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DALLAS, September 1, 2014 /PRNewswire/ --
According to the report "Crop Protection Chemicals Market by Type (Herbicides, Fungicides, Insecticides, and Others), by Crop Type (Cereals & grains, Oilseeds & pulses, Fruits & vegetables, and others), by Geography - Global Trends and Forecast to 2019", the crop protection market is projected to grow from $50,718.46 Million in 2013 to $69,614.33 Million by 2019, at a CAGR of 5.5% from 2014 to 2019. The global crop protection chemicals market was led by the Asia-Pacific region, followed by the North American market, in terms of value, in 2013.
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Herbicides: The largest market segment
The global crop protection chemicals market, segmented by type, includes herbicides, insecticides, fungicides, and others. The others segment includes acaricides, nematicides, rodenticides, disinfectants, fumigants, and mineral oils. Herbicides accounted for the largest share in the total crop protection chemicals market with 41% of the total market share in 2013.
Crop protection chemicals market, by crop type
The global crop protection chemicals market consists of four crop type categories, namely cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops. Other crops include sugarcane, plantation crops, and turfs & ornamentals. Cereals & grains is the major market for crop protection chemicals which is dominated by North America. Fruits & vegetables is the second-largest market which is again dominated by the North American region.
Asia-Pacific: The largest market for crop protection chemicals
The crop protection chemicals market was dominated by the Asia-Pacific market in 2013; however, the difference between Asia-Pacific and North American markets is very minute. China's market is estimated to have the greatest potential in the Asia-Pacific region and is projected to grow at a CAGR of 6.8% from 2014 to 2019. Japan is another promising market in the Asia-Pacific region, which had a dominant herbicides market in 2013.
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