Asia-Pacific Crop Protection Chemicals Market - Growth, Trends, and Forecasts (2020 - 2025)
The AsiaPacific crop protection chemicals market is projected to register a CAGR of 3.8% during the forecast period of 20202025.
The increasing need for food crops due to the rise in population in the region fueled the use of pesticides to enhance the crop yield. Additionally, In countries, such as India and other southeast Asian countries, the arable land per person is decreasing at an alarming rate where the use of pesticides can play an important role in increasing the average crop yields per hectare. Both government and private initiatives, which include the right usage of pesticides in terms of quantity and the right application methodology are increasing the awareness of over usage of pesticides among the farmer community in the region.
Bayer CropScience AG, FMC Corporation, Adama Ltd, Syngenta CropProtection AG, and Sumitomo Chemical Co. Ltd are some of the prominent players operating in this market.
Key Market Trends
Increase in Adoption of BioPesticides
The increasing impetus provided by the demand for safe and healthy food and the increasing realization of adverse effects of usage of excess synthetic crop protection chemicals to human health has provided the required fillip to the nascent biopesticide market in the region. In China, the Ministry of Agriculture introduced the “Zero Growth Policy of Pesticides and Fertilizers by 2020” in 2015, in order to phase out the use of synthetic pesticides and promoted the use of biobased and organic pesticides. The exponential growth in demand for biological agroinputs in markets such as China is attracting many international players to come and introduce their technologies and establish their manufacturing plants in the region. With regional regulatory authorities promoting biopesticide usage through regulations, policies, and schemes, the demand for biopesticides is expected to increase during the forecast period.
Insecticide Holds a Prominent Share
The increasing demand for agricultural products and the resultant commercialization of agriculture induced a rising use of agricultural chemicals in the region. The crop damage by insects is highest, followed by pathogens and weeds. Insecticides account for a prominent share in total pesticide use in the region. In countries such as India, there is a significant increase in imports of insecticides from countries such as China and Germany. According to the Directorate General of Commercial Intelligence and Statistics (DGCI&S), India imported 11,095 metric tons of insecticides from China, and 1,065.9 metric tons of insecticides from Germany, in 201617. Owing to an increased focus toward environmental sustainability, while maintaining the crop output, the demand for bioinsecticides in the region is expected to increase in the coming years. With companies such as Syngenta CropScience, Bayer AG, and FMC corporation setting up their own manufacturing plants and launching products that cater to the needs of farmers in this region, the market growth for insecticides is expected to increase over the next few years.
Bayer CropScience AG, FMC Corporation, Adama Ltd, Syngenta CropProtection AG, and Sumitomo Chemical Co., Ltd are some of the prominent players who are operating in this market. These players are investing heavily in Research and Development activities and are launching new innovative crop protection chemical products in the region.
In 2018, BASF codeveloped a new insecticide, Inscalis with a Japanese company, Meiji Seika Pharma Co. Ltd, to protect crops from critical piercing and sucking insect pests.
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