Generic Crop Protection Chemicals Market Size, Share & Industry Analysis, By Type (Herbicides, Insecticides, Fungicides, Others), By Crop Type (Cereals, Oilseeds & Pulses Fruits & Vegetables, Others) and Regional Forecast, 2024-2032

Generic crop protection chemicals are manufacture and sold by companies other than the well-known multinational companies, but contain the similar active ingredients in it. Generic crop protection chemicals are generally off-patent, which means their original patent has deceased. The increasing number of growers inclined towards the utilization of generic crop chemicals owing to their low cost compared to other crop chemicals is predicted to drive the global market of generic crop protection chemicals. 

The prominent players operating in the market are embarking on the mergers and acquisitions & research and development of innovative generic crop chemicals to fulfill the increasing demand for efficient and cost-effective generic crop chemicals. In recent years, the adoption of generic crop protection chemicals is predicted to grow owing to dwindling agricultural commodity prices and decreasing profitability.

The on-going worldwide pandemic of COVID-19 can affect the agriculture commodity, which in turn will affect the profitability of growers thus the demand for least-expansive crop protection chemicals is predicted to increase in forthcoming years. Though generic crop protection chemicals are not identical to branded products, but they are very alike in terms of performance which is predicted to boost the sale of generic crop protection chemicals within many emerging countries. Furthermore, patented and generic crop protection chemicals are even manufactured by the same companies, which are predicted to be a favorable factor for the increasing acceptance of generic crop protection chemicals.

The stringent rules and regulations about the production and launch of new generic crop protection chemicals are predicted to restrain the market growth. The increasing R&D is also predicted to hamper the market growth. 

Key Market Driver -

Subdued Farm Incomes can Drive Preference for Generic Crop Protection Chemicals

Key Market Restraint -

Strict Rules about the Launch of New Generic Crop Protection Chemical

Key Players Covered:

The prominent players operating in the global generic crop protection chemicals market are Atticus LLC, Generic Crop Science, Sipcam Agro USA, Inc, Nufarm Limited, United Phosphorus Ltd, Cheminova, Rotam Agrochemical Company Limited, AMVAC Chemical Co, Albaugh, LLC, ADAMA Agricultural Solutions, and Others.

Generic herbicides are predicted to hold significant share in the global market of generic crop protection chemicals. Generic herbicides are cost effective and equally efficient alternative to expansive branded herbicides which is predicted to boost the demand for generic herbicides. The market players are embarking on the launch of generic herbicides to fulfill the increasing demand for cost-effective herbicide, which is predicted to drive the global market of generic herbicides.

Generic crop protection chemicals are widely used for the cultivation of cereals due to their high demand and rising production. The growers are inclined towards the cultivation of staple crops such as cereals and pulses, which is expected to boost the demand for generic crop protection chemicals from cereals cultivators. Moreover, the long term use of generic crop protection chemicals for the cultivation of cereals is economical and efficient, which is anticipated to increase the utilization of it for the cultivation of cereals.

Regional Analysis:

Asia Pacific is predicted to grow at considerable pace in the global generic crop protection chemicals market. The farmers are more inclined towards generic crop protection chemicals due to their low cost and ease of availability. China is one of the largest producers of generic crop protection chemicals. The presence of prominent players such as Nufarm Limited, Generic Crop Science Pvt. Ltd. in Asian market is also likely to drive the market growth in forthcoming years.

North America is expected to hold significant share in the global generic crop protection chemicals market. North America is a well-established market and companies are embarking on the new product launch to increase their footprint in the North America generic crop protection chemicals market. South America is predicted to grow at steady pace in the global market owing to the extension of farmlands and increasing use of generic crop protection chemicals.

To gain extensive insights into the market, Request for Customization

Segmentation

Key Industry Developments:

• In May 2019, Generic Crop Science signed an agreement to acquire the assets of Willowood USA. Willoeood USA is one of the well-known generic crop protection chemical producers.


• June 2018, Atticus has acquired Tacoma Ag., generic crop protection company. The company develops, manufactures and markets post-patent fungicides, herbicides and insecticides. The acquisition expands the Atticus portfolio, particularly with new herbicide offerings.