Crop Protection Chemicals Market Research Report - Global Forecast till 2027

Crop Protection Chemicals Market: By Type (Fungicides, Insecticides, Herbicides and Others), Crop Type (Cereal & Grains, Fruits & Vegetables, Oilseed & Pulses and Others) Mode of Application (Soil Treatment, Seed Treatment, Foliar Spray and Others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Global Forecast till 2027

ID: MRFR/AGR/3726-HCR | January 2023 | Region: Global | 110 Pages         

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Crop Protection Chemicals Market

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.

Segmentation
By Type Fungicides Insecticides Herbicides Others
By Crop Type Cereal & Grains Fruits & Vegetables Oilseed & Pulses Others
By Mode of Application Soil Treatment Seed Treatment Foliar Spray Others
By Region North America Europe Asia-Pacific Rest of the World
Key Players
Companies Profiled   BASF SE (Germany)    Valent US (US)    The Dow Chemical Company (US)    Adama Agricultural Solutions Ltd. (Israel)    NufarmLimited (Australia)    Verdesian Lifesciences (US)    FMC Corporation (US)    Bioworks Inc. (US)    Bayer Cropscience AG (Germany)    Dupont (US)    Sumitomo Chemical Co. Ltd (Japan)    Syngenta AG (Switzerland)
Drivers
Market Driving Forces   To enhance crop productivity and protect the crops from pests insects weeds and fungi.    Increasing population and growing demand for food have led to high agricultural productivity
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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.


The market operations are on the way to the path of major expansion during the forecast period that ends in 2027. One of the major market facts that are backing this growth is the propelling need amongst the target audience for food security and safer alternates for consumption has positive attributes in store for the market operations. Also, a steep rise in the world population is enhancing the market demand amongst the target audience spread in various global locations across the globe. Based on all these factors and the challenges and restraints available to the market, the Crop Protection Chemicals Market experts and industry leaders have laid down their assumptions regarding the projected market growth for the ongoing forecast period of 2020-2027.

 

COVID 19 Analysis of Crop Protection Chemicals Market 

During the pandemic year of 2020, most of the industries had expected a decline in demand and hence, due to low investments, shut their businesses amid the first and second wave of the pandemic. However, the lifestyle changes of people and their growing interest in healthy living for a better and disease-free tomorrow. Since the initial cases of the pandemic were reported, its impact on the chemicals used for crop protection is ranging from low to being moderately affected. There have been a series of disruptions in the supply chain mechanism of the crop protection chemicals market and this further, has an impact on the ability of the distribution channels when it comes to the transportation of important pesticides across a series of countries and continents.

There has been a slight effect on the pandemic on production. The gradual trends that followed, have shown promising results for the market and the participating regions. For instance, during the pandemic, the production capability of countries belonging to the APAC region, and the European nations reduced by a figure of 20%. However, the increasing investment from the government is helping in the large-scale development of the research and development sector. This is enhancing the ability of the key market players to develop new products and services based on the demand and expectation of the target audience. This will further, enhance the ability of the market players to stabilize the market operations and maintain a proper supply chain mechanism during the forecast period that ends in 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:



  • BASF SE (Germany)

  • Valent US (US)

  • The Dow Chemical Company (US)

  • Adama Agricultural Solutions Ltd. (Israel)

  • NufarmLimited (Australia)

  • Verdesian Lifesciences (US)

  • FMC Corporation (US)

  • Bioworks Inc. (US)

  • Bayer Cropscience AG (Germany)

  • Dupont (US)

  • Sumitomo Chemical Co., Ltd (Japan)

  • Syngenta AG (Switzerland)


 Recent Developments



  • FMC Corporation and Chr. Hansen extended a collaborative effort on the protection of natural crops in June 2020. The companies entered into a collaboration and announced the extension of a contract for 5 years and hence, opt for developments that will help in the development and commercialization of natural solutions for the agriculture industry.

  • Sumitomo Chemical announced that it has agreed with Nufarm Limited which is a leading crop protection company in Australia. The main aim behind this acquisition is to get their hands on the shares belonging to Nufram’s four subsidiaries that are located in Chile, Brazil. Colombia, and Argentina and thus, expand its global scale of operations.

  • TECNALIA is a European center for research and technological development which entered into a collaboration with BASF in November 2020. The main aim of this collaboration is the digitization that helps in accelerating the global research and development for the production of protectives for the new crops. This has a major contribution when it comes to innovations that help in responding to the needs of the farmers that are functional worldwide.


 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 Scope:

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

  • To enhance crop productivity and protect the crops from pests, insects, weeds, and fungi.
  • Increasing population and growing demand for food have led to high agricultural productivity


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    Frequently Asked Questions (FAQ) :

    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.