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The report "Crop Protection Chemicals Market by Type (Herbicides, Insecticides, and Fungicides), Origin (Synthetic, and Biopesticides), Crop Type (Cereals & Oilseeds, Fruits & Vegetables), Mode of Application, Form, and by Region - Global Forecasts to 2021",The global crop protection chemicals market is projected to grow at a CAGR of 5.15% from 2016 and reach USD 70.57 Billion by 2021This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such as BASF SE (Germany), E.I. du Pont de Nemours and Company (U.S.), The Dow Chemicals Company (U.S.), Syngenta AG (Switzerland), and Sumitomo chemicals Co., Ltd. (Japan).
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The global crop protection chemicals is projected to grow at a CAGR of 5.15% from 2016 to 2021. The rising need of food security for growing population, and increasing crop loss due to pest attacks, along with changing farming practices from traditional to conventional, have been of importance to the growth of the global crop protection chemicals market. The crop protection chemicals are used for minimizing the crop loss and maximizing the crop yield for rapidly growing food demand for the increasing population. Hence, crop protection chemicals will be viewed as a business opportunity in the next five years. As a result, many multinational players have entered into the production of varied types of crop protection chemicals, which can be used for destroying different types of pest attacks.
Significant growth expected in the herbicides segment
Crop protection chemicals find a wide range types which can be used on a wide variety of pests. The important ones are herbicides, insecticides and fungicides. Herbicides are most widely used and are projected to be the fastest-growing types in the coming five years. This is mainly due to the high utility of herbicides for destroying various herbs and unwanted weeds to minimize the crop loss.
The cereals & oilseeds segment is expected to be the fastest-growing market during the forecast period
The main types of crops on which crop protections chemicals are used are cereals & oilseeds, fruits & vegetables and others, which include sugarcane, plantation crops, and turfs & ornamentals. The cereals & oilseeds segment is projected to be the fastest-growing market from 2016 to 2021. Rising demand for cereals & oilseeds and high crop loss mainly due to hazardous herbs and weeds are triggering the market for crop protection chemicals used on cereals & oilseeds.
Increasing need for food security, high investment in R&D, and changing farming practices key to success in the South American region
South America is one of the largest contributors to the global crop protection chemicals due to the increase in usage of crop protection chemicals through advanced agricultural techniques and rising need for food security in the South American countries. Brazil and Argentina constituted the largest country-level markets in the South American region in 2015. High market penetration by the leading crop protections chemical companies and growing need of crop protection for heavy crop loss due to different pest attacks, as well as the climate changes are the main factors influencing the growth of the crop protection chemicals market in South America.
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