Global Crop Protection Chemicals Market Set For 7.2% Growth, Reaching $93.66 Billion By 2028

The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—for a limited time only!

LONDON, GREATER LONDON, UNITED KINGDOM, November 27, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!

With an increasing demand for high-yielding crops and innovative farming practices, the crop protection chemicals market has recorded substantial growth. From an estimated value of $66.18 billion in 2023, the market will surge to a hefty $70.94 billion in 2024, marking a compound annual growth rate CAGR of 7.2%. The market's impressive performance has been spurred by a variety of factors, notably a rise in demand for agricultural pest and disease control, enhancements in pesticide and herbicide innovation, alterations in farming practices, and relentless population growth.

What Will Be The Market Size of Crop Protection Chemicals and Its Growth Rate by 2024?

In this rapidly developing setting, the crop protection chemicals market is set to witness robust growth in the coming years. The market is expected to climb to a staggering $93.66 billion by 2028 at a CAGR of 7.2%. This growth trajectory into the forecast period owes to increasing global food demand, advances in precision agriculture, emerging crop diseases, and a boost in trade and export demand. Technological advancements in crop science and genetics also play a significant role, coupled with the adoption of sustainable practices and industry 4.0.

Check more about market size here: https://www.thebusinessresearchcompany.com/sample.aspx?id=5706&type=smp

What are the Factors Driving the Crop Protection Chemicals Market's Growth?

Food, a vital necessity for growth and sustenance, is also closely linked to the expanding market for crop protection chemicals. The global population continues to increase, thus significantly driving the demand for high-yielding crops and necessary crop protection. The need for crop protection chemicals in agricultural fields thus sees a simultaneous surge. The gripping reality of food scarcity is more evident with data from the Food and Agriculture Organization FAO, stating that one in every three people, or 2.37 billion people, lacked adequate food access in 2020. The situation might worsen, with over 660 million people potentially facing famine by 2030. These concerning figures underline the urgent need for food and the subsequent market growth of crop protection chemicals.

Full report on how these drivers factor into the global crop protection chemicals market is available here: https://www.thebusinessresearchcompany.com/report/crop-protection-chemicals-global-market-report

Who are the Key Industry Players in the Crop Protection Chemicals Market?

The crop protection chemicals market hosts a variety of key players at the forefront of innovation and development. Renowned companies like BASF SE, Bayer CropScience AG, Syngenta International AG, Sumitomo Chemical Company Limited, and Nufarm Limited dominate the scene. Others, such as China National Chemical Corporation, Corteva Inc., UPL Limited, FMC Corporation, and American Vanguard Corporation, also contribute significantly to industry growth and advancement. ISAGRO S.p.A., BioWorks Inc., and Ishihara Sangyo Kaisha Ltd., among others, further reinforce the market's competitive diversity.

What are the Emerging Trends in the Crop Protection Chemicals Market?

With evolving times, technological advancements have come to lead the trends in the crop protection chemicals market. Key players are investing in new technologies, keen on optimizing their growth and meeting consumer demand. For instance, Syngenta Crop Protection, a leading industry player, launched the innovative PLINAZOLIN technology in November 2021. This novel tool protects crops from various pests and improves resistance control tactics. With added benefits like sunshine stability and rain resistance, it allows for wider spray intervals and fewer applications – ultimately enhancing crop performance and efficiency.

How is the Crop Protection Chemicals Market Segmented?

The crop protection chemicals market report is segmented as per –

1 By Type: Fungicide, Insecticide, Nematicide, Herbicide
2 By Origin: Synthetic, Bio-Based
3 By Mode Of Applications: Foliar Spray, Soil Treatments, Seeds Treatments, Other Mode Of Applications
4 By Applications: Grains And Cereals, Pulses And Oilseeds, Fruits And Vegetables, Commercials Crop

Which Regions are Key Players in the Crop Protection Chemicals Market?

As of 2023, North America stood as the largest regional player in the crop protection chemicals market. However, the forecast period anticipates rapid growth within Asia-Pacific. The crop protection chemicals market report includes comprehensive regional analysis covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Browse more similar reports-
Agricultural Implement Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/agricultural-implement-global-market-report
AgroScience Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/agroscience-global-market-report
Genetically Modified Crops Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/genetically-modified-crops-global-market-report

Learn More About The Business Research Company

The Business Research Company has published over 15000+ reports across 27 industries, spread over 60+ geographies. These reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas: +1 3156230293
Asia: +44 2071930708
Europe: +44 2071930708

Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
email us here
Visit us on social media:
Facebook
X
LinkedIn