Wilmington, Delaware, United States, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global crop protection chemicals market size stood at US$ 57.9 Bn in 2020. The global industry is anticipated to be valued at US$ 106.7 Bn by 2031. Industry growth is projected at a CAGR of 5.7% between 2021 and 2031. Players in the global crop protection chemicals market are becoming more aware about the need for food safety. Manufacturers are expected to increase production of biopesticides as they are made organically with the least use of chemicals, which pose fewer risks to human health and help in environmental conservation.
Biopesticides, as well as other crop protection agents, are in high demand due to increase in organic farming practices and pest resistance. Use of non-toxic and bio-based pesticides is stimulated by sustainable agriculture techniques. The global market is growing as a result of changes in climatic conditions in different parts of the world.
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Modern agricultural practices are increasingly dependent on crop protection agents such as insecticides, fungicides, and herbicides. Companies in the global crop protection chemicals market are increasing their production capacity to accommodate changes in specific species of plants that are related to temperature and precipitation fluctuations. Demand for these chemicals is fueled by their increasing use in stored grains, flower gardens, and agricultural fields.
Key Findings of Market Report
- By product, in 2020, the herbicides segment led the global crop protection chemicals market. This is mostly attributable to rise in use of crop protection chemicals across a range of end-use sectors such as floriculture, open field & protective cultivation, and horticulture.
- In terms of dosage technique, the foliar segment led the global market in 2020. Usage of foliar fertilizer has several benefits, which makes these fertilizers attractive for various horticultural applications.
- Based on end-use, the open field & protective cultivation segment is anticipated to lead the global crop protection chemicals market between 2021 and 2031 and is expected to account for a large market share. Fungicides, insecticides, and herbicides are types of crop protection chemicals that have become integral to modern agricultural practices. They are increasingly used to safeguard agricultural land, grain storage facilities, and flower gardens, as well as to get rid of pests that spread harmful infectious illnesses.
Global Crop Protection Chemicals Market: Growth Drivers
- Use of crop protection chemicals is driven by constantly shifting nature of climatic conditions. Different parts of the earth have irregular rainfall, which could foster fungus populations. As a result, producers of crop protection chemicals are raising their production levels to aid farmers and stop fungal outbreaks. This factor is likely to drive market development in the near future.
- Producers of crop protection chemicals are placing more emphasis on biopesticides as standard insecticides are linked to health risks for growers and consumers after extended exposure. Use of biopesticides is spurred by rise in organic farming and sustainable agriculture methods combined with pest control. Rise in demand for biopesticides is estimated to drive industry growth.
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Global Crop Protection Chemicals Market: Regional Landscape
- Asia Pacific, North America, and Europe are anticipated to hold high market shares of the crop protection chemicals industry during the forecast period. Crop protection chemicals are promoted as an efficient and cost-effective technique in these regions in order to increase agricultural productivity by protecting crops against harmful pests and weeds.
Global Crop Protection Chemicals Market: Key Players
Some of the key market players are
- Jiangsu Changqing Agrochemical Co., Ltd
- Nissan Chemical Corporation
- Sumitomo Chemical Co., Ltd.
- Dhanuka Agritech Ltd.
- Nihon Nohyaku Co., Ltd.
- Aimco Pesticides Ltd.
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Global Crop Protection Chemicals Market: Segmentation
Product
- Herbicides
- Insecticides
- Fungicides
- Biopesticides
- Bactericides
- Others
Dosage Technique
- Soil
- Foliar
- Others
Crop
- Oilseeds & Pulses
- Cereals & Grains
- Fruits & Vegetables
- Others
End-use
- Open Field & Protective Cultivation
- Horticulture
- Floriculture
- Others
Sales Channel
- OEM
- Aftermarket
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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