Crop Protection Chemicals (Herbicides, Fungicides, Insecticides, and Others) Market for Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Other Crops: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020
Deerfield Beach, FL -- (SBWIRE) -- 06/12/2017 -- Zion Market Research has published a new report titled "Crop Protection Chemicals (Herbicides, Fungicides, Insecticides, and Others) Market for Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Other Crops: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020." According to the report, global demand for crop protection chemicals market was valued at around USD 50.0 billion in 2014 and is expected to reach around USD 70.0 billion in 2020, growing at a CAGR of approximately 5.5% between 2015 and 2020. In terms of volume, the global crop protection chemicals market stood at around 2,250.0 Kilo tons in 2014.
Crop protection chemicals or pesticides are used to safeguard the crops by controlling the population of harmful pests or those that can potentially damage or adversely affect the growth of crops. Insecticides, herbicides, and fungicides are the major types of pesticides. Crop protection chemicals are primarily synthetic chemicals. However, bio-based pesticides are growing popularity owing to growing environmental concerns and increasing awareness among farmers regarding environmental issues. Some of the key raw materials used in the manufacturing of crop protection chemicals include chlorine, nitrogen, phosphorus, bromine, phenol, etc. Crop protection chemicals are constantly under review and susceptible to the risk of being phased out or banned owing environmental concerns.
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The major driving factor for the global crop protection chemicals market is the rapidly growing population of the world. The increase in population has resulted in higher demand for food. Moreover, arable land is shrinking due to increasing urbanization and industrialization. Crop protection chemicals help to safeguard crops and ensures higher yield. Moreover, global crop protection market is primarily driven by strong demand from Asia Pacific and Latin America. However, increasing environmental concerns across the world and stringent regulation in developed, as well as developing countries, is expected to affect the growth of this market. Moreover, increasing acceptance of genetically modified seed (Bacillus thuringite NSIS crops) is expected to adversely affect the growth of global crop protection chemicals market in the years to come.
Based on types, crop protection chemicals market is segmented into insecticides, herbicides, and fungicides. Insecticides are sub-segmented as pyrethrins and pyrethroids, malathion, carbaryl, chlorpyrifos, and others. Herbicides are sub-segmented as atrazine, acetochlor, 2, 4 – D, glyphosate, and others. Fungicides are further segmented as chlorothalonil, metalaxyl, a strobilurin, mancozeb, and others. Herbicide was the leading product segment of global crop protection chemicals market in 2014. Herbicides accounted for over 35% share of the total volume consumed in 2014. Insecticide was the second largest segment of crop protection chemicals market.
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Cereals & Grains, oilseeds & pulses, fruits, vegetables & nuts and others are the key application market of crop protection chemicals. Cereals and grains were the largest application market for crop protection chemicals in 2014. Cereals and grains accounted for around 30% share of the total crop protection chemicals volume consumed in 2014. Rice, wheat, sorghum, barley, oats, etc. are key crops dominating this segment. Fruits, vegetables, and nuts are also one of the important application segments in the global crop protection chemicals market.
Asia Pacific was the leading regional market for crop protection chemicals, with around 25% share in total volume consumption in 2014. Asia Pacific is closely followed by North America. Strong growth of the agricultural sector in China, India and other emerging economies for the region are driving demand for crop protection chemicals. Europe and Latin America also accounts for the significant share in global crop protection chemicals market. Middle East & Africa accounted for the smallest share in the global crop protection chemicals market in 2014. The Middle East & Africa is the highly untapped market for crop protection chemicals. However, Middle East & Africa is expected to show promising growth in the years to come.
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Some of the major industry participants in global crop protection chemicals market include Syngenta, BASF, DuPont, Arystya Lifescience, Sumotomo Chemicals, Nufarm, Makhteshim Agam, and DOW Agroscience.
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