Global $74 Billion Crop Protection Chemicals Markets, 2021-2025 - Opportunities in the Rapid Growth in the Biopesticides Market and Organic Agriculture : vimarsana.com
Share this article Share this article ResearchAndMarkets.com's offering. The global Crop protection chemicals size is estimated to be valued USD 63.7 billion in 2020 and is projected to reach a value of USD 74.1 billion by 2025, growing at a CAGR of 3.1% during the forecast period. The growth of this market is attributed to an increasing need for food security of the growing population. One of the major challenges faced by the crop protection chemicals market is the development of Genetically Modified (GM) crops, with the evolution of biotechnology and microbiology. New GM seeds can be developed through gene modification to provide them with the natural ability to be pest repellent. This, the development of genetically modified crops in recent years, especially for pest resistance, has been observed to have resulted in a relatively lesser need for traditional crop protection chemicals.