Global Crop Protection Chemicals Market to Reach US$ 116.5 Billion by 2028, Propelled by Significant Growth in Agriculture Industry

March 28, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Crop Protection Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global crop protection chemicals market size reached US$ 88.0 Billion in 2022. Crop protection chemicals, also known as agrochemicals, are substances used in agricultural practices to prevent crop deterioration from pests, diseases, and weeds. It includes pesticides, herbicides, fungicides, rodenticides, nematicides, molluscicides, pheromones, and plant growth regulators. These chemicals are manufactured using synthetic and natural active ingredients, solvents, adjuvants, diluents, surfactants, preservatives, emulsifiers, and binders. Crop protection chemicals are widely used for improving plant growth, preventing crop diseases, and controlling the spread of mites, bacteria, weeds, rats, mice, aphids, caterpillars, and other pests. They are safe, cost-effective, and highly beneficial products that improve crop yield, enhance quality, prevent losses, increase farmer profit, and reduce manual labor.

Crop Protection Chemicals Market Trends:

The significant growth in the agriculture industry is one of the primary factors creating a positive outlook for the market. Crop protection chemicals are widely used in the farming of cereals, grains, fruits, vegetables, oilseeds, and pulses, to control pests and diseases, enhance protection, prevent crop loss, and improve overall yield. In addition to this, the widespread product utilization to ensure food security due to the rising global population is acting as another growth-inducing factor. Furthermore, the increasing product demand among farmers due to the growing adoption of modern agricultural practices to combat climate change, increase profit, save resources, and protect the crop from new and emerging pests and diseases is favoring the market growth. Additionally, the integration of nanotechnology to improve the delivery of crop protection chemicals, reduce the amount required per crop, and increase product shelf-life, is providing an impetus to the market growth. Besides this, the recent development of the microencapsulation technique, which allows the release of chemicals in a controlled manner, increases overall efficiency, and minimizes adverse environmental impact, is positively influencing the market growth. Moreover, increasing government initiatives to educate farmers, spread awareness, and promote the adoption of crop protection chemicals to enhance food production is propelling the market growth. Other factors, including rapidly decreasing arable lands, rising food consumption, increasing investment in the research and development (R&D) of advanced products, the implementation of various government initiatives promoting the utilization of sustainable crop protection products, and widespread adoption of environment-friendly insecticides and biopesticides derived from bacteria and animal-based sources, are anticipated to drive market growth. On account of the aforementioned factors, the market value is expected to reach US$ 116.5 Billion by 2028, exhibiting a CAGR of 4.28% during 2023-2028.

Market Summary:

On the basis of the product type, the market has been divided into herbicides, fungicides, insecticides, and others. At present, herbicides dominate the market.
Based on the origin, the market has been bifurcated into synthetic and natural. Among these, synthetic crop protection chemicals represent a bigger segment.
On the basis of the crop type, the market has been classified into cereal and grains, fruits and vegetables, oilseeds and pulses, and others.
Based on the form, the market has been bifurcated into liquid and solid.
On the basis of the mode of application, the market has been classified into foliar spray, seed treatment, soil treatment, and others.
On a regional basis, the market has been categorized into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America.
The competitive landscape of the industry has also been examined, with some of the key players being BASF SE, Corteva Agriscience, Sumitomo Chemical Co., Ltd, Syngenta AG, Bayer Cropscience AG, FMC Corporation, Monsanto Company, Nufarm Limited and ADAMA Agricultural Solutions Ltd.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Product Type, Origin, Crop Type, Form, Mode of Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	BASF SE, Corteva Agriscience, Sumitomo Chemical Co., Ltd, Syngenta AG, Bayer Cropscience AG, FMC Corporation, Monsanto Company, Nufarm Limited and ADAMA Agricultural Solutions Ltd.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: 2499 Five User License: 3499 Corporate License: 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Crop Protection Chemicals Market to Reach US$ 116.5 Billion by 2028, Propelled by Significant Growth in Agriculture Industry

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