Thailand Crop Protection Chemicals Pesticides Market | 2031

Report Description

The Thailand Crop Protection Chemicals Pesticides market size was USD 835.63 Million in 2022 and is likely to reach USD 1.33 Billion by 2031, expanding at a CAGR of 5.31% during 2023–2031. The growth of the market is attributed to the increasing adoption of Integrated Pest Management (IPM) to Improve Yields and to yield more.

Thailand's economy is heavily dependent on agriculture. In terms of employment, economic growth, and income contribution to the government through export, the industry is significant. Intensive farming, which involves the use of huge amounts of pesticides, is widespread in the nation.

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Pesticides use in Thailand has risen rapidly, due to an increase in cash crops. Pesticide-intensive crops, such as vegetables and fruits, have the most financial value-added in Thailand. Pesticide usage has naturally grown as farmers have steadily transitioned from low-value-added to high-value-added crop production.

The market is being driven by the Thailand government’s favorable tax policy towards the rising market of agrochemical imports, the development of sustainable and integrated pest control strategies, and rising land-use intensity.

Crop protection can be described as the actions performed to keep cultivated plants safe from diseases, pests, weeds, and grasses. Mainly, considers four categories of pesticides: insecticides, fungicides, herbicides, and other pesticides. Pesticide use has naturally grown as farmers have steadily transitioned from low-value-added to high-value-added crop production. Farmers have increased the use of pesticides in the cultivation of all crops to increase output. The rising proportion of pesticide expenses in total production costs reflects this.

More income crops, lower pesticide prices, more understanding about enhancing agricultural production by reducing insect and disease risks, and government encouragement of pesticide usage are all factors that have contributed to Thailand's fast increase in pesticide application.

Pesticides are chemicals that are used to control, eradicate, and prevent the spread of pests and unwanted plant and animal species. Pesticides are a group of herbicides, insecticides, and fungicides. Pesticides decrease fruit thinning by acting as growth regulators in plants. They also keep the fruit from falling off before it ripens. To preserve crops from degradation during storage and transportation, pesticides are given before or after harvest.

The COVID-19 pandemic has had little influence on Thailand's crop protection chemicals industry, owing to lower transit constraints. The government has exempted all forms of agricultural activity from the effects of lockdowns or interruptions, therefore there has been no such consequence from the corona outbreak. Due to farmers' panic buying behavior, agrochemical firms have achieved double-digit profits.

Thailand Crop Protection Chemicals Pesticides Market Trends, Drivers, Restraints, and Opportunities

• Rising cash crops, lower pesticide prices, more understanding about raising economic production by reducing insects and disease risks, and government support of pesticide usage are all factors driving the market expansion.

• Rising requirement for food safety due to the increase in population is anticipated to fuel the market expansion during the forecast period.

• Growing pests and diseases as a result of climatic fluctuations are estimated to boost the market expansion in the coming years.

• Pesticides' harmful effects on human health are of growing concern due to their persistent nature and toxic characteristics residual concerns are projected to impede the market growth.

• High R&D expenses and the considerable research necessary to develop new pesticides are estimated to hamper the market growth.

• Biopesticides and organic agriculture are experiencing rapid expansion and are expected to offer significant opportunities for the market players.

Scope of Thailand Crop Protection Chemicals Pesticides Market Report

The report on the Thailand crop protection chemicals pesticides market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Thailand Crop Protection Chemicals Pesticides Market Segment Insights

Synthetic segment is projected to account for a large market share

Based on origins, the crop protection chemicals pesticides market is divided into synthetic and bio-based.

The synthetic segment is expected to constitute a key share of the market during the forecast period due to synthetic crop protection chemicals are chemical mixtures created in labs to prevent kill, repelling, or destroying pests. Synthetic crop protection chemicals are known to be harmful and hazardous if they are not utilized correctly.

Herbicides segment is expected to grow at a rapid pace

In terms of products, the market is segregated into fungicides, herbicides, insecticides, and other crop protection chemicals.

The herbicides segment is expected to represent a key share of the market in the coming years due to commonly employed in weed management, which aids in crop yield and output quality. Herbicides aid in the reduction of soil erosion as well as the improvement of soil fertility and crop productivity. They are sometimes referred to as weed killers since they are used to manage or eliminate undesirable crops.

Herbicide use in agroecosystems can alter weed population composition. In the agriculture industry, herbicides are widely used.

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Grains and Cereals segment is anticipated to expand at a substantial CAGR

On the basis of applications, the crop protection chemicals pesticides market is segmented into oilseeds and pulses, grains and cereals, turf and ornamentals, fruits and vegetables, and other crop types.

The grains and cereals segment is expected to hold a key share of the market during the forecast years due to the growing need for food.

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