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Vegetable Gardening Chemicals Market Size Forecast to Reach $25 Billion by 2025
Vegetable Gardening Chemicals Market Size Forecast to Reach $25 Billion by 2025
Essential Nutrients Are Supplied to the Plant Thereby Ensuring the Health of Plant and Increasing Crop Yield. The Factors Such as High Demand and Cost of Basic Agrochemicals Like Pesticides and Herbicides, Increasing Popularity for Organic Vegetables

Vegetable Gardening Chemicals Market size is forecast to reach $25 billion by 2025 after growing at a CAGR of 4.5% during 2020-2025. Growing population, decreasing arable land, food security, and the need for increased agricultural productivity are the major factors driving demand for higher agricultural output, thereby increasing global growth in the vegetable gardening chemicals industry.

By Type– Segment Analysis

Organic segment held the largest share in the Vegetable Gardening Chemicals market in 2019. Organically cultivating vegetables is a long-term method that takes place in stages, rather than a single processing activity that is implemented in one growing season. A transition from traditional to organic gardening requires the introduction of organic production techniques. In this transition the first step is to improve and maintain soil fertility or soil quality. Organic vegetable gardening encourages and improves on the field, as a part of organic farming, natural diversity, and biological cycles. Instead of relying on synthetic fertilizers and pesticides, organic gardening is based on a self-sufficient and sustainable gardening. Organic vegetable gardening is based on minimal use of off-farm inputs and on management practices that restore, maintain, or enhance ecological harmony.

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By Chemical– Segment Analysis

Herbicides segment held the largest share in the Vegetable Gardening Chemicals market in 2019. Herbicides which are pesticides designed to kill weeds. Herbicides can be used on a wide variety of vegetables. Depending on the crop and can be applied before or after vegetable seedling emergence. They are most effective when sprayed on emerging weeds. Herbicides perform differently as their incorporation is affected by water and crop selectivity can thus be substantially reduced. Although herbicides play an important role in a highly mechanized, open-air, comprehensive horticulture, hand weeding is a common practice in growing vegetables, even after herbicide treatment. Broadleaf weeds cause major problems in vegetables because grass weeds are managed much better in rotation or they can be successfully eliminated with the use of selective foliar-applied herbicides.

Geography - Segment Analysis

Asia-Pacific (APAC) dominated the Vegetable Gardening Chemicals market growing at CAGR of 40% followed by North America and Europe. Micro and Macro nutrients are necessary for the growth and development of plant as they are a vital component in many life stages of a plant. Owing to infertility of the soil or poor retention or improper maintenance plants do not get sufficient. Vegetable chemicals make sure that these essential nutrients are supplied to the plant thereby ensuring the health of plant and increasing crop yield. The factors such as high demand and cost of basic agrochemicals like pesticides and herbicides, increasing popularity for organic vegetables. Japan is a significant market for crop protection chemicals for fruits and vegetables. Compared to any other country in the world, the nation has the highest use of pesticides per hectare, at around 12 kg per hectare. Synthetic pesticides have been extensively used in India to alleviate the estimated 45 per cent gross crop loss due to pest and disease infestation. Important factors driving the Indian market include increased demand for food grains, limited arable land availability, as well as increased exports, growth in horticulture and floriculture. Currently the gardening chemicals industry has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020.

Drivers –Vegetable Gardening Chemicals market

Rise in demand for horticulture crops to feed the population of fast-growing economies

According to the population projection by the UN the total world population could reach 9.15 billion in 2050, which would require a 70% overall increase in food production, from which the production in developing countries would have to be doubled. Therefore, there increased demand for agricultural production along with the need for preserving the soil fertility and water resources to be able to feed the growing population while keeping up with the diet changes and nutritional requirements.

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Challenges – Vegetable Gardening Chemicals market

High Cost and Regulatory Hurdles can restrict the market growth

Herbicide manufacturers face numerous challenges while creating new herbicide groups. The high cost associated in the production is one of the major factors restricting the growth. Most of the cost will come during the process of regulating. The evaluation and approval process of the Environmental Protection Agency (EPA) must be completed before a new herbicide is placed on the market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Vegetable Gardening Chemicals market. In 2019 the Vegetable Gardening Chemicals market has been consolidated by the top five players accounting for xx% of the share. Major players in the Vegetable Gardening Chemicals market rare BASF SE, Bayer Cropscience AG, Corteva Agriscience, Sygenta International AG, Adama Agriculture Solutions Ltd., and Others.

Key Takeaways

Asia-pacific dominates the Vegetable Gardening Chemicals market owing to high production of vegetable in region.
The market is highly fragmented, with the industry dominated by a few players across various geographic regions.
Increasing R&D cost, low per capita use of crop protection chemicals in several developing economies and ban in pesticides acts as retraining factor.

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