Driven by the various initiatives by the government for increasing the crop protection industry and increasing focus on food security, the crop protection market in Nigeria has ample growth potential in the coming years.
Increasing Population: In recent years, the population of Nigeria has been growing at an average rate of 2.6%. According to United Nations projections, the population of Nigeria is expected to reach over 400 million by 2050. This increasing population creates a need for greater food production, and farmers are resorting to crop protection products to increase their crop yield. In addition, with more people in urban areas, farmers are facing pressure to grow more high-value crops, such as fruits and vegetables, which are more vulnerable to pests and diseases, thus requiring more crop protection products.
Adoption of New technologies: The use of new technologies like genetically modified (GM) crops and the use of precision agriculture has boosted the crop protection market in Nigeria. GM crops are plants that have been genetically engineered to be more resistant to pests and diseases, thus reducing the need for chemical pesticides and herbicides. This technology is particularly useful for crops that are vulnerable to specific pests or diseases, such as cassava, which is a staple food crop in Nigeria and is commonly attacked by pests such as the cassava mealybug and the cassava green mite.
Furthermore, the use the precision agriculture technologies like GPS, drones and sensors has also contributed in the growth of the market. These technologies are used to gather data on crop health, soil conditions, and weather patterns and then this data is further used to create highly detailed maps of fields and to make decisions about planting, fertilizing, and pest management. These new technologies have boosted the growth in crop protection market in Nigeria.
Government Initiatives: Government has implemented many initiatives in the Nigerian crop protection market such as Presidential Fertilizer Initiative (PFI). The PFI is a government program that aims to increase the use of fertilizers and other crop inputs, including crop protection products, to improve crop yields and the productivity of the agriculture sector in Nigeria. The initiative includes the establishment of a fertilizer blending plant, which aims to produce and distribute affordable and high-quality fertilizers to farmers at reduced costs. The PFI also includes a subsidy component which aims to reduce the cost of fertilizers for farmers and make them more affordable, thus increasing the use of fertilizers and other crop inputs, including crop protection products.
Analysts at Ken Research in their latest publication “Nigeria Crop Protection Market Outlook to 2027F - Segmented by Type (Pesticides (Herbicides, Insecticides, Fungicides, others) and Bio-pesticides (Bio-chemical pesticides, Microbial Pesticides, others)) by Crop Type (Cereal, Vegetable and Forage Crops)” observed the potential of the Crop Protection Market in Nigeria. The growing population, change in eating habits, Climate change along with government initiatives are expected to contribute to the market growth over the forecast period. The Nigeria Crop Protection Market is expected to grow at ~% CAGR over the forecasted period 2023-2027F.
Key Segments Covered:-
Nigeria Crop Protection Market:
Type of Pesticides
Herbicides
Insecticides
Fungicides
Biopesticides
Others (Rodenticides, Plant Growth Regulators, Adjuvants)
Nature of Pesticides
Generic
Patented
Form of Pesticides
Liquid
Granules and Powder
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Market Structure
Organized
Unorganized
By Source
Domestic
Import
Type of Crops
Pulses and Oilseed
Grains and Cereals
Fruits and Vegetables
Commercial Crops
Turfs and Ornamental
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Key Target Audience
Crop Protection Companies
Crop Protection Associations
International Investors
Chemical Companies
International Crop Protection Companies
Venture Capitalist Firms
Agrochemical Manufacturers
Raw Material Suppliers
Research & Development Institutes
Government Bodies & Regulating Authorities
Time Period Captured in the Report
Historical Year: 2017-2021
Base Year: 2022
Forecast Period: 2023– 2027F
Companies Covered:
Bayer SA
Syngenta
BASF S.A.
Monsanto
FMC Corporation
Dow AgroSciences
Key Topics Covered in the Report
Nigeria Crop Protection Market Overview and Genesis (Overview and Genesis including Market Stage, Market Nature and Growth Drivers, Business Cycle Graph)
Nigeria Crop Protection Market Value Chain Analysis
Overview of Nigeria Agricultural Scenario (Agricultural Overview, Contribution to GDP, Planted Area and Production, Mechanization Rate, Major Crops, Climate, Challenges and Sources of Credit)
Introduction to Nigeria Crop Protection Market
Nigeria Crop Protection Market Segmentation
Trade Scenario in Nigeria Crop Protection Market (By Value, By Volume and By Countries)
Decision Making Process Used by Farmers before Purchasing Crop Protection Products
Trends and Developments in Nigeria Crop Protection Market
Issues and Challenges in Nigeria Crop Protection Market
Nigeria Crop Protection Market Regulations
SWOT Analysis Nigeria Crop Protection Market
Nigeria Crop Protection Market Competition Scenario (Competition Scenario, Strength and Weakness, Market Share, Competition Scenario of Major Players)
Nigeria Crop Protection Market Future Projection, 2022-2027F
Future Outlook of Nigeria Crop Protection Market Segmentations, 2022-2027F
Analyst Recommendations
For more information on the research report, refer to below link:-
Nigeria Crop Protection Market
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