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Market Overview
The global market for crop protection chemicals was valued at USD 48 billion in 2018, and is expected to reach USD 57.70 billion by 2024, registering a CAGR of 3.1% during the forecast period (2019 - 2024). Currently, the herbicide segment constitutes the largest market share (36%). The segment is expected to retain its position until 2024, due to the large-scale adoption of herbicide-resistant crops in North and South America.
The global crop protection chemical industry has been transforming over the years, with robust growth, coupled with changing crop mix trends and environmental regulations. Growing population, the decline in arable land, and food security are the primary focus areas for all countries and these factors are driving the demand for higher agricultural output, thus augmenting the growth of the pesticide industry, globally.
Scope of the Report
Crop protection chemicals constitute a class of agrochemicals used for preventing the destruction of crops by pests, diseases, and weeds. Synthetic pesticides form the largest category within the market for crop protection chemicals, with biopesticides accounting for a comparatively minute share.
Key Market Trends
Increasing Food Demand and Diminishing Land Area
The global population is increasing exponentially, and every day, nearly 200,000 people are contributing to the global food demand. According to the US Population Division, the global population has increased nearly fourfold in the past 100 years, and is projected to reach 9.2 billion by 2050. Supplying food to this growing population has become a global threat. By 2030, the per capita farmland is expected to decrease to 1800 m² from 2,200 m² in 2005. Various crop pests contribute to yield loss, causing global crop loss of 10-16% annually. Although the new plant technologies are continuously being developed to fight pest attacks, they are also leading to the development of new strains of pests that are difficult to kill. The amount of loss in major crops, due to fungi alone, is enough to feed nearly 9% of the global population
Asia-Pacific dominates the Global Market
Crops, like rice, soybean, wheat, barley, fruits, and vegetables, are largely grown in Japan, which has a very high usage rate of pesticides. In spite of the small population and land area, Japan was a significant market for crop protection chemicals, occupying a share of 16% of the total Asia-Pacific market in 2015. The country has the highest pesticide usage per hectare compared to any other country in the world at approx. 12 kg /hectare.
In India, synthetic pesticides have been extensively used for alleviating the estimated 45% gross loss of crops, due to the infestation of pests and diseases. Major factors driving the Indian market include greater demand for food grains, limited availability of arable land, along with increasing exports, growth in horticulture and floriculture, and increasing public awareness regarding synthetic pesticides and biopesticides.
Competitive Landscape
The global crop protection chemicals market is highly consolidated, with various small and medium-sized companies and few big players, resulting in stiff competition in the market. Majority of the market share is occupied by seven major players, namely, Syngenta, Bayer, Monsanto, BASF, UPL, Adama, and Dow-DuPont. Companies are not only competing with regard to product quality and promotion but are also focused on strategic moves, such as mergers and acquisitions, to garner greater market shares.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The global market for crop protection chemicals was valued at USD 48 billion in 2018, and is expected to reach USD 57.70 billion by 2024, registering a CAGR of 3.1% during the forecast period (2019 - 2024). Currently, the herbicide segment constitutes the largest market share (36%). The segment is expected to retain its position until 2024, due to the large-scale adoption of herbicide-resistant crops in North and South America.
The global crop protection chemical industry has been transforming over the years, with robust growth, coupled with changing crop mix trends and environmental regulations. Growing population, the decline in arable land, and food security are the primary focus areas for all countries and these factors are driving the demand for higher agricultural output, thus augmenting the growth of the pesticide industry, globally.
Scope of the Report
Crop protection chemicals constitute a class of agrochemicals used for preventing the destruction of crops by pests, diseases, and weeds. Synthetic pesticides form the largest category within the market for crop protection chemicals, with biopesticides accounting for a comparatively minute share.
Key Market Trends
Increasing Food Demand and Diminishing Land Area
The global population is increasing exponentially, and every day, nearly 200,000 people are contributing to the global food demand. According to the US Population Division, the global population has increased nearly fourfold in the past 100 years, and is projected to reach 9.2 billion by 2050. Supplying food to this growing population has become a global threat. By 2030, the per capita farmland is expected to decrease to 1800 m² from 2,200 m² in 2005. Various crop pests contribute to yield loss, causing global crop loss of 10-16% annually. Although the new plant technologies are continuously being developed to fight pest attacks, they are also leading to the development of new strains of pests that are difficult to kill. The amount of loss in major crops, due to fungi alone, is enough to feed nearly 9% of the global population
Asia-Pacific dominates the Global Market
Crops, like rice, soybean, wheat, barley, fruits, and vegetables, are largely grown in Japan, which has a very high usage rate of pesticides. In spite of the small population and land area, Japan was a significant market for crop protection chemicals, occupying a share of 16% of the total Asia-Pacific market in 2015. The country has the highest pesticide usage per hectare compared to any other country in the world at approx. 12 kg /hectare.
In India, synthetic pesticides have been extensively used for alleviating the estimated 45% gross loss of crops, due to the infestation of pests and diseases. Major factors driving the Indian market include greater demand for food grains, limited availability of arable land, along with increasing exports, growth in horticulture and floriculture, and increasing public awareness regarding synthetic pesticides and biopesticides.
Competitive Landscape
The global crop protection chemicals market is highly consolidated, with various small and medium-sized companies and few big players, resulting in stiff competition in the market. Majority of the market share is occupied by seven major players, namely, Syngenta, Bayer, Monsanto, BASF, UPL, Adama, and Dow-DuPont. Companies are not only competing with regard to product quality and promotion but are also focused on strategic moves, such as mergers and acquisitions, to garner greater market shares.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
