Meticulous Research®, a leading global market research company, has released an in-depth report titled, 'North America Crop Protection Chemicals Market by Type (Synthetic [Herbicides, Insecticides], Biological [Bioinsecticides, Bioherbicides]), Formulation (Liquid, Dry), Mode of Application (Seed Treatment, Soil Treatment), Crop Type - Forecast to 2030.'
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Market Outlook and Growth Drivers
The North American crop protection chemicals market is poised for significant growth, with projections indicating a rise to $14.08 billion by 2030, representing a CAGR of 4% from 2023 to 2030. In terms of volume, the market is expected to reach 1,299,600.5 tons by 2030, growing at a CAGR of 3% over the same period. This robust growth is attributed to several key factors:
- Rising Demand for Organic Food: The surge in organic farming and the increasing consumer demand for organic food products are primary drivers.
- Environmental Awareness: Growing awareness regarding environmental safety and sustainable farming practices is boosting the adoption of biopesticides.
- Government Initiatives: Enhanced governmental support and initiatives to promote the use of biopesticides are further propelling market growth.
- Economic Considerations: The need for cost-effective crop protection solutions is crucial amid rapidly diminishing arable land.
- Technological Advancements: The focus on integrated pest management and the adoption of biological seed treatments offer lucrative opportunities for market players.
Market Segmentation
The report segments the market by type, formulation, mode of application, crop type, and geography, providing a comprehensive analysis.
By Type:
- Synthetic Crop Protection Chemicals: Expected to dominate in 2023 due to their availability, efficiency, and lower cost compared to biological products.
- Biological Crop Protection Chemicals: Projected to witness significant growth driven by the shift towards organic farming, environmental concerns, and the demand for residue-free agricultural products.
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By Formulation:
- Liquid Formulation: Anticipated to hold the largest market share in 2023 due to its ease of application, better performance, and cost-effectiveness.
- Dry Formulation: Also expected to grow significantly, driven by advancements in irrigation technologies.
By Mode of Application:
- Foliar Spray: Expected to be the leading segment in 2023 due to its efficiency and minimal wastage.
- Seed Treatment: Projected to grow rapidly, benefiting from improved germination rates and pest resistance.
By Crop Type:
- Fruits & Vegetables: Expected to lead the market in 2023, driven by urbanization, healthy lifestyle adoption, and the demand for organic produce.
- Cereals & Grains, Oilseeds & Pulses: Also covered in the market analysis.
Key players in the North American crop protection chemicals market include:
- BASF SE (Germany)
- Bayer AG (Germany)
- Corteva, Inc. (U.S.)
- FMC Corporation (U.S.)
- Novozymes A/S (Denmark)
- Nufarm Limited (Australia)
- Syngenta AG (Switzerland)
- Sumitomo Chemical Co., Ltd. (Japan)
- American Vanguard Corporation (U.S.)
- UPL Limited (India)
- ADAMA Agricultural Solutions Ltd. (Israel)
- Pro Farm Group (U.S.)
- Gowan Company LLC (U.S.)
- BioWorks, Inc. (U.S.)
- Vive Crop Protection, Inc. (Canada)
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Conclusion
The North America crop protection chemicals market is set for substantial growth, driven by environmental concerns, technological advancements, and increasing governmental support for sustainable farming practices. Industry stakeholders can expect lucrative opportunities as the market evolves, especially with the growing demand for organic and residue-free agricultural products.
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