Agriculture is the most important economic sector in the country. Canada ranks fifth in agricultural exports globally. With the growing population and declining arable land, there has been a growing concern to increase agricultural productivity by preventing damage to crops, which, in turn, is driving the crop protection chemicals market in the country.
New York, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Crop Protection Chemicals (Pesticides) Market - Canada Industry Growth, Trends and Forecasts (2020 - 2025)" - https://www.reportlinker.com/p05962009/?utm_source=GNW
Canadian consumers have greater awareness about the harmful effects of synthetic pesticides in the food they consume, and this has further spurred the demand for natural alternatives to suppress the pest population. More farmers are now relying on biopesticides for crop protection. Owing to this, biopesticides are likely to witness a faster growth in comparison to synthetic chemicals in the country.
BASF SE, Bayer CropScience, Syngenta AG, Corteva Agriscience, Nufarm Ltd, and FMC Corporation are the major players in the market.
Key Market Trends
Need For Improving Productivity by Limiting the Crop Damage
The demand for pest management products is being driven by the emergence of new pests and diseases, leading to crop loss. Customers are increasingly looking for targeted and effective solutions to improve the yield. Thus, crop protection is a key strategy adopted by farmers to limit crop damage and enhance productivity.
According to the Food and Agriculture Organization (FAO), in 2016, soybeans’ yield was 29,557 hg/ha, which decreased to 26,293 hg/ha in 2017 and then amounted to 28,613 hg/ha the next year. This was mainly due to the infestation from two prominent pests namely soybean aphids and two-spotted spider mites (TSSM). The pest incidence was mitigated through the wide application of pesticides, which helped in retrieving the crops. Additionally, in 2019, BASF launched critical insecticide, Sefina, for use in Canadian soybeans and potatoes. Sefina utilizes a unique mode of action, Group 9D active ingredient Inscali, to quickly halt aphid feeding, reducing production losses and virus transmission.
Bio-Based Segment Records the Faster Growth
Owing to the escalating demand for food safety and quality, biopesticides are gaining popularity over their synthetic counterparts. Although the prevalence of synthetic or chemical pesticides continues, emerging preference for biological pesticides was observed in recent years in the country primarily due to the rapidity in the adoption of sustainable agricultural practices, such as integrated pest management (IPM) techniques and organic farming.
According to the Research Institute of Organic Agriculture, organic land area in 2018 was 1.31million ha which has increased from 1.19 million ha the previous year. Furthermore growing consumer concern over the safety food is driving the organic products which lead to the use of biopesticides than to chemicals.
Owing to the demand for bio-based products the companies are introducing new products in the market studied. For instance, in 2017, in collaboration with Bio-ferm, Nufarm launched a bio fungicide, Botector in Canada for the horticulture segment.
Canada crop protection chemical market is a highly consolidated market. Bayer, BASF, Corteva Agriscience, and Syngenta AG are some of the major players who are operating in this market. The major players in the market are competing to hold a consistent share in the market. Mergers and acquisitions, partnerships, expansions, and product launches are some of the major business strategies adopted by the aforementioned major players.
For instance, in March 2020, Nufarm launched a new Valtera Liquid formulation herbicide into the Canadian market, which was previously available in a dry formulation for several years in Canada.
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