Turkish Pesticides Market Size to Boost US$0.8 billion By 2027 | CAGR 3.4% - IndustryARC

Turkish Pesticides Market

Market Research Reports, Business Consulting Services & Analytics

Increasing Crop Production Within the Same Area of Arable Land

HYDERABAD, TELANGANA, INDIA, January 11, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Turkish Pesticides Market size is projected to reach US$0.8 billion by 2027 after growing at a CAGR of 3.4% during the forecast period 2022-2027. The surge in row crop production in Turkey is the primary factor driving the Turkish pesticide market. However, in 2020, various measures were implemented by the Turkish government such as lockdown, social distancing norms and more to reduce the Covid-19 pandemic. These restrictions resulted in the production decline of cotton, oilseeds and other crops in Turkey. For instance, according to the United States Department of Agriculture (USDA), in 2019, the total cotton production in Turkey was 3.5 million metric tons and in 2020, it was 2.9 million metric tons, a decline of 20.7%. This resulted in revenue losses for the Turkish pesticide industry. In 2021, the surge in production activities resulted in the growth of the Turkish pesticide industry. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

This IndustryARC report on the Turkish Pesticides Market highlights the following

1. Row crops dominated the Turkish Pesticides Market, owing to the surge in total grain production in the country. For instance, according to the United States Department of Agriculture (USDA), in 2020, the total grain production in Turkey was 34.6 million metric tons, an increase of 6.1%.

2. The surging adoption of insecticides in Turkey to ensure higher yield production in the country is accelerating the Turkish Pesticides Market growth.

3. Moreover, the ongoing research and development associated with bio-based pesticides in Turkey will create an opportunity for market growth during the projected forecast period.

4. Nonetheless, the restrictions related to several pesticides in Turkey are creating ripples in the Turkish Pesticides industry growth.

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Segmental Analysis:

1. The synthetic segment held the significant Turkish Pesticides Market share in 2021 and is projected to grow at a CAGR of 4.1% during the forecast period 2022-2027. Synthetic pesticides such as organic phosphorus, carbamate, organochloride, pyrethroid and pyrethrin are composed of synthetic materials and consist of inorganic substances and chemicals.

2. The row crops segment held the largest Turkish Pesticides Market share in 2021 and is estimated to grow at a CAGR of 4.6% during the forecast period 2022-2027. The pesticides such as herbicides, insecticides, termiticides and more are employed in the crops such as wheat, rice and more in soil amendment, post-harvest and other applications.

3. The insecticides segment held the largest Turkish Pesticides Market share in 2021 and is forecasted to grow at a CAGR of 4.0% during the forecast period 2022-2027.

4. Pesticides such as insecticides, herbicides and more have an important role in increasing crop yield on the same cultivable land by protecting crops from insects and offering resistance to bacterial and fungal diseases, among other things.

Competitive Landscape:

The top 5 players in the Turkish Pesticides Industry are -

1. Biolpm

2. Neufarm GMBH

3. Bocek kontrol

4. Biogreen Agro

5. Agroalara

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Related Reports:

A. Pesticides Market

B. Insecticides Market

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