Crop Protection Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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Crop Protection Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : May, 2021 | Chemical & Materials

Report Digest


Introduction:

Crop protection chemicals refers to those chemicals that enables the farmers to improve crop yield and protect the crops from weeds and other harmful crop diseases .The three main classes of crop protection includes herbicides, insecticides and fungicides that provides efficiency to the crops. These chemicals are used in the agricultural sector  to kill or inhibit the growth of unwanted insects, mites, weeds, pathogenic fungi etc and enhances agricultural output ensuring adequate food availability for rising global population. Crop protection chemicals are useful in farming operations for several applications such as treatment of seeds and soil, refineries, foliar sprays, enhancing production etc.

The market is anticipated to witness substantial growth along with a steady CAGR rate through 2030 on account of rising population, concern for food security as well as growing need for improved crop yield  across the world.

Key Drivers:

Growing need to utilize crop protection chemicals to enhance crop yield for meeting the needs of global populations is accelerating the demand for such chemicals. As the population is rising, the need for food availability continues to rise with it leading to high demands for such chemicals.

Food security concerns among the people is facilitating the adoption of  new and improved techniques for effective cultivation of crops. Due to rising awareness regarding food safety and security, farmers are making investments in developing sustainable chemicals to prevent soil pollution ensuring production of  effective and safe  crops to the users which is likely to add progress to this market.

Rising soil pollution, presence of  pests, weeds, insects and other harmful diseases in the crops are contributing to the adoption of  crop protection chemicals creating a favourable opportunity for the manufacturers operating in this market to expand its production.

Key Restraints:

Residual problems associated with the use of pesticides is a major issue  hindering the progresss of this market. The excessive usage of pesticides on the crops are considered to be harmful for the human beings which enter the human body through the consumption of such fruits, vegetables and other crops causing health issues including cancers, birth effects, neurological disorders, reproductive problems, endocrine disruptors etc.    
Extensive usage of crop protection chemicals can cause degradation and damage to the microorganisms living in the soil  making the soil barren and unfertilized for future use.
The development of genetically modified crops are posing a challenge to the progress of this market as new genetically modified crops can be developed through gene modification providing natural ability of being pest resistant eliminating the need for such chemicals.

COVID-19 Impact:

The spread of Covid-19 pandemic created a negative  impact on the growth of crop protection chemicals. The manufacturers suffered from disruptions in their supply chains and distribution networks to supply pesticides across different countries. Closure of factories in lockdown resulted in massive shortages of raw materials and other ingredients essential for developing crop protection products hindering the growth of this market. However as the lockdown has been lifted up and situation has almost recovered with a record of decreasing covid cases in 2021, the demand for such chemicals is rising at a faster pace throughout the world. Leading corporations are expanding their production capacities to meet the rising demand from different regions. It is expected that the market will witness remarkable progress through 2030 owing to increased food requirements and technological advancements.

Region-Wise Forecast:

The market for crop protection chemicals is predicted to rise tremendously across the globe with rising demands from Asia Pacific and North America. Asia Pacific is projected to rule the global market through 2030 and register a notable CAGR rate on account of rising awareness regarding food security, enhanced crop yields as well as technological advancements. Rising population in China and India are creating high demands for food requirements including fruits, vegetables, plants and other crops to feed the population putting a force on the agricultural sector to increase the usage of such chemicals to enhance crop yield.

In addition to Asia Pacific, Canada and United States are predicted to experience substantial growth rates through the forecasted period due to high usage of these chemicals in their agricultural operations to meet the increased food needs. Presence of leading crop protection chemical manufacturers in the U.S. continue to add significant progress to this market. It is predicted that North America will occupy the second leading position with one third of market share.

Furthermore, Europe is currently facing a favourable period in this market with growing demands from Russia, Germany and France. Rising population and food requirements from Germany are creating potential opportunities for the key manufacturers operating in this market to focus on delivering more new and better crop protection insecticides, fungicides and herbicides to ensure food security. Further rising health consciousness and pollution of land continues to contribute towards immense progress.

Middle East and Africa is anticipated to grow at a stable CAGR over the predicted time frame. Fastest adoption of technological advancements by the farming communities in Bahrain, Iran and Saudi Arabia supported by government efforts is estimated to boost the progress.

Market Segmentation:

ByType:

  • Fungicides
  • Insecticides
  • Herbicides
  • Others

By Source:

  • Natural  
  • Biopesticide

By Form:

  • Dry
  • Liquid

By Crop Type:

  • Cereals and grains
  • Oilseeds and pulses
  • Fruits and vegetables
  • Others

By Mode of Application:

  • Soil treatment
  • Seed treatment
  • Foliar Spray
  • Refineries
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South America

Competitive Landscape:

The market for crop protection chemicals is highly fragmented with the presence of leading as well as new industrial players focusing on several effective strategies to develop new and improved crop protection products . The key players are investing in research and development programmes to maintain and strengthen their position.

Some of the eminent players in this market include BASF SE, Dow Chemical Corporation, Bioworks Incorporation, Arysta Lifesciences Corporation, Hansen, Sumitomo Chemical Corporation, Syngenta AG, Bayer CropScience Corporation, Corteva, FMC Corporation, Nufarm Limited, Rotam CropSciences Limited, Cheminova, PI Industries, UPL Limited etc. Product portfolio expansion, geographical expansion, joint ventures, collaborations, product upgradations, diversifications, market initiatives,and partnership agreements are some of the strategies incorporated by these manufacturers to combat the rising competition.

For instance, Crystal Crop Protection Limited announced its acquisition of three insecticide brands on 8th January, 2020 from US-based Corteva Agriscience which will help the company to generate an additional revenue of about Rs 50 crores annually. The three premium insecticide brands includes Dursban, Nurelle-D and Predator brand. The acquisition has resulted in providing a value addition to the company and is improving the global presence of the company.

In addition to that, BASF Corporation collaborated with Technalia on 5th November, 2020 in digitalization to accelerate the global research and development of new crop protection product contributing to a faster development of innovations that responds to farmers’ needs worldwide to control weeds, fungal diseases, insect pests in crops, yield protection, biodiversity etc. The two corporations jointly developed a technology for automated image recognition to determine the species and quantity of plants, pests and diseases in greenhouse and field trials. This new and efficient technology provides more reliable information from global trials as image recognition assessments can be done more frequently delivering more objective data as compared to traditional methods.

Furthermore, Sumitomo Corporation introduced a new fungicide called‘Kename’ containing indiflintm which is a novel active ingredient discovered by the company in 2020. This new addition is developed to control broad spectrum of diseases in cereals, vegetables and fruits. The ingredient is improving fungicidal actions, leaf penetration, systemic actions etc in comparison to other products available in the market.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?