Impact of COVID-19 on Economy, Industry and Company The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
"Global Crop Protection Chemicals Market was Valued at US$ 58.07 Bn in 2019 and it is Expected to Reach More than US$ 91.64 Bn by 2028, Likely to Grow with the CAGR of 5.20 % During the Forecast Period."
Crop protection practice is applied to protect the crop from weeds, plant diseases, and other pests. The Crop protection chemicals market growth is primarily driven by the rising need for food for the growing population, advancement in farming practices and heavy crop loss due to pest infestations. In addition, the increasing demand for biopesticides along with increasing acceptance for Integrated Pest Management (IPM) by the farmers and high opportunities in developing countries are the major factors driving the Crop protection chemicals market.
The Increasing Population Demand For Food Grains and the Declining Cultivable Land Fuelled the Demand for Crop Protection Chemicals
Urbanization will continue at an accelerated pace, and about 70% of the world’s population will be urban as compared to 49 percent today. Furthermore, the decline in agricultural land is expected to boost the demand for Crop Protection Chemicals over the next few years. In order to feed this larger urban population, food production must increase by 70%. Annual cereal production will need to rise to about 3 billion tons from 2.1 billion today to serve this population.
The Technological Advancement in Pest Management to Drive the Demand for Crop Protection Chemicals
The evolving technology and advancements in agricultural chemistry have enabled farmers to adopt effective pest management. The increasing research and development (R&D) in the field of bio-pesticides in order to compete with organic farming and integrated pest management (IPM) is one of the most recent trends in the global agrochemicals market. Integrated Pest Management (IPM) is a sustainable approach to pest management by a combination of biological, mechanical, physical, and chemical methods. The new opportunities are being created for natural crop protection chemical products with the increasing importance of IPM all over the world.
The Stringent government regulations imposed by the EU and EPA on the use of harmful chemicals for agricultural applications are expected to hamper the growth of Crop Protection Chemicals.
The Insecticide Segment Is Expected To Dominate the Crop Protection Chemicals Market During the Forecast Period
The Insecticide segment constituted a major share of the Crop Protection Chemicals market in 2019 and it is projected to grow at a significant CAGR of above 6.0% % during the forecast period. Insecticides are largely used across the cultivation of staple crops, due to them being prone to the risk of insect infestation. The evolution of integrated pest management practices across industrialized economies has drastically reduced the dependence of farmers on insecticides. However, their demand is understood to be strong across the developing world. Moreover, Insecticide accounted for over 20% % of the European crop protection chemicals market in 2019 and is expected to grow at a significant rate over the forecast period.
Fruits and Vegetable Segment Held a Significant Share In Global Crop Protection Chemicals Market in 2019
The fruits and vegetable segment is anticipated to register a significant share in the Crop Protection Chemicals market. Crop protection chemicals demand for fruits and vegetables is expected to grow at a CAGR of xx% over the forecast period, owing to rising demand from the food processing industry. Changing consumer dietary habits, which demand healthy and good quality fruits and vegetables are expected to propel demand.
The Biopesticides Segment Is Expected to Witness Highest Growth in the Global Crop Protection Chemicals Market Across the Globe
The BioPesticides segment is projected to grow at the highest rate in the Crop Protection Chemicals market during the forecast period owing to the rising awareness among the farmers, stringent regulations in the US and Europe along with the Increasing government initiatives to promote the use of biopesticides across the globe are driving the adoption of biopesticides across the globe.The Market in North America Expected To Hold a Largest Share in Crop Protection Chemicals Market over the Forecast Period
North America Held Largest Share in Global Crop Protection Chemicals Market In 2019
North America is anticipated to hold above XX% over the forecast period and is expected to grow at CAGR 5.0 %. Growth should be driven by product development and the advent of sustainable farming practices.
North America region is home to the largest agricultural industry in the form of the U.S. and is characterized by high technological advancements in farming methods, The U.S. Food and Drug Administration (FDA) and Environmental Protection Agency (EPA) regulate the market in the U.S., which are empowered by the Federal Insecticide, Fungicide and Rodenticide Act (FIFRA) and Food Quality Protection Act (FQPA). Over the forecast period,
While, South America accounted for the largest market share in the market, followed by Asia-Pacific and Europe. Brazil and Argentina constituted the largest country-level markets in the South American region in 2015. Increasing awareness about the benefits of crop protection chemicals among the cultivators and rising population is driving to the growth of the market in this region.
Some of the key players in the global Crop Protection Chemicals market are Marrone Bio Innovations, BASF SE, Nufarm Ltd, FMC Corp, BioWorks, DuPont, Monsanto, Natural Industries, Dow AgroSciences, Syngenta AG, Sumitomo Chemical, Novozymes A/S, and Valent Biosciences.
Crop Protection Chemicals Market Key Segments:
Crop Protection Chemicals Market, By Origin
- Bio pesticides
Crop Protection Chemicals Market, By Type
- Others (which include acaricides, nematicides, rodenticides, disinfectants, fumigants)
Crop Protection Chemicals Market, By Crop Type
- Cereals & oilseeds
- Fruits & vegetables
- Others (which include sugarcane, plantation crops, and turfs & ornamentals)
Crop Protection Chemicals Market, By Mode of Application
- Foliar spray
- Seed treatment
- Soil treatment
Crop Protection Chemicals Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America