London, Oct. 14, 2022 (GLOBE NEWSWIRE) -- Global crop protection chemicals market is all set to witness a considerable uptick in sales, majorly attributing to the continued preference for herbicides. With growing influence of rapidly penetrating integrated pest management (IPM), and sustainable farming practices, a new study of Fairfield Market Research expects the market to exhibit around 5.3% between 2021 and 2025. A wealth of opportunities is likely to emerge with rising popularity of bio-based crop protection solutions, says the report, projecting the market value to rise up from US$64.3 Bn recorded in 2020. In addition to greater efficacy, and the economical affordability primarily accounts for the surging popularity of sustainable farming practices. The report suggests that the scenario will prevail on the back of the severing concerns around food security, and aggravating need for amplified agricultural yield. Rising effort toward commercialization of biopesticides is receiving strong tailwinds from the augmenting investments in the same. This according to the report will favour the expansion of bio-based crop protection solutions in global crop protection chemicals market.
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Key Research Insights
- Global crop protection chemicals market value is poised to reach past US$83.5 Bn through 2025 end
- Grains and cereals account for the maximum revenue generation in global market with over 1/3rd share in market revenue
- Herbicides account for more than 50% share in the global crop protection chemicals market valuation
Insights into Segmental Analysis
Herbicides reportedly remain dominant in sales when compared to the other competitor segments, including insecticides, and fungicides. After the year 2018, herbicides continue to account for more than half the total market revenue. Although the conventional herbicide products were questionable for their potentially negative impact on both the crop acreage and yield, a host of innovative herbicide products are currently available on the market that are best known for their selective action on crops. These herbicides ensure the least-impacted plant growth, which is likely to uphold their ballooning demand in global crop protection chemicals market. On the other side, fungicides also represent a significant market segment as they remain among the sought-after solutions for some of the most popular staples like rice, wheat, soybean, corn, and fruits. The analysis of crop protection chemicals market based on the crop type reveals that the grains and cereals continue to represent the leading consumer category, especially wheat, rice, and corn, and is expected to account for more than a third of the total market valuation throughout the projection period. Fruits and vegetables on the other side represent a highly lucrative segment.
Key Report Highlights
- Crop protection chemicals market continues to face limitations due to low per capita consumption, and the bans on pesticides across different parts of the world
- The bio-based category holds massive potential and will contribute heavily toward the growth of market in the long run
- Latin America, and Asia Pacific will maintain a collective share of more than half the overall market valuation by 2025 end
Insights into Regional Analysis
The report provides detailed regional analysis that reveals the sustained top positioning of Latin America in global crop protection chemicals market. While Asia Pacific has also been touted as an equally important market for most of the key companies in the crop protection chemicals space, Latin America will continue to be the most prominent market with an anticipated growth of around 6% during 2021 – 2025. On the other hand, Asia Pacific will most likely experience a notable setback due to China’s market restructuring efforts. As far as the developed regional markets are concerned, the western world has been reaping the early mover advantage in the organic crop protection segment. Rocketing investments in bio-based, and organic crop protection products are upholding the noteworthy global positioning of North America, and Europe throughout the period of forecast.
Global Crop Protection Chemicals Market Leaders
Bayer Crop Science, BASF SE, Syngenta Crop Protection LLC, FMC Corporation, Sumitomo Chemical Co., Ltd., Corteva, Inc., and ADAMA Ltd. are some of the leading companies driving competition in global crop protection chemicals market. Several players continue to focus on NPDs in addition to licensing, and strategic collaborations. The competition landscape remains fairly competitive and is likely to witness mega-mergers and restructuring of major brands in the next few years, projects the report.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2020 | |
| Forecast Year | 2021 – 2025 | |
| Market Size in 2020 | US$64.3 Bn | |
| Estimated Market Size in 2025 | US$83.5 Bn | |
| CAGR | 5.3% | |
| Key Players | Bayer Crop Science, BASF SE, Syngenta Crop Protection LLC, FMC Corporation, Sumitomo Chemical Co., Ltd., Corteva, Inc., and ADAMA Ltd. | |
Market Segmentation
Product Coverage
- Herbicides
- Insecticides
- Fungicides
- Misc. (Rodenticides, etc.)
Crop Coverage
- Grains & Cereals
- Pulses and Oilseeds
- Fruits and Vegetables
- Misc. (Plantation Crops, etc.)
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- Bayer Cropscience
- Syngenta
- Corteva
- BASF SE
- FMC
- UPL
- ADAMA
- Sumitomo Chemical
- Nufarm
- Jiangsu Yangong
- Rainbow Chemical
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Technology-wise Analysis
- Application-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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