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Driven by the rising demand for improved crop yield, the crop protection chemicals market is forecast to surpass US$ 83.5 Bn by 2025, growing at a 5.3% CAGR.
With global population expected to surpass 9.8 billion by 2025, the pressure is increasing on arable land, which is already on decline. The need for mitigating this concern, coupled with the rising demand for better yield, is expected to fuel the demand for food security, subsequently, crop protection material.
The issue of declining arable land already is incumbent on developing economies, who are looking for economical ways of improving crop quality. Thanks to favorable regulations and conducive environment for growth, the crop protection chemicals market is exhibiting impressive growth. The report offers insights into key factors enabling growth across various regions.
Crop Protection Chemicals Market Trends, Size, Share and Forecast 2021-2026 sandiegosun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sandiegosun.com Daily Mail and Mail on Sunday newspapers.
Agrochemicals Market by Pesticide Type (Herbicides, Insecticides, Fungicides), Fertilizer Type (Nitrogenous, Phosphatic, and Potassic), Crop Application (Cereals & Grains, Oilseeds, Fruits & Vegetables), and Region - Global Forecast to 2025 , published by MarketsandMarkets™
, the Agrochemicals Market
is estimated to grow from USD 208.6 billion in 2020 and is projected to reach USD 246.1 billion by 2025, at a CAGR of 3.4% during the forecast period. Increasing demand for food supply due to the rapid growth in the human population has triggered agricultural intensification during the last few decades. For addressing the growing food demands, agrochemicals (fertilizers and diverse pesticides) are rigorously used in agriculture, which accomplishes the gap between food production and consumption.