Speaking today at the 16th International Crop-Science Conference, organised by the Pesticides Manufacturers & Formulators Association of India (PMFAI), Dr Bob Fairclough, Principal Consultant for Global Trend Research and Analytics at Kynetec, presented the latest insights on the global crop protection market trends.
Examining the global crop protection market trends with the perspective of post pandemic recovery, and evaluating future drivers, including the impact of supply challenges from China, Bob stated “whilst many global industries have struggled to obtain any growth since the start of the COVID-19 pandemic, the agriculture industry, and in turn the Crop Protection Industry, have not been amongst them. 2020 was, it must be accepted, challenging for Crop Protection, but 2021 has witnessed positive US$ growth dynamics that have not been seen for close to a decade. 2022 looks to continue the same way with predictions for low to mid-single digit US$ growth across most regions of the globe.”
He reported that not-withstanding the challenges that COVID-19 can still potentially impose on this 2022 outlook, the key drivers going forward are now far more rooted in political, economic and environmental decisions made at a global level. The “knock-on effect” of some of these macro-level decisions are often profound, for example as the root cause of the current price movement and supply challenges of raw material and finished product out of China.
He concluded that with Agriculture remaining at “political centre stage” globally - as was seen at the 2021 UN COP-26 Climate Change Conference - further often profound policy influences can be anticipated in the short to mid-term. Sometimes they will provide the industry with new opportunities - for instance in a better regulated carbon market – but at the same time they are also likely to increase the “visibility” of all companies in the industry as well as the need to promote the wider environmental benefits of crop protection products themselves.
For further information email Bob Fairclough
Dr Bob Fairclough
Principal Consultant, Global Trend Research & Analytics