Indonesia Crop Protection Chemicals Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
The Indonesia crop protection chemicals market size is projected to reach USD 1.2 billion by 2025, exhibiting a CAGR of 5.6% over the forecast period, according to a new report by Grand View Research, Inc. Increasing awareness regarding the benefits of crop protection chemicals, such as improved productivity and faster yield along with the growth in commercial agriculture, is anticipated to fuel their demand over the forecast period. The embracement of modern farming techniques has further propelled the demand for crop protection chemicals, thereby creating an imbalance in the trade. This imbalance has also resulted in the price inflation of certain chemicals, which is affecting the overall Indonesian economy. The rise in the cost of pesticides, leading to an increase in the cost of agricultural output, has directly impacted the food prices. Thus, market participants are focusing on enhancing their supply chain and improving distribution to build long term contracts with farmers. The fungicides industry of Indonesia is growing tremendously owing to an increase in the awareness regarding prevention and control of various fungal diseases. In terms of value, the use of fungicides has increased from 8% to 16% from 2008 to 2017 in line with the rising agricultural production. Cocoa is one of the major crops in Indonesia and planted on around 1.2 million hectares of land. The production of cocoa is greatly affected by fungal diseases like black pod thrust, frosty pod, and