Global Crop Protection Chemicals Market Report and Forecast 2024-2032

Global Crop Protection Chemicals Market Outlook

The global crop protection chemicals market is expected to grow at a CAGR of 3.9% during the period 2024-2032. The market is expected to be driven by increased need for food and higher crop yields due to growing global population, rapid urbanization, and decreasing arable land. North America, Europe and Asia are likely to be key markets.

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Global Market Likely to be Driven by Increased Need for Food Amid Growing Global Population

Nearly eight hundred chemicals are registered for use in crop protection across the global several leading companies are engaged in discovering, developing and selling new products. Crop protection chemicals offer farmers a cost-effective way of enhancing yield and quality of crops; these also make harvesting simpler and help maintain consistent yields from year to year.  Classes of crop protection chemicals include herbicides, insecticides and fungicides. Without crop protection chemicals, agriculture would be less efficient; for example, herbicides help regulate growth of weeds which would otherwise hamper crop growth. In crops such as cotton, losses could amount up to eighty percent due to insects and weeds. Crops like potatoes and vines are particularly high-risk as these grow in parts of the world where weather conditions could sometimes be conducive to fungal epidemics. The destruction of entire crops is of major concern to consumers as well as farmers; farmers lose income and consumers are confronted with rising prices. Modern products are devised to be highly selective in their action to minimise impact on non-target organisms. So, a product designed to regulate fungi growth would do so without causing damage to the plant itself. An important aspect of the selectivity of a crop protection chemical is that it does not impact the consumer or the environment. Modern solutions are also safer than their older alternatives.

Sustainable and Selective Action Mechanism Solutions Likely to Drive Market Growth

Sugarcane is expected to play a vital role in Indian agriculture and economy, farmers always seek solutions that may enable increased productivity. It has been reported that losses over nearly 18,000 cr are incurred due to weeds in sugarcane, making farmers suffer greatly. Effective herbicides could prevent such losses and enhance produce. Farmers seek novel active ingredients that offer better targeted protection against some of the most difficult and damaging sucking pests. Companies are accelerating investment to deliver plant health innovations that support farmers, across the world, to grow productively and sustainably. Such solutions are expected to drive the global crop protection chemicals market. For example, in 2020, Syngenta Crop Protection announced the launch of Spiropidion - a new insect control technology that sought to help farmers protect their crops against damaging sucking pests in an effective and environmentally-friendly manner. Sucking pests, such as aphids, whiteflies, and scales, damage high value fruit and vegetables like tomatoes, oranges and melons, and important crops like cotton and soybean. Spiropidion (safe to natural beneficial insects and pollinators) offered farmers a new tool for Integrated Pest Management (IPM) programs.

Companies Looking to Exploit Opportunities in the Domain of Agriculture and Offering Innovative Solutions Expected to Boost Market Growth

Firms are looking to increase capacities to exploit opportunities in the domain of agriculture and farming. For example, in 2023, Crystal Crop Protection Limited launched a new business in agrochemical retail – Saffire Crop Science that would leverage technology to offer global-standard products and services. Saffire Crop would offer over 50 products in its portfolio, including insecticides, herbicides, fungicides, plant growth regulators, and bio-stimulants. The new company would offer a wide range of agrochemical products and services, driven by innovative techniques and technology, resulting in increased profitability for all stakeholders in the farming value chain. Such developments are expected to drive the global crop protection chemicals market.

In 2023, BASF launched an innovative herbicide - Vesnit® Complete – for sugarcane farmers in India. The product offered sugarcane farmers a new option for grasses and broadleaf weed control. The new solution empowered farmers with a whole new level of post-emergent weed control ensuring better yield for their crop.

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Market Segmentation

By source, the market is segmented into:

• Natural
• Synthetic

By product type, the market is divided into:

• Herbicides
• Fungicides (further broken down by type as given below)
• Biopesticides
• Others

By form, the market is segmented into:

• Liquid
• Solid

By crop type, the market is classified into:

• Cereals and Grains
• Oilseeds and Pulses
• Fruits and Vegetables
• Others

By mode of application, the market is divided into:

• Foliar Spray
• Seed Treatment
• Soil Treatment
• Others

By region, the market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Key Industry Players in the Market

The report presents a detailed analysis of the following key players in the global crop protection chemicals market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Bayer AG
• Syngenta Crop Protection AG
• BASF SE
• FMC Corporation
• Sumitomo Chemical Co., Ltd
• Rotam CropSciences Limited
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

Crop Protection Chemicals Market Report Snapshots

Crop Protection Chemicals Market Size

Crop Protection Chemicals Market Growth

Crop Protection Chemicals Companies