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Crop Protection Chemicals
“Crop Protection Chemicals Market: Exactitude Consultancy Research Report Offers Comprehensive industry Overview and Future Projections”
The crop protection chemicals market is growing due to rising global food demand, advanced farming practices, and the need for higher crop yields” - Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, September 3, 2024 /EINPresswire / -- Crop Protection Chemicals Market Overview:
Revenue from the global Crop Protection Chemicals Market size is estimated to reach US$ 61.4 billion in 2023. The market has been analyzed to climb to a value of US$ 84.41 billion by the end of 2030, expanding at a CAGR of 3.6% over the next decade.
The increase in this market is due to the increasing need for inexpensive methods to protect crops, the desire to improve crop productivity and quality, rising consciousness of environmental preservation, the greater use of modern agricultural techniques and technologies, and the swift decline in available agricultural land. Yet, the market's expansion is impeded by increasing worries about chemical residues in food and strict, inconsistent regulations. Additionally, a rising emphasis on integrated pest control, the increasing use of biological seed treatments, and the developing economies in Asia-Pacific and Latin America are projected to create substantial growth prospects for those involved in the crop protection chemicals industry.
However, the lengthy product registration and approval procedures and the complex development of film coatings for seed treatment are significant obstacles to the expansion of the market. Current trends in the worldwide market for crop protection chemicals include a focus on sustainability and bio-based options, as well as advancements in digitalization and precision agriculture.
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Competitive Rivalry:
The Crop Protection Chemicals market supports a range of applications, including supply chain analytics, risk analysis, demand forecasting, and vendor management. Solutions in this market encompass various modules such as financial surveys, real-time and batch data analysis, category management, and compliance management. Implementing these modules enhances data optimization, automates data cleansing, and facilitates sourcing category analysis.
Vital Companies Profiled in the Report are: BASF, Syngenta, Gowan, Bayer Crop Science, Corteva, PI Industries, Cheminova, Hansen, Nanjing red sun co. ltd, Kumiai Chemicals, Wynca Chemicals, Sampan Oxon etc., and others.
Industry News:
In January 2024, Gowan Crop Protection Limited, an affiliate of Gowan Company, LLC, had entered into agreements with Syngenta Crop Protection AG to acquire global rights to the active ingredient cyromazine. The acquisition encompassed product registrations and trademarks, including TRIGARD and LEPICRON, along with related intellectual property and labels.
In March 2023, Corteva solidified its position as a global leader in the rapidly expanding biologicals market by announcing the completion of its acquisitions of Symborg, an expert in microbiological technologies based in Murcia, Spain, and Stoller, one of the largest independent companies in the biologicals industry, based in Houston, Texas, US.
In December 2023, Albaugh LLC announced that it had received registration from the U.S. Environmental Protection Agency for its Maxtron 4SC herbicide (EPA Reg. No. 45002-37). Maxtron 4SC, containing ethofumesate, is a broad-spectrum herbicide designed to selectively control key weeds such as annual sowthistle, puncturevine, and purple and yellow nutsedge in sugar beets, garlic, onions, and other crops. This approval bolstered Albaugh LLC's position in the crop protection chemicals market by expanding its product lineup with a versatile and effective herbicide, enhancing its ability to meet the diverse weed control needs of farmers and improve crop yields.
Crop Protection Chemicals Market: Growth Drivers
Crop protection chemicals are commonly used in contemporary farming to boost crop production and save money by safeguarding crops from damaging pests and weeds. Therefore, the increase in crop production is vital in guaranteeing food stability for the expanding populations. As per the Food and Agriculture Organization (FAO), Brazil, China, and the U.S are significant users of these protective products. A significant factor in the increasing crop yield in these nations is the widespread use of pesticides.
Alterations in weather patterns have speeded up the frequency and spread of plant diseases and pests. Changes in weather patterns greatly affect the crop yield and vulnerability to pest issues. Climate change makes crops more vulnerable to various pests and diseases, thereby impacting crop production. Hence, any alteration in the climate results in changes in agricultural methods, resulting in reduced productivity. Additionally, inconsistent precipitation in different areas caused an increase in the number of fungi. These factors have led to an increase in farmers' reliance on products for effective pest control, which has in turn driven market growth.
Crop Protection Chemicals Market: Restraints
The market growth is being significantly limited by the increased resistance of pests to specific crop protection chemicals. Enhanced resistance to pests has increased due to the reduced potency of specific active ingredients. This resistance is caused by shifts in insect metabolism, higher rates of reproduction, and the rapid increase of pests.
Market Segments by Crop Protection Chemicals
Crop Protection Chemicals Market by Type, 2020-2029, (USD Billion), (Kilotons)
Herbicides
Insecticides
Fungicides
Bactericides
Crop Protection Chemicals Market by Origin,2020-2029, (USD Billion), (Kilotons)
Synthetic
Biopesticides
Crop Protection Chemicals Market by Form,2020-2029, (USD Billion), (Kilotons)
Liquid
Solid
Crop Protection Chemicals Market by Crop Type,2020-2029, (USD Billion), (Kilotons)
Cereals And Grains
Oilseeds And Pulses
Fruits And Vegetables
Other Crops
Crop Protection Chemicals Market by Application, 2020-2029, (USD Billion), (Kilotons)
Foliar Seed Treatment
Soil Treatment
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On the basis of type, the herbicides sector held the biggest share in the worldwide market due to a lack of manual labor for weed removal in emerging nations like India and China. The market segment growth is anticipated to be driven by the superior effectiveness of herbicides compared to manual weeding methods. The growth of the crop protection chemicals market is enhanced by the introduction of different herbicide products with special characteristics that target specific weeds and emerging crops. However, the growing adoption of genetically modified crops in different regions also leads to higher herbicide usage in farming.
On the basis of Crop Type, in recent years, there has been a strong increase in the cereals sector due to the widespread use of crop protection products in cereal farming. FAO predicts that global cereal production will increase by 2.6% in 2023 compared to the previous year. Moreover, the growing world population has resulted in a greater emphasis on food security and a strong need for crops, leading to the expansion of the cereals sector.
On the basis of by Origin, the market share of synthetic chemicals is significant because these chemicals are heavily utilized in emerging countries in Asia, South America, Africa, and the Middle East. The main reason for the rise in synthetic chemicals use is their cost-effectiveness and ability to target pests. Conversely, there is a rising demand for environmentally friendly crop protection products sourced from biological materials as governments at regional, national, and local levels promote their use.
The excessive use of chemical pesticides has resulted in higher pest resistance, decreasing the efficiency of these products. Biopesticides offer a different approach to deal with pest resistance problems, thanks to their distinctive methods of action. They frequently collaborate with chemical pesticides in integrated pest management (IPM) approaches, aiding in reducing resistance and prolonging the effectiveness of both biopesticides and chemical pesticides. Consumers are increasingly recognizing the environmental and health effects of chemical pesticides. This recognition is fueling the desire for organic and environmentally friendly food, leading to a higher need for biopesticides. Farmers are meeting consumer demand for organic products by switching to biopesticides. Governments and regulatory authorities are showing more support for biopesticide usage with favorable policies and regulations. For instance, the European Union's stringent rules on chemical pesticides promote the use of biopesticides. In the same vein, the United States and India are adopting measures to encourage sustainable farming techniques and the utilization of biopesticides.
based on the application, Traditional methods of applying, such as foliar and soil application divisions, make up a large portion of the market share. However, in recent years, seed treatment has become a widely used technique for applying these protective chemicals. Taking into account its price, effectiveness, and safety, the seed treatment application method is quickly becoming a more favorable option compared to conventional pest control methods. It can complement other methods of pest control to achieve successful outcomes in the field.
There is an anticipated continuous growth in the crop protection chemicals market in the South America region throughout the forecast period.
The biggest market is Asia Pacific. The increasing knowledge of small and marginal crop producers in the area about the importance of using protective products for crops has contributed to the market's robust expansion. The market growth in Asia Pacific is expected to be supported by the increase in cultivation of high-value and export-oriented crops. The growing population in the area and the rising demand for food crops are driving up pesticide use in the region.
By 2024, South America is expected to exceed the leading region in the consumption of crop protection chemicals, becoming the second-largest consumer in the world. Brazil is the primary consumer of pesticides in the area. The expansion of the market for crop protection chemicals in Brazil is fueled by the rise in agricultural exports, expansion of cultivated land, and adoption of modern farming inputs, including such protective products.
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