Crop Protection Chemicals Market Size to Hit US$ 89.7 Bn by 2030
Precedence Research
6 min read
Precedence Research
According to Precedence Research, the crop protection chemicals market size is expected to hit around US$ 92.02 billion by 2030 and expanding growth at a CAGR of 3.4% from 2022 to 2030.
Tokyo, April 08, 2022 (GLOBE NEWSWIRE) -- The global crop protection chemicals market size was valued at US$ 68.32 billion in 2021. The major driver is a greater emphasis on high agricultural productivity to combat food security. In terms of regulatory measures for safe farming and overall farming culture and practices, the agricultural industry has made significant progress around the world. The growing food demand has prompted agrochemical-based companies to invest in research and development to improve their product and transition to greener alternatives.
The key market players have been seen in the business commercializing bio-based compounds derived from mineral, plant, bacterium, and animal sources. The biopesticides are an example of an area where the industry has made great progress. In recent years, the focus of crop protection research has been on producing chemicals that are safer than older equivalents in order to address the demand for novel molecular solutions to combat pests that have gained resistance to earlier compounds.
The selectivity to control target pests, per hectare low application rate requirements, broad spectrum control to cover a wide group of pests and diseases, and meeting regulatory frameworks in regional and local markets are some of the other main research and development priority areas.
Report Scope
Details
Market Size in 2021
USD 68.32 Billion
CAGR
3.4% from 2022 to 2030
Fastest Growing Region
Asia Pacific
Largest Revenue Holder
North America
Companies Covered
BASF SE, The Dow Chemical, Bayer Cropscience AG, Sumitomo Chemical Co. Ltd, America Vanguard Corporation, Nufarm Limited, Adama Agricultural Solutions Ltd., Arysta Lifesciences Corporation, Jiangsu Yangnong Chemical Group Co. Ltd
Report Highlights
Based on the products, herbicides segment is estimated to be the most opportunistic segment during the forecast period. They are commonly employed in weed management, which aids in crop productivity and output quality. The herbicides aid in the reduction of soil erosion as well as the improvement of soil fertility and crop productivity.
Based on the applications, the cereals and grains segment dominated the global crop protection chemicals market in 2020 with highest market share. The expanding worldwide population has resulted in a greater focus on food security and a high demand for crops, boosting the cereals and grains segment’s growth.
North America is the largest segment for crop protection chemicals market in terms of region. The growing public awareness regarding pesticides as well as continual technological developments are driving this industry forward. The agribusiness firms have also been pushed to extend their supplier and production bases in North America as a result of expanding crop demand and rising cultivation in the region.
Asia-Pacific region is the fastest growing region in the crop protection chemicals market.The rice cultivation and the dominance of small-scale enterprises may be found in almost every Asian country.
Market Dynamics
Drivers
Emergence of pests due to climatic conditions
The plant diseases and pests have become more common as a result of changing environmental circumstances. The climate change has a substantial impact on crop productivity and insect issue susceptibility. The climate change makes crops more susceptible to various pests and disorders, which has an impact on crop productivity. As a result, each change in the climate causes as shift in farming practices, resulting in lower output. In addition, the fungal population grew as a result of unpredictably wet weather in different parts of the country. Thus, the emergence of pests due to climatic conditions is driving the growth of the crop protection chemicals market.
Restraints
Surge in resistance of pests
One of the key factors limiting the crop protection chemicals market expansion is insect resistance to some crop protection treatments. The increased pest resistance has resulted from the dramatic fall in the efficiency of certain active substances. The changes in insect metabolic patterns, increased reproduction rates, and pest multiplication are all factors contributing to this resistance.
Opportunities
Growing organic agriculture
Pesticides made without the use of chemicals are known as biopesticides. Since growing environmental concerns, as well as the potential for pollution and health problems from many conventional pesticides, demand for biopesticides has been continuously increasing in all parts of the world. Biopesticides are becoming more popular as a result of their lower or non-toxic toxicity as compared to synthetic pesticides. Furthermore, unlike traditional pesticides, which frequently harm a wide range of insects, birds, and mammal’s species, biopesticides give more targeted activity to desired pests. Biopesticides can also be very effective in small amounts, requiring less exposure and decomposing quickly; they leave virtually no hazardous residue after application.
The pesticide residues are of increasing concern because of their persistent nature, poisonous characteristics, bioaccumulation, lipophilicity, and negative health effects. Pesticides are absorbed into the human body through the ingestion of tainted fruits and vegetables. Cancers, birth defects, neurological diseases, endocrine disruptors, and reproductive consequences are among the significant health concerns associated with pesticide residue. The period of exposure and the toxicity of a pesticide define the chemical's effect. Acute or chronic consequences are possible. The constant monitoring of fruits and vegetables is necessary during farming due to the potential health hazards linked with pesticide ingestion.Difenoconazole and Bifenthrin are two typical pesticides discovered in fruits and vegetables sold to customers.
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333
About Us
Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
