Crop Protection Chemicals Market is Expected to Grow at a CAGR of 4.42% by 2030 | ChemAnalyst

2023-03-16 07:15:59 UTC | Chemicals & Advanced Materials
Crop Protection Chemicals Market is Expected to Grow at a CAGR of 4.42% by 2030 | ChemAnalyst
According to ChemAnalyst report, “Global Crop Protection Chemicals Market Analysis: Demand & Supply, Type, End-User Industries, Sales Channel, Regional Demand 2015-2030”, The Crop Protection Chemicals market is likely to experience a hike in demand in the forthcoming years and expected to grow at an expected CAGR of 4.42% during the forecast period. The surging demand for Crop Protection Chemicals from end-use industries like into Grains and Cereals, Pulses and Oilseeds, Commercial Crops, and Fruits and Vegetables is anticipated to augment the Crop Protection Chemicals market in the coming years.

Crop protection chemicals are the chemicals which are used to protect crops from various agents such as weeds, insects, birds etc. They are also used to increase crop yield and protecting crops from various diseases. Crop protection chemicals are of several types including insecticides, herbicides, fungicides, nematicides, and others. Due to their crop protection properties, crop protection chemicals find application in various kinds of crops including grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, and others. Herbicides are crop protection chemicals used to eradicate undesirable plants without endangering the plantation, hence boosting agricultural output. They are the most commonly used kind of crop protection chemicals.

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Crop protection chemicals necessary for protecting crops against many diseases and agents. This paves the way for crop protection chemicals to find application in various crops requiring high protection. Surging population coupled with the advancement in farming techniques such as precision farming, smart plantation etc. added to the increasing demand of biobased crop protection chemicals is projected to drive the demand of crop protection chemicals for the forecast period. Furthermore, declining arable land and the need for augmented agricultural productivity worldwide are other factors responsible for demand growth.

The global Crop Protection Chemicals market is segmented based on type, end-use, sales channel, and region. Based on type, the Crop protection chemicals market is divided into insecticides, herbicides, fungicides, nematicides, and others. Based on the end-user industry, the global Crop Protection Chemicals market is segmented into Grains and Cereals, Pulses and Oilseeds, Commercial Crops, Fruits and Vegetables, and Others. Among these, Grains and Cereals are majorly dominating the global Crop Protection Chemicals market. This industry held a market share of approximately 35% of the total demand in 2022. To ensure food safety and adequate food quality, it is anticipated that the demand for these chemicals will further rise in the forecast period.

Based on region, Asia Pacific is dominating the Global Crop Protection Chemicals market. It is anticipated that Asia Pacific will maintain its dominance in forthcoming years owing to the continuous rise in population and food demand thus propelling the demand for pesticides and insecticides in the agriculture sector, especially in soil-rich countries like India. Moreover, Asia Pacific also leads in terms of producing Crop Protection Chemicals. One of the biggest producers of active components and pesticide goods is China.

“Global Crop Protection Chemicals Market Analysis: Demand & Supply, Type, End-User Industries, Sales Channel, Regional Demand 2015-2030”, Major players for crop protection chemicals globally include Bayer CropScience AG, Nippon Soda, ChemiChina Corporation, Marrone Bio Innovations Inc., BASF SE, Ishihara Sangyo Kaisha Ltd, Corteva Agriscience, Bioworks Inc., UPL Limited, ISAGRO Spa, FMC Corporation, American Vanguard Corporation.

“Being linked to the agriculture industry, the crop protection chemicals industry has shown a robust growth alongside growing population and changing consumer preference in the past years and is anticipated to further surge in the forecast period. China serves as the key player with sufficiently installed capacities. The increasing demand for green and organic crop protection chemicals globally might pose a challenge for the crop protection chemicals during the forecast period. With new competitors emerging across the Asian crop protection chemicals market, players anticipate that there will be sufficient supply demand gaps in future. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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