Crop Protection Chemicals Market to Reach Valuation of USD 75.2 Billion by 2028 - Increasing Demand for Crop Protection Chemicals Market for Food Security and Safer Alternates for Consumption to Drive the Market Growth

From the period of 2022 to 2028, the Global Crop Protection Chemicals Market is expected to reach USD 75.2 Billion in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 2.60%.

Crop Protection Chemicals aid in the management and reduction of plant diseases, weeds, and other pests that wreak havoc on agricultural crops. These chemicals also aid in crop production growth and maintenance from year to year. Herbicides, insecticides, and fungicides are the three main types of crop protection agents. The increased focus on food security has allowed the introduction of novel techniques for efficient mixed crop production and agricultural yield enhancement. Furthermore, there has been a rise in awareness of the toxic compounds in pesticides, as well as the need to generate sustainable chemicals from the plant, animal, mineral, and bacterial sources, minimizing soil pollution and contamination of agricultural produce. As a result, bio-based crop protection agents have been developed. The influence is greater in western economies, where the agriculture sector has undergone technical revolutions and farmers are not only aware of the benefits of organic compounds, but also prepared to invest in them to protect their agricultural supply.

Key Highlights from the Report

• On the basis of Type, the market is segmented into Herbicides, Insecticides, Fungicides, and Others (rodenticides, disinfectants, fumigants, plant growth regulators, and mineral oils). Herbicides dominated the global market, owing to a labor constraint in many developing nations, such as India and China, for mechanical weeding. Herbicides' superior efficiency over manual weeding approaches is likely to fuel market expansion in the future years. The introduction of numerous herbicide products with unique features based on weed selectivity and crop emergence leads to the growth of the Crop Protection Chemicals Market. On the other hand, as the area under genetically modified crops grows in various places, herbicide products are used more frequently in crop production.

• On the basis of Crop Type, the market is segmented into Cereals & grains, Oilseeds & pulses, Fruits & vegetables, and Other crops (turfs & ornamentals, forage, and plantation crops). Due to the widespread use of crop protection agents in cereal production, the cereals & grains industry has seen a strong expansion in recent years. Furthermore, the growing worldwide population has resulted in a greater focus on food security and a high demand for crops, boosting the cereals segment's growth.

• Asia Pacific is the fastest regional segment in terms of growth. Due to its enormous agricultural base, Asia-Pacific is the largest user of crop protection. Farmers in the region are gradually shifting toward the use of eco-friendly, natural insecticides and bioinsecticides as they become more aware of the impact of chemical pesticides on human health. As a result, the expansion of biopesticides has had an influence on the market for synthetic insecticides, particularly in developing nations like India and China. The surge in demand for organic baby food is attributable to an increasing emphasis on the importance of organic products among the younger generation, as well as the growing number of women in the workforce and the increasing adoption of the health and wellness trend in China.

Market Dynamics:

The Emergence of Pests and Diseases Due to Fluctuations in Climatic Conditions to Aid Growth

Plant diseases and pests have become more common as a result of changing environmental circumstances. Climate change has a substantial impact on crop productivity and insect issue susceptibility. Climate change makes crops more susceptible to various pests and diseases, which has an impact on crop productivity. As a result, each change in the climate causes a shift in farming practices, resulting in lower output. In addition, sporadic rainfall in several places boosted the fungus population. Farmers' reliance on the products for effective pest prevention has increased as a result of these reasons, supporting market expansion.

Growth in Resistance of Pests to Crop Pesticides to Hamper the Market

Increased pest resistance to certain crop protection agents is a key stumbling block to market expansion. The decreased efficiency of certain active substances has resulted in increased pest resistance. Changes in insect metabolic patterns, increased reproduction rates, and pest multiplication have all contributed to this resistance.

Over the projection period, Asia Pacific is expected to have tremendous growth. The market's significant expansion has been fueled by a growing awareness of the use of crop protection goods among small and marginal crop producers in the region. The expansion of high-value and export-oriented crop farming areas is expected to promote market growth in the Asia Pacific. Pesticides are becoming more prevalent in the region as the population grows and the demand for food crops grows.