Hyderabad, July 25, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "North America Crop Protection Chemicals Market Report (2023-2028)," the market is estimated at USD 14.37 billion in 2023. It is expected to register a CAGR of 4.20% during the forecast period.
Crop protection chemicals are used to prevent damage to crops caused by pests, diseases, and weeds. The agricultural crop protection chemicals industry in North America is growing, driven by the growing population, declining arable land, and food security concerns. The development of new pesticide-active ingredients reduced in the past decade, leading to an increase in off-patent pesticides and the emergence of biological pesticides. The region has a significant amount of cropland, with a focus on sustainable farming practices and reducing reliance on chemical inputs.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 14.37 billion |
| Market Size (2028) | USD 17.65 billion |
| CAGR (2023-2028) | 4.20% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Government initiatives to ensure food safety. |
| Emergence of bio-pesticides. |
Who are the Top Companies in the North America Crop Protection Chemicals Market?
The market is highly consolidated, with a few players holding most of the market share. These players are competing to hold a consistent share of the market. Mergers and acquisitions, partnerships, and expansions are identified as some of the major business strategies adopted by the key players.
The significant players in the North American crop protection chemicals market are,
- BASF SE
- Bayer CropScience AG
- ADAMA Agricultural Solutions
- Syngenta AG
- Corteva Agriscience
- FMC Corporation
- Nufarm Ltd
- Sumitomo Chemicals America Inc. (Valent Group)
- American Vanguard Corporation
- ISAGRO SpA
- Bioworks Inc.
- Marrone Bio Innovations Inc.
- UPL Ltd
Other Reports That Might Be of Your Interest:
- Italy Crop Protection Chemical Market Report - The Italian crop protection chemical market is projected to register a CAGR of 3.5% over the next five years.
- Agriculture in Brazil Report - The Brazilian agriculture market is estimated at USD 122.80 billion in 2023. It is expected to reach USD 147.97 billion by 2028, at a CAGR of 3.80% during the forecast period (2023-2028).
Key Highlights from the North America Crop Protection Chemicals Market Report:
Fast Adoption of Bio-Based Pesticides
- North America is shifting toward biological pesticides due to the adoption of sustainable agricultural practices like organic farming. Biopesticides are gaining popularity as they are seen as eco-friendly and act synergistically with other agricultural inputs.
- The area under organic farming is increasing in both the United States and Canada, driven by consumer concerns over food safety and a preference for high-quality and healthy products.
- Growing concerns about personal health have led consumers to invest in organic products. The biopesticide sector is being driven by a growing awareness of sustainable food production, farmers' concerns about excessive chemical use, and the rising cost of chemical crop protection.
High Demand for Herbicides
- Herbicides are chemical agents used to control unwanted plants and weeds in home gardens and farms. Glyphosate is the most widely used herbicide in North America.
- In the United States, herbicides are extensively used in corn-planted areas, followed by fungicides and insecticides.
- While synthetic herbicides dominate the market, bio-herbicides that use microbes as biological weed control agents are gaining popularity in integrated pest management techniques.
- The growing need to increase crop yield and quality, control crop yield losses due to weeds, and the rising demand for organic food and stringent government regulations are driving the growth of the bio-herbicides market.
What are the Latest Developments in the North America Crop Protection Chemicals Market?
- In February 2022, Bayer AG launched Prosaro PRO 400 SC Fungicide in the United States. It is a new multi-MoA cereal fungicide that controls Fusarium head scab and leaf diseases.
- In April 2021, Corteva AgriScience launched the DuraCor herbicide for pastures and rangeland in the United States. It can control more than 140 broadleaf weed species.
Mordor Intelligence has Segmented the North America Crop Protection Chemicals Market Based on Origin, Type, Crop Type, and Geography
- By Origin (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Synthetic
- Bio-Based
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Insecticide
- Herbicide
- Fungicide
- Other Crop Protection Chemicals
- By Crop Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Cereals & Grains
- Pulses and Oilseeds
- Fruits and Vegetables
- Turf and Ornamentals
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- United States
- Canada
- Mexico
- Rest of North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the North America Crop Protection Chemicals Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Thailand Crop Protection Chemicals Market Report - The Thai crop protection chemicals market size is estimated at USD 0.88 billion in 2023. It is expected to reach USD 1.14 billion by 2028, at a CAGR of 5.31% during the forecast period (2023-2028).
- Germany Crop Protection Chemicals Market Report - The German crop protection chemicals market size is estimated at USD 2.03 billion in 2023. It is expected to reach USD 2.40 billion by 2028, at a CAGR of 3.40% during the forecast period (2023-2028).
- Australia Crop Protection Pesticides Market Report - The Australian crop protection chemicals (pesticides) market size is estimated at USD 1.57 billion in 2023. It is expected to reach USD 1.98 billion by 2028, at a CAGR of 4.70% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
Attachment
