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The Global Agricultural Pesticides Market size is estimated to grow by USD 25,123.05 million and the size of the market is forecast to increase at a CAGR of 4.49% between 2022 and 2027. The growth of the market depends on several factors, including the increased use of herbicides, the rise in demand in developing countries, and shrinking arable land.
This report extensively covers market segmentation by type (herbicides, insecticides, fungicides and bactericides, and others), product (synthetic pesticides and biopesticides), and geography (APAC, South America, Europe, North America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increased use of herbicides is the key factor driving the agricultural pesticides 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.
The increasing product launches will fuel the agricultural pesticides 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 of agricultural pesticides. Such product launches help vendors increase their customer base and their market share in the global agricultural pesticides market.
The challenging regulatory environment is a major challenge to the global agricultural pesticides 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 agricultural pesticides market needs to comply with numerous regulatory laws and obligations, which are expected to influence the market growth negatively.
Based on type, the market is segmented into herbicides, insecticides, fungicides and bactericides, and others. The herbicides segment was valued at USD 39,479.81 million in 2017 and continue to grow by 2021. The global agricultural pesticides 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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Glyphosate is one of the extensively used herbicides in the market, and it is used in the form of gels and powders. However, the increasing glyphosate resistance among plants and weeds neutralizes the effects of glyphosate-based herbicides. The resistance of plants against herbicides is one of the key challenges for the global agricultural pesticide market.
Synthetic pesticides are man-made chemical substances designed to kill or repel pests. They are primarily utilized in agriculture, although they are also employed in other fields in other industries and household settings. According to their chemical composition, synthetic pesticides can be classified into four main categories: organochloride, organic phosphorus, carbamate, pyrethrin and pyrethroid. Synthetic pesticides have dominated the global agricultural pesticides market for decades because they play a crucial role in crop safety and productivity improvement. Moreover, growing concerns about the harm that crop protection chemicals may do to human health have sparked interest in organic farming methods, integrated pest management (IPM) systems, and sustainable agricultural practices all across the world. Globally, governments have strict regulations governing the production, use, and disposal of harmful chemical pesticides. In parallel, synthetic pesticides are intended to boost their efficacy but imparting minimal damage to human health and the environment. Thus, the segment is expected to grow during the forecast period.
APAC will account for 39% of the global market share growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Large areas of farmland and good soil fertility, combined with the increasing demand for food grains and ever-rising population, drive the rapid growth of the agriculture industry in APAC. The region accounts for 30% of available land and almost 60% human population. It has grown to be the largest agricultural pesticides market worldwide and the fastest-growing market for the consumption of pesticides. The growth of the market is attributed to the rise in popularity of modern farming procedures and the increased use of agrochemicals. Although the farming community in the region lacks awareness and is slow in adapting to changes or upgrades, the adoption of modern-day practices and integrated farming processes will have a positive effect on the demand for agricultural pesticides over the forecast period.
In 2021, after the vaccination drive, some vendors in the region are launching new variants of agricultural pesticides during 2019-2021. This factor is expected to drive the demand for the agricultural pesticides market in APAC during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Agricultural Pesticides Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the agricultural pesticides market.
Cropnosysindia- 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 report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Agricultural Pesticides Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.49% |
Market growth 2023-2027 |
USD 25,123.05 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.75 |
Regional analysis |
APAC, South America, Europe, North America, and Middle East and Africa |
Performing market contribution |
APAC at 39% |
Key countries |
US, China, India, France, and Brazil |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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