Global Crop Protection Chemicals Market Expected to Reach US$83.5 Bn by 2025: Fairfield Market Research

LONDON, June 08, 2022 (GLOBE NEWSWIRE) -- Crop protection chemicals have captured the attention of the global agriculture sector. This is expected to create a large playfield of lucrative opportunities for manufacturers of these chemicals. The nascent shift in agricultural practices from traditional and natural methods of harvesting and farming to chemical-induced growth has shaped various prominent trends. A surplus in harvest ensures that agriculturists can capitalize on a larger market territory. Therefore, the heavy dependency of agriculturists on a harvest surplus has prompted them to use crop protection technologies and chemicals. The popularity of high-yielding varieties of seeds and crops is foreseen as an industrial advantage for the agricultural sector.

Population explosion is amongst the most pressing concerns for the agriculture sector, coercing the latter to resort to the use of chemicals and ingredients that can ensure optimal harvest. The total population of the world is expected to be 9.8 billion by 2050. The tabulated worth of the global crop protection chemicals market was US$64.3 Bn in 2018, and is expected to touch US$83.5 Bn by 2025. The global crop protection chemicals market is projected to grow at a CAGR of 5.3% over the period between 2021 and 2025.

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Herbicides to Hold Dominant Market Share for Crop Protection Chemicals

Research shows that, without the use of insecticides, pesticides, and herbicides, global crop yield could plummet to half of its current volume. Furthermore, herbicides are expected to clock in a major share of these revenues, mainly due to the undisputed relevance of these chemicals.

A total of 800 varieties of chemicals have been authorised and registered for use in crop protection. Herbicides inhibit the growth of weeds that can consume a major portion of sunlight, nutrients, and water from the plants.

Latin America to Witness Paced Growth in Sale of Crop Protection Chemicals; Asia Pacific Lags

The CAGR of the crop protection chemicals market in Latin America is estimated at 6.3% for the period ranging between 2021 and 2025. Prevention of infestations caused by fungi, weeds, and worms is the most prominent application of crop protection chemicals in Latin America. The market in Asia Pacific, however, could witness a setback due to enactment of regulatory laws pertaining to the use of crop protection chemicals in China.

Some of the prominent names existing in the global crop protection chemicals market are FMC, BASF SE, Bayer Crop Science, and Syngenta.

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