Crop Protection Chemicals Market Revenues to Reach USD 80.35 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence
Hyderabad, July 20, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Crop Protection Chemicals Market Report (2023-2028)," the market is estimated at USD 66.04 billion in 2023. It is expected to register a CAGR of 4% during the forecast period.
Crop protection chemicals are used to prevent crop damage from insects and pests. They include pesticides, insecticides, and herbicides, which can be synthetic or biological. There are around 800 approved chemical compounds for crop protection in the world. Increased organic farming is expected to drive the market for bio-based pesticides in the coming years.
*Report Summary:*
*Report Attribute* *Details*
Market Size (2023) USD 66.04 billion
Market Size (2028) USD 80.35 billion
CAGR (2023-2028) 4%
Study Period 2018-2028
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Forecast Units Value (USD billion)
Report Scope Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market Drivers Population growth and the need for food security.
Need for increased agricultural productivity.
*Who are the Top Companies in the Global Crop Protection Chemicals Market?*
The crop protection chemical market is highly consolidated. The top players in the market (Bayer Crop Science, Syngenta International AG, BASF SE, Corteva AgriScience, and Sumitomo Chemical Co. Ltd) hold the major share of the market. These companies are engaging in product launches, mergers and acquisitions, and partnerships while investing in innovations, collaborations, and expansions to increase their market share.
The significant players in the global crop protection chemicals market in 2023 are,
· Bayer CropScience AG
· ChemChina Corporation
· BASF SE
· Corteva Agriscience
· UPL Limited
· FMC Corporation
· Nufarm Ltd
· Sumitomo Chemicals
· American Vanguard Corporation
· ISAGRO Spa
· Bioworks Inc.
· Ishihara Sangyo Kaisha Ltd
· Marrone Bio Innovations Inc.
· Syngenta International AG
*Other Reports That Might Be of Your Interest:*
· United Kingdom Crop Protection Chemicals Market Report - The UK crop protection chemicals market size is expected to grow from USD 852.25 million in 2023 to USD 1.04 billion by 2028, at a CAGR of 4.20% during the forecast period (2023-2028).
· Russia Crop Protection Chemicals Market Report - The Russian crop protection chemicals market size is expected to grow from USD 1.70 billion in 2023 to USD 2.17 billion by 2028, at a CAGR of 5% during the forecast period (2023-2028).
*Key Highlights from the **Global Crop Protection Chemicals Market **Report**:*
*Growing Popularity of Organic Farming*
· The need for food sufficiency while ensuring safe farming practices is driving the growth of the organic food industry globally over the past three decades.
· Biopesticides, which are chemical-free, are widely used in organic farming. Biopesticides improve crop yield and positively affect harvest grade, sizing, shelf life, and nutritional quality.
· The European Union is proposing regulations to reduce the use of chemical pesticides in farming, encouraging farmers to adopt bio-pesticides. Other government bodies worldwide are initiating similar guidelines and regulations to promote sustainable farming.
*High Requirements from Asia-Pacific*
· Asia-Pacific is the largest consuming region of crop protection chemicals in the world. China, Japan, India, and Australia account for about 80% of the market.
· The region is witnessing a gradual shift toward eco-friendly and natural insecticides due to rising awareness of the health impact of chemical insecticides.
· The younger generation in the region prefers organic products. The demand for organic baby food is significantly rising. Increased demand for food grains, limited arable land, export growth, and public awareness are some of the other factors influencing the market in the region.
*What are the Latest Developments in the Global Crop Protection Chemicals Market?*
· In May 2022, Syngenta launched a seed treatment named Victrato. The product targets nematodes and significant soil-borne fungi, improving the quality and productivity of various crops like soybeans, corn, cereals, cotton, and rice.
· In May 2021, Sinochem and ChemChina (China's two centrally administered, state-owned chemical manufacturers) were merged. The new chemical giant will operate in various sectors, like life sciences, material science, basic chemicals, environmental science, rubber and tires, machinery and equipment, and industrial finance.
*Mordor Intelligence has Segmented the Global Crop Protection Chemicals Market Based on Origin, Type, Application, and Geography.*
· By Origin (Market Size and Forecast based on Value (USD billion), 2018-2028)
· Synthetic
· Bio-based
· By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
· Fungicide
· Insecticide
· Nematicide
· Herbicide
· Other Types
· By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
· Grains and Cereals
· Pulses and Oilseeds
· Fruits and Vegetables
· Commercial Crops
· Other Applications
· By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
· 5.4.1 North America
· 5.4.1.1 United States
· 5.4.1.2 Canada
· 5.4.1.3 Mexico
· 5.4.1.4 Rest of North America
· 5.4.2 Europe
· 5.4.2.1 Spain
· 5.4.2.2 United Kingdom
· 5.4.2.3 France
· 5.4.2.4 Germany
· 5.4.2.5 Russia
· 5.4.2.6 Italy
· 5.4.2.7 Rest of Europe
· 5.4.3 Asia-Pacific
· 5.4.3.1 China
· 5.4.3.2 India
· 5.4.3.3 Japan
· 5.4.3.4 Australia
· 5.4.3.5 Rest of Asia-Pacific
· 5.4.4 South America
· 5.4.4.1 Brazil
· 5.4.4.2 Argentina
· 5.4.4.3 Rest of South America
· 5.4.5 Middle East & Africa
· 5.4.5.1 Egypt
· 5.4.5.2 South Africa
· 5.4.5.3 Rest of Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Crop Protection Chemicals Market Report (2023-2028).
*Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:*
· India Crop Protection Chemicals Market Report - The Indian crop protection chemicals market is projected to record a CAGR of 4.6% over the next five years.
· Europe Crop Protection Chemicals Market Report - The European crop protection chemicals market size is expected to grow from USD 24.64 billion in 2023 to USD 31.60 billion by 2028, at a CAGR of 5.10% during the forecast period (2023-2028).
· Canada Crop Protection Chemicals Market Report - The Canadian crop protection chemicals market size is estimated at USD 2.07 billion in 2023. It is expected to reach USD 2.47 billion by 2028, at a CAGR of 3.60% during the forecast period (2023-2028).
*About Mordor Intelligence:*
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
*Attachment*
· Crop Protection Chemicals Market - Mordor Intelligence
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