USD 75.8 billion
Report ID:
SQMIG15C2035 |
Region:
Global |
Published Date: November, 2024
Pages:
260
|Tables:
90
|Figures:
76
Crop Protection Chemicals Market size was valued at USD 79.5 Billion in 2023 and is poised to grow from USD 83.4 Billion in 2024 to USD 116.54 Billion by 2032, growing at a CAGR of 4.9% during the forecast period (2025-2032).
The global agricultural industry has been witnessing incredible advancements both in terms of farming methods as well as regulatory intervention to promote safer and sustainable practices in food production. Such involvement has prompted numerous agrochemical companies to invest in R&D to develop greener crop protection chemicals, and also move towards a sustainable farming ecosystem.
However, from a developmental perspective, the crop protection chemicals industry has been a witness to companies engaging in commercializing bio-based chemicals from plant, mineral, bacteria, and animal sources. One such arena in which the industry has made significant advancements is biopesticides. Today, there are over 1,500 registered biopesticides with over 300 active ingredients considered to have pesticide properties.
US Crop Protection Chemicals Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 75.8 billion
Largest Segment
cereals and grains
Fastest Growth
oilseeds and pulses
Growth Rate
4.9%
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Global Crop Protection Chemicals Market is segmented by Type, Origin, Form, Mode of Application, Crop Type, and region. Based on Type, the market is segmented into Herbicides, Insecticides, Fungicides & Bactericides, and Other Types. Based on Origin, the market is segmented into Synthetic, and Biopesticides. Based on Form, the market is segmented into Liquid, and Solid. Based on Mode of Application, the market is segmented into Foliar Spray, Seed Treatment, Soil Treatment, and Other Modes of Application. Based on Crop Type, the market is segmented into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Other Crop Types. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Crop Protection Chemicals Market Analysis by Application
The cereals and grains segment dominated the global crop protection chemicals market and is anticipated to maintain its dominance throughout the forecast period. This growth is attributable to an increase in cereal and grain consumption, in particular in North America and the Asia-Pacific. Examples of these foods include corn, rice, oats, wheat, sorghum, and barley.
Due to farmers' increased emphasis on oilseed production, the oilseeds and pulses category is also likely to develop throughout the projected period. The United States Department of Agriculture (USDA) reported that the revised Brazilian soybean crop for 2021 was responsible for a 1 million tonnes increase in worldwide oilseed production in 2020–2021.
Crop Protection Chemicals Market Analysis by Source
Due to the extensive use of these chemicals in developing nations in Asia, South America, Africa, and the Middle East, the synthetic chemicals segment commands a sizeable crop protection chemicals market share. The lower cost and pest-specific effectiveness of synthetic chemicals are primarily to blame for the rise in their use. On the other hand, as local, national, and regional governments promote environmentally friendly crop protection products, the demand for protection products with biological sources is rising.
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North America region dominated the crop protection chemicals market in 2023 and is expected to maintain its dominance throughout the forecast period. The region is home to the largest agricultural industry in the form of the U.S. and is characterized by high technological advancements in farming methods, and a robust regulatory framework influencing industry dynamics. The U.S. FDA, and EPA regulate the crop protection chemicals market in the U.S., which are empowered by the Federal Insecticide, Fungicide and Rodenticide Act (FIFRA) and Food Quality Protection Act (FQPA). Over the forecast period, the region is expected to grow at a CAGR of 7.5%. Growth should be driven by product development and advent of sustainable farming practices.
Asia Pacific is a region with tremendous potential. Emerging nations including India, Malaysia, Indonesia, China, the Philippines, and Thailand are located in the region. With the highest population density in the world, agriculture is essential to the region's socioeconomic growth and the preservation of food security. Economic growth has also made it possible for sophisticated agricultural technologies from the western half of the world to be introduced to the region.
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Crop Protection Chemicals Market Drivers
Growing Utilization of Crop Protection Products for High Yield is expected to drive the market growth
Crop Protection Chemicals Market Restraints
Increase in pests' resistance to crop pesticides may hinder market growth
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The majority of companies in crop protection chemicals industry are concentrating on enhancing their presence in developing as well as potential markets like Asia Pacific and Central and South America by forming strategic alliances and opening new facilities. For instance, Nufarm Ltd. created an Asia Pacific company in October 2023 by combining enterprises from Australia and New Zealand with those from Asia. Crop protection operations in Australia, New Zealand, and South-East Asia are included in the Asia Pacific business. This was developed to improve the manufacturing capabilities, supply chain efficiency, and regional potential. Leading companies in the crop protection chemicals market include:
Crop Protection Chemicals Market Top Player’s Company Profiles
Crop Protection Chemicals Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global crop protection chemicals market analysis, the need for crop protection chemicals in Europe is primarily driven by the expanding agricultural sector, improvements in farming methods, and a growing consciousness of healthy food. Due to rising population and shrinking acreage, there is a growing need to increase crop output and production efficiency, which is what primarily drives the market. Germany, France, the United Kingdom, and Italy were the main contributors to the expansion of the regional market in 2020. Yet, due to increased investments in the agricultural sector and improved water preservation techniques, nations including Spain, Bulgaria, and Romania, among others, have experienced fast expansion in agriculture.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 79.5 Billion |
Market size value in 2032 | USD 116.54 Billion |
Growth Rate | 4.9% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Crop Protection Chemicals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Crop Protection Chemicals Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Crop Protection Chemicals Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Crop Protection Chemicals Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG15C2035
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