Industry Outlook and Trend Analysis
The global Crop Protection Chemicals Market was worth USD 49.88 in 2014 and is expected to reach approximately USD 80.42 by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.45% during the forecast period. Continuously increasing population, rising awareness pertaining to health and food safety, need for improved crop yield and decreased arable land is anticipated to propel the need of this market in the future. Awareness regarding environmental concern and food safety is constantly increasing amidst the consumers and this has caused the need for Biopesticides to increase. Additionally, along with phasing out of a few specific pesticides which include atrazine, glyphosate, and chlorpyrifos, the need for biopesticides is anticipated to rise. Rigorous regulations against the use of synthetic pesticides due to extreme impact on the environment are anticipated to hinder the growth of this market.
Product Outlook and Trend Analysis
Worldwide demand for herbicides was esteemed at USD 17.0 billion in 2014. Positive climatic conditions combined with improved properties including the specific killing of undesirable weeds is foreseen to boost the market over the figure period. Fungicides represented more than 22.7% of the worldwide business volume in 2014. Rising interest for fungicides over all the real areas inferable from great climatic conditions advancing parasitic development is anticipated to impel interest for the compound throughout the following years.
Application Outlook and Trend Analysis
Cotton was the biggest application portion which was esteemed at USD 12.65 billion in 2014. Developing interest for agrochemicals in cotton combined with developing cotton creation in Asia-Pacific and ROW is foreseen to have a positive effect towards market growth. Cereals application represented 19.0% share of the market in 2014. Rising interest for food grains over the globe is anticipated to have a positive effect towards market development.
Regional Outlook and Trend Analysis
North America was the biggest market for crop protection chemicals in 2014, and this pattern is foreseen to proceed over the gauge time frame. North America is anticipated to develop at a generally low CAGR in the following years inferable from developing shopper awareness with respect to the evil impacts of engineered agrochemicals. Crop protection chemical request in Asia Pacific was esteemed at USD 14.03 billion out of 2014. The Asia-Pacific demand for these chemicals is foreseen to witness the speediest development on account developing interest from India and China.
The leading players in the market are Natural Industries, Bayer Cropscience Limited, Isagro, DuPont, Cheminova India Ltd, Bioworks, BASF, Novozymes and Arysta LifeScience India Limited. Global crop protection market is defined by a huge number of mergers and acquisitions in the recent years. Many large organizations have consolidated their presence in the existing geographies or ventured into newer areas through acquisitions of local companies.
The Crop Protection Chemicals Market is segmented as follows-
Fruits & vegetables
- North America
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Asia-Pacific
- South America
- South Africa
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some of the key questions answered by the report are:
- What was the market size in 2014 and forecast from 2015 to 2023?
- What will be the industry market growth from 2015 to 2023?
- What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
- What are the major segments leading the market growth and why?
- Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?