Growing Demand for High-quality Nutritious Food Products to Drive the Global Grain and Cereal Crop Protection Chemicals Market Through 2020, Says Technavio
By Business Wire News
By Business Wire News
According to the latest market study released by Technavio, the global grain and cereal crop protection chemicals market 2016-2020 is expected to grow at a CAGR of more than 5% during the forecast period.
This research report titled ‘Global Grain and Cereal Crop Protection Chemicals Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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The report segments the global grain and cereal crop protection chemicals market into four major types. They are:
The three most important segments are discussed below:
Global grain and cereal crop protection chemicals market by herbicides
The global grain and cereal crop protection chemicals market by herbicides is expected to exceed USD 11 billion by 2020, growing at a CAGR of over 6%. Herbicides are the chemicals used to control or kill unwanted vegetation. These are classified according to their chemical structure, use, and effect on plants. They are also classified according to their toxicity and hazard level. Based on the effects produced by the herbicide, they are grouped as selective and non-selective herbicides.
Selective herbicides subdue or kill weeds without affecting the crop or other desirable plant species. Non-selective herbicides are not specific in their action and suppress all vegetation that these are in contact with. Herbicides that persist in the soil for less than a month at the time of treatment are considered as fast degrading herbicides and used to control weeds. Those persisting for 1-3 months may protect the crop only during the early growing season. Herbicides with persistence of 3-12 months are used primarily for total vegetation control.
According to Chandrakumar Badala Jaganathan, a lead analyst at Technavio for agrochemicals and fertilizers research, “The global herbicides market will experience a substantial growth because of the introduction of new herbicidal active ingredients. In addition, key vendors have increased their R&D expenditure to innovate new products.” However, factors such as the growing resistance of weeds to herbicides, stringent government regulations, and patent expiries may restrict the market growth during the forecast period.
Global grain and cereal crop protection chemicals market by fungicides
The global grain and cereal crop protection chemicals market by fungicides is expected to exceed USD 2 billion by 2020, growing at a CAGR of over 5%. Fungicides are formulated to inhibit or kill the growth of fungus on crops and plants. Biofungicides are fungicides that are synthesized from natural sources. An increase in the global demand for food has increased the load on farmers to enhance their crop yield. Therefore, they are increasingly adopting crop protection mechanisms such as fungicides to meet the demand for food. Some of the conventional fungicides include triazoles, strobilurins, and dithiocarbamates.
The global fungicides market will experience a steady growth because of the increasing demand from APAC, particularly from India and China. An increase in innovative products such as genetically modified (GM) seeds that address diverse climatic conditions is a major driver for this market.
Global grain and cereal crop protection chemicals market by insecticides
The global grain and cereal crop protection chemicals market by insecticides is expected to exceed USD 3 billion by 2020, growing at a CAGR of over 4%. Insecticides protect plants by killing insects or restricting their growth and reducing their attacks. “The use of insecticides is more prevalent in Asian countries such as India and China due to the higher cultivation of cotton, cereal, fruits, and vegetables, says Chandrakumar. These crops are more susceptible to insect attacks. Some of the conventional insecticides include pyrethroids, organophosphates, and neonicotinoids.
The market will grow a steady pace during the forecast period owing to an increase in the use of insecticides. Large quantities of insecticides are used to inhibit insect growth and enhance the global crop yield. However, stringent regulations that aim to reduce the toxicity of these products and patent expiry will restrict the market growth during the forecast period.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Bayer CropScience
- Dow AgroSciences
Browse Related Reports:
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- Global Agricultural Adjuvant Market 2015-2019
- Global Agricultural Micronutrients Market 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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