- The key vendors in the global crop protection chemicals market 2015-2019 are BASF, Bayer CropScience, Dow AgroSciences, Mosanto and Syngenta.
London, 28 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global crop protection chemicals market 2015-2019. Growing adoption of GM crops is one of the latest trends being observed in the market. Crop protection chemicals such as herbicides are used extensively to aid the growth of GM crops. The land under GM crops is forecast to reach 275.3 million ha in 2019. The global crop protection chemicals market 2015-2019 is expected to reach a CAGR of 6.15% between 2014 and 2019.
Governments and non-government authorities worldwide are recognizing the need to increase agricultural productivity in order to ensure food security and improve nutrition of the growing population and thus are encouraging farmers to use pesticides by offering them various schemes like providing subsidies or loans for buying crop protection products.
“Governments worldwide are putting an emphasis on economic, environmental, and social sustainability in the agriculture sector,” says Faisal Ghaus, Vice President of Technavio Research.
“Farmers are increasingly depending on organic practices and have initiated efforts to optimize soil productivity while simultaneously preserving their ability to function as a healthy medium.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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