Dublin, July 11, 2024 (GLOBE NEWSWIRE) -- The "Ivory Coast Crop Protection Chemicals Market (2024-2030) Growth, Analysis, Segmentation, Size, Value, Outlook, Revenue, Forecast, Trends, Share, Companies & Industry: Market Forecast By Origin, By Type, By Application and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
The crop protection chemical market in Ivory Coast has experienced significant growth in recent years, driven by the expanding agricultural sector. In addition to that, over the past twenty years, the country's agricultural industry has maintained an annual growth rate of more than 7%. It contributes approximately 22% to the gross domestic product and employs roughly half of the workforce.
Furthermore, agricultural goods, including commercial crops, constitute two-thirds of all exports, and approximately 75% of the country's land is suitable for cultivation. The trend toward the cultivation of cash crops is projected to bolster the demand for crop protection chemicals in the nation.
The Ivory Coast Crop Protection Chemical Market size is projected to grow at a CAGR of 7.1% during 2024-2030. Under the National Agricultural Investment Program (PNIA II) for the period spanning from 2017 to 2025, the Ivorian government aims to streamline the processing of agricultural raw materials, elevate the value chain of selected products, and modernize the agricultural sector by the year 2025. This initiative has been allocated an estimated budget of USD 19.8 million.
Furthermore, the government of Ivory Coast has developed a comprehensive 2024-2025 action plan through a collaborative and inclusive process. This plan revolves around the three main pillars of the Cocoa Forest Initiatives: forest protection and restoration, agroforestry and sustainable production, and social inclusion and community engagement. With supportive government policies and investments directed toward enhancing crop yields, the demand for crop protection chemicals in Ivory Coast is expected to witness a substantial surge in the coming years.
Additionally, farmers are benefiting from crop diversification efforts involving coffee, rubber, cotton, palm oil, and bananas, providing them with alternative income sources. Moreover, the use of crop protection chemicals is enhancing the productivity of these crops. As a result, Ivory Coast has emerged as the third-largest producer of natural rubber. These are some major factors securing the Ivory Coast Crop Protection Chemical Market growth.
Market Segmentation
Market Segmentation by Origin
Synthetic chemicals overwhelmingly commanded the highest revenue share in the Ivory Coast crop protection chemicals industry, largely owing to their extensive adoption in modern agriculture. These chemicals are designed to effectively combat pests, diseases, and weeds, thereby ensuring crop health and optimizing yields."
Market Segmentation by Type
In 2024, herbicides dominated the revenue share in Ivory Coast, as herbicides are specifically designed to target and control weeds, a significant agricultural challenge. Their cost-effectiveness compared to other weed control methods has been a key driver behind the growing demand for herbicides in the region.
Market Segmentation by Application
The crop protection chemicals market in Ivory Coast was predominantly influenced by commercial crops. The extensive cultivation of cashew and cocoa, geared towards profit generation, strongly impacts farmers' financial returns, driving substantial investments in crop protection chemicals to protect yields and safeguard investments."
Key Highlights of the Report
- Ivory Coast Crop Protection Chemical Market Overview
- Ivory Coast Crop Protection Chemical Market Outlook
- Ivory Coast Crop Protection Chemical Market Forecast
- Historical Data and Forecast of Ivory Coast Crop Protection Chemical Market Revenues, for the Period 2020-2030
- Historical Data and Forecast of Ivory Coast Crop Protection Chemical Market Revenues, By Origin, for the Period 2020-2030
- Historical Data and Forecast of Ivory Coast Crop Protection Chemical Market Revenues, By Type, for the Period 2020-2030
- Historical Data and Forecast of Ivory Coast Crop Protection Chemical Market Revenues, By Application, for the Period 2020-2030
- Industry Life Cycle
- Ivory Coast Crop Protection Chemical Market - Porter's Five Forces
- Market Drivers and Restraint
- Market Trends
- Market Opportunity Assessment
- Import Export Statistics
- Company Ranking
- Market Competitive Benchmarking
- Company Profiles
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Origin
- Synthetic
- Bio-Based
By Type
- Herbicide
- Insecticide
- Fungicide
- Nematicide
- Others (Rodenticides, Bio-Based pesticides, etc.)
By Application
- Commercial Crops
- Grains And Cereals
- Fruits And Vegetables
- Pulses And Oilseeds
Companies Profiled:
- Agricore Chemical Industry Co.
- BASF
- Bayer Global
- Callivoire
- Corteva Agriscience
- DVA Ivory Coast
- Eastsun Chemical Co.
- Jubaili Agrotec Group
- Syngenta Agro
- Zelnova Zeltia
For more information about this report visit https://www.researchandmarkets.com/r/smgo38
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
