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The crop protection chemicals market size is forecast to increase by USD 23.3 billion between 2023 and 2028, at a CAGR of 3.21%. Crop protection chemicals are essential for maintaining agricultural yields by protecting against invasive pests and new plant diseases. The growing consumer preference for fruits, vegetables, and leafy crops has increased demand for these chemicals in the cereal, grains, fruit, vegetable, oilseed, and pulse sectors. Herbicides, insecticides, and fungicides are the main categories of crop protection chemicals in use. Both synthetic and natural alternatives, such as biologicals and biopesticides, are gaining traction due to growing awareness of health and environmental impacts.
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One of the key factors driving market growth is the rising use of herbicides. Over the years, there is an increase in investments being made in the development of new varieties of herbicides that are more effective and eco-friendly.
The herbicide application ranges across varieties of crops, including cereals, grains, fruits, vegetables, oilseeds, and pulses. Factors such as the shifting presence of consumers toward fruits and green vegetables, propelled by the increasing awareness regarding health and fitness fuels the increasing adoption of herbicides. Thus, the growing use of herbicides can significantly drive the market growth during the forecast period.
The Cereals and Grains segment was the largest segment and was valued at USD 43.50 billion in 2018. Crop protection chemicals play a crucial role in safeguarding crops from invasive pests and emerging diseases, particularly in the production of staple foods such as cereals and grains, fruits and vegetables, oilseed and pulses. Consumer food preferences and the need for healthy diets have driven the demand for these chemicals in various forms, including foliar spray, seed treatment, and soil treatment. Synthetic and natural options, such as herbicides, insecticides, and fungicides, are utilized to enhance crop yields and mitigate malnutrition and food insecurity. Biologicals, including biologicals, biopesticides, and nanotechnology, are increasingly adopted to reduce pesticides residue and minimize environmental impact. The herbicides segment, particularly in cereals and oilseeds, is a significant market, with rice cultivation being a major focus. Small scale manufacturers employ formulation technologies to cater to the diverse needs of the industry. The use of crop protection chemicals, however, raises concerns regarding greenhouse gas emissions, tillage practices, and the potential for pesticide residue and glyphosates, difenoconazole, imidacloprids, and bifenthrin. Biotechnology and microbiology offer potential solutions to address these challenges.
APAC is estimated to contribute 45% to the growth of the global market during the forecast period. In APAC, the agriculture industry encompasses a significant portion of the global population and land area. The demand for food grains and modern farming practices have propelled the region to become the largest and fastest-growing market for agrochemicals, including crop protection chemicals. Encapsulation techniques are increasingly utilized to enhance the efficacy and stability of these chemicals. Regulatory pressures call for the adoption of precision agriculture technologies, such as GPS-guided equipment and drones, to minimize chemical usage and ensure targeted application. Sensors play a crucial role in monitoring crop health and optimizing chemical application, further contributing to market growth during the forecast period.
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The Crop Protection Chemicals Market is fragmented in nature. Some significant players include American Vanguard Corp., BASF SE, Bayer AG, Bharat Group, BioWorks Inc., Chr Hansen Holding AS, Coromandel International Ltd.,
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
American Vanguard Corp., BASF SE, Bayer AG, Bharat Rasayan Ltd., BioWorks Inc., Chr Hansen Holding AS, Coromandel International Ltd., Corteva Inc., Dhanuka Agritech Ltd., Dow Chemical Co., DuPont de Nemours Inc., FMC Corp., Nufarm Ltd., Rotam CropSciences Ltd., Sumitomo Chemical Co. Ltd., Syngenta Crop Protection AG, Tata Chemicals Ltd., The Indogulf CropSciences Ltd., UPL Ltd., and Verdesian Life Sciences LLC
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The market is a significant sector in the agricultural industry, utilizing various chemicals to safeguard crops from pests and diseases. These essential products include insecticides, herbicides, fungicides, and others. The market demand for crop protection chemicals is driven by factors such as increasing agricultural productivity, growing food demand, and the need for higher crop yields. The market for crop protection chemicals is diverse and expansive, with numerous players and offerings. Key players include companies specializing in research and development, manufacturing, and distribution of these essential agrochemicals. Some of these companies focus on specific regions or crop types, while others have a global presence and cater to a wide range of agricultural needs.
The global agriculture industry is at a crossroads, where chemical solutions play a significant role in enhancing crop yields and managing pests. However, this reliance on chemicals is increasingly scrutinized due to stringent regulations designed to protect human health and the environment. The market landscape depends on the Cereal and Grains, Food systems, Environmental benefits, Pesticide use, Agribusiness companies, Integrated Pest Management (IPM), GPS guided equipment. Pesticide registration requirements have become more rigorous, reflecting a growing demand for safer and more sustainable agricultural practices. One of the major challenges facing the industry is the development of resistance in pests and weeds to conventional chemical solutions. This resistance can lead to decreased effectiveness of pesticides, requiring farmers to use higher doses or find alternative solutions, which could have adverse environmental consequences.
The crop protection chemicals market is segmented based on product type, application, and region. Product types include insecticides, herbicides, fungicides, and others. Applications include cereals and grains, fruits and vegetables, and others. Regions include North America, Europe, Asia Pacific, and the rest of the world. The market for crop protection chemicals is expected to grow due to the increasing global population and the resulting demand for food. Additionally, advancements in technology and the development of eco-friendly alternatives are driving innovation in the market. Overall, the crop protection chemicals market plays a crucial role in ensuring food security and agricultural sustainability.
Crop Protection Chemicals Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Decelerate at a CAGR of 3.21% |
Market growth 2024-2028 |
USD 23.3 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.09 |
Regional analysis |
APAC, South America, Europe, North America, and Middle East and Africa |
Performing market contribution |
APAC at 45% |
Key countries |
China, Brazil, India, France, and US |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American Vanguard Corp., BASF SE, Bayer AG, Bharat Rasayan Ltd., BioWorks Inc., Chr Hansen Holding AS, Coromandel International Ltd., Corteva Inc., Dhanuka Agritech Ltd., Dow Chemical Co., DuPont de Nemours Inc., FMC Corp., Nufarm Ltd., Rotam CropSciences Ltd., Sumitomo Chemical Co. Ltd., Syngenta Crop Protection AG, Tata Chemicals Ltd., The Indogulf CropSciences Ltd., UPL Ltd., and Verdesian Life Sciences LLC |
Market dynamics |
Parent market analysis, market trends and analysis, market growth analysis, market research and growth, market growth and forecasting, Market forecasting, market report, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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