Global Top 20: Sales performance is great, Chinese has reached a new high

The top 20 companies in the global pesticide market have maintained their momentum since 2018 and performed particularly well in 2021. According to statistics from IHS Markit, the sales performance of all the top 20 companies shown significant growth in dollar terms, ranging from 6.2% to 125.9%. And 12 Chinese companies which are in the top 20, made a history with its impressive growth.

The 12 Chinese companies and their year-over-year sales growth (in US dollars) are: Syngenta (+18.5%), Adama (+16.3%), Yangnong Chemical (+28.4%), Rainbow (+43.1%), Wynca (+34.4%), Liben (+73.0%), Xingfa (+84.0%), Nutrichem (+26.0%), FUHUA (+125.9%), Lier Chemical (+38.2%), Hebang (+86.7%), Redsun (+25.3%).

Among the top 20 companies, the market positions of 11 companies remained the same as the previous year. However, compared with the previous year, Nissan Chemical and Limin were temporarily out of the list due to the huge sales growth of Fuhua and Hebang.

In 2021, Bayer maintained its No.1 market position globally, with sales of 12.228 billion euros ($14.472 billion; based on the average annual exchange rate conversion for 2021, same below), representing an increase of 8.5% (+12.6%, in USD dollars, same below). Its sales are derived from herbicides, fungicides, insecticides, non-crop products and other products (mainly including the business of seed treatment agents, oilseed rape and cotton seed).

Syngenta ranked second globally in 2021, with sales of crop pesticides and non-crop pesticides in dedicated solutions businesses, at $13.211 billion, up 18.5% year on year. All products of the company grew in all regions. In fact,Syngenta Group includes Syngenta Plant Protection, Adama, Syngenta Seeds and Syngenta China. In 2021, Syngenta Group achieved sales of $28.2 billion, generating a year-on-year growth rate of 22.6%.

As the third largest pesticide company in the world, BASF reported pesticide sales of €6.521 billion ($7.718 billion) in 2021, up 5.8% (+9.8%) from a year earlier. And they saw growth across all product types, across all regional markets.

Corteva achieved pesticide sales of $7.253 billion, up 12.3% year on year. This was driven by a 6% volume increase, a 5% price increase, and a 2% positive impact from exchange rates.

UPL maintained its fifth position in the global market, achieving sales of Rs 441.00 billion ($5.963 billion) in 2019, up 19.3% (+19.3%) from a year earlier, including a 10% price increase, 8% volume growth and a 1% positive impact from exchange rates.

FMC’s pesticide sales were $5.045 billion, up 8.7% year on year. The company recorded sales growth in all regions except Europe/Middle East/Africa. The sales volume rose 7%, with prices and exchange rates contributing 1% each.

Adama's pesticide sales were $4.349 billion in 2021, up 16.3% from the previous year. The company's sales of all products, including non-crop products and intermediates, were $4.8 billion, up nearly 17% year over year. What’s more, the sales volume increased 12% and selling prices increased 4%.

Sumitomo Chemical's pesticide sales were 381.271billion yen ($3.474 billion), up 9.2% (+6.2%) year on year, due to strong market demand, new product launches, and the positive impact of exchange rates. The company recorded sales growth in all major regional markets, except for the domestic Japanese market.

Nufarm's pesticide sales were A$ 2.777 billion ($2.088 billion), up 6.6% (+16.4%) from a year earlier. The higher demand driven growth of the company's pesticide and seed products in all markets.

In 2021, Yangnong Chemical maintained the tenth market position globally, with its sales of 11.71billion yuan ($1.816 billion), up 20.0% (+28.4%) year on year. Among the world's top 10 companies, Yangnong Chemical has the highest growth rate.

According to the analysis of the Crop science market from S&P Global Commodity Insights, Albaugh, which would have ranked 11th with more than $1.6 billion in pesticide sales in 2021, is not included in the list due to none publicly available.

Among the companies ranked 10th to 20th, all are Chinese except Kumiai-Chemistry. Although, Kumiai-Chemistry has the Yen-denominated sales growth of 12.3% year on year, it still fell sharply from 14th place in 2020 to 19th place in 2021. Meanwhile, Xingfa jumped from 18th place in 2020 to 14th place in 2021 due to huge sales growth.

Table: Pesticide Sales for the Top 20 Global Companies in 2021(2020)