Asia Pacific Crop Protection Chemicals Market Outlook, 2027

Crop protectants are the chemicals sprayed on agricultural crops to save them from drastic damage. Generally known as pesticides or agricultural chemicals, it is used extensively in traditional farming, to protect the plants against pests. According to the report published by Bonafide Research, under the title, Asia Pacific Crop Protection Chemical Market Outlook, 2027”, the market is segmented by product type, by application, and by country. The segmental analyses have been detailed into herbicide, insecticide, fungicides & bactericides, and others, in terms of products, and in terms of application, the market is classified into Cereals & grains, Oilseeds & pulses, fruits & vegetables, and others. These segments are analyzed country-wise and the report also covers a detailed discussion about the trends, rules, and regulations across the world. Being one of the large and fastest-growing regions in the global market, without any doubt the Asia Pacific is the dominating segment in the global market. In this region, the need for increasing crop yield is due to the rise in the population which fuelled the use of pesticides. This resulted in a historic growth rate of 3.48% in the region. Additionally, the increasing urbanization in south-eastern countries has resulted in a decline in the availability of arable land. This has impacted the importance of the use of pesticides which increases the average crop yields per hectare. By the end of the forecasted period, the overall market in the region is likely to reach a market value of over USD 22 Billion by 2027. Additionally, In countries, such as India and other southeast Asian countries, the arable land per person is decreasing at an alarming rate where the use of pesticides can play an important role in increasing the average crop yields per hectare. Both government and private initiatives, which include the right usage of Crop protection methods in terms of quantity and the right application methodology are increasing the awareness of over usage of pesticides among the farmer community in the region.

The increasing demand for agricultural products and the resultant commercialization of agriculture induced a rising use of agricultural Crop protection in the region. The crop damage by insects is highest, followed by pathogens and weeds. Insecticides account for a prominent share in total pesticide use in the region. In countries such as India, there is a significant increase in imports of insecticides from countries such as China and Germany. According to the Directorate General of Commercial Intelligence and Statistics (DGCI&S), India imported 11,095 metric tons of insecticides from China, and 1,065.9 metric tons of insecticides from Germany, in 2016-17. Owing to an increased focus toward environmental sustainability, while maintaining the crop output, the demand for bio-insecticides in the region is expected to increase in the coming years. With companies such as Syngenta CropScience, Bayer AG, and FMC corporation setting up their own manufacturing plants and launching products that cater to the needs of farmers in this region, the market growth for insecticides is expected to increase over the next few years. The despite high efforts taken towards controlling the usage of pesticides in the region, there is a lack of a clear uniform policy. In terms of product type, the market is dominated by herbicides, which accounted for more than 40% of the market share in the year 2021. As in this region, agriculture is a primary economic activity, the pesticides are considered essentials, especially when the small-scale farmers try to provide off seasonal fruits and vegetables. This gave a drastic incline in the use of pesticides in the region in the last two decades. Fungi are one of the major crop loss reasons in the region, other than virus, nematodes, and bacteria which causes diseases in the plants. Thus, through the forecasted period, the segment of Fungicides & Bactericides is likely to be growing with the highest CAGR of over 3% In terms of application, the oilseed & pulse segment tops the market share, with a slight difference from the fruits & vegetable segment. The production of wheat, rice & sorghum requires a high quantity of Crop protection chemicals, which are also a few of the most staple crops in Asian cuisine. However, the market growth is challenged by the increasing organic farming and the use of bio-pesticides, which are less toxic. However, in a sample study conducted in the year 2015 on the fruits and vegetables imported to European countries from Southeast Asia, pesticides residues were found to exceed the prescribed limits. The major reason for this is the easy availability of pesticides in every village. Thailand & Vietnam have recorded tremendous growth in agricultural pesticides in the last decade. The Asia market is led by China, which accounted for more than 35% of the market share in 2021. The countries of Australia, Malaysia & Thailand together accounted for less than 15% of the market share in the region. These countries now have increased awareness about the hazardous effect of pesticides, post the Green Revolution and many governments have regulated the use of pesticides and reduced subsidies since then. In order to promote bio-pesticides, the China Ministry of Agriculture introduced- Zero Growth Policy of Pesticides and Fertilizers by 2020, in the year 2015.

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Manmayi Raval

Research Consultant

COVID-19 Impact The pandemic majorly affected many different industry verticals in both positive and negative manner. The Crop protection chemicals market was affected moderately by the Covid-19 pandemic as the agricultural activities were given the essential status by many governments across the region. The majority of the problem experienced was in terms of supply chain and distribution issues created by the travel restrictions in country. On top of that the economic distress created by the pandemic led to uneven buying behaviour amongst the consumer. Major companies mentioned: Basf SE, Bayer AG, Corteva AgriSciences, FMC Corporation, Huapont Life Sciences, Nufarm, Sumitomo Chemicals, Syngenta AG, UPL Considered in the report • Geography: Asia Pacific • Base year: 2021 • Historical year: 2016 • Forecasted year: 2027

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Countries covered: • China • Japan • India • Australia • Malaysia • Thailand Aspects covered in the report • Market Size by Value for the period (2016-2027F) • Market Share by Product Type (Herbicide, Insecticide, Fungicides & Bactericides, and Others) • Market Share by Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others) • Market Share by Region • Market Share by Country The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Agriculture industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.