The global crop protection chemicals market will derive growth from the increasing demand for healthy foods across the world. According to a report published by Fortune Business Insights, titled “Crop Protection Chemicals Market Size, Share and Industry Analysis by Product Type (Herbicides, Insecticides, Fungicides), Origin (Synthetic Chemicals, Bio-based) and Regional Forecast, 2018 – 2025”, the market was valued at at US$ 50.62 Billion in 2017, is projected to reach US$ 68.82 Billion by the end of 2025, exhibiting a CAGR of 3.73% from 2019-2026.
Bio-based Chemicals to Witness Strong Demand
The properties of bio-based chemicals such as high resistance to pests has opened up a huge potential for the products across the world. The bio-based chemicals were found to have lesser side effects on the crops, as compared to other synthetically derived products. Strict government regulations regarding the usage of chemicals on crops and plantations will, in turn, create a subsequent demand for bio-based products. The increasing demand for this type of chemicals has led to a high emphasis on the research and development of bio-based products in recent years. Additionally, the increasing investments towards development of bio products will in turn favor the growth of this segment. The bio-based chemicals accounted for 6.6% of the global market share and increasing government efforts to reduce the usage of synthetic chemicals on crops will aid the growth of this segment.
- Synthetic Chemicals
By Mode of Application
- Foliar Spray
- Soil Treatment
- Seed Treatment
By Crop Type
- Fruits & Vegetables
- Other Crops
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