crop protection chemicals market is expected to grow at a CAGR of around 4% from 2022-2028.
According to a new report published by UnivDatos Markets Insights, the crop protection chemicals market is expected to grow at a CAGR of around 4% from 2022-2028. The analysis has been segmented into the type (herbicides, insecticides, fungicides, and others); product type (synthetic and biopesticides); form (liquid and solid); mode of application (foliar spray, seed treatment, soil treatment, and others); crop type (cereals & grains, oilseeds & pulses, fruits & vegetables, and others); region/country.
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The crop protection chemicals market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the market. The market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository estimates the crop protection chemicals market at the global and regional levels.
Market Overview
Over the years, world witnessed the rise in population and is continuously growing creating greater demand for food. And the strain on land, which is a limited resource, has also grown. However, growth of population outpaced the land growth, thereby reducing the agricultural land per capita. For instance, according to the Our World in Data, the global agricultural land per capita has decreased to 0.6 hectare in 2018 compared to 1.4 hectare in 1961. Further, according to Food and Agricultural Organisation, the world population expected to increase 10 billion by 2050. This reduction in agricultural land coupled with rising population has increased the global focus on improving crop yield, thereby increased the interest of agrochemical manufacturers to produce more advance, productive, and less toxic to humans, crop protection chemicals. Around 40% of the world's annual crop loss are due to weeds, diseases, harmful insects and fungi, among others. Without the use of reliable crop protection chemicals, those losses could be much higher and threaten the stability of the world's food supply.
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COVID-19 Impact
The recent COVID-19 pandemic has disrupted the world and has brought a state of shock to the global economy. However, agriculture is among the few sector which is not affected significantly in the light of COVID-19. Although, supply chain uncertainites has a minor impact on the crop protection chemicals market.
The global crop protection chemicals market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the market is categorized into herbicides, insecticides, fungicides, and others. Among these, herbicides held the majority share of the market. Herbicides are commonly used to destroy unwanted plants or weeds in midst of crop. Since, the industry is witnessing farm labor shortage predominantly internationally, therefore, to remove the unwanted plants or weeds, herbicides are widely consumed in the agriculture sector.
· Based on crop type, the market is categorized into cereals & grains, oilseeds & pulses, fruits & vegetables, and others. Among these, fruits & vegetables accounted for prominent market position. This is because, the world is witnessing a shift in cropping pattern from food grains to fruits and vegetables as farmers are seeing more value gain under this segment, hence, the crop protection chemicals consumption has increased and is expected to further increase with the growth in horticulture.
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Crop Protection Chemicals Market Geographical Segmentation Includes:
· North America (The United States, Canada, and the Rest of North America)
· Europe (Germany, The United Kingdom, France, Italy, Spain, and the Rest of Europe)
· Asia-Pacific (China, India, Japan, and the Rest of Asia-Pacific)
· Rest of the World
The large base of the agriculture sector of the Asia-Pacific helped the region to obtain a dominating position in the market. Regional demand for crop protection chemicals due to high agriculture consumption is needed in order to feed the growing and already higher population. Further, improving per-capita income and disposable income is encouraging consumers to purchase large numbers of products, thereby increasing the demand for crop protection chemicals from the agriculture sector. Further, the governments of several regional countries are helping the industry in expansion by providing subsidies and creating favorable policies.
The major players targeting the market include
· Bayer AG
· Syngenta AG
· BASF SE
· Corteva Inc.
· FMC Corporation
· UPL Limited
· Nufarm Ltd.
· Sumitomo Chemical Co. Ltd.
· Jiangsu Yangnong Chemical Group Co. Ltd.
· Shandong Weifang Rainbow Chemical Co. Ltd.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the crop protection chemicals market?
• Which factors are influencing the crop protection chemicals market over the forecast period?
• What are the global challenges, threats, and risks in the crop protection chemicals market?
• Which factors are propelling and restraining the crop protection chemicals market?
• What are the demanding global regions of the crop protection chemicals market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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