Modernisation and Expansion of Commercial
Farming is Propelling the demand for Crop Protection Chemicals
The modernisation of agricultural
sector has increased the demand for chemicals in natural ecosystems. This has
resulted in increasing demand for crop protection chemicals over the forecast
period. Pesticides are being used in various agricultural land and urban green
spaces. According to National Centre for Biotechnology Information (NCBI), the
production of one third of agricultural products depends upon the use of
pesticides.
It is estimated that 78% loss of
fruit production, a 54% loss of vegetable production, and a 32% loss of grain
production is possible if pesticides are not used. As a result, pesticides play
an important role in lowering disease and raising agricultural yields across
the world. Additionally, the expansion of commercial farming is also driving
the demand for crop protection chemicals.
Extensive and diverse crop
production is providing traction to production of such chemicals. Additionally,
the adoption of advanced technologies such as data analytics, remote sensing
and precision agriculture is also creating lucrative opportunities for crop
protection chemicals market growth. The integration of crop protection
chemicals in these technological systems is anticipated to boost agricultural
yield.
Rising Population, Deteriorating Climate
and R&D is Boosting the Market Growth
The crop protection chemicals
market expansion is being driven by the increasing population which creates
need to grow more crops for consumption. The use of crop protection chemicals
is gaining demand since these chemicals protect the crops from pests, insects
and weed. This increased agricultural output is necessitating food security for
the growing population.
Besides, the deteriorating
climatic conditions have affected the agricultural productivity and
vulnerability to pest attacks. As a result, every shift in the climate causes
deviations in farming practises, resulting in a decrease in production. In
addition, unpredictable rains in many places increased the fungus population.
These factors have boosted
farmers' confidence on the products for effective pest protection, ultimately
boosting market expansion. Furthermore, research and development of novel crop
protection chemicals such as bioperstiscides and biofungicides is also driving
the market expansion.
New Product Launches and Collaborations are
Providing Traction to the Crop Protection Chemicals Market Development
Several market players are
focusing on research and development activities in order to develop products
that enhances their product portfolio. They are also implementing various
market strategies such as new produce launches, collaborations and mergers in
order to gain a competitive edge in the market.
· In January 2023, Bayer and Oerth Bio, an
agricultural biotech business had established a collaboration to create the
next generation of more sustainable crop protection solutions.
· In April 2022, BASF had launched the Exponus
insecticide chemical which can protect crops while increasing output. It is
approved for use on a variety of widely grown crops in the Oil Seeds, Pulses
and Vegetables segment to manage critical insect pests such as caterpillars and
thrips.
· December 2022, FMC Corporation, a leading global agricultural sciences company, and Micropep Technologies, a global leader in micro-peptide technology had announced a strategic collaboration to develop biological solutions to control destructive herbicide-resistant weeds that reduce crop yields.
Regulatory Standards and Availability of
Alternatives Poses Threat to the Market Growth
Increased use of chemicals
degrades the quality of soil while affecting the output. Users are exposed to
number of difficulties such as pesticide residue limits and other regulations
imposed by regulatory organisations in regions like Europe and North America in
order to reduce the environmental effect of pesticide use. As a result of this,
the production of crop protection chemicals has reduced.
The market is also being affected
by the availability and rising demand for alternatives such as bio-based
formulations and organic formulations for wider adoption in the global market.
These challenges are expected to impede the crop protection chemicals market in
the near future.
BASF SE, The Dow Chemical
Company, Dupont, Syngenta AG, Bayer Cropscience AG, FMC Corporation,
NufarmLimited, Chr. Hansen, Corteva Agriscience are some of the prominent market
players operating in the global crop protection chemicals market.
Increasing Awareness of Pest Management,
Presence of Major Market Participants and Rising Food Security Concerns are
Impacting the Market Expansion
Asia Pacific is anticipated to
hold a significant share in the crop protection chemicals market owing to the
rising awareness of these products among crop growers. Additionally, expansion
of high-value and export-oriented crop farming regions is expected to promote
market growth in Asia Pacific.
The use of pesticides in this
region can be attributed to the increasing population which is driving the
demand for more crops. Moreover, South
America is also witnessing growth in the crop protection chemicals market owing
to its large-scale consumption of pesticides in the region. Also, rising
commodity exports, increased cultivation area and advanced farm inputs such as
these protection solutions is driving the market growth in the region.
Crop protection chemicals market
is gaining traction in Europe region due to increasing awareness of integrated
pest management techniques, innovations in agricultural practises and the need
to maximise output per hectare. In addition, the presence of major market
participants such as Bayer and BASF SE in the region is also propelling the
market development.
Along with Europe, North America
is also likely to witness a substantial growth in the crop protection chemicals
market. This growth is influenced by declining arable land and food security.
Increasing adoption of innovative technology and advanced farming practices is
driving the growth in this region over the forecast period.
The report provides a detailed
overview of the crop protection chemicals market insights in regions including
North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle
East and Africa. The country-specific assessment for crop protection chemicals
market has been offered for all regional market share, along with forecasts,
market scope estimates, price point assessment, and impact analysis of
prominent countries and regions. Throughout this market research report, Y-o-Y growth
and CAGR estimates are also incorporated for every country and region, to provide
a detailed view of the crop protection chemicals market. These Y-o-Y
projections on regional and country-level markets brighten the political,
economic and business environment outlook, which are anticipated to have a
substantial impact on the growth of the crop protection chemicals market. Some
key country and region included in the crop protection chemicals market report
as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy, U.K.,
BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN, India,
Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Crop Protection Chemicals Market
Research Report Covers In-depth Analysis on:
·
Crop protection chemicals market segments
·
Crop protection chemicals market dynamics
·
Crop protection chemicals market value and share
analysis
·
Recent trends, restraints, opportunities in crop
protection chemicals market
·
Companies & competition involved crop
protection chemicals market
·
Latest technologies in crop protection chemicals
market
·
Supply chain and value chain crop protection
chemicals market
·
Crop protection chemicals market sales and
distribution strategies
Crop Protection Chemicals Market Growth
Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size in
terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Crop protection chemicals industry trends and developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on crop protection
chemicals market forecast by countries
·
Essential information to enhance market position
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