Phytosanitary Products Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Herbicides, Insecticides, Fungicides, and Others), By Crop Type (Cereals, Oilseeds and Pulses, Fruits & Vegetables, and Others), By Source (Synthetic Chemicals and Biological), By Mode of Application (Foliar Spray, Soil Treatment, Seed Treatment, and Others), and Region Forecast 2019-2030

 Phytosanitary Products Market size was valued at US$ 83.4 billion in 2023 and is expected to reach a value of US$ 154.4 billion by 2030, growing at a CAGR of 9.2% 2024-2030. The market is driven by the very high demand for food production due to a swelling population globally and the protection of crops from pests, diseases, and weeds. However, this market faces strong regulation challenges like many countries are tightening restrictions on chemical pesticides following environmental and health concerns that led them to seek alternative sustainable means such as biopesticides. Opportunities are available in environmentally friendly solutions, precision agricultural technologies, and IPM strategies. However, the market is threatened due to increasing pest resistance, environmental impact issues, and huge R&D investment required to develop safer, yet more effective, alternatives.

Key Players

The phytosanitary product market share is inclusive of several companies such as Bayer Crop Science (Leverkusen, Germany), Syngenta AG (Basel, Switzerland), BASF (Ludwigshafen, Germany), Corteva, Inc. (Delaware, U.S.), FMC Corporation (Pennsylvania, U.S.), ChemChina (Beijing, China), Sumitomo Chemicals (Tokyo, Japan), UPL Ltd. (Mumbai, India), Nufarm (Melbourne, Australia), and Rotam Crop Science Ltd (Hong Kong, China).

Key Developments In Phytosanitary Products Market

• In Nov 2023, Insecticides (India) launched four new crop protection products into the market. These four products are Nakshatra, Supremo SP, Opaque, and Million. Insecticides (India) ventured this initiative to cope with the increasing demand for sowing as the cultivation of Rabi crops in India is on an upward trend.

Phytosanitary Products Market Segmentation Analysis

By Type: Global dominance was attributed to the herbicides segment because laborers for mechanical weeding are scarce in most developing countries, including India and China. This high efficiency offered by herbicides over manual weeding techniques is likely to contribute positively to growth in the market segment in the coming years. As a stimulant to the crop protection chemicals market, the introduction of new herbicide formulations with some unique characteristics, based on the selectivity in weed control and crop emergence, can be considered. On the other hand, increasing areas under genetically modified crops in different regions also provide more usage momentum for herbicide products in crop cultivation processes.

By Crop Type: Phytosanitary products in cereal production have seen healthy growth in cereals in the recent past. World cereal production is also estimated to grow by 2.6% in 2020 as reported by FAO, compared to the previous year. The increasing population across the globe has increased the demand for food security through high-demand crops, thereby propelling the growth of the cereals segment.

By Source Type: The market share of synthetic chemicals is higher because these chemicals are widely used in developing Asian countries, South America, Africa, and the Middle East. More usage of synthetic chemicals is contributed by their low price and targeted action against pests. The demand for biologically sourced protection products is increasing as regional, country, and local governments support environment-friendly crop protection products.

By Mode of Application: Foliar and soil application segments hold the major share of the conventional modes of application. However, seed treatment has emerged as the popular application method for these protection chemicals in recent times. Based on its cost, efficacy, and safety, the seed treatment method of application is fast emerging as a better alternative to conventional/traditional pest control methods. It can supplement other pest control measures to get satisfactory results in the field.