Grain and Cereal Crop Protection Market to Observe Strong Development by 2023

Posted by Priyanka Thakare on February 20th, 2020

The escalating global population contributes to the pressure to increase cereal production, which leads to a proliferation of pesticide usage. Grains and cereals are a major consumer of crop-based as well as non-crop-based pesticides, particularly herbicides, which are a rapidly developing category. For the past few years, the global agricultural industry has been witnessing significant changes in terms of advancements in crop protection, drip irrigation, soil management, farming techniques, and enhancement of crop yields by means of herbicides, pesticides, the GM technology, fungicides, and other advanced techniques. Farms extensively employed the crop rotation method in order to protect the crops and maintain the level of nutrients in the soil. Soil fertility, soil erosion, and crop yield are augmented via this technique. It also helps mitigate the problem of pest attack which often occurs in a field engaged in incessant farming of the same crop. However, crop protection chemicals have also been observed to have an adverse effect on the environment and human health. Additionally, the nutritional levels of soil are affected by excess use of these products which decrease its productivity prospects.

In terms of type, the grain and cereal crop protection market is categorized into insecticides, herbicides, and fungicides, among which herbicides are the dominant segment. This trend is expected to continue over the forecast period, on account of the wide utilization of herbicides as a crop protection chemical because of their low cost, as well as increased research and development investments in the field and the introduction of new herbicidal active ingredients.

Based on geography, the grain and cereal crop protection market is distributed over North America, Europe, Asia Pacific, Middle East &Africa (MEA), and Latin America.The market in North America is prominent, followed by Asia Pacific and Europe. The market in Asia Pacific is anticipated to experience a high rate of expansion in the near future. Growing population, increasing consumption of food products, and consumer awareness about health and wellness in developing countries such as India, China, and Japan are boosting the demand for grain and cereal crop protection products. Different types of crops such as cereal, maize, and cotton are prone to insect attacks and require protection chemicals, besides which their growing applications and production facilities in Europe have also been propelling their usage.

The grain and cereal crop protection market is characterized by the presence of numerous local players as well as regional and international vendors. The global vendors lead the market in terms of product differentiation, quality, price, innovation, and distribution. The local players compete with each other on the basis of product price, portfolio, sales network, quality, and technology. The competitive environment is projected to intensify in the near future with extended product portfolios, mergers and acquisitions, technological expertise, and partnership agreements between firms. In addition to this, in developing countries, creation of energy-efficient agricultural technologies creates an area of growth opportunity for players to increase their market share.

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Key players operating in the grain and cereal crop protection market include Bayer CropScience, Syngenta, Dow AgroSciences, BASF, and FMC. Other prominent vendors include Sinochem Group, Agrium, Sapec Group, Monsanto, and Yara. These emerging players have been investing huge amounts of capital in research and development activities and innovation centers in order to expand their production capabilities and meet the market’s growing demands.