Crop Protection Chemicals Market Report

The crop protection chemicals market expansion is being driven by the increasing population which creates need to grow more crops for consumption. The use of crop protection chemicals is gaining demand since these chemicals protect the crops from pests, insects and weed. This increased agricultural output is necessitating food security for the growing population. Besides, the deteriorating climatic conditions have affected the agricultural productivity and vulnerability to pest attacks. As a result, every shift in the climate causes deviations in farming practises, resulting in a decrease in production. In addition, unpredictable rains in many places increased the fungus population. These factors have boosted farmers' confidence on the products for effective pest protection, ultimately boosting market expansion. Furthermore, research and development of novel crop protection chemicals such as biopesticides and bio fungicides is also driving the market expansion.

Increased use of chemicals degrades the quality of soil while affecting the output. Users are exposed to number of difficulties such as pesticide residue limits and other regulations imposed by regulatory organisations in regions like Europe and North America in order to reduce the environmental effect of pesticide use. As a result of this, the production of crop protection chemicals has reduced. The market is also being affected by the availability and rising demand for alternatives such as bio-based formulations and organic formulations for wider adoption in the global market. These challenges are expected to impede the crop protection chemicals market in the near future.

Several market players are focusing on research and development activities in order to develop products that enhances their product portfolio. They are also implementing various market strategies such as new produce launches, collaborations and mergers in order to gain a competitive edge in the market. For example, in January 2023, Bayer and Oerth Bio, an agricultural biotech business had established a collaboration to create the next generation of more sustainable crop protection solutions. In April 2022, BASF had launched the Exponus insecticide chemical which can protect crops while increasing output. It is approved for use on a variety of widely grown crops in the Oil Seeds, Pulses and Vegetables segment to manage critical insect pests such as caterpillars and thrips. Furthermore, in December 2022, FMC Corporation, a leading global agricultural sciences company, and Micropep Technologies, a global leader in micro-peptide technology had announced a strategic collaboration to develop biological solutions to control destructive herbicide-resistant weeds that reduce crop yields. 

Asia Pacific is anticipated to hold a significant share in the crop protection chemicals market owing to the rising awareness of these products among crop growers. Additionally, expansion of high-value and export-oriented crop farming regions is expected to promote market growth in Asia Pacific. The use of pesticides in this region can be attributed to the increasing population which is driving the demand for more crops.  Moreover, South America is also witnessing growth in the crop protection chemicals market owing to its large-scale consumption of pesticides in the region. Also, rising commodity exports, increased cultivation area and advanced farm inputs such as these protection solutions is driving the market growth in the region. Furthermore, the crop protection chemicals market is gaining traction in Europe region due to increasing awareness of integrated pest management techniques, innovations in agricultural practises and the need to maximise output per hectare. In addition, the presence of major market participants such as Bayer and BASF SE in the region is also propelling the market development. Along with Europe, North America is also likely to witness a substantial growth in the crop protection chemicals market. This growth is influenced by declining arable land and food security. Increasing adoption of innovative technology and advanced farming practices is driving the growth in this region over the forecast period.