Meticulous Research®—a leading global market research company, published a research report titled, ‘Asia-Pacific Crop Protection Chemicals Market by Type (Synthetic [Herbicides, Insecticides], Biological [Bioinsecticides, Bioherbicides]), Formulation (Liquid, Dry), Mode of Application (Seed Treatment, Soil Treatment), Crop Type - Forecast to 2030’.
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According to this latest publication from Meticulous Research®, the Asia-Pacific crop protection chemicals market is projected to reach $24.86 billion by 2030, at a CAGR of 3.1% from 2023 to 2030.The growth of this market is driven by the increasing adoption of advanced agricultural practices and technologies, the shrinking of agricultural land, the rising concerns about environmental safety, high government support to promote the use of biological chemicals, and the growing need to increase crop yield and quality. However, the stringent and non-standardized regulations and the growing concerns regarding chemical residues in food impede the growth of this market.
The rising adoption of biological seed treatments and the increasing focus on integrated pest management are expected to provide market growth opportunities for the players operating in this market in Asia-Pacific. However, lengthy product registration and approval processes are a major challenge for the players in this market.
Key Players
The Asia-Pacific crop protection chemicals market is characterized by a moderately competitive scenario due to the presence of many large and small-sized global, regional, and local players. The key players operating in the Asia-Pacific crop protection chemicals market are BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (U.S.), FMC Corporation (U.S.), Novozymes A/S (Denmark), Nufarm Limited (Australia), Syngenta AG (Switzerland), UPL Limited (India), Sumitomo Chemical Co., Ltd. (Japan), and Jiangsu Yangnong Chemical Co. Ltd (China).
The Asia-Pacific crop protection chemicals market is segmented by type (synthetic crop protection chemicals {herbicides [glyphosate, acetochlor, 2,4-D, atrazine, and other herbicides], insecticides [organophosphates, pyrethroids, carbamates, organochlorides, and other insecticides], fungicides [triazole, strobilurins, chloronitriles, dithiocarbamates, phenylamides, benzimidazoles, other fungicides], and other synthetic crop protection chemicals}, and biological crop protection chemicals {bioinsecticides, biofungicides, bionematicides, bioherbicides, and other biological crop protection chemicals), formulation (liquid formulation and dry formulation), mode of application (foliar spray, seed treatment, soil treatment, and other modes of application), crop type (cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops), and geography (China, India, Japan, Australia, Thailand, Vietnam, Indonesia, Malaysia, and Rest of Asia-Pacific).
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Based on type, the Asia-Pacific crop protection chemicals market is segmented into synthetic crop protection chemicals and biological crop protection chemicals. The synthetic crop protection chemicals segment is expected to account for the larger share of the Asia-Pacific crop protection chemicals market in 2023. The large market share of this segment is attributed to its high efficiency with immediate results and its growing adoption in developing countries, including ease of availability, high efficiency, and lower cost compared to biological products. Based on type, the synthetic crop protection chemicals market is further segmented into herbicides, insecticides, fungicides, and other synthetic crop protection chemicals.
Based on formulation, the Asia-Pacific crop protection chemicals market is segmented into liquid formulation and dry formulation. In 2023, the liquid formulation segment is expected to account for the larger share of the Asia-Pacific crop protection chemicals market. The large market share of this segment is mainly attributed to the higher performance of liquid chemicals available at the cheapest rate, uniform and easy application of liquid form, and higher effective duration (up to 6 months) than dry form (up to 3 months). Also, there is increasing adoption of the latest irrigation technologies, such as drip irrigation and sprinkler irrigation, in major Asian countries, including China and India; this contributes to the segment’s large market share.
Based on mode of application, the Asia-Pacific crop protection chemicals market is segmented into foliar spray, seed treatment, soil treatment, and other modes of application. In 2023, the foliar spray segment is expected to account for the largest share of the Asia-Pacific crop protection chemicals market. The large market share of this segment is attributed to its growing utilization due to its capability of uniform distribution of chemicals with minimum to no wastage of chemicals. Moreover, its advantages, such as its high efficiency with quick pest recovery and rising adoption of advanced spraying technologies, further support the rising utilization of this mode of application in the crop protection chemical market in Asia-Pacific.
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Based on crop type, the crop protection chemicals market is mainly segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops. In 2023, the cereals & grains segment is expected to account for the largest share of the Asia-Pacific crop protection chemicals market. This segment's large market share is primarily due to factors such as the huge area under the cereals and grain cultivation and high demand for staple food crops like rice and wheat in the region, the growing need to enhance productivity of cereals and grains in highly populous countries like India and China, and increasing use of these crops in animal feed, biofuel, and starch & ethanol production. In addition, the growing population and increasing income levels have led to a rise in consumption of cereals and grains, further driving the demand for crop protection chemicals in this segment. Moreover, the crop protection chemicals market for cereals and grains is further segmented into maize/corn, wheat, and other cereals & grains.
Geographic Review
In 2023, China is expected to account for the largest share of the Asia-Pacific crop protection chemicals market. The large share of this market is mainly attributed to the large area under crop production, increasing demand for staple food due to the rapidly rising population, rising adoption of organic farming, and high presence of various chemical manufacturers in the country. Moreover, China's government has been actively promoting the use of crop protection chemicals to increase agricultural productivity and ensure food security.
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Key Questions Answered in the Report:
• What is the value of revenue generated by the sale of crop protection chemicals in Asia-Pacific?
• At what rate is the demand for crop protection chemicals projected to grow in Asia-Pacific in the next 5-7 years?
• What is the historical market size and growth rate for the Asia-Pacific crop protection chemicals market?
• What are the major factors impacting the growth of this market at country levels?
• What are the major opportunities for existing players and new entrants in the market?
• Which type, formulation, mode of operation, and crop type segments create major traction for the manufacturers in this market?
• What are the key geographical trends in this market? Which countries are expected to offer significant growth opportunities for the manufacturers operating in the Asia-Pacific crop protection chemicals market?
• Who are the major players in the Asia-Pacific crop protection chemicals market? What are their specific product offerings in this market?
• What recent developments have taken place in the Asia-Pacific crop protection chemicals market? What impact have these strategic developments created on the market?
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