At a time of rising food prices, population growth and concerns over global food security, there is a growing need for using every available technology - including plant protection products, to meet future food needs and tackle the emerging challenges of climate change and resource conservation. Plant protection products, also called pesticides, are chemical or biological substances used to control pests that harm food, health or environment. There are mainly three types of pesticides: they are herbicide, insecticide and fungicide.
As compared to 2006, the crop protection recorded increasing demand in 2007, on account of increasing demand for food, energy and feed plants coupled with declining inventories. Increased demand and calorie intake in emerging markets also helped accelerate the industry’s growth. Geographically, in terms of sale Europe accounts for the largest share of the market, followed by Asia Pacific and the NAFTA region. Among the three types of agrochemicals, herbicide accounts for the largest market share globally, followed by insecticide and fungicides.
Although, the crop protection market has been recording growth over the years due to increasing per capita consumption, migration to urban areas and decreasing cultivable land, in the coming years, the industry is expected to be riddled by the new EU and FAO regulations. Already, in countries such as Germany and France, many companies are facing restrictions regarding the usage of their products. In addition to the regulations, banning of many active ingredients globally and increased research and development measures are expected to adversely impact the industry. Apart from the registration and regulation problem, the industry is also facing the problem of piracy and counterfeit products. These issues are expected to affect the revenue generation of the industry in the coming years.
On the whole, the report analyzes the various markets of the crop protection industry and assesses market opportunities available for the players. The growth drivers and challenges for the industry have also been analyzed. The report focuses on the growth of this industry in the different regions of the world and individual markets, such as the US and China among others.