Crop Protection Chemicals Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

Market Overview

The global crop protection chemicals market was valued at USD 61.06 billion in 2020, and it is projected to reach USD 76.96 billion by 2026, registering a CAGR of 4.0% during the period of 2021-2026.

With the impact of COVID-19, there have been increased trends toward sustainability and environmental solutions such as biologicals. In terms of supply, a short-term shortage of migrant laborers amidst distribution bottlenecks created a wide gap between the number of workers required for biopesticide production and the ones available. The COVID-19 pandemic had a short-term effect on the market growth but is likely to boost investment, especially in biologicals, as part of a broader shift to interest in food security and sustainable crop production and ensuring more robust supply chains.

The crop protection chemical industry has been transforming over the years, with robust growth and changing crop mix trends and environmental regulations. 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 cost are the major factors acting as restraints.

Scope of the Report

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 & Africa).

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Key Market Trends

Increased area under organic farmland

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

Biopesticides are emerging as a lucrative replacement for synthetic pesticides in regions such as Europe due to the increased stringent regulations on chemical use and chemical residue limit. Several European countries have initiated programs for promoting the use of Biopesticides. Bio- based agrochemical products that can not only improve yield but also positively affect harvest grade and sizing in speciality crops, along with shelf life and nutritional quality are gaining interest. Also, 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, in addition to food safety and quality. Also, the relatively low R&D Costs associated in the bio-based agrochemicals also account for the growth of the market.

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

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