ID: MRFR/AGR/3726-HCR | January 2023 | Region: Global | 110 Pages
Global Crop Protection Chemicals Market is projected to reach USD 90 Billion by 2027, registering a CAGR of 5% during the forecast period of 2020 to 2027.
$90 Billion
5%
Asia-Pacific
2020 - 2027
Crop Protection Chemicals Market Overview
Global Crop Protection Chemicals Market is projected to reach USD 90 Billion by 2027, registering a CAGR of 5% during the forecast period of 2019 to 2027.
Crop Protection Chemicals Market Dynamics
Drivers
The International Food Policy Research Institute stated that approximately 690 million people witnessed hunger across the world during the historic forecast period that ended in 2020. This was increased by a sum of 10 million since 2018. The adverse impact of the pandemic brought no difference and instead, added on to the misery by pushing as many as 83 million-132 million into chronic hunger during the pandemic year of 2020. The report stated by the State of Food Security and Nutrition in the World which was released on July 13, stated that the latest authoritative estimates related to global hunger stand true and major steps need to be taken for the large scale production of crop protection chemicals market size during the ongoing forecast period that will be ending in 2027.
Restraints
Pesticides have a persistent nature and have toxic properties that are backed with bioaccumulation and lipophilicity that tend to have adverse impacts on the health of humans if consumed. There is a rising concern for the same due to the attached residue problems. The pesticides tend to enter the human body through vegetables and fruits and hence, result in major health impacts including neurological disorders, reproductive effects, birth defects, cancer, and others. Owing to the associated and potential health risks, there has been a continuous monitoring of fruits and vegetables during farming. Pesticides like bifenthrin, glyphosates, and imidacloprid, are some of the pesticides are found in the vegetables that reach consumers and thus, impact the demand for the crop protection chemicals market.
Technology Analysis
The naturally produced pesticides - biopesticides include the minimum use of chemicals and hence, should be produced on a large scale by the key market leaders. The growing environmental conditions and the pollution potential are backing the health hazards is pushing for a wider demand for the use of biopesticides. The rise is being witnessed in major parts across the globe. The growing popularity of biopesticides owing to their property of being non-toxic in comparison to synthetic pesticides has an array of positive attributes for the crop protection chemicals market during the forecast period that ends in 2027.
Crop Protection Chemicals Market Segment Overview
The crop protection chemicals market analysis shows that the final market valuation is based on the revenue collected by the market segments present in major global locations during the forecast period of 2020-2027. The crop protection chemicals market has been segmented based on the following:
Type
The type market segment includes herbicides, rodenticides, insecticides, fungicides, fumigants, mineral oils, and plant growth regulators.
Source
The sources for these are natural and biopesticides.
Form
The crop protection chemicals are available in both dry and liquid forms.
Mode of application
The application segment of the global crop protection chemicals market includes chemigation, foliar spray, soil and seed treatment, and others like fumigation.
Crop type
The crop type segment of the global crop protection chemicals market includes turfs and ornamentals, plantation crops, forage, cereals, pulses, grains, oilseeds, and fruits and vegetables.
Crop Protection Chemicals Market Regional Analysis
The APAC region is home to countries like India, Japan, China, and South Korea, amongst others. The APAC region is home to a wide range of agricultural systems and technologies that present various variations from one country to the other. Countries like the Indian subcontinent have about 40% that is 600 million hectares of the global crop area. Rice cultivation and the predominance of small-scale manufacturers have an important role to play in the development of the crop protection chemicals market operations across various countries that belong to the APAC region.
The APAC region is home to technological advancements and trends that are increasing the awareness related to pesticides is one of the major factors that is responsible for the massive growth of the crop protection chemicals market in this region during the forecast period that ends in 2027. Also, there is a huge demand for crops in the region which is rising the degree of cultivation in this region and is hence, forcing the agribusiness companies to expand their supplying scale and manufacturing base in the region during the ongoing forecast period of 2020-2027.
Crop Protection Chemicals Market Competitive Landscape
The crop protection chemicals market growth is dependent on the functions undertaken by the market players. The key market players are as follows:
Recent Developments
Report Overview
The global crop protection chemicals market report helps investors get their hands on meaningful insights related to the market operations and the performance of the segments across various global regions. The report covers the key market players and the competitive degree that prevails in the market. During the forecast period, the crop protection chemicals market report also considers the recent developments undertaken by the market from 2020 to 2027.
Report Attribute/Metric | Details |
---|---|
Market Size | USD 90 Billion |
CAGR | 5% (2020-2027) |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Data | 2018 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Crop Type, and Mode of Application |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | BASF SE (Germany), The Dow Chemical Company (US), Monsanto Company (US), FMC Corporation (US), Bayer AG (Germany), Agrium Inc. (Canada), Syngenta AG (Switzerland), The Mosaic Company (US) , EuroChem Group AG (Switzerland), Yara International ASA (Norway) |
Key Market Opportunities | Introduction of new and advanced farming practices and demand for natural and bio-based agrochemicals |
Key Market Drivers |
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Crop Protection Chemicals Market is expected to reach USD 90 Billion by 2027.
Crop Protection Chemicals Market is expected to exhibit a strong 5% CAGR over the forecast period from 2020 to 2027.
Leading players in the Crop Protection Chemicals Market include BASF SE (Germany), The Dow Chemical Company (US), Monsanto Company (US), FMC Corporation (US), Bayer AG (Germany), Agrium Inc. (Canada), Syngenta AG (Switzerland), The Mosaic Company (US) , EuroChem Group AG (Switzerland), Yara International ASA (Norway) among others.
Asia Pacific is expected to dominate the Global Crop Protection Chemicals Market.
The growing attention being paid to maximizing agricultural yield is the major driver for the Crop Protection Chemicals Market.