Agricultural Pesticides Market Analysis APAC, South America, Europe, North America, Middle East and Africa - Brazil, US, China, India, France - Size and Forecast 2024-2028

Agricultural Pesticides Market Size 2024-2028

The agricultural pesticides market size is forecast to increase by USD 24.62 billion, at a CAGR of 4.27% between 2023 and 2028. The market is experiencing significant growth due to several key factors. In developing countries, the demand for herbicides is on the rise as agriculture expands to feed growing populations. However, this expansion is not without challenges. Arable land is shrinking at an alarming rate, fueling the need for more efficient farming practices and increased use of herbicides to maximize crop yields. Herbicides offer farmers a cost-effective solution to manage weeds and increase productivity. Despite concerns regarding the environmental impact of herbicides, their role in ensuring food security and agricultural sustainability is undeniable. The global herbicides market is projected to reach substantial growth in the coming years, driven by these factors and advancements in technology leading to the development of more targeted and eco-friendly herbicides.

What will be the  Market Size During the Forecast Period?

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Market Dynamics

The market encompasses a wide range of products crucial for crop protection and yield enhancement. Farmers rely on pesticides such as insecticides, nematicides, molluscicides, piscicides, rodenticides, bactericides, animalicides, and microbicides to combat pest infestations and ensure the health of cash crops like organic food products, fresh vegetables, and fresh fruits. With growing concerns over pesticide resistance and the impact on local pest species, there is an increasing demand for non-insecticides solutions and specialty crop protection products. These products are essential for maintaining the quality and quantity of export products and cash crops. Acaricides play a vital role in controlling mites and ticks, contributing to sustainable agriculture practices. As the market evolves, innovations in pest control agents and organic farming techniques are driving the adoption of environmentally friendly solutions to protect crops effectively while minimizing ecological impact.

Key Market Driver

The increased use of herbicides is the key factor driving the market growth. Vendors invest heavily in the development of new categories of herbicides that are more effective and environment-friendly. Most modern herbicides are formulated to decompose within a short span after application. Applications of herbicides are spread across different types of crops, including cereals, grains, fruits, vegetables, oilseeds, and pulses. The shift in consumers' preferences toward fruits and green vegetables, propelled by the rising awareness regarding health and fitness, fuels the use of herbicides in agricultural applications.

Moreover, constant protests regarding the imposition of a ban on harmful herbicides have drawn public attention. However, the presence of such harmful herbicides in the market is attributed to their lower cost as compared with their substitute products. Many industry players are developing bio-based herbicides; it is a clean and expensive solution for weed control.

Significant Market Trends 

The increasing product launches will fuel the market growth. The demand for pesticides is growing among farmers to reduce crop damage due to pest attacks. Pest attacks are of the major factors that lead to the loss of agricultural production. Also, the demand for pesticides is influenced by the decrease in arable land in many countries.

These factors have encouraged many vendors to expand their product portfolio by launching new variants. Such product launches help vendors increase their customer base and their market share in the global market.

Major Market Challenge

The challenging regulatory environment is a major challenge to the global market growth. Companies in the market are required to abide by certain laws and regulations, which are the governance codes for the agrochemical business. One such international association responsible for these policies is the Food and Agriculture Organization of the United Nations, and the codes imposed are known as the International Code of Conduct on the Distribution and Use of Pesticides. The application of modern methods and the use of a specific class of pesticide products draw the attention of legislative and regulatory bodies, which, in turn, limit the use of products or lead to withdrawals of products from the market.

Other than organizations involved in the agriculture industry, certain public governing bodies are involved in aspects such as imports and exports, M&A, and other country-specific regulatory issues. Amendments to these tax regulations, interpretation of taxes, and following the tax structure shall have an influence on the other financial statements components like receivables, liabilities, and deferred tax assets and liabilities. The global market needs to comply with numerous regulatory laws and obligations, which are expected to influence the market growth negatively.

Market Segmentation 

By Type

Based on type, the market is segmented into herbicides, insecticides, fungicides and bactericides, and others. The herbicides segment was valued at USD 40.83 billion in 2018. The global market by herbicides is expected to witness considerable growth because of the increased use of herbicides to destroy various unwanted weeds and herbs and to minimize crop loss. Herbicides are available in different types, such as Glyphosate; bio-herbicide; 2,4-D, paraquat; acetochlor; and atrazine.

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In the market, a thorough study is essential to understand the profit dynamics, pricing strategies, and promotional efforts of key vendors. With the shrinking arable land and the pressing need to increase crop yields to meet population growth, the market for pesticides, including chemical ingredients, assumes significant importance in food production. The use of pesticides, however, raises environmental concerns as they can impact birds, fish, beneficial insects, and nontarget plants.

By Product

The market entails significant expenses for farmers worldwide to safeguard their crops from various pests and diseases. These expenses encompass the procurement of pesticides, application costs, and ongoing research and development to ensure the efficacy of the pesticides. The market size is substantial, driven by the increasing global population and the subsequent demand for food production. Despite the expenses, the use remains a crucial investment for farmers to maintain crop yields and mitigate potential losses. The market is influenced by various factors, including government regulations, consumer preferences, and technological advancements. Companies such as BASF SE, Syngenta AG, and Corteva Inc. are key players in the market, offering a range of products to cater to diverse farming needs. The market is expected to continue its growth trajectory due to the ongoing demand for food production and the development of more effective and sustainable pesticide solutions.

Region Analysis

APAC is estimated to contribute 40% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into market forecasting, detailing the regional market trends and analysis and drivers influencing the market's trajectory throughout the projection period.

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The market entails significant expenses for farmers worldwide to safeguard their crops from various pests and diseases. These expenses encompass the procurement of pesticides, application costs, and ongoing research and development to ensure the efficacy of the pesticides. The market size is substantial, driven by the increasing global population and the subsequent demand for food production. Despite the expenses, the use remains a crucial investment for farmers to maintain crop yields and mitigate potential losses. The market is influenced by various factors, including government regulations, consumer preferences, and technological advancements. Companies such as BASF SE, Syngenta AG, and Corteva Inc. are key players in the market, offering a range of products to cater to diverse farming needs. The market is expected to continue its growth trajectory due to the ongoing demand for food production 

Key Companies

Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, market growth and trends, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.

Cropnosys India Pvt. Ltd - The company offers agricultural pesticides such as Can master. Also, through this segment, the company is engaged in crop protection molecule manufacturing and offers a full range of products and custom synthesis to the agrochemical industry.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including ADAMA Ltd., BASF SE, Bayer AG, Cropnosys India Pvt. Ltd., DuPont de Nemours Inc., FMC Corp., Isagro Spa, NACL Industries Ltd., Nantong Jiangshan Agrochemical and Chemicals Ltd. Liability Co., Novozymes AS, Nufarm Ltd., Shandong Weifang Rainbow Chemical Co. Ltd., Sichuan Fuhua Agricultural Investment Group, Sinochem Group Co. Ltd., Sumitomo Chemical Co. Ltd., Syngenta Crop Protection AG, UPL Ltd., Wynca Group, and Zuari Agro Chemicals Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Type Outlook
  • Herbicides
  • Insecticides
  • Fungicides and bactericides
  • Others
• Product Outlook
  • Synthetic pesticides
  • Biopesticides
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • South America
    • Chile
    • Argentina
    • Brazil
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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• Agricultural Adjuvant Market - Agricultural Adjuvant Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, India, France, Brazil - Size and Forecast

Market Analyst Overview

The market encompasses a wide array of products and solutions essential for modern farming techniques and crop management. Horticulturists and toxicologists rely on pesticides such as insecticide, nematicides, molluscicides, piscicides, rodenticides, bactericide, animalicides, microbicide, fungicides, lampricides, and conventional synthetic chemicals to protect crops like cereals and plantation crops. Nanotechnology is increasingly integrated into pesticide formulations for enhanced efficacy and reduced environmental impact. Intensive farming techniques and integrated pest management (IPM) strategies optimize crop production despite climatic fluctuations and irregular rainfall patterns. Defoliants, desiccants, fumigants, larvicides, ovicides, silvicides, slimicides, and repellants play critical roles in pest management across farming areas, infrastructure constructions, and residential spaces. While pesticides contribute to agricultural goods' productivity, there is growing awareness of their potential health effects, driving the demand for organic foods and sustainable farming practices. As farming and infrastructural development activities expand, the market continues to evolve with advancements in pesticide technologies and regulatory frameworks.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market forecast during the forecast period
• Detailed information on factors that will drive the growth of the market  between 2024 and 2028
• Precise estimation of the size of the market and its contribution  in focus to the parent market
• Accurate predictions about upcoming market trends and changes in consumer behavior
• Growth of the market across APAC, South America, Europe, North America, and Middle East and Africa
• Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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