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. Rising need for food security due to strict regulations introduced by many governments, increasing foodborne diseases and growing population, drive the demand for crop protection chemicals. The rising investments in R&D and agricultural sector have led to continuous product innovations, which has further enhanced the market growth. Heavy crop loss due to pest attack pressurise farmers to use crop protection chemicals further propelling its market growth. Growing demand for bio pesticides owing to rising consumer awareness regarding food and environmental safety will create opportunities for crop protection chemicals’ manufacturers in years ahead.
The rise in 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.
Geographically, 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 rapidly growing population coupled with rising farm expenditure drive the crop protection chemicals market. However, North America dominated the market share in 2016 and is expected to hold a notable share by the end of projected period owing to a high rate of adoption of new technologies and strict agricultural regulations.
The global Crop Protection Chemicals market is well diversified owing to the presence of numerous regional, local and international players. The competition is expected to intensify further as a result of product extensions, technological innovations and mergers and acquisitions. The big international players are emphasizing on acquiring small local or regional firms to strengthen their market reach and offering. The major players discussed in this report include BASF, Monsanto, FMC Corporation, Bayer, DowDuPont, Syngenta, and ADAMA Agriculture Solutions.
In the report, crop protection chemicals market has been segmented by origin, type, application and geography.
Fruit and Vegetables
Oilseeds and pulses
Cereals and grains
Europe Middle East and Africa