Rising adoption of organic farming solutions coupled with growing focus on increasing crop yield expected to fuel market growth
Market Size – USD 63.9 Billion in 2020, Market Growth – at a CAGR of 3.3%, Market Trends – Increasing research & development activities to produce new active ingredients for agrochemicals.
The global crop protection chemicals market size is expected to reach USD 82.01 Billion by 2028 at a CAGR of 3.3%, according to the latest report by Reports and Data. Steady market revenue growth is primarily attributed to rapidly increasing global population, rising food demand, growing demand for agrochemicals for preventing crop damage and loss, and rapid adoption of technologically advanced agricultural practices such as Integrated Pest Management (IPM) and precision farming. Market growth is further bolstered by surging popularity of indoor farming and horticulture, rising applications of bio-based pesticides, increased emphasis on high agricultural output, and stringent government regulations for food safety.
Crop protection chemicals are for crop safety and protection against weeds, pests , rodents, birds, bacteria, and various plant diseases. These chemicals are extensively used by farmers to enhance agricultural productivity by inhibiting growth of weeds and infestation by pests that cause damage to crops and lower crop yield. The most widely used crop protection chemicals such as pesticides, herbicides, rodenticides, insecticides, and fungicides, disrupt the biological mechanism of pests and eradicate them. Hence, these chemicals efficiently enhance crop quality and strengthen pest-resistance ability. Various research & development activities are underway globally to formulate new active ingredients for agrochemicals, which is expected to emerge a major factor boosting growth of the global crop protection chemicals market. Increasing product innovations by agrochemical companies, rising incidence of food-borne diseases, growing adoption of GMO-certified pesticides, and increasing import and export of crop protection agents is further fueling global market growth.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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The report covers the market dynamics analysis, company profiles, production and manufacturing capacity, product specifications, product value, and key players. The report also offers an insight into the growth prospects during the forecast period. The Crop Protection Chemicals Market report also offers detailed data on the key market players to impart a deeper understanding of the competitive landscape. The report focuses on the key market elements to ensure the readers gain a competitive advantage and maximum benefit of the market data to assist them in achieving substantial growth and an advantageous position in the global market.
Key findings of the report:
Among the type segments, the herbicides segment leads in the global market in terms of revenue share. Herbicides are agrochemicals that help kill unwanted plants such as weeds and increase soil fertility and crop yield. The rapidly expanding global agricultural sector, surging use of non-selective herbicides, and increasing demand for bio-based herbicides for enhanced crop quality are major factors driving revenue growth of this segment.
Cereals & grains is the leading crop type segment, accounting for largest revenue share of around USD 25 billion in 2020. Rapidly growing demand for food, especially cereals and grains, and growing demand for advanced crop protection agents are expected to boost growth of this segment over the forecast period.
Asia Pacific accounted to major revenue share of 80% in the global market in 2020. The market in the region is expected to register the fastest revenue growth rate over the forecast period, owing to increasing agricultural activities in countries such as China and India, shifting preference from synthetic pesticides to bio-based pesticides, increasing use of GMO-certified agrochemicals, and rising R&D investments for new and more advanced crop protection solutions.
Bayer Cropscience AG, Syngenta AG, The Dow Chemical Company, Dupont, BASF SE, Sumitomo Chemical Co., Ltd., Valent US, Bioworks Inc., NufarmLimited, Verdesian LifeSciences, FMC Corporation, America Vanguard Corporation, Adama Agricultural Solutions Ltd., Arysta Lifescience Corporation, Corteva Agriscience, Wynca Chemical, Chr. Hansen, Lianyungang Liben Crop Science Co. Ltd., UPL Limited, Agrolac, Jiangsu Yangnong Chemical Group Co. Ltd., Nanjing Red Sun, Kumiai Chemicals, Lier Chemicals, and Simpcam Oxon are major players in the market.
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For the purpose of this study, the global Crop Protection Chemicals market has been segmented on the basis of disease type, application, distribution channel, and region:
By Type (Revenue, USD Billion; 2018-2028)
- Plant growth regulators
- Mineral oils
By Source (Revenue, USD Billion; 2018-2028)
By Form (Revenue, USD Billion; 2018-2028)
By Crop Type (Revenue, USD Billion; 2018-2028)
- Cereals & grains
- Fruits & vegetables
- Oilseeds & pulses
- Others (Plantation crops, turfs & ornamentals, forage, etc.)
By Mode of Application (Revenue, USD Billion; 2018-2028)
- Seed Treatment
- Foliar Spray
- Soil Treatment
By Region (Revenue, USD Million; 2017-2027)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Table Of Contents:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Material Type Outlook
2.3. Application Outlook
2.4. Regional Insights
Chapter 3. Crop Protection Chemicals Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis – Porter’s Five Forces
184.108.40.206. Supplier Power
220.127.116.11. Buyer Power
18.104.22.168. Substitution Threat
22.214.171.124. Threat from New Entrant
126.96.36.199. Competitive Rivalry
3.6. Roadmap of Crop Protection Chemicals Market
3.7. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Consumer Calorie Perception
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Observations & Recommendations
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