Crop protection chemicals provide the farmers a cost-efficient way to improvise the productivity. Use of agrochemicals helps the farmers to maintain or increase productivity. Herbicides, insecticides, and fungicides are the most used crop protection chemicals market. The manufacturers are involved in developing organic products and chemicals are developed that are highly selective in their action to minimize the impact on the non-target organism. The manufacturers are involved in the development of chemicals that do not affect the environment as well as the consumers.
Many crop protection chemicals are known to cause illness, which made government regulatory bodies to make stringent regulations to monitor the production and distribution of such chemicals. Increasing concerns about chemical residues in food and environmental effects of crop protection chemicals are expected to hamper the growth of the market over the forecast period. Growing awareness regarding the consumption of organic food is expected to retrain the market growth over the forecast period.
Product segment of the crop protection chemicals market includes herbicide, fungicide, insecticide, and others. Fungicides segment is estimated to grow over the forecast period owing to favorable climatic conditions promoting fungal growth.
Crop type segment includes cotton, fruits & vegetables, cereals, rice, maize, and others. Cereals crop type segment is expected to account the major share of the crop protection chemicals market. The demand for agrochemicals for cereals is expected to be high in Asia Pacific and Latin America owing to the growing population and increasing demand for healthier food products in the region.
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Regional segmentation includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is expected to be the fastest growing region owing to growing demand from China and India.
Key players operating in the global crop protection chemicals market include BASF SE, The DOW Chemical Company, E. I. du Pont de Nemours and Company, Arysta LifeScience Corporation., FMC Corporation, AMVAC Chemical Corporation., Sumitomo Chemical Co., Ltd, Bayer Cropscience AG, Marrone Bio Innovations, and Monsanto Company.