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Crop Protection Market to reach $70 bn by 2019
Sep. 22, 2014
According to the report “Crop Protection Chemicals Market by Type, by Crop Type, by Geography - Global Trends and Forecast To 2019”, the global crop protection chemicals market is projected to reach a value of $69,614.3 million by 2019 with an estimated CAGR of 5.5% from 2014 to 2019. In terms of active ingredient volume, the market is to grow at a CAGR of 4.2% from 2014 to 2019.
North America dominates the global crop protection market and has the largest market share in terms of revenue followed by the Asia-Pacific market. North America and Europe are mature markets and are dominated by a few major players. To survive intense competition, companies in this region are focused on new product development.
The global market for crop protection is dominated corporations, such as Syngenta (Switzerland), BASF (Germany), DuPont (U.S.), and Dow AgroSciences (U.S.). These participants together accounted for the major share of the crop protection market in 2013. Agreements, partnerships, and collaborations are the most common strategies followed by these companies, which are projected to give a new dimension to this market from 2014 to 2019.
Source: MarketsandMarkets (M&M)
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