The global new crop protection generics market was valued at USD 60.94 billion in 2023 and is anticipated to reach USD 63.68 billion in 2024 from USD 90.48 billion by 2032, growing at a CAGR of 4.49% from 2024 to 2032.
Other key research and development (R&D) areas of interest include selectivity in its control action against target pests, low application rate per hectare, broad-spectrum control to cover a diverse group of pests and diseases, and compliance with the regulatory mandates of regional and local markets.
Crop protection products are used to reduce yield losses caused by diseases and pests. According to the Royal Society of Chemicals, around 800 chemically active ingredients are registered for use as crop protection solutions worldwide. These chemicals are broadly classified into the groups of herbicides, fungicides, and insecticides. In recent years, research in crop protection chemicals has focused on developing compounds that are safer than their older counterparts to meet the demand for new molecular solutions to control pests that have developed resistance to older compounds.
According to the International Food Policy Research Institute, nearly 690 million people suffered from hunger worldwide in 2019, an increase of 10 million since 2018, and the COVID-19 pandemic could push 83 million -132 million more into hunger in 2020, according to the 2020 report on the state of food security and nutrition in the world (SOFI), published on July 13. The State of Food Security and Nutrition in the World (SOFI) 2020 predicts that 841.4 million people will go hungry worldwide by 2030 if these trends continue and the world does not meet its targets. Goals for 2025 and 2030 to overcome malnutrition. According to the FAO chief economist, he attributed the alarming results to the inability to access healthy food, noting that around the world, 3 billion people cannot afford and do not have access to good nutrition. These factors are anticipated to fuel the growth rate of the new crop protection generics market.
To transform food systems to reduce these costs, policymakers must consider both supply and demand. Policies should improve the efficiency of the food supply chain and subsidize the production of nutritious food; at the same time, expanding social safety nets and policies that encourage behavior change can promote healthier diets. People are considered to be food secure when they have access to healthy, nutritious, and sufficient food at all times to maintain a healthy life. Due to the continuous increase of the population and the limited arable land to satisfy the increasing food needs, the food security of the population is reduced. To meet future demand for food, it is necessary to increase food production worldwide. In such a scenario, the use of phytosanitary products is unavoidable. This situation has caused the growth of the market of chemical products for the protection of crops. Biopesticides are naturally produced pesticides with minimal use of chemicals. As environmental considerations and the potential for contamination and health risks associated with many conventional pesticides increase, the demand for biopesticides has steadily increased in all regions of the world. Biopesticides are gaining popularity due to their less toxic or non-toxic nature compared to synthetic pesticides.
These pesticides enter the human body through the consumption of contaminated fruits and vegetables. The main health effects associated with pesticide residues include cancer, birth defects, neurological disorders, endocrine disruptors, and reproductive effects. The effect of a pesticide is determined by the duration of exposure and the toxicity of a pesticide. The effects that can occur are acute or chronic. Due to the potential health risks associated with the consumption of pesticides, continuous monitoring of fruits and vegetables is necessary during cultivation. Pesticides such as glyphosates, difenoconazole, imidacloprid, and bifenthrin are common pesticides found in fruits and vegetables that reach consumers in the market.
The COVID-19 epidemic has affected public health and the global economy. The impact of COVID-19 on the global economy has resulted in socioeconomic disruption; Along with other industries, the spread of COVID-19 has affected the agricultural inputs sector. The coronavirus has impacted critical processes involved in the production and distribution of agrochemicals, from the importation of raw materials to the manufacture of the final product. China is one of the leading producers of active ingredients and pesticide products. Thus, the closure of Chinese factories has caused a massive shortage of active ingredients (necessary for the manufacture of pesticides) and phytosanitary products. This supply chain disruption was mainly due to lockdowns that have been declared in many countries to contain the spread of the coronavirus. In addition, these closures have limited the transport of raw materials and phytosanitary products in the most affected areas. Many shipping companies have also suspended their services. Due to these major problems in the supply chain, sales of pesticides for crops and other agricultural products are expected to be lower than last year, which will cause a decrease in the market value of phytosanitary products.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
4.49% |
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Segments Covered |
By Type and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
New Crop Protection Generics Market includes Hansen, BASF, Cheminova, PI Industries, Corteva, Bayer Crop Science, and Syngenta. |
The herbicide is expected to be the fastest-growing segment due to a large number of herbicide products that will no longer be patented in the next few years. In 2018-22, Pinoxaden, Aminopyralid, and Tembotrione, these herbicides with worldwide sales of almost 950 million dollars, will be withdrawn from the patent. Other herbicides that will no longer be patented during the forecast period include Amino-pyralid, Fluopicolide, and Flucetosulfuron. Insecticides like Flubendiamide, Spirotetramat with combined global sales of nearly $ 595 million, will no longer be patented during the forecast period. Fungicidal products that will no longer be patented during the forecast period are Amisulbrom, Fenpyrazamine, Fluopicolide, etc.
North America was the main market with consumption of 11.20 million tons in 2019. The region includes several agriculture-based economies and is home to several multinational agricultural companies, especially in the United States. The region is driven by the rapid adoption of technological advancements by the agricultural community along with a series of regulatory frameworks that monitor positive growth. It has always been a pioneer in terms of crop protection solutions and the promotion of agricultural practices around the world. The presence of emerging economies such as India, Indonesia, China, Malaysia, the Philippines, and Thailand has boosted regional demand. Changing economic conditions have paved the way for advanced technological interventions, especially in West Asia. India and China have established themselves as powers of various agricultural products and are also part of the high export community in the region.
Hansen, BASF, Cheminova, PI Industries, Corteva, Bayer Crop Science, Syngenta. These are some of the market players dominate the global new crop protection generics market.
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