Crop Protection Chemicals Market Worth $66.7 Billion by 2030: Grand View Research, Inc.

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Jan 17, 2023, 07:00 ET

SAN FRANCISCO, Jan. 17, 2023 /PRNewswire/ -- The global crop protection chemicals market size is expected to reach USD 66.7 billion by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.6% from 2023 to 2030. Industry growth is majorly driven by the rising consumption of food across the globe due to the increasing population. For instance, Asia Pacific is a significant contributor to the global population.

Key Industry Insights & Findings from the report:

The market is estimated to advance with a CAGR of 5.6% from 2023 to 2030. This is attributed to the population expansion thus, resulting in the increase in demand for food crops.
Crop protection chemicals are utilized for cereal and grains, oilseeds and pulses, fruits and vegetables. They protect the crops from insects and other plant diseases so as to achieve maximum yield.
Central & South America dominated the market in 2022 with a revenue share of over 32.4% in 2022. This is attributed to a large amount of unexploited agricultural land in the area. This region has one of the most complex and diverse ranges of farming systems in the world due to its rich biodiversity, varied topography, and enormous latitudinal range, which drives the market for crop protection chemicals in the region.
The herbicides dominated the product segment with a revenue share of over 44.2% in 2022. This growth is attributed to the rising usage of herbicides such as glyphosate and atrazine across various aspects of the agricultural sector.
A few herbicides such as glyphosate are designed to monitor some unique weeds. These compounds are toxic to some weed species but less toxic to others. For instance, 2, 4 D, however, a non-selective herbicide is designed to control a wide range of board leaf as well as grass weeds.
The cereals and grains in the application segment dominated the global market with a revenue share of over 41.9% in 2022. This is attributed to the shrinking farmlands and rising emphasis on the cultivation.
In November 2022, Bayer AG revealed its plans to develop crop protection technologies for corn production. It is developing a new growing system based on the latest crop protection technology for short-stature corn hybrids. This will help Bayer AG to strengthen its position in the crop protection chemicals market.

Read 241-page market research report, "Crop Protection Chemicals Market Size, Share & Trends Analysis Report By Product (Insecticides, Biopesticides), By Application (Fruits & Vegetables, Cereals & Grains), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Crop Protection Chemicals Market Growth & Trends

As reported by the United Nation Population Fund, in 2021, the region alone accounted for approximately 60.0% of the world's population with 4.3 billion people. However, there are few countries in the world, especially in Africa, where a huge part of the population is still away from fulfilling the food requirements and severely suffer from malnutrition. This has also propelled higher crop production to meet their requirements; as a result, the demand for the product market is expected to ramp up in the future.

Risks associated with poor and inadequate diet are also a major cause of death globally. Millions of people are either not consuming enough food or eating a low-nutrition diet. According to the World Bank, nearly 800 million people were devoid of food in 2020, which accounts for more than 10% of the global population. As a result, crop production is expected to increase to minimize health risks associated with malnutrition and mitigate food shortages around the world.

The rising global demand for products owing to their surged usage in various agricultural applications has been putting pressure on its manufacturers and suppliers to increase their production and supply of herbicides, pesticides, insecticides, and others. Increasing global consumption of food has been leading farmers to enhance their production. This, in turn, is augmenting the demand for product market across the world. The demand and supply scenario of the product market is expected to be stable in countries such as China, India, the U.S., and France. However, certain countries, particularly in Africa, are still facing significant crop losses owing to their limited access to herbicides, pesticides, fungicides, and advanced agricultural technologies.

Crop Protection Chemicals Market Segmentation

Grand View Research has segmented the global crop protection chemicals market based on product, application, and region:

Crop Protection Chemicals Market - Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Herbicides

By Product

Selective
Non-selective

By Active Ingredients

Glyphosate
Atrazine
2,4-D
Others

Fungicides

By Active Ingredients

Chlorothalonil
Sulfur
PCNB
Maneb
Others

Insecticides

By Active Ingredients

Malathion
Carbaryl
Chlorpyrifos
Others

Biopesticides
Others

Crop Protection Chemicals Market - Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
Others

Crop Protection Chemicals Market - Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

North America

U.S.
Canada
Mexico

Europe

Germany
France
Spain
Italy
U.K.
Eastern Europe

Asia Pacific

China
India
Japan
South Korea
Indonesia
Thailand
Australia

Central & South America

Brazil
Argentina

Middle East & Africa

South Africa

List of Key Players in Crop Protection Chemicals Market

American Vanguard Corp
Dow Chemical Company
Arysta LifeSciences Corporation
Bayer AG
BASF SE
FMC Corporation
Corteva
Chr. Hansen Holding A/S
Bioworks
Syngenta Group

Check out more related studies published by Grand View Research:

Agrochemicals Market - The global agrochemicals market size is expected to reach USD 289.5 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 3.2% during the forecast period. This increase can be attributed to the need for fertilizers and awareness of insecticides and fertilizers among consumers.
Agricultural Biologicals Market - The global agricultural biologicals market size is projected to reach USD 14.7 billion by 2027 registering a CAGR of 9.4%, according to a new report by Grand View Research, Inc. Rising demand for food products grown through organic means coupled with favorable government initiatives undertaken across all major agrarian economies is anticipated to drive the market. Significant agricultural reforms were realized worldwide after recognizing the hazards associated with synthetic fertilizers and crop care chemicals.
Biofertilizers Market - The global biofertilizers market size is projected to reach USD 2.70 billion by 2027, expanding at a CAGR of 12.8%, according to a new report by Grand View Research, Inc. Rising demand for organically produced food products across emerging economies backed with growing economic stability is the key boost to the marketspace.

Browse through Grand View Research's Agrochemicals & Fertilizers Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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