Market Research Report
Europe Crop Protection Chemicals Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||388996|
|Published||Content info||130 Pages
Delivery time: 2-3 business days
|Europe Crop Protection Chemicals Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: May 1, 2020||Content info: 130 Pages||
The Europe crop protection market is estimated to register a CAGR of 4.1% during the forecast period. Increased awareness, advances in farming practices, and technology are some of the reasons for Europe to hold a significant market share in crop protection. Pesticides are used in crops and non-crop plants, like turfs and ornamentals. They are broadly classified into four groups, depending on their usage. Farmers use herbicides for killing unwanted plants like weeds, insecticides for killing insects, fungicides for treating diseases caused by a fungus, and other pesticides for treating diseases that are not caused by fungi or insects. Fungicides accounted for more than 37% of the total pesticide sales in 2016.
Need to Increase Crop Yield and Efficiency to Meet growing Population
The pesticides market is driven by the need to increase crop yield and efficiency. The region's population is growing, but the farmlands are diminishing, pushing farmers to increase their yield. New farming practices are adopted by farmers to increase crop yield. Thus, crop protection is an essential strategy adopted by farmers to meet global food demand. The usage of pesticides over crops is a proven technology to increase global food production. New farming practices require new crop protection products, but the research and development costs are escalating. Many pesticides are banned in this region. The costs to register new pesticides for sale are high in these countries. For previously mentioned reasons, investment for companies is high on new products, and they are wary of returns.
Adoption of Biopesticides
Biopesticides adoption is also occurring all over the region, especially in developed and some developing countries. The ban on the use of glyphosate, neonicotinoids, and paraquat is expected to enhance the growth of the European biopesticide market. Currently, it is the second-largest market for biopesticides, globally. Demand for organic and completely natural foods is increasing at a stellar rate, and inevitably biopesticides consumption has to be improved. Pesticides help in the optimal usage of resources for plant growth and protect the crop from various pathogens. Some pesticides repel animals coming towards them with the help of pheromones. Biopesticides are regulated in the European Union in the same manner as chemical pesticides. The Organization for Economic Co-operation and Development (OECD), a 34-country group headquartered in Paris, France, assists EU governments in quickly and thoroughly assessing biopesticide risks to humans and the environment. In Europe and other advanced countries of the world, there are limits on residue levels present in food. However, no such limits usually exist for most biopesticides, due to their comparative safety.
The Europe crop protection market is highly consolidated, with the major companies, including Bayer, BASF, Syngenta, DuPont, Dow AgroSciences, Monsanto, etc., accounting for more than 50% of the market share. The current trend to survive in the market is the research and innovation route. All major companies are investing profoundly in new product development to keep up with the competition and gain market share.