Friday, October 22, 2021

Herbicides Top Global Crop Protection Chemicals Market With 50% Share, Says Fairfield Market Research

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LONDON, September 17, 2021 / PRNewswire / – According to the United Nations, the world’s population is projected to reach 9.8 billion by 2050, putting unsustainable pressure on arable land. A key way to ensure food security is to maximize crop yields. Studies indicate that arable land will decline by 60% per person in emerging economies. Chemicals for crop protection improve the yield and quality of crops in the safest way, as they are constantly evolving in terms of efficiency and adhere to regulatory standards. There are approximately 800 active ingredients available in the crop protection chemicals market, an eightfold increase since the 1970s, with insecticides, fungicides and herbicides being the most widely used.

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In 2018, the phytosanitary chemicals market paid off US $ 64.3 billion and this is expected to increase to US $ 83.5 billion for 2025, registering a compound annual rate of 5.3% for the period 2021 to 2025.

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Fungicides play a key role in preventing the 70% decline in the yield of cereals, vegetables and crops

Herbicides have long dominated the market for crop protection chemicals with a market share of more than 50% as they regulate the growth of weeds that can have a detrimental effect on crop yield and acreage. . The second most commonly purchased crop protection chemical across geographies is fungicides. Fungal infections are a major concern among farmers, as millions of tons of wheat, corn and rice are destroyed each year. It is estimated that the yield of cereals, fruits and vegetables could fall by 70% without the use of fungicides, highlighting the importance of the general market for crop protection chemicals.

Chemicals for crop protection and sustainable agriculture work together to transform agriculture

Chemicals for crop protection are essential in sustainable agriculture, as agronomy and social changes have a transformative impact on the broader market. The explosive growth of the Internet of Things (IoT) within agriculture has led to unprecedented advancements in pest management in the field. Farmers can choose from a diverse range of sensors to eliminate pests and take a proactive approach with analytics.

Integrated Pest Management is an important part of sustainable agriculture with IPM that focuses on biological, chemical, physical and cultural techniques to control insects, fungi and weeds. IPM has become an integral component of government policy around the world and is seen by the EU as a cornerstone for pest management.

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Record pesticide records make Brazil critical in the crop protection chemicals market

Latin America other Pacific Asia they are expected to lead the crop protection chemicals market for the foreseeable future. Latin America shows great promise and is expected to grow at a compound annual rate of 6.3% between 2021 and 25. Fungal, weed and worm infestations in the region are being overtaken by rapid technological advances in farming methods. Chemical manufacturers would do well to target Brazil other Argentina on Latin America being the first one of the largest importers in the market of chemical products for crop protection.

Within Pacific Asia region, porcelain other India alone represent a third of the world’s population and more than half of From india citizens derive their livelihood from agriculture. Since 2015, porcelain has adopted a ‘zero growth’ plan to carefully monitor the crop protection chemicals deployed across the nation. Additionally, uncertain weather patterns, such as flash floods or droughts, can have a catastrophic impact on local crop production. Lastly, countries are tightening their regulatory regimes by phasing out certain active pharmaceutical ingredients, adding to the challenges in the crop protection chemicals market.

Consolidation and Japanese prominence characterize the crop protection chemicals market

Two decades ago, there were more than 10 major manufacturers actively involved in the crop protection chemicals market. Cutthroat competition and strict regulations have reduced market players as they have been forced to consolidate. In 2018, Syngenta, Bayer Crop Science, BASF SE, Corteva (DowDuPont), FMC and ADAMA had a market share of more than 50% in the crop protection chemicals market. An interesting trend to highlight is the prominence of Japanese companies, since the country comprises a quarter of the products developed in the market for phytosanitary chemicals.

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Fairfield Market Research is a UK based market research provider. Fairfield offers a wide range of services, ranging from custom reports to consulting solutions. With a strong European presence, Fairfield operates globally and helps companies navigate through business cycles, with quick responses and multiple approaches. The company values ​​the eye for an insightful view of global affairs, ably supported by an exceptionally experienced team of researchers. With a robust repository of syndicated market research reports that are continually published and updated to ensure that changing customer needs are met with absolute speed.

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