In the previous decade, a global rise in the demand for herbicides has occurred due to weeds reducing the farm yield and growing concerns over increasing farm yields along with producing more edible food. The Asia Pacific market has evolved as a huge market for the crop protection market and is expected to experience healthy growth rate in the near future.
The crop protection market is flourishing due to the rise in concerns over the increasing farm weed species, nematodes, and other harmful bugs impacting the natural growth of crops. Increased utilization of rapeseed with low fat content across the globe and other such crops is fuelling the market of crop protection. Increased awareness towards unwanted herbs, insects and fungi especially in Asia Pacific has helped in growth of herbicides followed by fungicides.
Herbicides mostly eliminate the unwanted farm weeds are extensively utilized across the globe. However, certain fungi and bugs attacking the farm yield are being taken care of by new products, thus boosting the fungicides and insecticides market.
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Utilization of crop protection products such as herbicides, fungicides and insecticides for eradication of unwanted elements affecting crop growth and its nutritional value on a large scale is driving the crop protection market. The grain type and oilseeds type crops are being effectively treated with pesticides thereby increasing its nutritional value.
The new policies practiced in the Asia Pacific region and Latin America is positively impacting the crop protection market taking into consideration the CAGR of 6.8%. The changing farming practices and rising concerns across the globe are some of the key factors impacting the growth of the crop protection market.