LONDON, September 17, 2021 / PRNewswire / – According to the United Nations, the world’s population is expected to reach 9.8 billion by 2050, putting unsustainable pressure on arable land. A key way to ensure food security is to maximize crop yields. Studies indicate that arable land will decrease by 60% per person in emerging economies. Crop protection chemicals improve crop yield and quality in the safest way as they are constantly evolving in terms of efficiency and compliance with regulatory standards. There are around 800 active ingredients available in the crop protection chemicals market – an eight-fold increase since the 1970s, with insecticides, fungicides and herbicides being the most commonly used.
In 2018, the phytosanitary products market was worth $ 64.3 billion and we expect this $ 83.5 billion by 2025, registering a CAGR of 5.3% for the period 2021 to 2025.
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Fungicides play a vital role in preventing a 70% drop in the yield of grains, vegetables and crops
Herbicides have long dominated the crop protection chemicals market with a market share of over 50% as they regulate the growth of weeds which can have a detrimental effect on crop yield and area. Fungicides are the second most commonly purchased crop protection chemicals in all geographies. Fungal infections are a major concern for farmers as millions of tonnes of wheat, corn and rice are destroyed every year. It is estimated that the yield of grains, fruits and vegetables could drop by 70% without the use of fungicides, which underlines the importance of the global chemicals market for crop protection.
Crop protection chemicals and sustainable agriculture work in tandem to transform agriculture
Crop protection chemicals are essential for sustainable agriculture, agronomy and societal changes having a transformational impact on the global market. The explosive growth of the Internet of Things (IoT) in agriculture has led to unprecedented breakthroughs in pest control on the ground. Farmers can choose from a wide variety of sensors to eliminate pests and take a proactive approach with analysis.
Integrated pest management is an important part of sustainable agriculture with IPM focusing on biological, chemical, physical and cultural techniques to control insects, fungi and weeds. IPM has become an integral part of government policy around the world and the EU considers it to be the cornerstone of pest control.
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Record pesticide registrations make Brazil essential in crop protection chemicals market
Latin America and Asia Pacific are expected to dominate the crop protection chemicals market for the foreseeable future. Latin America shows great promise and is expected to grow at a CAGR of 6.3% from 2021 to 25. Fungus, weed and worm infestations in the region are being overcome by rapid technological improvements in farming methods. Chemical manufacturers would do well to target Brazil and Argentina in Latin America the former being one of the largest importers in the phytosanitary chemicals market.
Within the Asia Pacific Region, China and India alone represent a third of the world’s population and more than half of india citizens derive their livelihood from agriculture. Since 2015, China adopted a “zero growth” plan to carefully monitor crop protection chemicals being deployed in the country. In addition, uncertain weather conditions such as floods or sudden droughts can have a catastrophic impact on local agricultural production. Finally, countries are strengthening their regulatory regimes by phasing out certain active pharmaceutical ingredients, adding to the challenges of the crop protection chemicals market.
Consolidation and Japanese Preeminence Characterizes the Crop Protection Chemicals Market
Two decades ago, there were over 10 major manufacturers actively involved in the crop protection chemicals market. Fierce competition and strict standards reduced market players as they were forced to consolidate. In 2018. Syngenta, Bayer Crop Science, BASF SE, Corteva (DowDuPont), FMC and ADAMA had over 50% market share in the crop protection chemicals market. An interesting trend to note is the preeminence of Japanese companies as the country includes a quarter of the products developed in the crop protection chemicals market.
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