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Asia-Pacific Crop Protection Sector to Increase at a CAGR of 6% Through 2018
Source: http://uk.finance.yahoo.com
Source Date: Thursday, May 09, 2013
Focus: ICT for MDGs
Created: May 14, 2013

The Asia-Pacific crop protection market has been forecast to increase at a compound annual growth rate (CAGR) of 6.2% over the next five years, reaching a value of $18.3 billion by the end of 2018.

 

The crop protection market consists of crop protection chemicals or agrochemicals, seeds, and genetically modified (GM) crops. Crop protection chemicals are the most dominating segment of this market in terms of market share as well as product innovations. Crop protection chemicals are further classified as herbicides, insecticides, fungicides, bio-pesticides, and adjuvants.

 

As the latter two segments hold a minor market share, in general practice, pesticides are referred to as crop protection chemicals.

 

Increasing need for food crop, with overgrowing population in Asia-Pacific has fuelled the use of pesticides for enhancing crop yield. Use of pesticides is becoming a common practice in countries such as India, China, and other less developed countries in the region, leading to the growth in areas where there had previously been very less or no pesticide usage.

 

In addition to this, decreasing arable land per person in India, China, and especially in South East Asia is a very serious concern, where arable land per person is decreased up to 0.1 hectares per person. The Asia-Pacific market for crop protection chemicals, in terms of active ingredient volume was estimated at 636 KT in 2011 and is expected to reach 843.5 KT by 2018.

 

The crop protection market is dominated by herbicides, accounting for over 41% of the total pesticide volume demand in 2011. Being the world's largest as well as most populous continent, Asia-Pacific is one the key markets for crop protection chemicals. Asia-Pacific accounts for almost 30% of land available on earth and 60% of human population.

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