The need to protect crops from pests, weeds, and plant diseases has encouraged agriculturists to opt for cost-efficient and sustainable crop protection products. High prices associated with patented products has triggered the growth of off-patent generic crop protection market. In its newly added report titled, ‘Global Generic Crop Protection Market 2018 by Manufacturers, Countries, Type and Application, Forecast to 2023’, Market Research Hub (MRH) summarizes insights on the impact of recent trends and developments on the growth of the market.
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Generic Crop Protection Products are Effective, Affordable Substitutes for their Branded Counterparts
Industry veterans, envisioning to enhance user experience and meet industry specific demands, are investing actively to adhere to original formulation. Generic manufacturers also aim to comply with Environment Protection Act (EPA) such that their products are need specific and eco-friendly. In order to match up with their brand equivalents, manufacturers of generic plant protection products endeavor to retain the composition of ingredients such that they comply with the functionality of the original products.
Alternatives to patented products are elementary to increase crop yield and address larger end-user demands at an affordable rate. Use of pesticides is thoroughly discouraged across regions, thereby encouraging manufacturers to produce affordable and non-hazardous generic products targeted to reach more end-users. Additionally, lower availability of cultivable land has also rendered impetus to manufacturers to produce suitable generic alternatives for patented products.
Atticus LLC, one of the leading off-patent company recently launched its acetamiprid substitute. The new launch is essentially an insecticide that targets the pest by ingestion and also by contact. The alternative contains acetamiprid, as an active ingredient.
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Insights compiled in the report offer vital perspectives pertaining to the influence of growth of various segments on the market. In this section, the report outlines important segments of the market, which include product type, application and region. On the basis of type, the market is segmented as herbicide, fungicide, insecticide, and plant growth regulator. Based on application, the market is segmented as cereals & grains, fruits & vegetables, oilseeds & pulses, and others. On the basis of this overview presented in the report, readers can gather knowledge about the segments that increased revenue in the market, as well as their impact on the market.
In addition to segmentation, the report is also sectioned in terms of region. On the basis of region, the market is segmented as Europe, North America, South America, Asia-Pacific, and Middle-East and Africa. On account of these information, readers can infer the strategies being adopted by leading companies in various regions. With the aid of data shared in the report, leading companies can identify the recent developments and market trends and curve suitable strategies to gain maximum profits.
Significant data outlined in the report renders vital information on varipous policies applied by major companies and its influence on the purchase decisions of customers. The exhaustive summary of crucial details presented in the report can serve as a guide to veteran market players and new entrants in their endeavor to formulate core investment decisions. Leading companies identified in the report include, Syngenta, Bayer Crop Science, BASF, Dow Agro Sciences, Monsanto, DuPont, Adama, FMC, UPL, Nufarm, Sumitomo Chemical, and Arysta LifeScience among others
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