China Agrochemicals Market Size, Share, Industry Trends, Revenue, Growth Drivers, CAGR Status, Challenges and Future Opportunities and Forecast Analysis till 2033: SPER Market Research
Crop protection chemicals contain harmful and destructive ingredients, they are a diverse group of chemicals that have the potential to pollute the environment. These substances have the potential to cause a wide range of health issues, such as lung infections, cancer, and skin infections. Chemical pesticides are used in chemical pest control and fortifying applications to control pests in crops.
According to SPER market research, ‘China Crop Protection Chemicals Market Size- By Origin, By Product Type, By Crop Type- Regional Outlook, Competitive Strategies and Segment Forecasts to 2033 – state that the China Crop Protection Chemicals Market predicted to reach USD XX billion by 2033 with a CAGR of 4.1%.
The China market for crop protection chemicals is expanding and developing due to a number of factors. In modern agriculture, crop protection chemicals are widely used to protect plants from harmful pests and weeds, thereby increasing crop yield. Crop productivity has gone up to meet the growing population’s need for food security. Brazil, China, and the United States are the three nations that purchase the greatest amounts of these protective goods, according to the Food and Agriculture Organization (FAO). One of the primary reasons for these nations’ increasing agricultural output is their heavy reliance on pesticides.
As biotechnology and microbiology advance, one of the biggest obstacles facing the crop protection chemicals market is the creation of genetically modified (GM) crops. Gene modification can be used to create new genetically modified seeds that have an inherent pest-repelling property. It has been noted that the advent of genetically modified crops in recent years, particularly those with pest resistance, has reduced the need for conventional crop protection chemicals. Another important impediment to market growth is the growing insect resistance to various crop protection agents. The considerable decline in the effectiveness of multiple active ingredients has led to an increase in pest resistance. This resistance is brought on by altered insect metabolic pathways, increased rates of reproduction, and uncontrollably high pest populations.
Furthermore, agrochemical production and distribution have also been severely disrupted by the COVID-19 pandemic, which has also had a significant impact on public health and the global economy. China was a major supplier of the active ingredients in pesticides, but factory closures there resulted in a severe shortage of essential chemicals. Even after Chinese operations resumed in February 2020, lockdowns across the globe hindered the free flow of protective goods and raw materials. The resulting disruptions, which include suspended transportation services, are expected to cause crop pesticide sales to decline and, consequently, lower their market value relative to the previous year.
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Geographically, during the course of the forecast period, the European market is expected to grow at the fastest rate. The growing demand for natural products over synthetic ones, growing government support, growing adoption of natural products over synthetic products, and growing health consciousness are the main factors driving the growth of this regional market.
Furthermore, a few of the major companies in the market are BASF SE, Bayer China Ltd, Corteva Agriscience, Jiangsu Huifeng Bio Agriculture Co. Ltd, Jiangsu Yangnong Chemical Co. Ltd., and Others.
For More Information, refer to below link:-
China Agrochemicals Market Outlook
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