The crop protection chemicals market is witnessing a growth due to the increasing demand for healthy and toxic free crops, growth of bio pesticides market and better productivity and timeliness and so on. The crop protection chemicals market is expected to grow at the CAGR of 7.5% during the forecast period of 2021-2030. The significantly rising need to provide food security to the world and to increase yield per hectare are major opportunities before the market. Although, there are many factors which drive the market but still this market has some restraints too, such as negative effects on human health, ban by regulatory authorities, resistance developed by some pests etc. and it is going to be a major key factor that hinders the growth of the market.
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On the basis of type, global crop protection market is segmented into synthetic crop protection chemicals and natural crop protection chemicals. Natural crop protection chemicals are expected to grow at highest CAGR of 17.1% during 2021-2030. Growth of bio pesticides market would be the key factor which drives the growth of natural crop protection chemicals market. A huge growth is being witnessed in the bio pesticides market due to innovations in bio-pesticides technology. A systematic and extensive research has contributed in the development of formulation techniques, the capacity to produce bio pesticides through large production, enhanced shelf life and storage capabilities, and enhance application methods. Rising investment in the natural crop protection chemicals, the synthetic chemicals have proven to be hazardous for the environment in a number of ways and hence there can be seen rising adoption and popularity of the natural ways to protect the crops. The natural crop protection chemicals are expected to the fastest growing segment attaining a CAGR of 17.1% in the forecast period.
Browse the full report Crop Protection Chemicals Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2030 at https://www.atlanticmarketresearch.com/crop-protection-chemicals-market
On the basis of geography, the market is segmented into South America, North America, Europe, Asia Pacific and ROW. The global crop protection market is dominated by South America region. Brazil and Mexico has the highest consumption of crop protection chemicals and contribute to more than 40% of the global consumption in 2020. Significant developments in these regions for bio based chemicals and reducing arable lands are the major drivers for the growth of crop protection market. There is an increasing population and solid growth in agricultural sector in APAC countries such as India and China that are helpful to drive the demand for the crop protection chemicals market in Asia pacific region.Asia pacific is expected to be the fastest growing region globally and is expected to grow at a CAGR of 9.3% during 2021-2029. This is due to large population and rising demand for food products grown by eco-friendly methods of agriculture. The APAC market is majorly dominated by Japan contributing to 26% of the revenue in 2020. Japan has always been a pioneer in the pesticides market. Another major country in the APAC region is Korea with 21% market share in 2020. The country has stringent regulations against the usage of chemical pesticides and has a law committed to reduce the applications of chemical pesticides.
Top 3 market players in this industry include Syngenta Bayer and BASF. Mergers, product launches, Innovation and expansion are some of the key strategies adopted by the market players. Partnership strategiesare enabling research and development of agricultural sustainable solutions and commercialization & development of new microbial products for the root zone. The market is consolidated with major players taking the maximum stake, however, biopesticides segment is significantly fragmented therefore, promising opportunities to more effective and green chemical crop protection manufacturers.
KEY MARKET MOVEMENTS
- The crop protection chemicals market is expected to grow at the CAGR of 7.5% during the forecast period of 2021-2030.
- Natural crop protection chemicals are expected to grow at highest CAGR of 17.1% during 2021-2030.
- The natural crop protection chemicals are expected to be the fastest-growing segment attaining a CAGR of 17.1% in the forecast period.
- Brazil and Mexico has the highest consumption of crop protection chemicals and contribute to more than 40% of the global consumption in 2020.
- Asia pacific is expected to be the fastest growing region globally and is expected to grow at a CAGR of 9.3% during 2021-2030.
- The APAC market is majorly dominated by Japan contributing to 26% of the revenue in 2020.
- Another major country in the APAC region is Korea with 21% market share in 2020.
- Top 3 market players in this industry include Syngenta Bayer and BASF.
- Mergers, product launches, Innovation and expansion are some of the key strategies adopted by the market players.
