Crop Protection Chemicals Global Market Report 2024

Crop protection chemicals are a crucial class of agrochemicals used to manage and mitigate the impact of weeds and plant diseases, safeguarding crops from potential deterioration caused by pests and insect infestations.

The primary categories of crop protection chemicals include fungicides, insecticides, nematicides, and herbicides. Fungicides, for instance, are pesticides employed by farmers to control fungi that pose a threat to plants in fields. These chemicals can be either synthetic or bio-based and are applied through various methods, such as foliar spray, soil treatments, and seed treatments. Common applications of crop protection chemicals span across grains and cereals, pulses and oilseeds, fruits and vegetables, as well as commercial crops.

The crop protection chemicals research report is one of a series of new reports that provides crop protection chemicals statistics, including crop protection chemicals industry global market size, regional shares, competitors with crop protection chemicals share, detailed crop protection chemicals segments, market trends and opportunities, and any further data you may need to thrive in the crop protection chemicals industry. This crop protection chemicals research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The crop protection chemicals market size has grown strongly in recent years. It will grow from $66.18 billion in 2023 to $70.94 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth observed in the historic period can be attributed to heightened demand for agricultural pest and disease control, efforts to improve crop yields, innovations in pesticides and herbicides, advancements in farming practices, and the impact of increased population growth on agricultural needs.

The crop protection chemicals market size is expected to see strong growth in the next few years. It will grow to $93.66 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period can be attributed to the rising global demand for food, the adoption of precision agriculture, challenges posed by emerging crop diseases, increasing trade and export demands, and advancements in biotechnology and genetic modification within the agricultural sector. Key trends expected in the forecast period include the implementation of innovative organic farming practices, the integration of data analytics and AI in agriculture, the adoption of integrated pest management strategies, a focus on sustainability practices, and the increasing adoption of Industry 4.0 technologies.

The growth of the crop protection chemicals market is significantly driven by the increasing demand for food, prompted by the rising global population. Food, as a vital source of nutrition, faces a growing demand in tandem with population growth. The demand for high-yielding crops and effective crop protection chemicals is consequently on the rise. According to the Food and Agriculture Organization (FAO), approximately 2.37 billion people lacked sufficient food access in 2020, and projections indicate that over 660 million people could face famine by 2030. This underscores the imperative role of crop protection chemicals in meeting the escalating need for food amid a growing population.

Anticipated growth in agricultural productivity is poised to be a key driver for the crop protection chemical market. Agricultural productivity, measured by the market value of crop yield relative to utilized resources, including land, labor, and capital, is a critical metric. Crop protection chemicals play a crucial role in safeguarding seeds and crops against pests and insects, thereby enhancing agricultural productivity. Statistics from Eurostat reveal a 4.2% increase in harvested grain production to 297.5 million metric tons in Europe in November 2022. Globally, the Food and Agriculture Organization reports a 52% surge in primary crop production between 2000 and 2020, reaching 9.3 billion tons in 2020. The continuous growth in agricultural productivity is expected to be a driving force for the crop protection chemical market.

A prominent trend in the crop protection chemicals market is the emergence of technological advancements. Major companies within the sector are actively engaged in the development of innovative technological solutions to cater to market demands and enhance their growth prospects. Syngenta Crop Protection, a Switzerland-based agricultural science and technology company, introduced the PLINAZOLIN technology in November 2021. This technology, featuring IRAC Group 30, presents a novel mode of action for protecting crops from a diverse range of pests. Replacing less effective chemicals, PLINAZOLIN technology addresses resistance control tactics with improved efficiency, enhanced stability in sunlight, and increased rain resistance. These advancements contribute to the overall development and progress of the crop protection chemicals market.

Major players in the crop protection chemicals market are strategically innovating products like EXPLOYO Vit to bolster their market presence and profitability. Launched by Syngenta AG in May 2022, EXPLOYO Vit is a natural, pheromone-based, and sprayable solution. Specifically targeting the vine moth Lobesia botrana, a notorious grape-feeding pest affecting wine crops, this innovative treatment aims to enhance grape quality and yield. Syngenta's introduction of EXPLOYO Vit reflects a commitment to addressing the challenges faced by wine farmers and improving overall crop outcomes.

In January 2023, Sumitomo Chemical Co. Ltd., a prominent Japanese chemical company, completed the acquisition of FBSciences Holdings Inc for an undisclosed sum. This strategic move is geared toward the expansion of Sumitomo Chemical's bio-rational division. The acquisition positions Sumitomo Chemical to leverage the extensive line of crop improvement and protection products offered by FBSciences. These products, derived from natural sources, encompass microbial insecticides, plant growth regulators, and rhizosphere microbial products. The acquisition enhances Sumitomo Chemical's capabilities in protecting crops from pests while simultaneously improving crop quality and productivity. FBSciences Holdings Inc., a US-based plant health technologies company, plays a pivotal role in augmenting Sumitomo Chemical's portfolio in the realm of sustainable and effective crop protection solutions.

Major companies operating in the crop protection chemicals market include BASF SE, Bayer CropScience AG, Syngenta International AG, Sumitomo Chemical Company Limited, Nufarm Limited, China National Chemical Corporation, Corteva Inc., UPL Limited, FMC Corporation, American Vanguard Corporation, ISAGRO S.p.A., BioWorks Inc., Ishihara Sangyo Kaisha Ltd., Marrone Bio Innovations Inc., Rotam CropScience Ltd., Dow Inc., Arysta LifeScience Corporation, ADAMA Agricultural Solutions Ltd., Nippon Soda Co. Ltd., Gowan Company LLC, Albaugh LLC, Sinochem Group Co. Ltd., Jiangsu Yangnong Chemical Group Co. Ltd., Nutrichem Company Limited, Sipcam Oxon Group, Certis LLC, Cheminova A/S, Nihon Nohyaku Co. Ltd., Rallis India Limited, Sino-Agri United Biotechnology Co. Ltd.

North America was the largest region in the crop protection chemicals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global crop protection chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the crop protection chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The crop protection chemicals market consists of sales of rodenticides and baceticides. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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