Crop Protection Chemicals Market Size to Reach $117,436.6 Million by 2030, says P&S Intelligence
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Herbicide sales generated the major revenue, of about $40 billion, in 2021, as they are employed to remove unwanted foliage and encourage the propagation of the needed species. Furthermore, these substances are popularly used before and throughout planting in row-crop farming, to improve crop output, while reducing the acreage of other kinds of vegetation.
Cereals are the highest revenue contributors in the crop protection chemicals market, and this category will proceed at a compound annual growth rate of more than 5% in the near future. The increasing requirement for food for the enormous population is an important reason for the large-scale farming of cereals. The production of cereals has augmented significantly in recent times, as individuals are more aware of the significance of a hale and hearty regimen.
The APAC market accounted for the largest share of the revenue, in excess of 40%, in 2021, a trend that will continue in the near future. This is credited to the considerable agrarian base, widespread farmlands, and increase in the consciousness of the use of pesticides. Additionally, the regional market development is powered by the technical progressions in agriculture and the rise in crop demand.
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For developing these chemicals, companies are investing heavily in R&D and teaming up with universities, research organizations, and business experts. For example, Syngenta Crop Protection AG invested a sum of $1.3 billion in 2021 in R&D for the development of hybrid seeds and crop protection solutions.
Strategic Developments in Crop Protection Chemicals Market
The stalwarts have accepted numerous strategies to achieve a stronghold on the crop protection chemicals market, including product introductions, partnerships, and acquisitions. For example,
Crop Protection Chemicals Market Segmentation Analysis
By Type
By Application
By Region
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