Thailand Crop Protection Chemicals Market Trends 2023- By COVID-19 Impact on Industry Share, Revenue, Growth Drivers, Business Opportunities and Future Competition Report 2033: SPER Market Research
Crop protection chemicals, known as agrochemicals, are agricultural products essential for preventing crop damage and managing plant diseases. They can be categorized into fungicides, herbicides, and insecticides. These substances aid in the surveillance and control of pests and diseases that can adversely affect crops. Moreover, they assist farmers in increasing crop yield, managing productivity, and ensuring food security. Consequently, crop protection chemicals are applied across a range of crops including cereals, fruits, vegetables, oilseeds, and pulses.
According to SPER market research, ‘Thailand Crop Protection Chemicals Market Size- By Product Type, By Origin, By Crop Type, By Form, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Thailand Crop Protection Chemicals Market is predicted to reach USD 1.49 billion by 2033 with a CAGR of 5.52%.
The Thailand crop protection chemicals market is primarily driven by farmers’ changing preferences, shifting from low value-added to high value-added crop production. Additionally, the increased adoption of commercial cultivation methods for durian due to its high demand and limited harvest season positively impacts the market. The surge in imported pesticide volumes, spurred by wider applications, and government initiatives promoting organic and inorganic pest control chemicals for improved crop production also contribute to growth. Furthermore, the rising trend of herbicide use for soil erosion prevention and weed control in no-till crop production, along with the growing demand for quality livestock forage, further boosts the market. Insecticide utilization for livestock protection, favourable tax policies on agrochemical imports, expanding cash crop production, and increased investments by major players in innovative marketing strategies are expected to drive the Thailand crop protection chemicals market in the future.
Along with these motivating elements, the Thailand’s crop protection chemicals market faces several significant difficulties. Market diversification necessitates ongoing product innovation and customisation to address the diverse variety of crops and their particular problems. Being ahead of the curve requires continuing research and development as pests and illnesses continue to develop resistance to certain drugs. Additionally, it is crucial to teach farmers how to use these pesticides sensibly and responsibly in order to prevent misuse and overuse, which lowers the danger of environmental damage and health risks.
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Impact of COVID-19 on Thailand Crop Protection Chemicals Market
In addition, Thailand’s crop protection chemicals market was greatly affected by the COVID-19 outbreak. Agricultural activities were impacted by logistical difficulties, labour shortages, and supply-chain disruptions that hampered product delivery. A further burden was imposed by fluctuating demand brought on by market uncertainty and farmers’ lower purchasing power. Despite these obstacles, some market stability was provided by agriculture’s necessity. The popularity of remote consulting services and digitalization increased. The crisis brought to light the necessity of resilient supply chains and creative strategies to provide regular access to crop protection options while also emphasising the sector’s critical role in ensuring food security.
Thailand Crop Protection Chemicals Market Key Players:
The Thai government’s advantageous tax policy regarding the expanding agrochemical imports market, along with the encouragement of sustainable and integrated pest management practices and the heightened utilization of land, serves as the primary driving forces for this market. Additionally, some of the market key players are ADAMA Agriculture Solutions, AG-AGRO Co. Ltd, Arysta Lifescience Co. Ltd, BASF SE, Bayer Crop Science AG, Corteva Agrisicence, including others.
Thailand Crop Protection Chemicals Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Product Type: Based on the Product Type, Thailand Crop Protection Chemicals Market is segmented as; Fungicides, Herbicides, Insecticides, Others.
By Origin: Based on the Origin, Thailand Crop Protection Chemicals Market is segmented as; Natural, Synthetic.
By Crop Type: Based on the Crop Type, Thailand Crop Protection Chemicals Market is segmented as; Cereal and Grains, Fruits and Vegetables, Oilseed and Pulses, Others.
By Form: Based on the Form, Thailand Crop Protection Chemicals Market is segmented as; Gas, Liquid.
By Application: Based on the Application, Thailand Crop Protection Chemicals Market is segmented as; Foliar Spray, Seed Treatment, Soil Treatment, Others.
By Region: This report also provides the data for key regional segments of Central Thailand, Eastern Thailand, Northern Thailand, Southern Thailand, Western Thailand.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Thailand Crop Protection Chemicals Market Future Outlook
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