The market for crop protection chemicals is expanding mostly due to rising food demand brought on by an expanding population. The Food and Agriculture Organisation (FAO) projects that between 2009 and 2050, the global population will increase by almost a third, or 2.3 billion people. The global per capita income is also anticipated to rise at the same period. The demand for food is predicted to increase globally along with rising per capita income and population. For instance, according to FAO, by 2050, food demand in the United States is predicted to rise by 50% to 90%. Once more, it is projected that expanding organic farming would fuel market expansion. According to Europstats, 14.7 million hectares of agricultural land were used for organic farming in the EU as of 2020, a rise over the previous year. Over the projection period, growing GM crop use is anticipated to present considerable growth prospects. The increasing adoption of these pesticide-resistant crops combined with increased production of crop protection chemicals is once again fueling market expansion. In the United States, the first genetically modified (GM) crops appeared in 1996.
According to the Coherent Market Insights, The market for Crop Protection Chemicals was valued at USD 63.26 million in 2021, and from 2022 to 2030, it is projected to increase at a compound annual growth rate (CAGR) of 4.10%.
Leading Companies in the Crop Protection Chemicals Industry:
1. Bayer CropScience
The company was founded in 1958 and is based in In addition to crop protection, seeds, and non-agricultural pest management goods, the company sells agriculture products. The business stated in June 2021 that it had acquired Noria Therapeutics Inc. and PSMA Therapeutics Inc., acquiring access to many actinium-225-based experimental medicines with a focus on treating cancer.
2. ChemChina Corporation
The company was started in 1984 and is based in Beijing, China. Chinese state-owned China National Chemical Corporation manufactures agrochemicals, rubber goods, chemical materials and speciality chemicals, industrial equipment and petrochemical processing for both the civilian and military markets.
3. BASF SE
The company was established in 1865 and is based in Ludwigshafen, Germany. In addition to offering items for these industries, BASF also offers a variety of system solutions and services. These include products for the chemical, automotive, construction, agriculture, oil, plastics, electrical, electronics, furniture, and paper sectors. AgriMetis sold its proprietary L-glufosinate ammonium technology to BASF SE in September 2020.
4. Corteva Agriscience
The business was started in 2019 and is located in Indianapolis, Indiana, United States. Pharmaceutical preparations for human or veterinary use are among the products that the company manufactures, fabricates, or processes. With recent product registrations in three nations—Australia, Canada, and South Korea—Corteva Agriscience announced the commercial launch of AdaveltTM active in March 2023.
5. UPL Limited
The firm was started in 1969 and has its headquarters in Mumbai, Maharashtra. Off-patent agrochemicals are produced, sold, and exported by UPL Ltd. In addition to offering industrial chemicals and chloralkaline products, the company supplies phosphate and phosphorus-based compounds, as well as herbicides, fungicides, insecticides, fumigants, and rodenticides.
6. FMC Corporation
The company was started in 1883 and is based in Philadelphia, Pennsylvania, United States. The business sells crop chemicals for seed corn, potatoes, sorghum, sweet corn, cotton, tobacco, sunflowers, grapes and other related items as well as fungicides, herbicides, insecticides and miticides, and harvest aids. FMC Corporation finalised the purchase of BioPhero ApS in July 2022.
7. Nufarm Ltd
The business was started in 1916 and is based in Melbourne, Australia. In order to protect crops from weeds, pests, and disease damage, farmers utilise a variety of agricultural chemicals manufactured and supplied by Nufarm Limited. The agricultural chemical company Nufarm Ltd (Nufarm) produces and sells seed technologies as well as crop protection products.
Definition: Crop protection chemicals become more crucial as the global population rises. They assist increase crop yields by preventing weeds and pests from growing near crops. Additionally, these compounds aid in ensuring global food security.
