Agricoltura
Crop Protection Chemicals Market to Reach USD 64520 Million by 2027 at a CAGR of 2.9% | Valuates Reports
Crop protection chemicals are employed on all types of crops, but cereals and oilseeds, as well as fruits and vegetables, are the ones analyzed in this report.
An increase in the need for food security owing to the rise in population is expected to drive the growth of the crop protection chemicals market.
Crop protection chemicals are a low-cost option for farmers to improve the yield and quality of their crops. They also make harvesting easier and ensure that harvests are constant from year to year. This feature is projected to propel the crop protection chemicals market forward.
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People have reduced food security as a result limited cultivable land to meet the growing demand for food. Food production must be increased around the world in order to meet future food demand. The usage of crop protection chemicals is unavoidable in such a situation. Thus the growth of the crop protection chemicals market is expected to increase as a result of this circumstance.
The need for increased agricultural productivity is fueling the expansion of the crop protection chemicals industry. Crop protection chemicals also aid in the control of infectious insects. Flies and other pests infest livestock, spreading disease, inflicting painful bites, and causing stress. Insecticides serve a key role in managing these insects, allowing animals to convert their feed more efficiently into meat and milk, enhancing profitability.
The crop protection chemicals market is also fueled by the growing demand for biopesticides and the growing need for improved farming methods. The COVID-19 pandemic slowed market development in the short term, but it is expected to spur investment, particularly in biologicals, as part of a broader shift toward food security, sustainable crop production, and more reliable supply chains.
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Based on type, the herbicides segment of the Crop protection chemicals is expected to be the most lucrative. Herbicides are widely used in the agriculture and landscaping turf management industries.
Based on application, the foliar spray segment of the Crop protection chemicals is expected to be the most lucrative segment. Foliar spray is majorly used for spraying herbicides and insecticides for removing unwanted weeds manually and also for eradicating insect attacks on crops.
Based on region, Asia Pacific is the most lucrative region during the forecast period. Growing public awareness regarding pesticides, as well as continual technological developments, are driving this industry forward. Agribusiness firms have also been pushed to extend their supplier and production bases in Asia-Pacific as a result of expanding crop demand and rising cultivation in the region.
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- In 2020, the global Biorational Crop Protection (BCP) market size was USD 4319 Million and it is expected to reach USD 9161.5 Million by the end of 2027, with a CAGR of 10.9% during 2021-2027.
- In 2020, the global Crop Protection market size was USD 70340 Million and it is expected to reach USD 107870 Million by the end of 2027, with a CAGR of 6.3% during 2021-2027.
- In 2020, the global Generic Crop Protection market size was USD 49590 Million and it is expected to reach USD 61580 Million by the end of 2027, with a CAGR of 3.1% during 2021-2027.
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