Global Crop Protection Chemicals Market: Overview
The global crop protection chemicals market is on a sturdy growth curve, owing to a respectable compound annual growth rate (CAGR) over the period 2019 to 2027. Some of the reasons that are helping the market chart this growth are increasing government support, growing need for food security, changing crop trends, and improving regulatory framework.
Thus, it does not come as a surprise that over the forecast period a host of gainful avenues will emerge for market players to dabble with. And, as per study, this will lead players to hustle and clamor to make the most of these opportunities.
Besides, it is worth noting here, that over the forecast period, the North American and Asia Pacific (APAC) region will be at the forefront of growth owing to being major consumer and producer respectively. Europe will also chart notable growth.
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Global Crop Protection Chemicals Market: Competitive Landscape
A bevy of myriad factors is helping the global crop protection chemicals market chart high growth. And, these are impacting the competitive landscape. Certain developments in the market are also shaping the vendor landscape of global crop protection chemicals market.
The global crop protection chemicals market is fragmented and some of the most notable players are focused on product improvement and new product development. This leads to a sharp focus on research and development. Other strategies that some players are often witnessed deploying, in order to lay claim on a significant market share are alliances such as partnerships and collaborations, and mergers and acquisitions. Combining resources and know-how often leads to better market penetration and profitable synergistic growth curve.
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Major companies in the global crop protection chemicals market are:
- Bayer Crop Science
- PI Industries
Global Crop Protection Chemicals Market: Key trends and driver
The global crop protection chemicals market market is on an upward trajectory owing to various trends and drivers. Some of the notable ones are provided below:
- The global population is increasing rapidly. By 2025, the planet is anticipated to witness additional 2 billion people. This will take the population up to 9.7 billion from current 7.7 billion. The additional population would push the global crop protection chemicals market on a high growth trajectory.
- Need to ensure that food security is priority will also help the crop protection chemicals market in a big way. In fact, governments across the globe are directing efforts towards this goal. And, this would increase demand for crop protection chemicals. Climate change is bringing with multiple challenges as far as production of crop yields is concerned. This would propel demand and help the market chart and upward facing curve.
Global Crop Protection Chemicals Market: Regional Analysis
North America would lead the market owing to massive consumption level of crop protection chemicals. Marked by a number of strong agriculture-based economies, the region has a number of multinational players operating the playfield. Additionally, the region is known for its technological advancement and its quick adoption. Together, these factors contribute massively to the region laying claim on a significant share of the market. And, as the region remains at the forefront of adopting sustainable agriculture practices, the market would grow further.
Owing to a robust regulatory environment, Europe would chart notable growth over the forecast period. On the other hand, Asia Pacific would be very large consumer of these chemicals. Countries such as Thailand, India, Philippines, Indonesia, and Malaysia, would remain at the vanguard of the game.
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