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Proposed Solution
To fully capitalize on the potential of the Oilseeds & Pulses market, a multi-pronged approach is needed, combining modern crop protection with sustainable agricultural practices.
• Integrated Pest Management (IPM): Develop and promote a comprehensive IPM strategy that includes effective and targeted crop protection chemicals, along with biological controls and resistant crop varieties. This would help in reducing chemical load while ensuring crop health.
• Sustainable Farming Practices: Encourage crop diversification and intercropping with cereals to improve soil health and mitigate pest problems. This approach, combined with efficient water and nutrient management, can significantly reduce the impact of abiotic stresses.
• Technology Transfer and Mechanization: Invest in robust programs to transfer technology and provide farmers with access to better seeds, soil-testing facilities, and modern farming machinery. This would address the issues of low yield and unexploited genetic potential.
• Improved Post-Harvest Infrastructure: Implement better storage solutions and post-harvest technologies to minimize losses and maintain the quality of the produce.

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US Tariff Implications on Crop Protection Chemicals
Recent US trade policies, including reciprocal tariffs on imports from key trading partners, have introduced significant implications for the crop protection chemicals market. The US has imposed duties on a wide range of chemical and agrochemical products, particularly from countries like India and China, which are major suppliers of active ingredients (AIs) such as glyphosate and glufosinate.
• Increased Costs: The tariffs have directly raised the cost of procurement for US chemical producers, as many rely on imports for base chemicals and intermediates. This cost is often passed on to farmers, increasing their input expenses.
• Supply Chain Restructuring: The tariffs have prompted a restructuring of global supply chains. US importers may shift sourcing away from heavily taxed countries toward domestic production or alternative trade partners. This creates both challenges and opportunities for manufacturers and suppliers worldwide.
• Market Competitiveness: While the tariffs are intended to protect domestic industries, they also raise concerns about the competitiveness of US agricultural products. High input costs can make US crops less competitive in the global market, especially if other countries retaliate with their own tariffs on US agricultural exports.

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Sources

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