According to the latest report by Reports and Data, the global crop protection market is expected to reach USD 82.01 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 3.3%. The steady revenue growth in the market is mainly attributed to the rapidly increasing global population, rising food demand, and the growing demand for agrochemicals to prevent crop damage and loss. The market growth is also boosted by the adoption of technologically advanced agricultural practices, such as Integrated Pest Management (IPM) and precision farming, and the surging popularity of indoor farming and horticulture.

Crop Protection Chemicals Market: Drive factors

The global crop protection market is expected to reach USD 82.01 billion by 2028 with a CAGR of 3.3%, driven by several factors. Firstly, the market is growing due to the rapidly increasing global population, which has led to rising food demand. Secondly, there is a growing demand for agrochemicals to prevent crop damage and loss. Thirdly, the adoption of advanced agricultural practices such as Integrated Pest Management (IPM) and precision farming is contributing to market growth.

Some of the major players in the market include

• Bayer Cropscience AG
• Syngenta AG
• The Dow Chemical Company
• Dupont, BASF SE
• Sumitomo Chemical Co., Ltd

The global crop protection chemicals market has been segmented based on type, source, form, crop type, mode of application, and region, and the report provides detailed revenue projections for each of these segments.

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Crop protection are used to protect crops against various plant diseases, pests, rodents, birds, bacteria, and weeds. Farmers use these chemicals to enhance agricultural productivity by inhibiting the growth of weeds and pests that cause damage to crops and lower crop yield. The most commonly used crop protection chemicals, such as pesticides, herbicides, rodenticides, insecticides, and fungicides, disrupt the biological mechanism of pests and eradicate them, thus efficiently enhancing crop quality and strengthening pest-resistance ability.

The report highlights that the herbicides segment leads in the global market in terms of revenue share, followed by cereals and grains as the leading crop type segment, accounting for the largest revenue share of around USD 25 billion in 2020. The Asia Pacific region accounted for the major revenue share of 80% in the global market in 2020, with increasing agricultural activities in countries such as China and India, shifting preference from synthetic pesticides to bio-based pesticides, increasing use of GMO-certified agrochemicals, and rising RD investments for new and more advanced crop protection solutions expected to drive the market growth.

Crop Protection Chemicals Market: Notable Innovation

The global crop protection chemicals market has been witnessing notable innovation in recent years. Agrochemical companies are investing in research and development activities to formulate new active ingredients for agrochemicals, which is expected to emerge as a major factor boosting the growth of the global crop protection chemicals market. Furthermore, rising incidence of food-borne diseases, growing adoption of GMO-certified pesticides, and increasing import and export of crop protection agents are also driving the demand for innovative crop protection solutions. The industry is also witnessing a shift towards bio-based pesticides, which are considered safer for the environment and human health. In addition, the adoption of advanced technologies such as precision farming and Integrated Pest Management (IPM) is further contributing to the development of innovative crop protection solutions.

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