Insights on the Crop Protection Chemicals Global Market to 2026 - Key Drivers and Restraints - ResearchAndMarkets.com

The "Crop Protection Chemicals Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.

The global crop protection chemical market is projected to grow at a CAGR of 5.42% to reach a market size of US$101.640 billion in 2026 from US$70.239 billion in 2019.

The outbreak of COVID-19 has impacted global trade which has led to socio-economic disruptions around the world. Due to lockdown restrictions across various countries, the production and distribution of agrochemicals have been disrupted. This widened the gap between demand and supply. It is estimated that post-COVID when the economic conditions are back to normal the demand for crop protection chemicals will rise.

Market Drivers

  • There has been a growing demand for food security across the globe and strict government regulations about it will drive the growth in the market of crop protection chemicals. Heavy crop loss due to pest attacks pressurizes farmers to use crop protection chemicals further propelling its market growth. Growing demand for biopesticides owing to rising consumer awareness regarding food and environmental safety will create opportunities for crop protection chemicals' manufacturers in years ahead.
  • The rising investments in the R&D and the agricultural sector have led to continuous product innovations, which have further enhanced the market growth of crop protection chemicals.
  • Changes in climatic conditions have had a significant impact on crop production and susceptibility to pests. This leads to a decline in the agricultural productivity of the produce. Moreover, the irregularity of rain in various regions across the globe leads to growth in the fungal population. Therefore, dependability on crop protection chemicals has increased among the farmers.
  • It is estimated that by the year 2030, the population of the world will rise to 8.6 billion according to the United Nations Organization. As a result of this rising population, large tracts of agricultural land will be lost to the growing cities and roads. Furthermore, an increase in the pressure on the food supplies and demand for higher crop yields will boost the demand for crop protection chemicals in the market.

Key Developments

  • In January 2020, BASF announced the opening of its new plant in Singapore to expand its Agricultural Solutions business in the Asia Pacific region. This facility will supply BASF's patented crop protection products to farmers in the region of Asia Pacific. It is estimated that when the facility is in full utilization, the plant has a production capacity of 7 million liters per year.
  • In September 2019, Bayer completed the merger of Monsanto's India business with itself. This integration will help the company by providing the farmers with its ground-breaking crop protection products and Monsanto's know-how in seeds and traits and digital farming applications.
  • In March 2021, FMC Ventures announced its collaboration with UPL Ltd. for Rynaxypyr Active Ingredient. This strategic move will enable FMC to increase the access of Rynaxypyr active to the farmers around the globe and boost the manufacturing capacity of this critical molecule.
  • Syngenta in October 2019 announced to invest $2 billion over the span of five years to spend on innovation to tackle the growing threats posed by climate change.

Market Restraints

  • Pesticides are of greater concern due to their residue problems, their poisonous qualities, bioaccumulation, lipophilicity, and adverse health effects. The chemicals are absorbed into the human body by eating fruits and vegetables infected. Cancer, birth abnormalities, neurological disorders, endocrine disruptors, and fertility damage are the main health impacts linked with pesticide residues. The influence of a pesticide is based on the length of the pesticide's exposure and toxicity. The symptoms that can occur are permanent or acute. Therefore, continuous monitoring of fruits and vegetables is required at the time of farming.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics

4.1. Market Drivers

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. Crop Protection Chemicals Market Analysis, By Origin

5.1. Introduction

5.2. Synthetic

5.3. Biopesticides

6. Crop Protection Chemicals Market Analysis, By Type

6.1. Introduction

6.2. Herbicides

6.3. Insecticides

6.4. Fungicides

6.5. Others

7. Crop Protection Chemicals Market Analysis, By Application

7.1. Introduction

7.2. Fruit and Vegetables

7.3. Oilseeds and Pulses

7.4. Cereals and Grains

8. Crop Protection Chemicals Market Analysis, by Geography

8.1. Introduction

8.2. North America

8.3. South America

8.4. Europe

8.5. Middle East and Africa

8.6. Asia Pacific

9. Competitive Environment and Analysis

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. Company Profiles

10.1. BASF

10.2. FMC Corporation

10.3. Bayer Cropscience AG

10.4. Corteva

10.5. Syngenta

10.6. Adama Agriculture Solutions Ltd.

10.7. UPL Limited

10.8. Jiangsu Yangnong Chemical Group Co Ltd

For more information about this report visit https://www.researchandmarkets.com/r/bkvuzv

Contacts:

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.