Crop Protection Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
The global crop protection market reached a value of US$ 57.7 Billion in 2017. The market value is further expected to reach US$ 77.3 Billion by 2023, exhibiting a CAGR of around 5% during 2018-2023. Crop protection chemicals help in managing and minimising plant diseases, weeds and other pests that damage agricultural crops. These chemicals also help in increasing and maintaining year over year crop yield. Crop protection chemicals can be mainly classified into herbicides, insecticides, and fungicides. Earlier, farmers used to control the infestation of insects and fungi by inorganic compounds such as arsenic and mercury salts. Currently, there are hundreds of chemicals available for protecting crops from getting damaged by birds, insects, rodents, bacteria, etc. The importance of crop protection chemicals have increased significantly over the last few decades catalysed by the need to enhance agricultural output and ensure adequate food availability for the growing global population.
From a population of around 7.6 Billion people today, the global population is expected to exceed 9 Billion by 2050. Moreover, the amount of arable land is also decreasing with rising urbanisation levels and more people living in cities compared to the countryside. Crop protection chemicals are expected to play a major role in increasing agriculture productivity in the coming years. These chemicals are expected to maximize agriculture yield by eliminating pests that reduce yields; resulting in more product per acre and lowering the need to convert natural areas such as woods and forests, native prairies, wetlands, plains, and other wildlife habitat into farm lands.
Crop protection chemicals such as herbicides have made no-till farming a viable option, allowing farmers to reduce erosion by leaving the soil largely undisturbed. Herbicides can be utilised for controlling weeds in no-till crop production, removing the need for cultivation; residue from the previous crop holds the soil in place during wind and rain. Crop residue also prevents runoff of agricultural chemicals and soil that may otherwise impact aquatic habitat and fresh water supplies downstream.
Another major benefit of crop protection chemicals is the control of infectious insects. Livestock is affected by flies and various other pests that cause disease, deliver painful bites, and impose stress. Insecticides play a major role in controlling these insects, resulting in animals converting their feed into meat and milk more efficiently and thus increasing profitability.
Crop protection chemicals have also been used to reduce the spread of exotic pest populations. For instance, herbicides were found to be very effective in controlling the weed purple loosestrife in marshes and wetlands. Similarly, herbicides were also effective against Canada thistle and Johnsongrass along rights-of-way and in farm fields.
Crop Protection chemicals also provide a major role in producing high quality grain and forage. For example, insecticides protect alfalfa crops from insects and diseases which would otherwise lead to significant reduction in the protein content (an important dietary requirement for dairy cattle) and yield.
Based on the product type, the market has been segmented into herbicides, fungicides, insecticides and others. Currently, herbicides dominate the market, holding the largest share.
Based on the origin, the market has been segmented as synthetic and natural. Synthetic crop protection chemicals currently represents a bigger segment.
Based on the crop type, the market has been segmented as cereal and grains; oilseed and pulses; fruits and vegetables; and others.
Based on the form, the market has been segmented as solid and liquid.
On the basis of mode of application, the market has been segmented as foliar spray, seed treatment, soil treatment and others.
Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America.
The competitive landscape of the market has also been examined with some of the key players being BASF SE, The DOW Chemical Company, Dupont, Sumitomo Chemical Co., Ltd, Syngenta AG, Bayer Cropscience AG, FMC Corporation, Monsanto Company, Nufarm Limited and ADAMA Agricultural Solutions Ltd.
This report provides a deep insight into the global crop protection chemicals market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the crop protection chemicals market in any manner.
Key Questions Answered in This Report:
How has the global crop protection chemicals market performed so far and how will it perform in the coming years?
What are the key regional markets in the global crop protection chemicals industry?
What are the major forms in the global crop protection chemicals industry?
What are the key crop types in the global crop protection chemicals industry?
What are the key product types in the global crop protection chemicals industry?
What are the key modes of application in the global crop protection chemicals industry?
What are the price trends of crop protection chemicals?
What are the various stages in the value chain of the global crop protection chemicals market?
What are the key driving factors and challenges in the global crop protection chemicals market?
What is the structure of the global crop protection chemicals market and who are the key players?
What is the degree of competition in the global crop protection chemicals market?
How are crop protection chemicals manufactured?
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