Global Crop Protection Chemicals Market 2017-2018 & Forecast to 2023 – Market Value is Expected to Reach US$ 77.3 Billion

Dublin, Nov. 06, 2018 (GLOBE NEWSWIRE) -- The "Crop Protection Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.

The global crop protection market reached a value of US$ 57.7 Billion in 2017. The market value is further expected to reach US$ 77.3 Billion by 2023, exhibiting a CAGR of around 5% during 2018-2023.

Crop protection chemicals help in managing and minimising plant diseases, weeds and other pests that damage agricultural crops. These chemicals also help in increasing and maintaining year over year crop yield. Crop protection chemicals can be mainly classified into herbicides, insecticides, and fungicides. Earlier, farmers used to control the infestation of insects and fungi by inorganic compounds such as arsenic and mercury salts. Currently, there are hundreds of chemicals available for protecting crops from getting damaged by birds, insects, rodents, bacteria, etc. The importance of crop protection chemicals have increased significantly over the last few decades catalysed by the need to enhance agricultural output and ensure adequate food availability for the growing global population.

From a population of around 7.6 Billion people today, the global population is expected to exceed 9 Billion by 2050. Moreover, the amount of arable land is also decreasing with rising urbanisation levels and more people living in cities compared to the countryside. Crop protection chemicals are expected to play a major role in increasing agriculture productivity in the coming years. These chemicals are expected to maximize agriculture yield by eliminating pests that reduce yields; resulting in more product per acre and lowering the need to convert natural areas such as woods and forests, native prairies, wetlands, plains, and other wildlife habitat into farm lands.

Crop protection chemicals such as herbicides have made no-till farming a viable option, allowing farmers to reduce erosion by leaving the soil largely undisturbed. Herbicides can be utilised for controlling weeds in no-till crop production, removing the need for cultivation; residue from the previous crop holds the soil in place during wind and rain. Crop residue also prevents runoff of agricultural chemicals and soil that may otherwise impact aquatic habitat and fresh water supplies downstream.

Another major benefit of crop protection chemicals is the control of infectious insects. Livestock is affected by flies and various other pests that cause disease, deliver painful bites, and impose stress. Insecticides play a major role in controlling these insects, resulting in animals converting their feed into meat and milk more efficiently and thus increasing profitability.

Crop protection chemicals have also been used to reduce the spread of exotic pest populations. For instance, herbicides were found to be very effective in controlling the weed purple loosestrife in marshes and wetlands. Similarly, herbicides were also effective against Canada thistle and Johnsongrass along rights-of-way and in farm fields.

Crop Protection chemicals also provide a major role in producing high quality grain and forage. For example, insecticides protect alfalfa crops from insects and diseases which would otherwise lead to significant reduction in the protein content (an important dietary requirement for dairy cattle) and yield.

Market Summary:

  • Based on the product type, the market has been segmented into herbicides, fungicides, insecticides and others. Currently, herbicides dominate the market, holding the largest share.
  • Based on the origin, the market has been segmented as synthetic and natural. Synthetic crop protection chemicals currently represents a bigger segment.
  • Based on the crop type, the market has been segmented as cereal and grains; oilseed and pulses; fruits and vegetables; and others.
  • Based on the form, the market has been segmented as solid and liquid.
  • On the basis of mode of application, the market has been segmented as foliar spray, seed treatment, soil treatment and others.

The competitive landscape of the market has also been examined with some of the key players being

  • BASF SE
  • The DOW Chemical Company
  • Dupont
  • Sumitomo Chemical Co. Ltd
  • Syngenta AG
  • Bayer Cropscience AG
  • FMC Corporation
  • Monsanto Company
  • Nufarm Limited
  • ADAMA Agricultural Solutions Ltd.

For more information about this report visit https://www.researchandmarkets.com/research/572jpj/global_crop?w=12

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Related Topics: Agrochemicals and Fertilizers, Crop Farming

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