Thecrop protection chemicals marketwas predicted to be worth $63.7 billion in 2020 and is anticipated to reach $74.1 billion by 2025, expanding at a CAGR of 3.1% from 2020 to 2025. The crop protection chemicals market is experiencing significant growth, driven by the rising global population and demand for higher crop yields. With a diverse range of products including herbicides, insecticides, and fungicides, the market is expected to continue its upward trajectory, providing opportunities for industry players to innovate and excel. As the demand for reliable and innovative crop protection solutions intensifies, stakeholders in this market will have ample opportunities to leverage emerging technologies and address the evolving needs of farmers and consumers alike.
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The herbicides segment of the Crop protection chemicals is projected to account for the largest share, by type
Herbicides are substances that kill or inhibit growth of unwanted plants (weeds). They are widely used in weed control, which helps in enhancing crop productivity and quality of output. Herbicides help in reducing soil erosion and increase soil fertility and crop yield. They are used to control or kill unwanted plants and are often known as weed killers. Use of herbicides in agroecosystems may change composition of weed populations. In wildlands, herbicides may increase the diversity of native species. Threats to plant biodiversity caused by habitat loss and invasive species are far greater than threats by use of herbicides. Some non-selective pesticides are used in weed waste grounds, industrial sites, railways, and railway embankments. Herbicides are heavily consumed in the agricultural sector and in landscape turf management.
The synthetic segment dominated the market for Crop protection chemicals by source.
Synthetic crop protection chemicals are manufactured in laboratories and are mixtures of chemicals that intend to avert, kill, repel, or destroy any pests. Synthetic crop protection chemicals are perceived to be toxic and dangerous if proper chemicals are not used. However, since the past 60 years, various innovative synthetic crop protection chemicals have been developed which are less toxic and more effective on crops. Due to innovative product development by the leading crop protection chemical manufacturing companies such as BASF SE (Germany), various new and more pest-specific synthetic crop protection chemicals are being developed, which cause less damage to the environment.
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Asia Pacific is the fastest-growing market during the forecast period in the global Crop protection chemicals
The key markets in the Asia Pacific region include China, India, Japan, and the Rest of Asia Pacific. The Asia-Pacific, a region where agricultural systems and technologies vary from one country to another, consists of about 40%, that is, 600 million hectares of the global crop area. Rice cultivation and the predominance of small-scale manufacturers are widely seen across all the countries of the Asia-Pacific region. The increasing awareness about pesticides and continuous technological advancements are factors contributing to the growth of this market. In addition to this, the growing demand for crops and rising cultivation in the countries of Asia-Pacific have forced agribusiness companies to expand their supplier and manufacturing base in the region.
