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Redding, California - June 27, 2024

Crop Protection Chemicals Market to be Worth $88 Billion by 2031

Crop Protection Chemicals Market Size, Share, Forecast, & Trends Analysis by Type (Synthetic [Insecticides, Herbicides], Biological), Formulation (Solid, Liquid), Mode of Application (Seed Treatment, Soil Treatment), Crop Type - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Crop Protection Chemicals Market Size, Share, Forecast, & Trends Analysis by Type (Synthetic [Insecticides, Herbicides], Biological), Formulation (Solid, Liquid), Mode of Application (Seed Treatment, Soil Treatment), Crop Type - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the crop protection chemicals market is projected to reach $88 billion by 2031, at a CAGR of 3.3% during the forecast period 2024–2031. The growth of this market is attributed to factors such as the rising demand for low-cost crop protection solutions, the growing need to increase crop yield and quality, growing awareness about environmental safety, increasing adoption of advanced agricultural practices and technologies, and rapidly decreasing agricultural land. However, growing concerns over chemical residues in food and stringent and non-standardized regulations hinder the growth of this market. Moreover, an increasing focus on integrated pest management, the growing adoption of biological seed treatments, and emerging economies in Asia-Pacific and Latin America are expected to generate significant growth opportunities for the stakeholders in the crop protection chemicals market. On the other hand, lengthy product registration and approval processes and the complicated process of developing film coating for seed treatment pose a major challenge to market growth. The latest trends in the crop protection chemicals market are sustainability, bio-based solutions, digitalization, and precision agriculture.

Key Players

Some of the key players operating in the crop protection chemicals market are BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (U.S.), FMC Corporation (U.S.), Novozymes A/S (Denmark), Nufarm Limited (Australia), Syngenta AG (Switzerland), UPL Limited (India), Sumitomo Chemical Co., Ltd. (Japan), and Jiangsu Yangnong Chemical Co. Ltd (China).

The crop protection chemicals market is segmented based on type (synthetic crop protection chemicals and biological crop protection chemicals), formulation (liquid formulation and dry formulation), mode of application (foliar spray, seed treatment, soil treatment, and other modes of application), crop type (cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on type, the synthetic crop protection chemicals segment is expected to account for the largest share of 91.3% of the crop protection chemicals market in 2024. The segment’s large share is mainly attributed to its increasing use in developing countries, ease of availability, high efficiency, and lower cost compared to biological products.

However, the biological crop protection chemicals segment is projected to witness the highest growth rate during the forecast period of 2024–2031. This growth is driven by the increasing adoption of organic farming, growing environmental and public health concerns regarding the use of chemical crop protection products, high demand for chemical residue-free agricultural products, and the initiatives by governments worldwide to promote the use of biological crop protection products.

Based on formulation, the liquid formulation segment is expected to account for the larger share of 68.8% of the crop protection chemicals market in 2024. The segment’s large share is mainly attributed to the uniform & easy application of liquid form, better performance, and higher effective duration (up to 6 months) than dry form (up to 3 months).

Based on mode of application, the foliar spray segment is expected to account for the largest share of 69.9% of the crop protection chemicals market in 2024. The segment’s large share is mainly attributed to its high efficiency, uniform distribution, and minimum to no wastage of crop protection chemicals.

However, the seed treatment segment is projected to witness the highest growth rate during the forecast period of 2024–2031. This growth is driven by the increased germination and uniform seedling emergence, safety, and pest resistance advantages of the seed treatment technique. In this method, microbial pesticides are often applied with chemical pesticides, as chemical pesticides provide early-season control, and microbial pesticides provide extended control.

Based on crop type, the cereals & grains segment is expected to account for the largest share of 37.4% of the crop protection chemicals market in 2024. The segment’s large share is mainly attributed to the growing need to increase cereal & grain production, minimize cereal & grain loss due to pests and diseases, and the increasing use of these crops in animal feed, biofuel, and starch & ethanol production.

However, the fruits & vegetables segment is projected to witness the highest growth rate during the forecast period of 2024–2031. This growth is driven by the increasing fruit & vegetable production across the globe, the growing demand for chemical-free organic fruits & vegetables, and the growing number of diseases affecting fruit & vegetable crops.

Based on geography, in 2024, Latin America is expected to account for the largest share of 32.1% of the crop protection chemicals market. The crop protection chemicals market in Latin America is estimated to reach $22,331.7 million in 2024. The large share of this region is attributed to several key factors, including the growing population and food requirements, rapid expansion in the agriculture sector, and the growing need to increase crop yield. Also, rising awareness among farmers about the benefits of using high-end agro-products and increasing adoption of organic farming practices further support the growth of this market.

However, the market in Europe is slated to register the highest growth rate during the forecast period. This regional market's growth is driven by the growing demand for organic products, increasing government support, increased adoption of natural products over synthetic products, and rising health consciousness.

Download Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=2584

Key Questions Answered in the Report:

Which are the high-growth market segments in terms of type, formulation, mode of application, crop type, and geography?
What is the historical market size for crop protection chemicals across the globe?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the crop protection chemicals market?
Who are the major players in the market, and what are their market shares?
Who are the major players in various countries, and what are their market shares?
What is the competitive landscape like in the crop protection chemicals market?
What are the different strategies adopted by the major players in the crop protection chemicals market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the crop protection chemicals market, and how do they compete with other players?

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Redding, California - June 27, 2024

Crop Protection Chemicals Market to be Worth $88 Billion by 2031

Crop Protection Chemicals Market Size, Share, Forecast, & Trends Analysis by Type (Synthetic [Insecticides, Herbicides], Biological), Formulation (Solid, Liquid), Mode of Application (Seed Treatment, Soil Treatment), Crop Type - Global Forecast to 2031

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