Saudi Arabia Pesticides Market to Grow at a CAGR of 5.42% During the Forecast Period
Increasing pest attack and growing population of Saudi Arabia
is driving the growth in Saudi Arabia Pesticides market in the forecast period,
2023-2027.
According
to TechSci Research report, “Saudi Arabia Pesticides Market- By Region,
Competition, Forecast & Opportunities, 2017-2027F”, The
Saudi Arabia Pesticides market stood at USD325.11 million in 2021 and is
expected to grow at a steady CAGR of 5.42% during the forecast period on
account of increasing pest attack and growing population of Saudi Arabia.
According
to the United Nations, Saudi Arabia's population was 35.34 million in 2021.
This represents a 1.59% increase over the 34.81 million projected for 2020. The
country's increasing population will fuel the demand for food in the country,
which will increase the demand for large and healthy produce on farmlands and a
high crop yield, and this can only be achieved by controlling crop damage,
thereby fueling the need for pesticides. Therefore, demand for pesticides is
expected to increase in Saudi Arabia, thereby propelling growth in the
pesticide market accordingly through the forecast period. Apart of that, it has
been also observed that the attack of pests on major crops such as rice, wheat,
and pulses has increased compared to the past few years in Saudi Arabia. Thus,
the issue of increasing pest attacks is expected to drive the demand for pesticides
in the country in the coming years.
Introduction
of Nano pesticides in the Saudi Arabia pesticides market and Growing Hydroponic
Farming technique in Saudi Arabia will also fuel the market of pesticide in
Saudi Arabia in the coming years.
The
regulatory framework is quite strict when it comes to pesticides. All
guidelines and quality standards need to be considered during the manufacturing
of pesticides. The stringent regulatory scenario and policies for pesticides in
Saudi Arabia are expected to hamper the market's growth significantly. The high
cost of pesticides leads to affordability constraints in Saudi Arabia which is
further expected to restrict and slow down the growth of the pesticide market
in Saudi Arabia.
Browse over 44 market data Figures spread through 107 Pages and an in-depth TOC on "Saudi
Arabia Pesticides Market"
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The
Saudi Arabia Pesticides market is segmented based on by type, form, product
type, crop type, source, company, and regional distribution. In terms of type,
the market can be divided into Herbicides, Insecticides, Fungicides, and Others.
The Insecticides segment dominated the market in 2021 with a share of around 35.08%
because of these types of pesticides are used to kill all types of insects or
pest which can damage the crops. Based on form, the market is divided into
Liquid and Dry. Liquid form of pesticide dominates the market of Saudi Arabia. In
terms of product type, the market can be categorized into Chemical and Organic.
The Chemical product type is expected to dominate the market during the
forecast period as chemical product type are used to produce more yields as
compared to organic in shorter period. In terms of crop type, the market
divided into Oilseeds & Pulses, Grains & Cereals, Fruits &
Vegetables, and Others. Oilseeds & Pulses dominates the market of crop type
in 2021 in Saudi Arabia on account of that the Saudi Arabia’s agricultural land
is suitable to grow all types of oilseeds and pulses. Based on source, the
market is segmented into Domestic and
Import. Import segment dominates the market of
Pesticides in Saudi Arabia because most of the pesticides in Saudi Arabia are
imported from different countries as there are less manufacturing units of
pesticides in Saudi Arabia.
Key
market players in the Saudi Arabia Pesticides market include :
- BASF Saudi Arabia Co. Ltd.
- Bayer Crop Science Saudi Arabia
- Astrachem Fertilizers Saudi Arabia
- Saudi Delta Company, Inc.
- The Arab Pesticides and Veterinary Drugs Mfg. Co (Mobedco)
- Montajat Veterinary Pharmaceuticals Co., Ltd.
- Saudi United Fertilizer Co. (Al Asmida)
- Alahmari Group
- Syngenta PPM Saudi Arabia
- Al Rowad Chemical Factory Company
Saudi
Arabia Pesticides market is consolidated with a lot of well-established players
having presence in several countries with several domestic players possessing
leadership in certain regions of Saudi Arabia. BASF Saudi Arabia Co. Ltd holds
the highest market share and is among the top five market players in Saudi
Arabia. Bayer Crop Science Saudi Arabia ranks second in terms of market share
in the overall Pesticide market. The company has a strong presence worldwide
and a huge brand value. People in emerging countries are also aware about the
presence, product portfolio and business of the company and are preferring it
over other competitor brands.
Additionally,
there are other prominent players such as Astrachem Fertilizers Saudi Arabia,
Saudi Delta Company, Inc, The Arab Pesticides and Veterinary Drugs Mfg. Co (Mobedco),
among others, holding a significant position in the Saudi Arabia Pesticides
market.
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“The Northern & Central region of
Saudi Arabia is the dominating region in the market. This can be attributed to
the large and growing population in the region and increasing pest attack in
that region of Saudi Arabia. “For instance, the Saudi
Arabian Ministry of Environment, Water, and Agriculture declared the discovery
of the fall armyworm in maize plants for the first time on October 27, 2021.
The Ministry took phytosanitary measures, such as destroying infested maize
crops, setting up traps around the infested areas, and spraying nearby crops
with pesticides.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based Global management consulting firm.
“Saudi Arabia Pesticides Market By Type
(Insecticides, Fungicides, Herbicides, Others {Bactericides, etc.}), By Form
(Liquid v/s Dry), By Product Type (Chemical v/s Organic), By Crop Type
(Oilseeds & Pulses, Grains & Cereals, Fruits & Vegetables, Others
{Cotton, etc.}), By Source (Import v/s Domestic), By Region, By Company, Forecast
& Opportunities, 2017-2027”, has evaluated the future
growth potential of Saudi Arabia 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 Saudi Arabia Pesticides market.
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