Crop Protection Chemicals Market Size Worth $75.2 Billion, Globally, by 2028 at 2.8% CAGR – Crop Protection Chemicals Industry Report by Vantage Market Research
Vantage Market Research
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WASHINGTON, June 09, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Crop Protection Chemicals Market finds that rise in emphasis on high crop output to cater for food security is the key driving factor for the Crop Protection Chemicals Market. Rising food demand has supported agrochemical-based institutions to upgrade their products and shift to greener alternatives by investing in research activities. This is also augmenting maximum growth for the Crop Protection Chemicals Market.
The Global Market revenue stood at a value USD 63.8 Billion in the year 2021.
The Global Crop Protection Chemicals Market size is forecasted to reach USD 75.2 Billion by the year 2028 and is expected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 2.8% during the forecast period; states Vantage Market Research, in a report, titled “Crop Protection Chemicals Market Size, Share & Trends Analysis Report by Type (Herbicides, Insecticides, Fungicides Others (rodenticides, disinfectants), by Source (Natural, Biopesticide), by Form (Dry, Liquid), by Application (Foliar Spray, Seed Treatment, Soil Treatment, Others (chemigation and fumigation), by Crop Type (Cereals & grains, Oilseeds & pulses, Fruits & vegetables, Other crops (turfs & ornamentals, forage, and plantation crops), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Drivers: Increasing Use of Crop Protection Solutions for High Yielding Crops to Boost Growth
Severe crop losses are due to the spread of pests, which, in turn, puts pressure on farmers to use crop protection chemicals. In addition, increasing demand for bio-pesticides due to increased consumer awareness of food & environmental safety will create opportunities for the Crop Protection Chemicals Market in the coming years. Increased investment in Research and Development (R&D) in the agricultural sector has led to continued product innovation, which is further driving the Crop Protection Chemicals Market growth. Changes in climatic conditions have a significant impact on crop production and pest susceptibility. This leads to a decrease in agricultural productivity. In addition, irregular rainfall in different parts of the world leads to an increase in the fungal population. Therefore, the reliability of crop protection chemicals has improved among farmers. According to the United Nations' median projection (2015a), the world's population will grow to around 8.5 billion in 2030. As a result of this increase in population, large tracts of agricultural land will be lost to the growing cities and roads. Hence, increase in population, climatic changes, the investment in Research and Development (R&D) are propelling the growth of the Crop Protection Chemicals Market.
Key Insights & Findings from the Report:
According to our primary respondents’ research, the Crop Protection Chemicals market is predicted to grow at a CAGR of roughly 2.8% during the forecast period.
The Crop Protection Chemicals market was estimated to be worth roughly USD 63.8 Billion in 2021 and is expected to reach USD 75.2 Billion by 2028; based on primary research.
On the basis of region, Asia Pacific is projected to dominate the worldwide Crop Protection Chemicals market.
Lack of Inspection of Corp Hampers the Growth of Market
Pesticides are of greater concern due to residue problems, toxicity, bioaccumulation, lipophilicity, and adverse health effects. Chemicals are absorbed by the human body by eating infected fruits and vegetables, leading to abnormalities and various disorders such as cancer etc. Therefore, continuous inspection of crops is required at the time of farming.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
Impact Assessment of COVID-19 Pandemic
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
Key Strategies Undertaken by Companies to Tackle COVID-19
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The Report on Crop Protection Chemicals Market Highlights:
Assessment of the market
Premium Insights
Competitive Landscape
COVID Impact Analysis
Historic Data, Estimates and Forecast
Company Profiles
Global and Regional Dynamics
Regional Analysis:
Asia Pacific Holds Largest Market Share
Asia Pacific is expected to dominate the growth of the Crop Protection Chemicals Market in 2021. Rising awareness about the benefits of crop protection chemicals among the cultivators and rising population are leading to the growth of the Crop Protection Chemicals Market in this region.
List of Prominent Players in the Crop Protection Chemicals Market:
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on "Crop Protection Chemicals Market Size, Share & Trends Analysis Report by Type (Herbicides, Insecticides, Fungicides Others (rodenticides, disinfectants), by Source (Natural, Biopesticide), by Form (Dry, Liquid), by Application (Foliar Spray, Seed Treatment, Soil Treatment, Others (chemigation and fumigation), by Crop Type (Cereals & grains, Oilseeds & pulses, Fruits & vegetables, Other crops (turfs & ornamentals, forage, and plantation crops), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/crop-protection-chemicals-market-407678
Recent Developments:
September 2019: Sumitomo Chemical Co. agreed with the proposals of Nufarm Ltd. which is the leading crop protection company in Australia. Sumitomo Chemical Co. agreed to buy four South American Subsidiaries of Nufam in Brazil, Argentina, Chile and Colombia. This acquisition is to be completed on the basis of permission from the shareholders.
March 2018: Syngenta acquired Strider. Syngenta decided to acquire Strinder which is a Brazilian Ag Tech company that provides Operations Management for farms.
Key questions answered in the report:
Which regional market will show the highest and rapid growth?
Which are the top five players of the Crop Protection Chemicals Market?
How will the Crop Protection Chemicals Market change in the upcoming six years?
Which application and product will take a lion’s share of the Crop Protection Chemicals Market?
What is the Crop Protection Chemicals market drivers and restrictions?
What will be the CAGR and size of the Crop Protection Chemicals Market throughout the forecast period?
This market titled “Crop Protection Chemicals Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Parameter
Details
Market Size Provided for Years
2016-2028
Base Year
2021
Historic Years
2016-2020
Forecast Years
2022-2028
Segments Covered
• Type
º Herbicides
º Insecticides
º Fungicides Others (Rodenticides)
º Disinfectants
º Fumigants
º Others (Rodenticides, Disinfectants, Fumigants, Plant Growth Regulators, and Mineral Oils)
• Source
º Natural
º Biopesticide
• Form
º Dry
º Liquid
• Application
º Foliar Spray
º Seed Treatment
º Soil Treatment
º Others (Chemigation and Fumigation)
• Crop Type
º Cereals & Grains
º Oilseeds & Pulses
º Fruits & Vegetables
º Other Crops (Turfs & Ornamentals, Forage, and Plantation Crops)
• Region
º North America
º Europe
º Asia Pacific
º Latin America
º Middle East & Africa
Region & Counties Covered
• North America • U.S. • Canada • Mexico
• Europe • U.K • France • Germany • Italy • Spain • Rest Of Europe
• Asia Pacific • China • Japan • India • South Korea • South East Asia • Rest Of Asia Pacific
• Latin America • Brazil • Argentina • Rest Of Latin America
• Middle East & Africa • GCC Countries • South Africa • Rest Of Middle East & Africa
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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