South Africa Crop Protection Market is Expected to Reach ZAR 6.8 Billion in Terms of Revenue by Year Ending 2022: Ken Research

South Africa Crop Protection Market is Expected to Reach ZAR 6.8 Billion in Terms of Revenue by Year Ending 2022: Ken Research

PR Newswire

GURUGRAM, India, October 25, 2018

GURUGRAM, India, October 25, 2018 /PRNewswire/ --

South Africa Crop Protection Market Outlook to 2022 - By Type of Pesticides (Herbicides, Insecticides, Fungicides, Biopesticides and others), By Type of Product (Generic and Patented), By Form of Product (Liquid and Granules and Powder), By Market Structure (Organized and Unorganized Sector) and By Type of Crops (Cereal Crops, Fruit Crops and Vegetable Crops) 

Key Potential Trends 

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Consolidation between global companies changing the shape of the future for South Africa Agrochemical sector 

South Africa crop protection market has witnessed consolidation with the nod from competition commission of South Africa for the merger of 2 largest global companies which are seeking to prove leadership in the market. Monsanto-Bayer merger approval has paved the path for competitive landscape of agrochemical industry in South Africa in terms of product innovation, input costs, choices available to the farmers and other consumers. The competition between the global companies is set to be intense which will benefit the farmers and will result in an increase in the overall revenue of the crop protection market.

Expected tailwinds in the sector will continue to drive the market growth 

Rising population, increasing focus on food security and climate change are the major drivers that will facilitate growth in the crop protection industry. The crop protection companies are constantly searching for better products, with higher efficacy and efficiency. The pests are also becoming increasingly resistant to a lot of pesticides as they are used without restrictions. Increased exposure to pesticides has resulted in pests becoming increasingly resistant and thereby increasing the investment in research and development to find new products.

Imports of technicals and formulants will largely meet the domestic demand 

The South African Crop Protection Industry is a 100% import dominated market. Major import destinations for this market include China, USA, France and Germany.

Of these countries, China has the highest share of 26% by value of imports into South Africa. Chinese manufacturers manufacture the crop protection products at a really low cost. Import of active ingredient is expected to grow in future due to increasing focus on food security and increasing number of pests.

In the future, Herbicides will continue to remain dominant import category among the total pesticides imports and their market share would be marginally higher than insecticides. With stricter environmental regulations, the government and international organizations are banning or removing a lot of existing active ingredients which will have an impact on herbicides and insecticides segment.

Surge in Biopesticides sales will be Key catalyst for market growth 

Biopesticides will remain the fastest growing segment in the crop protection market. As the world is moving towards organic products, people have started to avoid products manufactured or produced with the help of conventional chemicals.  Biopesticides will have a big advantage due its lower residue value and naturally existing organisms which will be used in biopesticides. The biopesticides at present have a 4.0% market share in the crop protection market. It is still at a nascent stage and is an emerging space. Lot of awareness drives and campaigns are being held to spread more knowledge on the use and effectiveness of biopesticides. Crop protection companies have started investing in Research and development to explore the biopesticides space further.

Analysts at Ken Research in their latest publication "South Africa Crop Protection Market Outlook to 2022 - By Herbicides, Insecticides, Fungicides, Biopesticides and others; By Generic and Patented Pesticides; By Technicals and Formulations; By Crops (Cereal Crops, Fruit Crops and Vegetable Crops)" believe that an increase in investment into research and development activities will create a positive impact on the South Africa Crop Protection market. The market is expected to register a positive CAGR of 6.1% in terms of revenue during the forecast period 2018E-2022E.

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For more information on the research report, refer to below link:

https://www.kenresearch.com/agriculture-and-animal-care/crop-protection/south-africa-crop-protection-market-research-report/142342-104.html

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