Crop Protection Chemicals Market Share

APAC Market Statistics

Asia Pacific region in crop protection chemicals market is poised to hold more than 38% revenue share by 2037. This advancement will be credited to the enlargement of areas under the yields of high-value crops and smart farms in countries like China, India, Japan, Australia, and the rest of the Asia Pacific region to curb the shortage of food in this region.

For instance, according to the International Production Assessment Division (IPAD), in an attempt to lessen the nation's dependency on imported food, Chinese officials have reclaimed more than 170,000 hectares (420,000 acres) of farmland since 2021.

China became more self-sufficient in grains by extending its agricultural lands and providing irrigation infrastructure to places that receive less rainfall. The National Bureau of Statistics (NBS) reports that in 2023, China's grain output reached a new high of 695.41 million tonnes, an increase of 1.3 percent year over year.

The growth of organic farms in India will lead to a continuous increase in the crop protection sector. According to the Indian Agricultural Association, food grain production in India grew from 177 million tons over the previous 20 years. Significant alterations have occurred in the production, consumption, and trade patterns within Indian agriculture in the past few decades.

Latin American Market Analysis

By 2037, Latin America region in crop protection chemicals market is estimated to hold more than 30% share. Currently, South America accounts for more than half of global soybean output; yield expansion in both nations has been very minor, at less than 30%, despite increases in soybean harvested area of 160% in Brazil and 57% in Argentina.

There has been a rising crop yield in Argentina resulting in the market expansion during the forecast timeline. Argentina has about 56% of its agricultural acreage rented to local farmers by absentee landlords, according to Global Yield Gap Atlas.

The rising advancement in soybean cultivation will expand the crop protection industry. Brazil produces crops on 17% of its arable land, which accounts for more than 50% of the global soybean trade.