The global pesticides market was worth more than USD xx billion in revenue in 2017 and is expected to cross USD xx billion in 2022, growing at a healthy CAGR of over xx% during the forecast period.
Pesticides are a category of chemicals which function to protect crops from infectious microbes, insects, rodents, weeds etc. They include chemical products such as insecticides, fungicides, herbicides and others, which are used in agriculture and horticulture.
The pesticides market can be broadly categorized into insecticides, herbicides, fungicides and others. Pesticides are pure chemical substances that are produced in minimal amounts and based on accurate requirements for their supposed application. Furthermore, production associated with pesticides and requires transformation of basic chemicals into complex ingredients.
Pesticides are segmented into below main categories. They are:
Pesticides are further segmented based on source
- Synthetic pesticides
As pesticides are products used in control disease and protect crops, demand from agriculture industry is expected to increase the growth of this market. Demand from agriculture and horticulture markets are actually increasing because of growing world population and increasing dietary needs.
Drivers and Restraints of Pesticides Market
Growing investments in the agriculture industry in regions like Asia, Europe and the Americas are likely to offer tremendous possibilities for pesticides market in the future. As agriproducts for every individual is a necessity and growing population increases the number of individuals in need of food, many multinational businesses are investing in the market.
Pesticides are exposed to immense domestic and international competition. Pesticides have stringent regulations when it comes to approvals, as they cause environmental pollution, especially land and water. Existing and future regulations concerning the use of certain pesticides in few countries are likely to challenge the market growth.
Pesticides Market by Region
Asia was the largest consumer of pesticides and this pattern is anticipated to continue to be identical over the following few years. Consumption in China and India is showing upward trend because of increase in population and demand for agriproducts. Growing demand for agriculture industry will drive pesticides market in Asia. With major production capacities in China, the region is likely to grow in terms of global supply capability. Consumption of pesticides in the Americas and Europe is likely to grow at a significant rate.
Top players in this market include Syngenta, Bayer, Monsanto, Israel Chemicals, Yara International ASA, The Mosaic Co., BASF SE, and Dow Chemical Limited and others.
The report covers exhaustive analysis on:
- Global Market Size
- Global Market Segments
- Market Regional Analysis
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Potential and niche segments, regions showing promising growth