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SOURCE: Transparency Market Research
According to Transparency Market Research “Crop Protection Chemicals Market – Global Industry Size, Market Share, Trends, Analysis and Forecast, 2011 - 2018,” the global crop protection market was worth USD 48.0 billion in the year 2011 and is expected to reach USD 71.3 billion by 2018, growing at a CAGR of 5.4% from 2011 to 2018. Herbicides formed the largest category in the overall crop protection market, contributing about USD 19.9 billion for the year 2011.
Albany NY (PRWEB) November 24, 2012
Herbicides, fungicides and insecticides are the foremost product segments in the global crop protection market. The herbicides market will experience both the highest growth rate as well as highest volume traded in the next six years. The expected growth rate of herbicides for the given period is computed to be 6.1%, which is followed by fungicides with 5.6% of growth rate over the year 2011 to 2018.
The major influencing factors in the crop protection market are shrinking arable land, the paradigm shift in farming practices, increased purchasing power and the resultant improvement in the standard of living. Pesticides protect the plants from various weeds, nematodes and fungus, thus raising the yield production. Increased awareness for crop protection in developed nations like the U.S, better and effective utilization of pesticides along with adoption of high end technologies are key growth drivers for the market.
Asia Pacific accounted for majority of the global crop protection market in 2011 and is expected to do so till 2018; however Latin America and North America markets are expected to grow at a higher rate. Key market players profiled in the report include Bayer, Syngenta, BASF, Dow Agroscience, Monsanto, Dupont, Makhteshim Agam, NuFarm, Sumotomo Chemicals and Arystya Lifescience.
This research is specially designed to estimate and analyze the demand and performance of pesticide products across the globe. The research provides in-depth analysis of crop protection product manufacturers, product sales, trend analysis by segments and demand by geography. The report covers all the major product segments of the global crop protection market and provides in-depth analysis, historical data and statistically refined forecast for the segments covered.
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