September 5, 2014
Crop protection to become US$69.6 million market by 2019
From US$50,718.46 million in 2013, crop protection is projected to expand to a US$69,614.33 million market by 2019, according to MarketsandMarkets.
The growth is recorded at a CAGR of 5.5% from 2014 to 2019.
In 2013, the global cropprotection chemicals market was led by the Asia-Pacific region, followed by the North American market, in terms of value. Herbicides accounted for the largest share, with 41% of the total market share in 2013.
In the same year, the market was dominated by Asia-Pacific. China's market is estimated to have the greatest potential and is projected to grow at a CAGR of 6.8% from 2014 to 2019. Japan is another promising market, which had a dominant herbicides market in 2013.
Cereals and grains is the major market for crop protection chemicals, which is dominated by North America.