Crop Protection Chemicals Market - Growth, Trends, and Forecast (2023 - 2028)

Crop Protection Chemicals Market Analysis

The crop protection chemicals market is projected to register a CAGR of 4.2% during the forecast period.

• Crop protection products are used to decrease crop output losses caused by pests and diseases and maintain healthy crops. These are mainly classified into pesticides, insecticides, and herbicides and can be formed by both synthetic and biological compounds. Currently, numerous pesticides are available to prevent crops from being harmed by pests such as bacteria, rodents, insects, and birds. For instance, according to the Royal Society of chemicals, around 800 chemically active compounds are reportedly approved for crop protection treatments globally.
• The crop protection chemical industry has been transforming over the years, with robust growth and changing crop mix trends and environmental regulations. Over the long term, growing population, declining arable land, food security, and the need for augmented agricultural productivity are the significant factors driving the demand for higher agricultural output, thus boosting the growth of the crop protection industry globally. Moreover, the increased organic farming across the globe is also anticipated to drive the market for bio-based pesticides during the forecast period.​ On the other hand, bans and government regulations toward the use of pesticides in certain regions and high input costs are the major factors restraining market growth.

Crop Protection Chemicals Industry Segments

Crop protection chemicals constitute a class of agrochemicals used to prevent crop deterioration from insects and pest infestation.

The crop protection chemicals market is segmented by origin (synthetic, bio-based), product type (fungicide, insecticide, nematicide, herbicide, and other types), application (grains and cereals, pulses and oilseeds, fruits and vegetables, commercial crops and other applications), and geography (North America, Europe, Asia-pacific, South America, and Middle East and Africa). For each segment, the market sizing and forecast have been done based on value (USD million).

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Crop Protection Chemicals Market Trends

This section covers the major market trends shaping the Crop Protection Chemicals Market according to our research experts:

Increased area under organic farmland

The global organic food industry has recorded exponential double-digit growth rates in response to the growing need to meet food sufficiency and the importance of safe farming practices. Over the last three decades, organic food and farming have continued to grow across the globe. Since biopesticides are chemical–free, they are used on a large scale in organic farming. Hence, the market demand for biopesticides is increasing with the growing popularity of organic food and beverage products globally.

Biopesticides are emerging as a lucrative replacement for synthetic pesticides in regions such as Europe due to the increasingly stringent regulations on chemical use and chemical residue limit. In June 2022, the European Union's executive arm proposed setting legally binding targets to reduce the use of chemical pesticides by 50% by 2030. Similarly, On May 20, 2020, the European Commission proposed a plan to reduce 505 chemical pesticide uses and increase the percentage of organic farming. To achieve these goals, the EU claimed that it would strengthen the risk assessment of pesticides, facilitate biopesticide approvals and improve the approval process by member states. Several European countries have initiated programs to promote the use of Biopesticides. Bio-based agrochemical products not only improve yield but also positively affect harvest grade and sizing in specialty crops, along with shelf life and nutritional quality are gaining interest. Additionally, the lower residual toxicity levels of biopesticides against synthetic crop protection chemicals make them ideal inputs to be used in organic agriculture, owing to the escalating demand for soil and environmental safety, food safety, and quality. Additionally, the relatively low R&D Costs associated with bio-based agrochemicals account for the market's growth.

The increasing demand for organic products has resulted in farmers turning their farmlands towards organic cultivation practices, which require biopesticides. Therefore, a rapid adoption rate of organic farming has boosted the demand for and production of biopesticides.

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