With more than 30% share, Latin America is anticipated to hold the highest volume share by 2025. Increase in planted areas of corn, soybeans coupled with development in farming tools and techniques is likely to propel the demand for herbicides.
Need for high yielding crops, food security to meet the food requirements of growing population coupled with growing necessity to protect crops from pests and climatic changes will drive the demand for crop protection chemicals worldwide.
The global crop protection chemicals market is expected to be valued at US$.83.5 Bn by the end of 2025, wherein herbicides hold the highest share.
Fairfield Market Research expects countries such as Argentina, Brazil, India, and China to register above average growth. Growth is mainly driven by rising demand for sustainable food source, improved agriculture output, and soil productivity.
Categorised as patent, post-patent, and R&D focused companies; the leading 5 players in the crop protection chemicals market accounted for more than 60% of the total sales in 2019.