Crop protection chemicals provide farmers with a cost-effective way of improving the yield and the quality of their crops. The traditional farming method is being replaced by commercial farming techniques with the help of high-tech machines and excellent-quality fertilizers and pesticides for crop yield protection and enhancement. This advancing technology and advancements in the agricultural industry have enabled farmers to effective pest management. The increasing awareness about pesticides has not only resulted in the increased use of pesticides but has also increased the consciousness regarding crop savings.
Based on Pest control products, the Crop Protection Chemicals market is segmented into Herbicides, Fungicides, and Insecticides. The herbicides segment is anticipated to be the fastest growing type in the Crop Protection Chemicals market due to high crop loss by harmful weeds and the high effectiveness of herbicides to reduce crop loss.
In terms of applications, the market is bifurcated into Grains & Cereals, Oilseeds, and Fruits & Vegetables. Fruits & Vegetables segment dominates the market. The Grains & Cereals segment has accounted highest market share on the back of strong consumption of Grains & Cereals like rice, oats, wheat, corn, sorghum, and barley in regions such as Asia Pacific and North America.
Asia Pacific is the largest market for Crop Protection Chemicals owing to the strong presence of the agriculture industry in countries like China, Japan, and India. The region accounts for more than 30% of the market share followed by South America (25%), Europe (20%), and North America (18%). Agriculture is the backbone of India's economy and is the largest source of livelihood in India. More than 60% of the population depend upon agriculture for their livelihood. The growth in China is driven by agriculture.
In 2023, BASF launched a new line of Crop protection products for significant advancements in Crop protection solutions for farmers in the Americas and Europe.
Crop protection chemicals are used to decrease the spread of pests. Herbicides are extremely effective in controlling weeds in agricultural fields. The increase in the use of pesticides for the storage and production of cereals, improvements in storage technology, and changes in farming practices are the Crop Protection market trends. The increasing awareness of the focus on improved Integrated pest management efficiency in terms of application and the rising number of initiatives for Crop Protection strategies by the government are expected to boost the Crop Protection chemicals market growth.
With rising awareness regarding the use of chemical insecticides on the health of humans and the gradual shift toward the usage of eco-friendly, natural insecticides and bioinsecticides by farmers. Increasing awareness of the importance of organic products and a rise in demand for organic baby food due to the growing number of mothers in the workforce and the increasing adoption of the health and wellness trend might hinder the Crop Protection Chemicals market growth.
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