Crop Protection Chemicals Market to Expected To Hit A CAGR Of 5.5% By 2026

Crop protection is a science of protecting plants/crops from weeds, pests, and various diseases that damage crops and trees and the crop yield. Crop protection chemicals are used to keep weeds and pests from destroying crops, and to enhance crop yield.

The global crop protection chemicals market is estimated to value of over US$ 60 Bn in 2017 and is projected to register a CAGR of 5.5% in terms of value during the forecast period 2017–2026. The first five-year cumulative revenue (2017–2021) is projected to be over US$ 330 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.

Increasing need for food protection and rising food demand across the globe are major factors driving growth of the global crop protection chemicals market. A major factor hampering growth of the global crop protection chemicals market is stringent regulation towards use of synthetic pesticides.

The global crop protection chemicals market is segmented into product type, form, crop type, and region. On the basis of product type, the global market is segmented into herbicide, fungicide, insecticide, and others (Others segment includes acaricides, nematicides, and rodenticides). The herbicides segment is estimated to account for highest revenue share in the global market; whereas the fungicide segment is expected to register highest growth over the next ten years.

Among the product type segments, the herbicide segment in the global crop protection chemicals market is estimated to account for a majority revenue share of US$ 25.4 Bn in 2017.

On the basis of form, the global market is segmented into liquid and solid. The liquid segment is expected to account for highest revenue share, and is expected to register highest CAGR over the forecast period.

On the basis of crop type, the global market is segmented into cotton, fruits & vegetables, cereals, rice, maize, and others (Others segment includes sugarcane & ornamentals). The fruit and vegetable segment is expected to account for highest market share in the global market; whereas the cereals segment is expected to register highest growth in terms of revenue over the forecast period.

Among the crop type segments, the fruits & vegetables segment is expected to account for major revenue share of US$ 16.0 Bn in 2017.

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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is estimated to account for highest share in terms of revenue in the global market. The Asia Pacific crop protection chemicals market is expected to witness highest growth in terms of revenue over the forecast period.

Among the regional markets such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, the market in Europe is estimated to account for US$ 16.4 Bn in 2017.

Key players operating in the global market include BASF SE, Arysta LifeScience Corporation, Bayer Crop Science AG, Sumitomo Chemical Company Limited, DowDuPont Inc. (E. I. du Pont de Nemours and Company and The Dow Chemical Co.), FMC Corporation, Marrone Bio Innovations Inc., Monsanto Company, American Vanguard Corporation (AMVAC Chemical Corporation).

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