The crop protection chemicals market size is geared up for sustained growth, with a projected CAGR of 3.1% set to elevate the market's value to USD 74.1 billion by 2025. Building on the momentum of a market worth USD 63.7 billion in 2020, this industry is poised to continue playing a crucial role in safeguarding crop health and yield. The crop protection chemicals market, also known as agrochemicals or pesticides, includes a wide range of chemicals used to protect crops from pests, diseases, and weeds. The market is driven by the increasing demand for food due to the growing global population, which has led to an increase in agricultural production.
The market can be segmented based on the type of chemicals, which include herbicides, insecticides, fungicides, and others. Herbicides are the most widely used chemicals in the crop protection chemicals market, followed by insecticides and fungicides.
Biopesticides are pesticides produced naturally, with minimum usage of chemicals. Since growing environmental considerations and the pollution potential and health hazards from many conventional pesticides are on an increase, the demand for biopesticides has been rising steadily in all parts of the world. Biopesticides are growing in popularity, due to their less or non-toxic nature as compared to synthetic pesticides. Moreover, biopesticides provide more targeted activity to desired pests, unlike conventional pesticides that often affect a broad spectrum of insects, birds, and mammalian species. Further, biopesticides can be very effective in small quantities, offering lower exposure and are quickly decomposable; they leave virtually no harmful residue after application.
The Asia-Pacific region dominates the crop protection chemicals market, with China and India being the major contributors to the market growth. The demand for crop protection chemicals is also increasing in other regions, such as North America, Europe, and South America, due to the increasing adoption of modern agricultural practices and the need for high-yielding crops.
The crop protection chemicals market is highly competitive, with major players including Bayer AG, BASF SE, Syngenta AG, DowDuPont Inc., and FMC Corporation. These companies are focusing on developing new and advanced crop protection chemicals to meet the growing demand for high-quality crops.
However, the use of crop protection chemicals has also been associated with negative impacts on the environment and human health. This has led to increased scrutiny and regulation of the industry by governments and international organizations, and a growing demand for safer and more sustainable alternatives to traditional crop protection chemicals.
