Market Research Report
Spain Crop Protection Chemicals Market - Growth, Trends and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||543495|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Spain Crop Protection Chemicals Market - Growth, Trends and Forecasts (2020 - 2025)|
|Published: May 1, 2020||Content info: 100 Pages||
The Spanish crop protection chemicals market is projected to grow at a CAGR of 3.1% during the forecast period (2020-2025).
The rise in Adoption of Biopesticides
The use of biopesticides is fully aligned with the current trend that promotes healthy eating without neglecting environment conservation. There is a growing interest in Spanish consumers to eat residue-free food. This is quite reflected in an increase in area under organic cultivation in the region. In 2018, the area under organic farming had increased from 2.24 million hectares as compared to its 2.01 million hectares in 2016, as reported by the Research Institute of Organic Agriculture (FiBL) statistics. By crop type, organic grapes are cultivated around a total of 106,000 hectares in the region. The growth in the biopesticides market is further supported by technological developments undertaken in the segment. Many regional companies, such as Seipasa, are investing in their R&D activities to develop new biological crop protection solutions to improve the efficiency of these products.
Insecticides Dominating the Market
There is a growing demand for insecticides in the region due to a rise in the number of yield losses caused due to insects. Cereals and fruits corner the highest share of insecticide usage in the region. According to FAO, during the period 2015-16, the insecticide share in the overall pesticide use has significantly increased from 11.6% in 2015 to 12.3% in 2016. Pyrethroids are the most commonly used insecticide active ingredients in the country in 2016, totaling 118 metric tons. A significant decline of nearly 57.2%, in the usage of pyrethroid active ingredient, has been evident, especially owing to the impact of restrictions on neonicotinoid and fipronil insecticides on pest management in maize, oilseed rape and sunflower crops. This decline in usage of other classes of insecticides plummeted the sales of pyrethroid based insecticide products in the country.
Spain's crop protection chemical market is highly competitive, with the presence of many regional and international players operating in the market. Bayer CropScience AG, BASF SE, Adama Ltd, and Syngenta Internation AG are some notable players having their presence in the region. These players have an extensive distribution network and are making collaborations with local players, which gives them a competitive edge over other players in the market.