Pesticides Market to Grow with a CAGR of 9.67% through 2028
Growing demand for bio-pesticides and high adoption
rates of GM crops is expected to drive the Global Pesticides Market growth in
the forecast period, 2024-2028.
According to TechSci Research report, “Pesticides
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Pesticides Market stood at USD 1.45 Billion in 2022 and is
anticipated to grow with a CAGR of 9.67% in the forecast period, 2024-2028. The global
pesticides market is driven by several key factors. Increasing population and
rising food demand necessitate the use of pesticides to maintain crop health
and ensure adequate food production.
Technological advancements in farming practices, and
the introduction of bio-based and organic pesticides, also contribute to market
growth. Additionally, increased awareness about the harmful effects of pests on
human health propels the need for effective pest management solutions.
The Global Pesticides Market encompasses the worldwide
industry involved in the production, distribution, and sale of chemicals
specifically designed for agriculture and pest control purposes. These
chemicals, formulated with precise compositions and mechanisms of action,
effectively combat pests that pose threats to plant health and productivity.
The range of pests includes insects, fungi, nematodes, rodents, and weeds,
among others.
Within this market, various types of pesticides are
available, each tailored to target specific pests and mitigate potential risks
to crops. Herbicides play a crucial role in controlling and eliminating
unwanted weeds, ensuring optimal growth and yield of cultivated plants.
Insecticides are formulated to combat insect pests, protecting crops from
damage caused by feeding, infestation, or disease transmission. Fungicides are
used to prevent or treat fungal infections that can significantly impact crop
quality and yield. Additionally, there are other types of pesticides available,
such as rodenticides for rodent control, molluscicides for snail and slug
control, and nematicides for nematode management.
The demand for pesticides is influenced by various
factors. Agricultural practices, including crop types, cultivation techniques,
and pest management strategies, play a crucial role in determining the need for
and usage of pesticides. Pest infestations, which can vary in severity and
frequency depending on geographical location and climate conditions, also drive
the demand for effective pest control solutions. Furthermore, regulations
related to food safety and environmental protection have a significant impact
on the pesticide market, ensuring that products meet stringent safety standards
and minimizing potential risks to human health and the environment. Overall,
the Global Pesticides Market plays a vital role in supporting global food
production by providing effective tools and solutions for pest control in
agriculture. Through continuous development of innovative and sustainable
pesticide products, the industry strives to strike a balance between crop protection
and environmental stewardship, contributing to the overall sustainability and
productivity of the agricultural sector. With a focus on precision and
efficacy, the industry is committed to meeting the evolving needs of farmers
and ensuring a secure and sustainable food supply for the growing global
population.
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The Global Pesticides Market is segmented into type, product,
application, formulation, regional distribution, and company
Based on application, the Cereal segment remains a
dominant force in the global Pesticides Market, fueled by the significant
worldwide demand for cereals as a primary and staple food source. Cereal crops,
which serve as a vital source of nutrition for billions of people, are inherently
susceptible to a wide range of pests, making effective pest control measures
crucial for maintaining their health and maximizing productivity. The
utilization of pesticides, carefully selected and applied, plays a pivotal role
in safeguarding the overall well-being and yield of cereal crops, thereby
driving the sustained growth and prominence of this segment in the broader
pesticide market. With the ever-increasing need for food security and
sustainable agriculture practices, the importance of efficient pest management
in cereal production cannot be overstated. Continuous research, innovation, and
responsible use of pesticides are key factors in meeting the global demand for
cereals while minimizing environmental impact and ensuring crop resilience in
the face of evolving pest challenges.
Based on region, North America stands at the forefront
of the global pesticides market, driven by multiple factors that contribute to
its prominent position. The region boasts vast expanses of agricultural land,
providing a fertile ground for crop cultivation. To ensure optimal productivity
and safeguard crops from pest-related diseases, the use of pesticides plays a
pivotal role in maintaining consistently high crop yields.
Furthermore, North America's agricultural sector
embraces technologically advanced farming practices, leveraging innovations and
cutting-edge technologies to enhance efficiency and productivity. This
technological prowess, combined with strong governmental support for
agricultural growth and sustainability, creates a conducive environment for the
demand and adoption of pesticides. Moreover, the presence of leading pesticides
manufacturers within the region strengthens the supply chain, ensuring a steady
availability of these essential products to meet the market's needs. This
robust ecosystem of production, distribution, and support not only reinforces
the regional market's stability but also fosters continuous innovation and
development in the field of pesticides. North America's dominance in the global
pesticides market is a result of its expansive agricultural landscapes,
advanced farming practices, government backing, and a well-established network
of industry-leading manufacturers. This synergy of factors positions the region
as a key player in meeting the demand for pesticides worldwide.
Major companies operating in Global Pesticides Market
are:
- Bayer CropScience
- Corteva Agriscience
- Syngenta AG
- BASF SE
- China National Chemical Corporation
(ChemChina)
- BioWorks Inc.
- Marrone Bio Innovations, Inc.
- Adama Agricultural Solutions Ltd.
- Certis USA L.L.C.
- Dow Inc.
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“The future of the global pesticides market holds
great promise, with expectations of robust growth in the coming years. As the
global population continues to rise at a steady pace, the demand for food
production is set to increase correspondingly. This surge in demand for food
calls for effective measures to ensure the health and yield of crops, thus
driving the need for innovative and efficient pesticides. Moreover, as
environmental concerns gain prominence, there is a growing emphasis on the
development and adoption of bio-pesticides and integrated pest management (IPM)
techniques. These sustainable and environmentally friendly solutions aim to
reduce the reliance on conventional pesticides and minimize their impact on
ecosystems. With advancements in research and technology, the market for
pesticides is expected to witness significant developments in the coming years.
The future of the global pesticides market holds immense potential, driven by
the increasing demand for food production and the need for sustainable and
environmentally friendly solutions. As the industry continues to evolve, it is
crucial for stakeholders to embrace innovation and adopt practices that ensure
crop health and yield while minimizing the ecological impact of pesticide use.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Pesticides Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028
Segmented By Type (Herbicides, Fungicides, Insecticides,
Others), By Product (Synthetic Pesticides & Bio Pesticides), By Application
(Cereal, Fruits, Plantation Crops, Vegetables & Others), By Formulation
(Dry & Liquid), By
Region and Competition”, has evaluated
the future growth potential of Global Pesticides Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Pesticides Market.
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