Market Research Of Global Crop Protection Chemicals Market By Knowledge Sourcing Intelligence
A Brief Study of Crop Protection
Chemical Market
Crop protection is required for preventing
the crop from damage while saving water and protecting the fertility of the soil.
Global crop
protection chemicals market is projected to witness a compound annual growth
rate of 6.05% during the forecast period to reach a total market size of
US$81.394 billion by 2022, increasing from US$60.680
billion in 2017 The crop protection chemical like pesticides, herbicides, and
fungicides help in controlling the growth of weeds which would among crops
competing for water, nutrients, and sunlight. The major players in
the industry include
BASF, Monsanto, FMC Corporation, Bayer, DowDuPont, Syngenta, and ADAMA
Agriculture Solutions. The factors driving the market
demand are as follows:
Increasing demand for food
With the increase in the population around the world, the demand for food is also increasing. With crops getting destroyed
by insects and pests, along with the poverty many households are not able to
meet their daily requirements of food. For example, according to the United
States Department of agriculture, an estimate of 11.1 percent of US households
were food insecure at least sometime during the year 2018. The condition is
worse in under-developed and developing economies. Therefore, various crop
protection chemicals are being used so that the available crops can be
protected.
Rising investments in R&D and agricultural sector
The need for continuously innovating
products for providing better consumer experience has lead to the crop protection chemical market growth.
Now, various chemicals are present in the market which can protect the crops
while also preventing water wastage and protecting the fertility of the soil.
Sample
view of global crop protection chemicals market share
Rising trend of crop losses due to pest attack
The crops grown for human consumption are
at huge risk due to the incidence of weeds, pathogens, and animal pests. The
weeds do heavy potential loss to the crop produce. The crop protection chemical market analysis shows that the heavy loss
of crops will boost the demand for the product.
Rising health awareness among the people
The increasing awareness among the people about
food and environmental safety is promoting the use of biopesticides which will
augment the growth of the market.
Market Segmentation
The crop protection chemicals market has been
segmented by origin, type, application, and geography. By origin, the market is
classified as synthetic and biopesticides. Synthetic
chemicals account for a high share of the market, but the biopesticides is
continuously growing as it is safer for human beings than synthetic chemicals.
Biopesticides' growth will lead to the growth of the crop protection chemical market size.
By type, the market is classified as Herbicides,
Insecticides, Fungicides, and Others. The herbicides
segment holds a significant share owing to its ability to various herbs and
unwanted herbs.
By application, the market is
classified as Fruit and Vegetables, Oilseeds and Pulses, and Cereals and
grains. The rise in the
production of cereals and grains, especially in Asian countries augments crop
protection chemicals’ demand for cereals and grains segment. Moreover, high
crop loss primarily because of weeds and hazardous herbs coupled with
decreasing arable lands due to rapid urbanization further trigger this
segment’s growth.
By geography, the
market is classified as North America, South America, Middle East and Africa,
and The Asia Pacific. Asia Pacific is expected to grow at a high
CAGR over the projected period primarily because of the demand generated by
rapidly developing countries like India and China. Increased demand for crop
production due to a rapidly growing population coupled with rising farm
expenditure drives the crop protection chemicals market. However, North America
expected to hold a notable share owing to a high rate of adoption of new
technologies and strict agricultural regulations.
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