The global crop
protection chemicals market is expected to reach USD 90.09 billion
by 2022, according to a new report by Grand View Research, Inc. Rapid
population growth, which demands high food production coupled with rising
awareness regarding food safety is expected to drive demand for crop protection
chemicals.
The industry is highly competitive owing to the
presence of numerous manufacturers spread across the globe. The manufacturers
are expected to undergo mergers and acquisitions in order to strengthen their
business and widen consumer base. Strong foothold of existing manufacturers
such as Bayer AG, Dow AgroSciences, Syngenta and BASF in the market is expected
to obstruct the growth of new players.
The industry players are expected to shift their focus
to produce bio-based chemicals, in order to meet the rising consumer demand for
environmentally friendly products. Increasing stringent regulations on the
existing hazardous synthetic crop protection chemicals by government bodies
such as EPA and OSHA is expected to hamper industry growth over the projected
period.
High investments by major players to manufacture crop
specific green protection chemicals with low cost is expected to impact the
industry positively. The industry has numerous distributors and suppliers which
reach the consumers from remote locations, which is likely to boost industry
growth.
Browse full research report on Crop Protection Chemicals Market: https://www.grandviewresearch.com/industry-analysis/crop-protection-chemicals-market
Further
key findings from the report suggest:
- Insecticides accounted for 37.6% of the global crop protection
chemicals market in 2016 owing to their low cost and superior
effectiveness against targeted insects on crops
- The demand for fungicides is expected to grow at a CAGR of 6.8%
over the projected period owing to its ease of application and ability to
improve storage quality of harvested crops and fruits
- Cotton was the largest application segment for the industry in 2016
and is expected to grow at a CAGR of 8.4%, which is driven by high demand
from textile and medical industry
- North America was the leading market for crop protection chemicals
in 2016, with the revenue of USD 18.52 billion, which was attributed to
early product adoption and high spending capacity of the farmers in the
region
- The Asia Pacific is likely to witness the highest growth, owing to
increasing investments by the farmers in India and China to increase crop
yield and improve quality of agricultural products in order to meet the
rising demand
- The major players in the industry are expected to venture into
local markets of the developing economies by acquiring the small-scale
companies in order to strengthen company roots in the high potential
markets
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
Grand
View Research has segmented the global crop protection chemicals market on the
basis of product, application, and region:
Crop
Protection Chemicals Product Outlook (Volume, Kilotons; Revenue, USD Million,
2012 - 2022)
- Herbicides
- Fungicides
- Insecticides
- Others
Crop
Protection Chemicals Application Outlook (Volume, Kilotons; Revenue, USD
Million, 2012 - 2022)
- Fruits &
vegetables
- Cereals
- Maize
- Cotton
- Rice
- Others
Crop
Protection Chemicals Regional Outlook (Volume, Kilotons; Revenue, USD Million,
2012 - 2022)
- North America
- Europe
- Asia Pacific
- Rest of the
world
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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