Different type of pesticides such as herbicide, insecticides, rodenticide, fungicide and anti-microbial are available that serve different purposes based on their diverse formulations. For example, insecticides target to kill insects whereas herbicides focus to regulate growth of unwanted plants or weeds. Increasing adoption of nanotechnology to obtain nano-pesticides with new formulations for an extensive range of applications in agri-food production are driving the growth of the pesticides market. This information is based on a recent market research report from Industry ARC, titled “Pesticides Market: By Type (Bio-Pesticides, Synthetic Pesticides); By Crop Type (Vegetables & Fruits, Oilseeds & Pulses, Cereals & Grains, Commercial Crops, Plantation Crops and Others) & By region - Forecast(2018 - 2023).”
Global Pesticides Market: Demand Analysis
Pesticides are promising solutions to ensure food security and defend against biological disasters.
The United Nations Population Division estimates that 9.7 billion population will exist on Earth by 2050, which is nearly 30% more to 2017. Due to the growing population in developing countries, the necessity of food production increases by 80% according to the Food and Agriculture Organization of the United Nations (FAO). But only 20% of new food production is expected to come from the expansion of available farming land. Thus, pesticides which are useful for sustainable agriculture are high in demand. Botanical pesticides are best alternatives to synthetic pesticides, as they are obtained from natural origin substances which are less harmful to humans.
Innovative nanotechnology-derived formulations are allowing these pesticides to boost up the agricultural productivity and also helpful in reducing health and environmental impacts. Pesticides are indispensable in precisely regulating the target pests and diseases caused by them. In addition to this, they also enhance crop production. All these factors put together, the global pesticides market is poised for a profitable future.
Browse 52 Market Tables, 176 Figures spread through 153 slides and an in-depth TOC on “Pesticides Market (2018 - 2023)”
Pesticides Market: Competitive Analysis
- Syngenta AG, BASF SE, The Dow Chemical Company and DuPont, and Bayer AG are some of the key players holding major share in the pesticides market.
- In 2018, BASF SE launched new insecticide named “Sefina Inscalis” in India. It protects cotton and vegetable crops from jassids and whiteflies which makes it an effective solution to produce high quality crops safely.
- Syngenta AG is one of the largest producers for pesticides that observed sales of $12.65 billion in 2017. In 2018, it launched two new fungicides named Posterity and Secure Action that control turf diseases, hoping to enhance its product portfolio in the pesticides market.
- The Dow Chemical Company and DuPont are publicly traded companies in agriculture. They provide crop protection products such as Aproach Prima fungicide and Quelex herbicide with Arylex active. In the second quarter of 2018, agriculture division valued $5.7 billion. It depicts double-digit growth in insecticides and 4 percent increases in local prices which contributes for the growth of sales in agriculture sector.
Pesticides are biocides that are pioneering solution to protect plants from pests. They are majorly used to improve the crop yields in the available farming lands. Pesticides are playing crucial role in enhancing food production to meet the increasing demand from growing population worldwide. Thus, these factors are contributing to the growth of pesticides market during the forecast period 2018-2023.
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Botanical Pesticides Market: By Type (Naturals (including mostly used natural pesticides) and synthetic pesticides); By Applications (Agriculture and Household); By Geography - Forecast(2018-2023)
Insecticides Market: By Type, By Crop Type, By Pest Type, By Formulation, By Form, By Modes of Operation, By Application Technique & By Geography (North America, Europe, APAC and Row) - Forecast(2018-2023)
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