Emerging countries’ crop protection markets may reach $19.7 bn

Date:05-11-2012

According to a new market research report published by Transparency Market Research "Crop Protection Chemicals Market - Global and Developing Countries (China, India and Brazil) Analysis, Market Size, Trends and Forecasts (2009 - 2016)" , China, India and Brazil Crop protection chemicals market revenue (collective) reached USD 13.8 billion in 2011 and is expected to reach USD 19.7 billion by 2016, growing at a CAGR of 7.2% from 2011 to 2016. Brazil is expected to be the second largest Crop protection chemicals market after China by 2016.

Global crop protection chemicals market continues to grow and discover new growth opportunities in emerging economies. However, market maturity attained by some of the most widely used crop protection chemicals will slow down the growth of the global crop protection chemicals market substantially. Developed economies including North America and Europe are expected to show average growth due to market maturity and restriction imposed on usage of certain crop protection chemicals by regulatory authorities; however developing countries are expected to enjoys healthy growth rate in near future because of rising demand for crop protection chemicals.

China crop protection chemicals market is the largest among the three developing markets covered in the report, both in terms of revenue and volume. Herbicides segment is the highest contributor towards the China crop protection chemicals market in terms of consumption throughout the forecast period. Fruits, vegetables and nuts crop segment was the largest consumer of crop protection chemicals and will remain so in the coming years.

India crop protection chemicals market is highly dynamic as price remains the foremost criterion for the adoption of crop protection chemicals. Moreover, lower level of mechanization of farming activities results in higher utilization of manual and traditional pest control methods, which interns lowers the crop protection chemicals adoption in India. In India, insecticides segment is the largest crop protection chemicals segment both in terms of volume and value.

Brazil crop protection chemicals market expects high momentum of growth and emerges as one of the most lucrative market in the near future. Soybean producers consume the largest share of Brazil crop protection chemicals market. Other major consumers of crop protection chemicals include Sugarcane, Fruits, Vegetables & Nuts, Cotton and Corn.