Russia Crop Protection Chemicals Market Size

Russia Crop Protection Chemicals Market Analysis

The Russia Crop Protection Chemicals Market size is estimated at USD 1.78 billion in 2024, and is expected to reach USD 2.28 billion by 2029, growing at a CAGR of 5% during the forecast period (2024-2029).

• The Russian government has approved a resolution to create a state information system to track pesticides and agricultural chemicals. The federal tracking system will make it possible to improve control over the safe handling of pesticides and agrichemicals. According to the FAO and the Russian Union of Producers of Crop Protection Chemical, about 30% of chemical substances are illegally imported, counterfeited, or unfit for use. Therefore, the emergence of a system for all agriculture is tremendously important for the traceability of pesticides and agrichemicals at all stages, which will positively impact the domestic market and Russia's export potential. This will help to strengthen the country's growth during the forecasting period.
• The crop protection development is impeded by acute competition from imports and a drop in prices of various agrochemical products. Due to the Russia-Ukraine war, many companies have paused their business units in the country and stopped supplying agricultural inputs to the farmers. However, due to the food crises, these companies slowly started opening businesses and resumed operating the supply units in the country. Despite the challenging environment, major players are expanding their presence in the region.
• The increase in exports of major grain and cereal crops such as wheat, corn, and barley and favorable government policies supporting its production and growing demand for food due to increasing population are some of the prime factors driving the market growth for crop protection chemicals in the country. These factors are boosting the growth of the market in the coming years.