The report predicts the global Asia-Pacific Crop Protection Chemicals Market to grow at a healthy CAGR over the forecast period from 2022-2031.
The crop protection market consists of crop protection chemicals or agrochemicals, seeds, and genetically modified (GM) crops. Crop protection chemicals are the most dominating segment of this market in terms of market share as well as product innovations. Crop protection chemicals are further classified as herbicides, insecticides, fungicides, bio-pesticides, and adjuvants. As the latter two segments hold a minor market share, in general practice, pesticides are referred to as crop protection chemicals.
Factors such as toxicity of crop protection products, environment friendliness, innovative production practices, new product offerings, increased availability, and advent of new pests are increasing the market for biopesticide industry, globally. Biopesticides are beneficial to ecological chain and environment and are also effective in controlling agricultural pest. The hazards caused to the environment by chemical pesticide residues can be alleviated with the help of Biopesticides Synthetic pesticides, which are typically manufactured from petrochemical or inorganic raw materials, are further segmented as insecticides, herbicides and fungicides. Crop protection chemicals market is dominated by herbicides, accounting for over 41% of the total pesticide volume demand in 2011. Being the worlds largest as well as most populous continent, Asia-Pacific is one the key markets for crop protection chemicals. Asia-Pacific accounts for almost 30% of land available on earth and 60% of human population.
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Increasing need for food crop, with overgrowing population in the region has fueled the use of pesticides for enhancing crop yield. Use of pesticides is becoming a common practice in countries such as India, China, and other less developed countries in the region, leading to the growth in areas where there had previously been very less or no pesticide usage. . In addition to this, decreasing arable land per person in India, China, and especially in South East Asia is a very serious concern, where arable land per person is decreased up to 0.1 hectares per person. The Asia-Pacific market for crop protection chemicals, in terms of active ingredient volume was estimated at 636 KT in 2022 and is expected to reach 843.5 KT by 2031.
This report estimates the market size of the Asia-Pacific crop protection chemicals market both in terms of active ingredient volume as well as revenue. The market has been further segmented on the basis of crop types such as cereals, grains, oilseeds, and vegetables as well as by sub-segmentation of insecticides, fungicides, and herbicides such as glyphosate, atrazine, and 2,4-D. This segmentation is given for major regions and key countries in those regions. Market drivers, restraints and challenges, raw material, and product price trends are discussed in detail. Market share by participants for the overall market is discussed in detail in the report. We have also profiled leading players of this industry including Bayer CropScience (Germany), BASF (Germany), Monsanto (U.S.), and Dow Agrosciences (U.S.).
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