Crop Protection Chemicals Market Outlook
According to a new report by Expert Market Research titled, “Crop Protection Chemicals Market Price, Share, Analysis, Report and Forecast 2023-2028″, the crop protection chemicals market is projected to grow at a CAGR of 3.9% between 2023 and 2028. Aided by the escalating need for high-quality crop yield and the expanding use of these chemicals in various agricultural practices, the market is expected to grow significantly by 2028.
Crop protection chemicals, also known as pesticides, are extensively used in agricultural practices to protect crops from pests, diseases, and weed infestation. These chemicals, including insecticides, fungicides, and herbicides, play a pivotal role in ensuring food security by preventing potential crop losses and thereby, improving crop yield quality and quantity. Apart from their primary role, these chemicals also contribute to soil health by managing soil-borne diseases and pests.
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The surging global population is necessitating the increased production of food. This, coupled with the rising awareness about food security, is significantly driving the global crop protection chemicals market growth. The escalating need for high-quality and high-yield crops has led to a surge in the use of crop protection chemicals in various farming practices. Moreover, the growing inclination towards technologically advanced agricultural practices has further bolstered the demand for these chemicals.
The diversifying applications of crop protection chemicals in different agricultural sectors also have a substantial impact on the crop protection chemicals market development. These substances are used in horticulture to preserve the appeal and well-being of ornamental trees and plants. These compounds are used in the viticulture sector to safeguard grapevines from pests and diseases, hence ensuring the quality and yield of grapes. Additionally, the rise of the market has been accelerated by the use of these pesticides in the growing of non-food crops like cotton and tobacco.
Additionally, the need of crop protection agents has increased with the popularity of genetically modified crops. For optimum growth and productivity, these genetically modified crops—which have been altered to be resistant to particular pests or diseases—often require a certain type of crop protection agent. This has resulted in an upswing in the demand for crop protection chemicals, further fostering the crop protection chemicals market growth.
However, the crop protection chemicals market faces challenges due to increasing concerns over environmental and human health risks associated with these chemicals. To address these issues, there has been a growing focus on developing and promoting the use of bio-based crop protection chemicals. These bio-pesticides, derived from natural materials like animals, plants, bacteria, and certain minerals, are proving to be a sustainable and environment-friendly alternative to conventional crop protection chemicals.
Besides, the escalating trend towards organic farming is also influencing the crop protection chemicals market. The increasing consumer preference for organically grown food products and the growing awareness about the harmful effects of synthetic pesticides have resulted in a surge in demand for organic and bio-based crop protection chemicals.
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Crop Protection Chemicals Market Segmentation
The market can be divided based on source, product type, form, crop type, mode of application, and region.
Market Breakup by Source
Market Breakup by product Type
Market Breakup by Form
Market Breakup by Crop Type
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
Market Breakup by Mode of Application
- Foliar Spray
- Seed Treatment
- Soil Treatment
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global crop protection chemicals companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Bayer AG
- Syngenta Crop Protection AG
- BASF SE
- FMC Corporation
- Sumitomo Chemical Co., Ltd
- Rotam CropSciences Limited
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