Global Crop Protection Chemicals Market Share, Size, Growth and Forecast 2027
According to TechSci Research report, “Global Crop Protection Chemicals Market By Type (Herbicides; Insecticides; Fungicides; and Others), By Origin (Synthetic Vs. Biopesticides), By Mode of Application (Foliar Spray; Seed Treatment; Soil Treatment; and Others), By Region, Forecast & Opportunities, 2027”, the global crop protection chemicals market is expected to grow at a steady rate during the forecast period on account of the decreasing arable land.
Hence, the increasing need to protect crop growing in limited arable land is expected to drive the growth of the market during the next five years. Additionally, changing climatic conditions are also expected to have a positive impact on the growth of the market. Furthermore, the easy availability, low cost, and high efficiency of these crop protection chemicals have made them a popular choice among farmers, thereby propelling market growth across the globe.
Besides, an increase in crop losses due to pest and insect attacks is further anticipated to bolster the growth of the market through 2027. However, increasing R&D costs can hamper the growth of the market during the forecast period.
Additionally, there are a lot of health hazards associated with the excessive use of crop protection chemicals and stringent regulations by different government and environmental agencies on their use, which might impede the growth of the market. Moreover, the use of alternative methods to control pets, insects, weeds, etc., is also expected to slow down the growth of the market through 2027. Also, the government has imposed a ban on certain pesticides and fertilizers thereby slowing down the growth of the market.
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The global crop protection chemicals market is segmented based on type, origin, mechanism of application, company, and region.
Based on type, the market can be categorized into herbicides, insecticides, fungicides, and others. The insecticides segment is expected to register significant growth in the market over the next few years on account of their extensive use during staple crop cultivation as these crops are largely attacked by insects. Based on origin, the market can be bifurcated into synthetic and biopesticides.
The biopesticides segment is expected to grow significantly during the forecast period. This can be ascribed to their increasing demand owing to their low toxicological profile and eco-friendly characteristics. Additionally, these biopesticides are less detrimental to humans, available at an affordable price, and are highly target-specific.
They do not harm the non-target species. Moreover, they decompose easily without leaving any residue behind, thereby driving the growth of the segment.
BASF SE, The Dow Chemical Company, E.I. du Pont de Nemours and Company, Sumitomo Chemical Co., Ltd., Syngenta AG, Bayer Cropscience AG, FMC Corporation, Monsanto Company, Nufarm Limited, ADAMA Agricultural Solutions Ltd., Makhteshim Agam, Arystya Lifescience, Valent Biosciences Corporation, Koppert BV, Certis USA LLC, Corteva AgriScience, UPL Limited, Rotam Cropscience, PI Industries, Cheminova A/S, and others are some of the leading players operating in global crop protection chemicals market.
The companies operating in the market are using organic strategies such as product launches, mergers, and collaborations to boost their share. For instance, in May 2019, BASF SE launched a fungicide “Seltima” for the efficient production of high-quality rice. The product contains a special encapsulation technology to ensure a controlled release of active ingredients directly on the plant surface.
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“Asia-Pacific is expected to witness significant growth in the crop protection chemicals market during the forecast period owing to the increasing acceptance of modern farming techniques in the region. Additionally, advancements in crop protection techniques against pests, insects, weeds, etc., are further expected to propel the market over the next five years. Moreover, key manufacturers are also setting up their manufacturing units in the region, which is anticipated to positively impact the market growth through 2027.
Also, the increasing demand for low-price crop protection chemicals coupled with the increasing food demand in the region to fulfill the needs of the ever-increasing population, especially in countries like India and China is expected to create lucrative opportunities for market players during the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Crop Protection Chemicals Market By Type (Herbicides; Insecticides; Fungicides; and Others), By Origin (Synthetic Vs. Biopesticides), By Mode of Application (Foliar Spray; Seed Treatment; Soil Treatment; and Others), By Region, Forecast & Opportunities, 2027”,” has evaluated the future growth potential of global crop protection chemicals market and provides statistics & information on market size, structure and future market growth.
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The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global crop protection chemicals market.
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