- Adoption of sustainable farming methods and agricultural practices to propel demand for biopesticides in crop protection chemicals market
- Demand for herbicides to generate sizable revenues during the forecast period; substantial use of these in end-use applications in Asia Pacific to propel revenue growth
ALBANY, N.Y., Jan. 25, 2022 /PRNewswire/ -- Herbicides, insecticides, fungicides, and bactericides are gathering traction for use in crop protection. New formulations have helped agriculturists fight against fluctuations in climatic conditions and bolster crop productivity eventually. Advancements in farming techniques have bolstered the use of crop protection chemicals in open field & protective cultivation, and horticulture. The valuation of the global crop protection chemicals market is projected to reach US$ 106.7 Bn by 2031.
The growing trend of insect pest management in organic farming systems has propelled the adoption of bio-based and non-toxic insecticides, thereby fueling sales of products in the market. Further, the need for safer and less toxic pesticides is propelling the demand for biopesticides, observes analysts in a TMR study on the crop protection chemicals market.
Regional norms and international regulations pertaining to health impacts of agrochemicals have led to the introduction of safe and non-toxic formulations, which has enriched the crop protection chemicals market landscape. Cases in point are stringent safety standards put forth by the Organisation for Economic Co-operation and Development (OECD) and Environmental Protection Agency (EPA) to promote discerning use of agrochemicals in crop protection application.
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Key Findings of Crop Protection Chemicals Market Study
Application in Open Field Cultivation and Horticulture for Protection of Grain Crops Generate Sales: Products in the crop protection chemicals market have proved to be effective in protecting cereals and crops against a range of pests and insects. Especially in open field cultivation and horticulture, the demand has been substantive. Furthermore, rise in demand for herbicides for maximizing crop productivity in row-crop farming is enriching the sales prospects, assert the authors of the study on the crop protection chemicals market. Herbicides are extensively being used in suburban and urban areas for improving harvesting.
Sustainable Agricultural Practices for Cereals & Grains Crops to Propel Innovation: The adoption of sustainable farming practices is spurring agrochemical companies to unveil pesticides made with natural materials. The trend of adopting crop protection chemicals characterized by targeted action on insects and pests has thus opened up new revenue streams. Of note, biopesticides are generating massive interest among them due to their non-toxic mechanisms in pest control, finds a market study scrutinizing lucrative avenues for crop protection chemicals producers.
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Crop Protection Chemicals Market: Key Drivers
The changing nature of crop systems is spurring the constant need for advancements in crop protection chemicals to meet food security concerns worldwide, and thus is bolstering the market prospects.
The increasing trend of modern methods of farming in urban and suburban areas has enriched the value chain of the crop protection chemicals market.
Crop Protection Chemicals Market: Regional Growth Dynamics
Asia Pacific holds a sizable share of the global crop protection chemicals market and the market valuation is projected to expand at CAGR exceeding 7% during the forecast period (2021–2031). Widespread adoption of crop protection chemicals in open field & protective cultivation has spurred revenue prospects. The TMR study finds that China is a highly lucrative market.
Europe is also a prominent crop protection chemicals market. Germany has contributed a major share of the Europe market in 2020. Rise in use of crop protection chemicals for floriculture and integrated pest management for cereals and crop grains will propel revenue generation in the near future.
Crop Protection Chemicals Market: Key Players
Some of the key players in the market are Nissan Chemical Corporation, Dhanuka Agritech Ltd., Bharat Rasayan Ltd., China National Chemical Corporation, Nissan Chemical Corporation, Meghmani Organics Ltd., Sumitomo Chemical Co., Ltd., FMC Corporation, Corteva, and Covestro AG.
Global Crop Protection Chemicals Market: Segmentation
Crop Protection Chemicals Market, by Product
Others (including Nematicides and Molluscicides)
Crop Protection Chemicals Market, by Dosage Technique
Others (including Deep Plowing and Crop Rotation)
Crop Protection Chemicals Market, by Crop
Oilseeds & Pulses
Cereals & Grains
Fruits & Vegetables
Others (including Turf and Ornamentals)
Crop Protection Chemicals Market, by End-use
Open Field & Protective Cultivation
(including Terrace Farming and Arboriculture)
Crop Protection Chemicals Market, by Region
Middle East & Africa
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