Crop Protection Chemicals Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034

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Modern agriculture is dependent on the development and use of crop protection chemicals, commonly referred to as pesticides. By using these compounds, farmers are likely to efficiently control pest populations, lessen weed competition, and avoid fungal diseases, which have the potential to destroy entire crops.

MARKET OVERVIEW

The crop protection chemicals market is valued at approximately USD 75.6 billion in 2023 and is projected to reach USD 129.3 billion by 2034 exhibiting a compound annual growth rate (CAGR) of 5.0% during the forecast period of 2024-2034. The primary purpose of these chemicals is to safeguard crops from various threats that are able to significantly decrease yield and its quality.


GROWTH DRIVERS

With the growth in the global population, the need for food production increases. The report of 'Global agriculture towards 2050' indicates that in order to feed the world's 9.1 billion people by 2050, total food production requires to be increased by almost 70% between 2005–2007 and 2050. Due to this, crop protection chemicals have grown more importance in managing pests, diseases, and weeds that threaten crop yields.

The market is significantly shaped by government regulations. To maintain food safety and environmental preservation, many nations have imposed strict regulations on the use of pesticides and herbicides. For instance, regulators such as the U.S. Environmental Protection Agency (EPA) and the European Food Safety Authority (EFSA) assess the safety and efficacy of these chemicals before they can be marketed.

MARKET SEGMENTATION:

By Type -

·         Synthetic Crop Protection Chemicals

o   Herbicides

o   Insecticides

o   Fungicides

o   Other Synthetic Chemicals

·         Biological Crop Protection Chemicals

o   Bioinsecticides

o   Biofungicides

o   Bionematicides

o   Bioherbicides

o   Other Biological Chemicals

By Formulation –

·         Liquid Formulation

·         Dry Formulation

By Crop Type –

·         Cereals & Grains

·         Oilseeds & Pulses

·         Fruits & Vegetables

·         Other Crop Types

By Mode of Application –

·         Foliar Spray

·         Seed Treatment

·         Soil Treatment

·         Other Modes of Application

By Region -

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Crop Protection Chemicals Market By Type Segment Review:

The synthetic chemicals segment holds a major market share due to their lower price and pest-targeted effectiveness. Their quick action assists farmers in managing outbreaks quickly, resulting in a reduction in crop loss. However, with the increasing awareness among consumers and farmers regarding the environmental impact of synthetic pesticides, the market for biological crop protection chemicals is expected to grow significantly during the forecast period.


Crop Protection Chemicals Market By Formulation Segment Review:

The dry formulation segment is expected to dominate the global market for crop protection chemicals because of their ease of use and reduced risk of spillage. Compared to liquids, dry formulations have a longer shelf life, which makes them more appealing for storage and transportation purposes.

Crop Protection Chemicals Market By Crop Type Segment Review:

The crop protection chemicals market is dominated by cereals and grains. Cereals and grains are in rising demand because of the growing global population's need for increased food production. The need for effective pest control solutions is driven by this to maximize yield.

Crop Protection Chemicals Market By Mode of Application Segment Review:

One of the most popular techniques for applying crop protection agents is foliar spraying. Using this technique, pesticides are sprayed directly onto plant leaves. Using this strategy, farmers are able to maximize efficacy and minimize waste by focusing on specific areas where infestations are observed.

Crop Protection Chemicals Market By Region Segment Review:

Asia Pacific is the largest market for crop protection chemicals. The region's small and marginal crop producers' increasing understanding of the benefits of using crop protection products has contributed to the market's robust expansion.

Crop Protection Chemicals Market Regional Synopsis:

Asia Pacific holds the largest market share in the crop protection chemicals sector, driven by a growing awareness among small and marginal farmers about the benefits of crop protection products, alongside an expansion in high-value and export-oriented crop cultivation.

Latin America is projected to be significant consumers of crop protection chemicals due to rising agricultural exports and modern farming inputs. The demand for organic products is driving farmers to focus more on sustainable agriculture practices.

The demand for crop protection chemicals is substantial in North America due to declining arable land and growing food security concerns.

Improved farming techniques and a growing focus on integrated pest control strategies are driving the crop protection chemical market in Europe. The presence of key manufacturers further contributes to its robust market activity.


The Middle East and Africa have witnessed an increase in the demand for crop protection chemicals due to the increased demand for grain crops and field cultivation areas. This region's agricultural productivity is greatly impacted by the cost-effectiveness of chemical pesticides.

Crop Protection Chemicals Market Key Challenges:

The problem of pesticide residues on crops is one of the main obstacles. Governments and international organizations have established strict maximum residue limits (MRLs) in response to growing consumer awareness and regulatory scrutiny about food safety. Trade barriers, product recalls, and a negative public perception of agricultural products are possible consequences of not complying with these standards. Due to these circumstances, producers are forced to innovate and create items with minimal or no residue, which are often expensive and time-consuming.

Due to consumer preferences for organic products free of artificial chemicals, there is a growing movement towards organic agricultural methods. Traditional crop protection chemical manufacturers are facing a challenge due to this shift.

Crop Protection Chemicals Market Competitive Landscape:

The global market for crop protection chemicals is characterized by a competitive environment that includes several key players, each vying for market share through various strategies such as product innovation, mergers and acquisitions, and geographical expansion.

Companies are concentrating on launching new products that meet specific pest management requirements while also adhering to environmental regulations. For example, numerous companies are investing in the development of ecologically friendly chemical solutions and biopesticides due to the growing need for sustainable farming methods.

Crop Protection Chemicals Market Key Players:

·         BASF SE

·         Bayer AG

·         Syngeta AG

·         Corveta Inc.

·         FMC Corporation

·         Sumitomo Chemicals

·         UPL Ltd.

·         Nufarm

·         Rotam CropSciences Ltd

·         Albaugh LLC

·         Koppert

·         Gowan Company

·         Other Key & Niche Players

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