Alexa
  • Directory of Taiwan

(2017–2021) Over US$ 330 Bn|Crop Protection Chemicals Market, Increasing Need For Food Protection

  111

Crop protection is a science of protecting plants/crops from weeds, pests, and various diseases that damage crops and trees and the crop yield. Crop protection chemicals are used to keep weeds and pests from destroying crops, and to enhance crop yield.

The global crop protection chemicals market is estimated to value of over US$ 60 Bn in 2017, and is projected to register a CAGR of 5.5% in terms of value during forecast period 2017–2026. The first five-year cumulative revenue (2017–2021) is projected to be over US$ 330 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.

Global Crop Protection Chemicals Market Dynamics:

Major factors driving growth of the global crop protection chemicals market are increasing need for food protection and need to enhance crop yield. Rising need to ensure availability of food to meet the demand of growing population across the world is another key factor expected to lead to increasing utilization of crops protection chemicals.

Rapid urbanization across the globe has led to decrease in arable land, which has led to limited land availability, potential crop diseases, insects, pest, owing to which it has become necessary to ensure crop safety so as to obtain maximum yield.

Stringent regulations towards use of synthetic pesticides is a major factor hampering growth of the global crop protection chemicals market. Some crop protection chemicals cause illness in human beings, and also have adverse effects on the environment. As a result, governmental bodies are imposing stringent regulations to monitor production and distribution of such synthetic chemicals, and are banning their use for agricultural purposes.

However, increasing production of bio-pesticides on a large scale is a major factor expected to create lucrative business opportunities for major manufacturers in the global market over the forecast period. The current trend observed in the global market is increasing applications of herbicides and weedicides to control growth of the unwanted weeds and plant without harming the crop. This factor is expected to further drive growth of the global crop protection chemicals market to a significant extent over the next 10 years.

The global crop protection chemicals market is segmented into product type, form, crop type, and region. On the basis of product type, the global market is segmented into herbicide, fungicide, insecticide, and others (Others segment includes acaricides, nematicides, and rodenticides). The herbicides segment is estimated to account for highest revenue share in the global market; whereas the fungicide segment is expected to register highest growth over the next ten years.

On the basis of form, the global market is segmented into liquid and solid. The liquid segment is expected to account for highest revenue share, and is expected to register highest CAGR over the forecast period.

On the basis of crop type, the global market is segmented into cotton, fruits & vegetables, cereals, rice, maize, and others (Others segment includes sugarcane & ornamentals). The fruit and vegetable segment is expected to account for highest market share in the global market; whereas the cereals segment is expected to register highest growth in terms of revenue over the forecast period.

On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is estimated to account for highest share in terms of revenue in the global market. The Asia Pacific crop protection chemicals market is expected to witness highest growth in terms of revenue over the forecast period.

Get PDF Research Sample Before Buying For More Professional And Technical Insights: https://marketresearch.biz/report/crop-protection-chemicals-market/request-sample/

The Asia Pacific market accounts for significant share in terms of revenue in the global market. The Asia Pacific crop protection chemicals market is expected to witness highest growth in terms of revenue and is expected to register a CAGR of over 6% during the forecast period. Increasing demand for food grains, increasing awareness regarding crop protection chemicals, and initiatives by government towards spreading awareness about use of bio-pesticides in countries in this region are major factors driving growth of the Asia Pacific crop protection chemicals market. Asia Pacific region is one of the major producers of agricultural products including cotton, rice, and maize. The countries in the region are primarily involved in production of various types of principal crops such as rice, pulses, and wheat, which require crop protection chemicals for better quality and yield. This are other factors further driving growth of the Asia Pacific crop protection chemicals market.

Key players operating in the global market include BASF SE, Arysta LifeScience Corporation, Bayer Crop Science AG, Sumitomo Chemical Company Limited, DowDuPont Inc. (E. I. du Pont de Nemours and Company and The Dow Chemical Co.), FMC Corporation, Marrone Bio Innovations Inc., Monsanto Company, American Vanguard Corporation (AMVAC Chemical Corporation).