Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Crop Protection Chemicals market.
Trusted Business Insights presents an updated and Latest Study on Crop Protection Chemicals Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Crop Protection Chemicals market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Crop Protection Chemicals Market Size, Share and Industry Analysis By Product Type (Herbicides, Insecticides, Fungicides), Origin (Synthetic Chemicals, Bio-based) and Regional Forecast 2020-2029-(Includes Business Impact of COVID-19)
The global crop protection chemicals market size valued at USD 50.62 billion in 2017, is projected to reach USD 68.82 billion by the end of 2025, exhibiting a CAGR of 3.73%.
We have updated the Crop Protection Chemicals Market with business impact analysis and disruption caused by COVID-19.
Inquire before buying
Global crop protection chemicals sales have marginally recovered in 2017 after a consecutive fall in 2015 and 2016. Agrochemical companies were able to achieve a marginal rise in their sales in 2017 despite the negative market sentiments such as adverse weather conditions in Europe, a decline in area under corn crop in the U.S., and reduced occurrence of pest and diseases in key countries of Asia Pacific. High level of crop protection chemicals products inventories in South American countries continued to weigh on the growth of the market in 2017.
The crop protection chemicals market is a highly consolidated industry with innovator companies accounting for a major share of the market. High level of competition, recent declines in revenues in the sector amid the prerequisite to enhance the efficiency of company operations (in terms of R&D, production, sales, market access, competition, etc.) factors led to the further consolidation of the crop protection chemicals industry wherein the big six companies have altered to big four namely Bayer-Monsanto, BASF, ChemChina-Syngenta, and DowDupont.
Increasing use of crop protection chemicals in developing countries and growing popularity of biological or bio-based crop protection chemical products are the key factors that are projected to drive the global crop protection chemicals during the forecast period from 2018 to 2025.
Industry players have incessant opportunities to develop and launch the new crop protection chemicals considering the diversified demand from the crop producers. The focused areas of research in recent years in the crop protection chemicals industry include the need for the compounds safer than older counterparts and demand for new molecules for control of pests that have developed resistance to the older compounds. Other key research and development (R&D) interest areas include – selectivity in their action to control target pests, for lower application rates, broad-spectrum nature to control diverse group of pests and diseases, and meet regulatory mandates of regional and local markets.
“”Insecticides to Emerge as Most Attractive Product Type due to Growing Demand in Asia Pacific””
Globally, insecticides segment is forecasted to be the most attractive product type segment in crop protection chemicals during the forecast period. Asia Pacific region is the largest market for insecticide products and growing awareness about the use of crop protection chemicals among the small and marginal crop producers in the region is forecasted to support the strong growth of the insecticides segment strongly. The rising area under cultivation of high-value and export-oriented crops is projected to support the growth of the insecticide segment majorly in the Asia Pacific region.
Bio-based or biological origin market share accounted for 6.6% in 2017, and is forecasted to witness strong growth due to factors such as the development of pest resistance to the pesticides, stringent regulatory policies, and the emergence of start-ups in developing bio-based products (as they require limited investment compared to synthetic chemicals).
Multinational companies are proactively exploring the opportunities in the bio-based segment by adopting strategies such as the acquisition of start-up companies and forming joint ventures to establish their presence in the market.
“”Seed treatment mode of application is projected to witness strong growth””
The conventional method of application of crop protection chemicals such as foliar and soil application segments accounts for large crop protection chemicals market share, but seed treatment has emerged as a robust growing method of application of crop protection chemicals in recent years.
The novel traits embedded in newly introduced seed varieties and steeply upward trajectory in the prices of seeds in the recent decades have necessitated farmers to protect the seeds to ensure appropriate germination of seedlings and productivity of the crops. Considering the cost, efficacy, and safety, seed treatments method of application as a better alternative to conventional/traditional pest control methods or can supplement other control measures to achieve satisfactory results in the field.
Key Market Drivers
Several companies in the agrochemical industry are involved in the R&D to introduce efficient seed treatment products having a combination of two or more active ingredients. Bayer CropScience accounts for a major share in the seed treatment market. Other key players include BASF, Syngenta, Nufarm, UPL, and Sumitomo Chemicals.
Asia Pacific Crop Protection Chemicals Market, 2017
“”Top five players account for major share in the global crop protection chemicals market””
Several companies in the industry are involved in the discovery, development, and launch of crop protection chemical products among which Bayer, Syngenta, BASF, and DowDupont are few of the key companies those account for a significant share in the global market. Recent merger and acquisition activities have significantly changed the ranking of the crop protection chemicals market share of the companies in the industry.
LIST OF KEY COMPANIES PROFILED
- Bayer CropScience
- Syngenta AG
- FMC Corporation
- Adama Agricultural Solutions
- Sumitomo Chemicals
- UPL Ltd.
- Rotam CropScience
- Other players
Crop protection products are used to reduce the losses caused by the incidence of pest and diseases to an acceptable level. According to the Royal Society of Chemicals, about 800 chemical active ingredients are registered for use in crop protection around the world which are broadly categorized in herbicides, fungicides, and insecticides groups.
The tremendous change in the crop production systems, shift in use of types of crop protection chemicals, increased awareness about field and post-harvest losses and required control measures, and improved infrastructure facilities for post-harvest management of crop production across the world were the key factors that contributed significantly in changing the dynamics of crop protection chemicals industry. Hence, understanding the market dynamics and investing in high-growth revenue pockets are vital components to draft strategies and to maintain sustainable growth in the industry.
The report provides qualitative and quantitative insights on the crop protection chemicals industry and detailed analysis of crop protection chemicals market size and growth rate for all possible segments in the market. The market is segmented by type, origin, mode of application, and crop type. On the basis of type, the global crop protection chemicals market report is categorized into herbicides, insecticides, fungicides, and others.
Based on the origin, the global crop protection chemicals industry is segmented into synthetic chemicals and bio-based crop protection chemicals. Foliar spray, soil treatment, seed treatment, and others are the mode applications covered in the study. Various crop types included in the report are cereals, oilseeds, fruits and vegetables, and other crops. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, South America, and Middle East & Africa. The regions are further categorized into countries.
Along with this, the report provides elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the product launches, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, patent analysis, and key industry trends.
- Synthetic Chemicals
By Mode of Application
- Foliar Spray
- Soil Treatment
- Seed Treatment
By Crop Type
- Fruits & Vegetables
- Other Crops
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)
- Asia Pacific (China, India, Australia, Japan, South Korea, Vietnam, Indonesia, and Rest of Asia Pacific)
- South America (Brazil, Argentina, Chile, Peru, and Rest of South America)
- Middle East & Africa (South Africa, Egypt, and Rest of MEA)
KEY INDUSTRY DEVELOPMENT
In May 2019, BASF has launched an innovative fungicide â€˜Seltimaâ€™ for rice crop in Thailand to support the efficient production of high-quality rice. The product contains special encapsulation technology to ensure a controlled release of active ingredient directly on the plant leaf surface.
In May 2019, Corteva Agriscience received the full registration for both herbicide products Agixa and Baxiga in Rice in Turkey. These products contain an active ingredient Rinskor (florpyrauxifen-benzyl) offers broad spectrum weed control in Rice crop fields
Quick Read Table of Contents of this Report @ Crop Protection Chemicals Market Size, Share and Industry Analysis By Product Type (Herbicides, Insecticides, Fungicides), Origin (Synthetic Chemicals, Bio-based) and Regional Forecast 2020-2029-(Includes Business Impact of COVID-19)
Trusted Business Insights
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580