The crop
protection chemicals market is projected to grow at a CAGR between of
4.0% to 6.0% from 2019 to 2024. The market is studied for insecticides,
herbicides, fungicides, and others. The report includes an extensive market
analysis for North America, Europe, Asia-Pacific, Latin America and Rest of the
World regions such as Africa and Middle-East. The major crop types considered
for the study are cereals & oil seeds, fruits & vegetables and others
(nursery crops, and turfs & ornamentals pants).
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The market
is majorly driven by increasing demand for food security by the increasing
population and heavy crop loss due to pest attacks. Innovation in farming
techniques and rising implementation of conventional farming practices is also
diving the market for crop protection chemicals. A huge market growth is
expected in the herbicides and insecticides segments of the crop protection
chemicals as the leading companies are investing huge sums of money in R&D
and introducing innovative products with better results and high effectiveness.
Among the
types of crop protection chemicals, herbicides held the largest market share in
2015, followed by insecticides fungicides. Herbicides are the highest demanded
crop protection chemicals due to high wed infestation mainly in cereals and
grains and also less availability of labor force to manually remove the harmful
weeds and herbs. Herbicides once spread on the field are very effective in
destroying the unwanted weeds hampering the growth of the crops and hence are
widely used all over the world.
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The crop
types considered in the crop protection chemicals market are cereals &
grains, oilseed & pulses, fruits & vegetables and others. The cereals
& grains segment dominated the market in 2016 followed by fruits &
vegetables and oilseed & pulses. The pest infestations are highest on cereals
& grains and thus using crop protection chemicals becomes inevitable.
The crop
protection chemicals market is studied for North America, Europe, Latin
America, Asia-Pacific ad RoW that includes South Africa, the Middle East, and
others. Latin America dominated the market with the largest market share
followed by Asia-Pacific and Europe. Brazil and Argentina have the largest
market share in the country-level market in Latin America region. Increasing
population and increasing food demand with limited arable land available for farming
has triggered the demand for crop protection chemicals in Latin America and
Asia-Pacific region.
The leading
players in this industry include BASF SE, DuPont, Monsanto, Syngenta Ag, The
Dow Chemical Company, Bayer CropScience Ag, Sumitomo, ADAMA Agricultural
Solutions, among others. These companies have established their position in the
market by offering competent crop protection chemical products. Along with
this, they are making their presence strong in the market though strategies
such as mergers, acquisitions, joint ventures and collaborations
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