DUBLIN--(BUSINESS WIRE)--The "Crop Protection Chemicals Market - Segmented by Product, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global market for pesticides was worth USD 48.97 billion in 2017 and is expected to reach USD 55.96 billion by 2023, registering a CAGR of 2.7%.
Adoption of Bio-pesticides
Bio-pesticides are less harmful as compared to regular synthetic pesticides. As a result, they typically affect only the target pest and other organisms that are closely related to it, as against broad-spectrum conventional pesticides, which can be harmful to other organisms.
Although the bio-pesticide segment generated a small fraction of the revenue generated by the chemical industry, the segment is likely to witness a CAGR of 3.4% during the forecast period.
Growing Food Demand & Shrinking Land
The global population is increasing exponentially and every day, nearly 200,000 people are contributing to the global food demand. According to the US Population Division, the global population has increased nearly fourfold in the past 100 years and is projected to reach 9.2 billion by 2050. Supplying food to this growing population has become a global challenge.
Per capita farmland in 2030 is expected to decrease to 1800 m from 2,200 m in 2005. Various crop pests contribute to the decrease, causing 10-16% global crop losses annually. Thus, crop protection is the key strategy adopted by farmers to meet global food demand. Pesticides are a proven technology used to increase global food production.
- Adoption of Biopesticides
- Organizations Promoting Integrated Pest Management Techniques
- Adoption of Genetically Modified (GM) Crops
- Increasing Food Demand and Diminishing Arable Land
- Major Regions Facing Pesticide Ban
- Low Per Capita Use of Pesticides in Several Regions
- Increasing R&D Costs
- Increasing Demand for Food Safety and Quality
- BASF SE
- Bayer CropScience AG
- Arysta Life sciences
- DowDupont Inc.
- FMC Corp.
- Nufarm Ltd.
- Sumitomo Chemicals
- ISAGRO Spa
- Bioworks Inc.
- Ishihara Sangyo Kaisha Ltd.
- Marrone Bio Innovations Inc.
- Nippon Soda
- UPL Ltd.
Key Topics Covered
2. Research Scope and Methodology
3. Market Overview
4. Market Dynamics
5. Industry Analysis
6. Market Segmentation
7. Competitive Landscape
8. Company Profiles
9. Future Outlook of the Market
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