Crop Protection Market Size, Share & Trends Analysis Report Forecast 2024-2031.
Crop Protection Market Size, Share & Trends Analysis Report Forecast 2024-2031.
Blog Article
The global crop protection market is anticipated to grow at a CAGR of around 4% during the forecast period. Crop protection is defined as a practice of managing plant diseases, weeds, and pests that can damage crops quality. The increasing population growth that is driving the high demand for food products is one of the major factors for the growth of the crop protection market. In addition to this, the increasing use of herbicides and weed control across the globe is expected to grow the crop protection market significantly during the forecast period. However, the growing environmental and health concern such as soil pollution, water pollutions, and toxins are restraining the crop protection market.
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Segmental Outlook
The global crop protection market is segmented based on type, origin, and application. Based on the type, the market is sub-segmented into herbicides, insecticides, fungicides, biopesticides, and others. Based on the origin, the market is bifurcated into synthetic crop protection and bio-based crop protection. Further, based on application, the market is sub-segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, and others.
Bio-Based Segment to Exhibit Considerable Growth
The bio-based segment is anticipated to grow with a considerable CAGR owing to the increasing organic farming culture. Bio-based chemicals used in crop protection have the capability of rapidly decomposing without leaving any noxious residues. Additionally, there is an increasing adoption of bio-based chemicals for crop protection as they are considered healthy for the body, which in turn, is anticipated to drive the segmental growth of market during the forecast period. Moreover, the increased adoption of bio-based chemicals in agriculture is fuelling the growth of the crop protection market.
Regional Outlooks
The global crop protection market is further segmented based on geography into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to grow at a significant CAGR in the Crop protection market during the forecast period. The growth of the market in the region is owing to the advanced agricultural practices across the region. Additionally, the easy availability of chemicals for crop protection owing to the presence of key market players across the region will also fuel the crop protection market significantly during the forecast period.
By Type (Herbicides, Insecticides, Fungicides, Biopesticides, and Others), By Origin (Synthetic and Bio-based), By Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others),
Market Players Outlook
Some of the key players of the crop protection market include Bayer AG, Cropscience Ltd., Marrone Bio Innovations, Inc., Isagro SpA, Syngenta AG, Adama Ltd., Sumitomo Chemical Co., Ltd., Chr. Hansen Holding A/S, and others. The market players are considerably contributing to the market growth by adopting various strategies including new product launch, merger, and acquisition, collaborations to stay competitive in the market.
Recent Activities
In April 2020, Sumitomo Chemical Co., Ltd. completed the acquisition of Nufarm Ltd. owned four subsidiaries in Brazil, Argentina, Chile, and Colombia. The acquisition will aid the company in expanding its geographical reach in crop protection businesses across the globe.
In January 2020, Marrone Bio Innovations, Inc., announced the approval of its bio fungicide named Stargus by the California Department of Pesticide Regulation (CDPR). It has been approved for immediate use by farmers in California on various crops, including cucurbits, grapes, brassicas, strawberries, leafy greens, and fruiting vegetables.
In July 2090, Marrone Bio Innovations, Inc., launched a pest management program called BioUnite, that will provide prescriptions to farmers for combinations of biologicals with chemical pesticides to protect its crops.
In June 2018, Chr. Hansen Holding A/S announced the five-year extension of the collaboration with FMC Corp. on natural crop protection. The collaboration earlier has aided in accelerating the entry of both the companies into the rapidly growing biological crop protection market. Similarly, the extended agreement is anticipated to continues to leverage the resources and expertise of both companies and provide them with more flexibility in operations.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global crop protection market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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