Crop Protection Chemicals Market size, share & Forecast 2028

 

Food

The Crop Protection Chemicals Market was valued around USD 59 billion in 2020 and is predicted to grow at a CAGR of 3.3% during the forecast period (2021-2028).

The factors driving growth of the Crop Protection Chemicals Market includes rising prevalence of plant and pest diseases around the world, growing concerns related to malnutrition, increasing consumption of food, development of bio-based chemicals and improvements in the living standards. Crop protection chemicals are cost-effective, helps farmers to enhance productivity of the crop, and maintains consistent yields from year to year, are some of the features pushing the market’s growth. Moreover, increasing adoption of integrated pest management solutions, subsidies offered by Governments, rise in the launch of new products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic partnerships between enterprises and growing population growth rates, are further contributing towards the market growth.

However, growth of the Crop Protection Chemicals Market is hindered attributed to resistance of pests towards some crop protection chemicals. 

The prominent players operating in the market are FMC Corporation, Nufarm Canada, ADAMA India Private Limited, BASF SE, DOW Chemical Company, DuPont, Verdesian LifeSciences, Sumitomo Chemical Co., Ltd., Syngenta, and Bayer AG, among others.  

Based on Type, the Herbicides segment is predicted to grow at a significant CAGR during the forecast period

Herbicides are increasingly used to control the growth of weed, reduces soil erosion, and enhances soil fertility, are some of the features pushing the segment’s growth. 

Based on Application, the Foliar segment is projected to expand at a remarkable CAGR over the forecast period

Foliar sprays are increasingly used to spray to herbicides to prevent crops from insect attacks, which is propelling growth of the segment.

Based on Region, the Asia-Pacific region is projected to increase at a robust CAGR

Presence of the leading players such as Sumitomo Chemical Co., Ltd., growing consumption of food across India, China and Vietnam, increasing cases of malnutrition, rapid urbanization, increasing per capita incomes and high population growth rates are boosting the Asia-Pacific market growth.

 

Key Developments

  • In 2020, BASF SE and TECNALIA partnered to increase their R&D of new crop protection products.

 

Market Segmentation

Segmentation by Type

  • Herbicides
  • Insecticides
  • Fungicides & Bactericides
  • Others

Segmentation by Origin

  • Synthetic
  • Biopesticides

Segmentation by Mode of Application

  • Foliar
  • Seed Treatment
  • Soil Treatment
  • Others

Segmentation by Crop Type

  • Cereals & Grains
  • Oilseeds & Pulses
  • Fruits & Vegetables
  • Others

Segmentation by Form

  • Liquid
  • Solid

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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