Northbrook, IL 60062 -- (SBWIRE) -- 03/03/2023 -- The global Crop protection chemicals market size is estimated to be valued USD 63.7 billion in 2020 and is projected to reach a value of USD 74.1 billion by 2025, growing at a CAGR of 3.1% during the forecast period. The growth of this market is attributed to an increasing need for food security of the growing population.

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During the forecast period, it is expected that herbicides will hold the largest market share in the crop protection chemicals market. Herbicides are commonly used to control weeds, which enhances crop productivity and output quality. They also help in reducing soil erosion, increasing soil fertility, and boosting crop yield. Herbicides are often referred to as weed killers as they are used to control or kill unwanted plants.

The market for crop protection chemicals has been segmented into feed grade and nutrition grade based on type. Among the different forms of crop protection chemicals, the liquid segment is estimated to hold the largest share during the forecast period. Liquid forms of crop protection chemicals are preferred by suppliers and end-users due to their longer shelf-life, easy handling, transportation, and application. Moreover, they are cost-effective, eco-friendly, and sustainable. Companies are investing in the technological development of crop protection chemicals in liquid forms.

Synthetic crop protection chemicals are estimated to account for the largest market share during the forecast period. These chemicals are manufactured in laboratories and are mixtures of chemicals that intend to avert, kill, repel, or destroy any pests. While they are perceived to be toxic and dangerous, various innovative synthetic crop protection chemicals have been developed over the past 60 years, which are less toxic and more effective on crops. The leading crop protection chemical manufacturing companies are investing in innovative product development, which has led to the development of new and more pest-specific synthetic crop protection chemicals that cause less damage to the environment.

The foliar spray mode of application is estimated to account for the largest market share during the forecast period. It is the most widely used mode of application for crop protection chemicals and can be used for herbicides, insecticides, as well as fungicides. It is majorly used for spraying herbicides and insecticides due to labor shortage for removing unwanted weeds manually and for destroying insect attacks on crops. Foliar spray or foliar feeding is a technique of feeding plants by applying liquid crop protection chemicals directly to their leaves.

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The cereals & oilseeds segment is estimated to account for the largest market share in terms of value during the forecast period. The demand for cereals & oilseeds is increasing significantly across the globe owing to the increasing demand for food. South America is estimated to hold the largest market share during the forecast period. South America is an emerging agricultural powerhouse and is growing at a rapid pace above the global growth average. The economic growth in South America has been stimulated by democratization, economic reforms, and the foundation of two trading blocs namely, Mercosur and the Andean Pact.

The regulatory framework in South America is quite weak as compared to North America and Europe. The South American Pesticide Action Network controls the regulatory issues in the region. The international trade system from the WTO for regional and bilateral trade deals also undermines national pesticide laws and threatens the ability of South American nations to prohibit dangerous chemicals from being used. This is especially observed in the case of WTO's demand for establishing certain common minimum standards for pesticides among countries.

In conclusion, this report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the Crop protection chemicals market. The report consists of the profiles of leading companies such as BASF SE, The Dow Chemicals Company, Dupont, Sumitomo Chemical Co., Ltd, Syngenta AG, Bayer Cropscience AG, FMC Corporation, Nufarm Limited, Adama Agricultural Solutions, Verdesian Lifesciences, Bioworks Inc., Valent US, Arysta Lifescience Corporation, American Vanguard Corporation, Chr. Hansen, Corteva Agrisciences, UPL Limited, Jiangsu Yangnong Chemical Group Co Ltd, Agrolac, Lianyungang Liben Crop Science Co.

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