The global crop protection chemicals market covers different types of chemical products that are used in the farms to safeguard the crops that pose potential damage to the growth of the plants. This market consists of crop protection chemicals or agrochemicals, seeds, and genetically modified (GM) crops. Since crop protection chemicals condition to be the most dominating segment in terms of product innovations, as well as market shares, this market is further classified as herbicides, insecticides, fungicides, bio-pesticides, and adjuvants.
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Pesticides include both synthetic pesticides and bio-based pesticides. These pesticides have a positive impact on the environment than their synthetic counterparts. Hence, such types of pesticides are expected to be one of the fastest growing segments in the near future. They are the largest market segment owing to their wide-spread use in bulk quantities. Synthetic pesticides are typically manufactured from petrochemical or inorganic raw materials. Similarly, adjuvants are essentially immunological or pharmacological agents used to modify or enhance the effect of other vaccines and drugs.
Benefits of Pest Control Chemicals
Helps to Increase Food Production: Around 40 percent of the world’s potential crop production is annually lost because of the adverse effects on the growth of weeds and crops due to pests and diseases. Thus, due to the invention of advanced crop protection technologies, there is an increase in crop yields and efficiency of food productions.
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Decrease in the Cost of Food: Due to the increased use of pesticides in the aim of improving crop yields, the crop protection chemicals technologies have caused a great impact on the cost of food. Without the crop protection chemicals, the rate of food production would decline.
Consumer Benefits: Crop protection chemicals help in reducing or eliminating pesticides from many fruits and vegetables. The elimination of insect damage allows the consumers to consume and purchase high-quality food products that are free of insect fragments.
Global Market Scenario
According to the study conducted by industry best research analysts, the global Industry Scenario, Trends, Industry Analysis, Size, Market Share of the crop protection chemicals market for the defined forecast 2011 – 2018 was worth USD 48.0 billion in the year 2011 and is expected to reach USD 71.3 billion by 2018, growing at a CAGR of 5.4% from 2011 to 2018.
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Herbicides formed the largest category in the overall crop protection market, contributing about USD 19.9 billion for the year 2011. The herbicides market is anticipated to experience both the highest growth rate and the highest volume traded in the next six years. The total expected growth rate of herbicides for the given forecast is calculated to be 6.1%, which is followed by fungicides with 5.6% of growth rate over the year 2011 to 2018.
The crop protection chemicals market is segregated in terms of geography and products.
Countries actively involved in the Crop Protection Chemicals Market
Geographically, regions like Eastern and Central Europe are majorly high in demand for crop protection chemicals along with other miscellaneous countries such as Ukraine, Russia, and Poland. Considering Asia Pacific, this region accounted for majority of the global crop protection market in 2011, and is expected to grow further until 2018. The Asia-Pacific crop protection industry is witnessing an increase in new product registrations and patents that prove to be one of the driving aspects of this market.
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While on the other hand, North America and Latin American markets are expected to grow at a higher rate too. Globally, the market is dominated by herbicides, accounting for over 40% of the total pesticide demand in 2011.
Key Market Players
Some of the key market players profiled in the report include Bayer, Syngenta, BASF, Dow Agroscience, Monsanto, Dupont, Makhteshim Agam, NuFarm, Sumotomo Chemicals and Arystya Lifescience.
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