Nov 6, 2018 SOURCE: BusinessWire

$77.3 Billion Crop Protection Chemicals Market - Global Industry Trends to 2023 - ResearchAndMarkets.com

The "Crop Protection Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.

The global crop protection market reached a value of US$ 57.7 Billion in 2017. The market value is further expected to reach US$ 77.3 Billion by 2023, exhibiting a CAGR of around 5% during 2018-2023.

The amount of arable land is also decreasing with rising urbanisation levels and more people living in cities compared to the countryside. Crop protection chemicals are expected to play a major role in increasing agriculture productivity in the coming years. These chemicals are expected to maximize agriculture yield by eliminating pests that reduce yields; resulting in more product per acre and lowering the need to convert natural areas such as woods and forests, native prairies, wetlands, plains, and other wildlife habitat into farm lands.

Crop protection chemicals such as herbicides have made no-till farming a viable option, allowing farmers to reduce erosion by leaving the soil largely undisturbed. Herbicides can be utilised for controlling weeds in no-till crop production, removing the need for cultivation; residue from the previous crop holds the soil in place during wind and rain. Crop residue also prevents runoff of agricultural chemicals and soil that may otherwise impact aquatic habitat and fresh water supplies downstream.

Another major benefit of crop protection chemicals is the control of infectious insects. Livestock is affected by flies and various other pests that cause disease, deliver painful bites, and impose stress. Insecticides play a major role in controlling these insects, resulting in animals converting their feed into meat and milk more efficiently and thus increasing profitability.

Crop protection chemicals have also been used to reduce the spread of exotic pest populations. For instance, herbicides were found to be very effective in controlling the weed purple loosestrife in marshes and wetlands. Similarly, herbicides were also effective against Canada thistle and Johnsongrass along rights-of-way and in farm fields.

Crop Protection chemicals also provide a major role in producing high quality grain and forage. For example, insecticides protect alfalfa crops from insects and diseases which would otherwise lead to significant reduction in the protein content (an important dietary requirement for dairy cattle) and yield.

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

5 Global Crop Protection Chemicals Market

6 Market Breakup by Product Type

7 Market Breakup by Origin

8 Market Breakup by Crop Type

9 Market Breakup by Form

10 Market Breakup by Mode of Application

11 Market Breakup by Region