Crop Protection Chemicals Market to Reach $88.0 Billion by 2031 - Exclusive Report by Meticulous Research®

REDDING, Calif., June 27, 2024 /PRNewswire/ -- According to a new market research report titled 'Crop Protection Chemicals Market Size, Share, Forecast, & Trends Analysis by Type (Synthetic [Insecticides, Herbicides], Biological), Formulation (Solid, Liquid), Mode of Application (Seed Treatment, Soil Treatment), Crop Type—Global Forecast to 2031,' by Meticulous Research^®, the crop protection chemicals market is projected to reach $88.0 billion by 2031, at a CAGR of 3.3% from 2024 to 2031.

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Crop protection chemicals protect crops from pests, diseases, and weeds. These chemicals are commonly used in modern agriculture to enhance crop yield and quality by safeguarding plants from threats that could negatively impact their growth and productivity. In addition, crop protection chemicals provide farmers with a cost-effective way of improving their crops' yield and quality. They also make harvesting more straightforward and maintain consistent yields from year to year.

The growth of this market can be attributed to several factors, including the rising demand for low-cost crop protection solutions, the growing need to increase crop yield and quality, growing awareness about environmental safety, increasing adoption of advanced agricultural practices and technologies, and rapidly decreasing agricultural land. Moreover, the rising focus on integrated pest management, the growing adoption of biological seed treatments, and emerging economies in Asia-Pacific and Latin America are expected to generate significant growth opportunities for the stakeholders in the crop protection chemicals market.

However, growing concerns over chemical residues in food and stringent and non-standardized regulations hinder the growth of this market. On the other hand, lengthy product registration and approval processes and the complicated process of developing film coatings for seed treatment pose a major challenge to market growth. The latest trends in the crop protection chemicals market are sustainability, bio-based solutions, digitalization, and precision agriculture.

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Key Players:

The key players operating in the crop protection chemicals market include BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (U.S.), FMC Corporation (U.S.), Novozymes A/S (Denmark), Nufarm Limited (Australia), Syngenta AG (Switzerland), UPL Limited (India), Sumitomo Chemical Co., Ltd. (Japan), and Jiangsu Yangnong Chemical Co. Ltd (China).

The crop protection chemicals market study presents historical market data in terms of value & volume (2022 and 2023), estimated current data (2024), and forecasts for 2031. This market is segmented by type, formulation, mode of application, crop type, and country.

Key Findings in the Crop Protection Chemicals Market Study:

Based on type, the crop protection chemicals market is segmented into synthetic crop protection chemicals and biological crop protection chemicals. In 2024, the synthetic crop protection chemicals segment is expected to account for the largest share of 91.3% of the crop protection chemicals market. However, the biological crop protection chemicals segment is projected to witness the highest growth rate during the forecast period of 2024–2031. This growth is driven by the increasing adoption of organic farming, growing environmental and public health concerns regarding the use of chemical crop protection products, high demand for chemical residue-free agricultural products, and the initiatives by governments worldwide to promote the use of biological crop protection products.

Based on formulation, the crop protection chemicals market is segmented into liquid formulation and dry formulation. In 2024, the liquid formulation segment is expected to account for the larger share of the crop protection chemicals market. The large market share of this segment can be attributed to the uniform & easy application of liquid form, better performance, and higher effective duration (up to 6 months) than dry form (up to 3 months).

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Based on mode of application, the crop protection chemicals market is segmented into foliar spray, seed treatment, soil treatment, and other modes of application. In 2024, the foliar spray segment is expected to account for the largest share of the crop protection chemicals market. The large market share of this segment can be attributed to its high efficiency, uniform distribution, and minimum to no wastage of crop protection chemicals.

However, the seed treatment segment is projected to witness the highest growth rate during the forecast period of 2024–2031.

Based on crop type, the crop protection chemicals market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops. In 2024, the cereals & grains segment is expected to account for the largest share of 37.4% of the crop protection chemicals market. The large market share of this segment can be attributed to the growing need to increase cereal & grain production, minimize cereal & grain loss due to pests and diseases, and the increasing use of these crops in animal feed, biofuel, and starch & ethanol production.

Based on geography, in 2024, Latin America is expected to account for the largest share of 32.1% of the crop protection chemicals market. The crop protection chemicals market in Latin America is estimated to reach $22.3 billion in 2024. The large share of this region is attributed to several key factors, including the growing population and food requirements, rapid expansion in the agriculture sector, and the growing need to increase crop yield. Also, rising awareness among farmers about the benefits of using high-end agro-products and increasing adoption of organic farming practices further support the growth of this market.

However, the market in Europe is slated to register the highest growth rate during the forecast period. This regional market's growth is driven by the growing demand for organic products, increasing government support, increased adoption of natural products over synthetic products, and rising health consciousness.

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Scope of the Report:

Crop Protection Chemicals Market Assessment—by Type

• Synthetic Crop Protection Chemicals
  • Herbicides
    • Glyphosate
      • Potassium Glyphosate
      • Isopropylamine Glyphosate
      • Other Salts of Glyphosate
    • Acetochlor
    • 2,4-D
    • Atrazine
    • Other Herbicides
  • Insecticides
    • Organophosphates
    • Pyrethroids
    • Carbamates
    • Organochlorides
    • Other Insecticides
  • Fungicides
    • Triazole
    • Strobilurins
    • Chloronitriles
    • Dithiocarbamates
    • Phenylamides
    • Benzimidazoles
    • Other Fungicides
  • Other Synthetic Crop Protection Chemicals
• Biological Crop Protection Chemicals
  • Bioinsecticides
  • Biofungicides
  • Bionematicides
  • Bioherbicides
  • Other Biological Crop Protection Chemicals

Crop Protection Chemicals Market Assessment—by Formulation                

• Liquid Formulation
• Dry Formulation

Crop Protection Chemicals Market Assessment—by Mode of Application  

• Foliar Spray
• Seed Treatment
• Soil Treatment
• Other Modes of Application

Crop Protection Chemicals Market Assessment—by Crop Type

• Cereals & Grains
  • Maize/Corn
  • Wheat
  • Other Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Other Crops 

Crop Protection Chemicals Market Assessment—by Geography

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • U.K.
  • Rest of Europe (RoE)
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Thailand
  • Vietnam
  • Indonesia
  • Malaysia
  • Rest of Asia-Pacific (RoAPAC)
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile
  • Rest of Latin America (RoLATAM)
• Middle East & Africa

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Related Reports:

Asia-Pacific Crop Protection Chemicals Market by Type (Synthetic [Herbicides, Insecticides], Biological [Bioinsecticides, Bioherbicides]), Formulation (Liquid, Dry), Mode of Application (Seed Treatment, Soil Treatment), Crop Type - Forecast to 2030

North America Crop Protection Chemicals Market by Type (Synthetic [Herbicides, Insecticides], Biological [Bioinsecticides, Bioherbicides]), Formulation (Liquid, Dry), Mode of Application (Seed Treatment, Soil Treatment), Crop Type - Forecast to 2030

Europe Crop Protection Chemicals Market by Type (Synthetic [Herbicides, Insecticides], Biological [Bioinsecticides, Bioherbicides]), Formulation (Liquid, Solid), Mode of Application (Seed Treatment, Soil Treatment), Crop Type - Forecast to 2030

Latin America Crop Protection Chemicals Market by Type (Synthetic [Herbicides, Insecticides, Fungicides], Biological), Form (Liquid, Solid), Mode of Application (Foliar Spray, Seed Treatment, Soil Treatment), and Crop Type - Forecast to 2030

Agricultural Micronutrients Market by Type (Zinc, Iron, Copper, Molybdenum), Crop Type (Cereals & Grains, Fruits & Vegetables), Form (Non-chelated, Chelated), Mode of Application (Soil, Foliar, Fertigation, Seed Treatment) - Global Forecast to 2030

Controlled Release Fertilizers Market by Type (Slow-release Fertilizers, Nitrogen Stabilizers, Coated & Encapsulated Fertilizers), End Use (Agriculture, Non-agriculture), and Mode of Application (Fertigation, Foliar, Soil) - Global Forecast to 2030

Biofertilizers Market by Microorganism Type (Nitrogen-fixing Microbes {Rhizobia Bacteria}, Phosphate Solubilizing Microbes), Crop Type (Cereals & Grains, Oilseeds & Pulses), Mode of Application (Seed Treatment, Fertigation), Form - Global Forecast to 2029

Seed Coating Market by Type (Polymers, Colorants, Minerals/Pumice), Active Ingredients Type (Protectants, Nutrients, Phytoactive Promoters), Crop Type (Cereals and Grains, Oilseeds and Pulses, Vegetables, Flowers and Ornamentals) - Global Forecast to 2030

Seed Treatment Market by Type (Chemical, Biological), Formulation (Liquid, Dry), Application Technique (Seed Coating, Seed Dressing), Crop Type (Cereals & Grains, Oilseeds), Function (Seed Protection, Seed Enhancement) - Global Forecast to 2029

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