Crop Protection Chemicals Market to reach $97.5 Billion by 2030; Growing need for food security, rising incidences of pest attacks and government subsidies for pesticides are driving the demand for Crop Protection Chemicals.

The Crop Protection Chemicals Market size is estimated to reach $97.5 Billion by 2030, growing at a CAGR of 5.3% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Crop Protection Chemicals Market – By Source (Conventional and Natural), By Type (Herbicides, Insecticides, Fungicides, Nematicides, Rodenticides and Others), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), By Form (Solid, Liquid and Gas), By Mode of Application (Foliar Spray, Fertigation, Seed Treatment and Others) and By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030”

As the world population grows, there is an increasing need for food security which drives the demand for crop protection chemicals to ensure consistent yield. Additionally, with climate change there have been rising incidences of pest attacks leading to stronger demand for chemicals to counter these attacks. Furthermore, government subsidies for pesticides also boosts the demand for crop protection chemicals.

APAC held the largest market share in 2023 due to its vast agricultural landscape and growing food demand from its large population. Key countries like China, India and Indonesia are heavily dependent on agriculture driving the extensive use of pesticides and herbicides to maximize crop yields. Indonesia is the third-largest cocoa producer globally, with an annual output of approximately 450,000 tons and ranks eighth in tea production according to the Food and Agriculture Organization (FAO). The region's tropical and subtropical climates make it highly prone to pest infestations further increasing the demand for crop protection solutions. In August 2023, the National Research and Innovation Agency (BRIN) revealed that climate change triggered an explosion in the populations of brown planthoppers (BPH) that are destroying rice plants in Indonesia.

Farmland is agricultural land that is used for crops, pasture or grazing. According to the USDA, the number of farms and farm size is decreasing every year. For instance, according to the National Agricultural Statistics Service, as of 2021, the total land in farms in the United States was approximately 895.3 million acres, which is a decrease of 1.3 million acres from 2020. The number of farms in the United States for 2019 is estimated at 2,023,400, down 5,800 farms from 2018. Total land in farms, at 897,400,000 acres, decreased 2,100,000 acres from 2018. The main reason behind decreasing farmland is increase in urbanization. Rapid urbanization has had a detrimental impact on land availability. Hence with limited farmland it is essential to increase the crop yield which can be achieved through the use of crop protection chemicals

The increasing prevalence of pest attacks poses a significant threat to global food security. Pests such as insects, fungi, and virus can cause severe damage to crops leading to significant yield losses and economic hardship for farmers. Populations of three major insect pests namely codling moth, peach twig borer and oriental fruit moth are projected to increase mainly due to rising temperatures, according to a study published in the journal Science of the Total Environment by a team of researchers at University of California (UC) Agriculture and Natural Resources and the U.S. Department of Agriculture California Climate Hub. To protect crops from these pests farmers rely on a variety of crop protection chemicals including insecticides, fungicides and biocides. These chemicals help to control pest populations and prevent the spread of diseases ensuring a stable and reliable food supply.

Key companies profiled in the Crop Protection Chemicals Market are Gowan Group, Bayer Crop Science, Syngenta, UPL, BASF SE, Corteva Agriscience, Bioceres Crop Solutions, FMC Corporation, Nufarm Limited, Sumitomo Chemical Co., Ltd.

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