The North American crop protection pesticides market is valued at USD 13.38 billion in 2023 and is predicted to reach a valuation of USD 14.92 billion by 2028. The market size is expected to grow at a CAGR of 2.2% during the forecast period.
Crop protection is when pesticides protect a crop from pests by controlling the population and keeping them safe so that the crop and yield don’t hurt. Pesticides are an important part of agriculture. Even though agriculture is a mature industry, more people are becoming aware of biopesticides and want to use them to protect the environment. Some pesticides like glyphosate, atrazine, and chlorpyrifos are being phased out. This is expected to increase the demand for biopesticides. Biopesticides are made from animals, plants, bacteria, and minerals. They help get rid of pests without using poison.
One of the major drivers driving the North American crop protection pesticides market is the demand for food due to the increase in population. As the population increases, the demand for food increases as well; thus, the crop protection market also witnesses significant growth. With the increasing technology, the agriculture sector has also witnessed advancements in farming practices, thus acting as a major driver for the crop protection pesticides market. In recent years, the North American crop protection pesticides market has grown significantly due to its increased usage in the agriculture sector. Now, the seed treatment industry has also started to use crop protection pesticides. Thus, the seed treatment market is estimated to report significant growth in the upcoming years.
One of the major factors restraining the market growth is that there have been strict restrictions and a ban on certain powerful pesticides owing to their harmful effects on human health. Another major restraining market growth is that authorities in many countries have put high restrictions on lower usage. Synthetic pesticides are linked to various health risks, such as increased cancer rates, fertility problems, etc., owing to which the government has limited their usage.
Impact of COVID-19 on the North American crop protection pesticides market:
Like any other market, the North American crop protection pesticides market also suffered a loss worth millions of dollars. In addition, the aftermath of the pandemic left a huge global crisis, especially in the agriculture and food processing industries, thus leaving the crop protection pesticide market in a huge crisis. Additionally, restrictions and various phases of lockdowns put on by government bodies across the North American region also had a huge impact on the crop protection pesticides market.
This research report on the North American crop protection pesticides market is segmented and sub-segmented into the following categories.
North America Crop Protection Pesticides Market - By Origin:
Due to the rising demand for bio-based products in the market, the bio-based segment is said to hold the most shares. These bio-based pesticides are usually extracted from natural sources such as plants without negatively affecting the environment.
North America Crop Protection Pesticides Market - By Type:
Based on type, herbicides account for almost 35% of the market shares and are anticipated to experience the greatest growth during the forecast period. After herbicides, fungicides are the second most prevalent crop production strategy, with a nearly 23% share. Due to favorable climate conditions for fungal growth, demand for fungicides is projected to increase over the next few years.
North America Crop Protection Pesticides Market - By Application:
The largest pesticide application market was cereals and grains, accounting for 30% of the entire crop protection volume. The grains most frequently treated with pesticides include wheat, rice, sorghum, oats, and barley. As the demand for cereals and grains increases, the demand for crop protection also rises, thus driving market growth.
North America Crop Protection Pesticides Market - By Country:
Based on region, the US is leading the market with dominant shares. With favorable conditions and more market key players, the US is anticipated to witness the most growth over the forecast period.
KEY MARKET PLAYERS:
Syngenta, Bayer Crop Science, Corteva Agriscience, UPL-USA, BASF SE. Are some of the major key players involved in the North American crop protection pesticides market.
RECENT HAPPENINGS IN THE MARKET:
The North American crop protection pesticides market is valued at USD 13.38 billion in 2023.
The North America Crop Protection Pesticides Market size is expected to grow at a CAGR of 2.2% over the forecast period.
Among all other players, UPL-USA, BASF SE, and Corteva Agri Science are said to be the key market players in the industry.
Based on region, the US holds the dominant share in the North America Crop Protection Pesticides Market.
Based on type, herbicides account for almost 35% of the market shares and are anticipated to experience the greatest growth during the forecast period.
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