Portland, OR, July 21, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Organic Pesticides Market by Product Type (Biomedical, Microbial, Botanical, Mineral), By Type (Insecticide, Fungicide, Herbicide, Others), By Form (Liquid, Powder), By Application (Gardening, Fruits and Vegetables, Cereals and Pulses, Nursery, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the organic pesticides market valued for $3.0 billion in 2022 and is estimated to reach $7.5 billion by 2032, exhibiting a CAGR of 9.7% from 2023 to 2032.
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Prime determinants of growth
The global organic pesticides market is driven by an increase in consumer preference for organic products, government regulations, growing environmental concerns, and technological advancements. However, high cost and limitations in efficacy and availability restrains the market growth to some extent. Nevertheless, government supports and incentives and sustainable agriculture practices are expected to provide prolific growth opportunities in the upcoming years.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $3.0 billion |
| Market Size in 2032 | $7.5 billion |
| CAGR | 9.7% |
| No. of Pages in Report | 408 |
| Segments covered | Product Type, Type, Form, Application, and Region. |
| Drivers | Increasing consumer preferences Government Regulations Growing environmental concerns Technological Advancements |
| Opportunities | Government supports and incentives Sustainable agriculture practices |
| Restraints | Limitations in efficacy and availability Higher costs |
Covid-19 Scenario
- The organic pesticides market experienced disruptions in the global supply chain due to lockdown measures, travel restrictions, and reduced production capacities. Many manufacturing facilities were temporarily shut down or operated at reduced capacity, leading to delays in the production and distribution of organic pesticides.
- However, the pandemic heightened the global focus on health, safety, and environmental sustainability. This trend influenced the organic pesticides market as there was increased demand for eco-friendly and sustainable alternatives to conventional pesticides. Consumers and industries became more conscious of the potential environmental and health impacts of conventional pesticides, leading to a greater emphasis on organic pesticides market.
The botanical segment to maintain its lead position during the forecast period
Based on product type, the botanical segment accounted for the largest share in 2022, contributing to more than one-third of the global organic pesticides market revenue and is expected to maintain its dominance throughout the forecast timeframe. There is a growing consumer preference for organic food and agricultural products due to concerns about synthetic pesticide residues and environmental sustainability. Botanical organic pesticides are an important type of pesticide for farmers practicing organic agriculture, as they align with organic certification standards and are considered compatible with organic farming practices. This may act as one of the key drivers responsible for the growth of the organic pesticides market for botanical types. Furthermore, consumers are becoming more conscious of the impact of their purchasing choices on the environment and their health. However, the mineral segment would cite the fastest CAGR of 10.2% from 2023 to 2032.
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The herbicide segment to maintain its lead position during the forecast period
Based on type, the herbicide segment accounted for the largest share in 2022, contributing to nearly one-third of the global organic pesticides market revenue and is estimated to rule the roost throughout the forecast timeframe. Prolonged and extensive use of synthetic chemical herbicides has led to the development of herbicide-resistant weed populations. Organic herbicides with different modes of action offer alternative control options for weeds that have developed resistance to conventional herbicides. Their use supports resistance management strategies and helps maintain effective weed control in agricultural systems. However, the insecticide segment would cite the fastest CAGR of 10.1% from 2023 to 2032.
The powder segment to maintain its lead position during the forecast period
Based on form, the powder segment accounted for the largest share in 2022, contributing to more than half of the global organic pesticides market revenue and is expected to maintain its dominant status during the forecast period. The same segment would portray the notable CAGR of 9.9% from 2023 to 2032. Powder or granule form of organic pesticides possess various significant characteristics such as application flexibility, long-lasting effect, enhanced stability, ease of storage & transportation, reduced risk of drift, and others which in turn has surged the demand for powdered or granulated form of organic pesticides; thus, fueling the market growth.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global organic pesticides market and is projected to maintain its dominance in terms of revenue during the forecast period. The organic pesticides market in North America has witnessed steady growth over the years. The region has a strong consumer base that is increasingly demanding organic food and other organic products. However, Asia-Pacific region would cite the fastest CAGR of 11.1% throughout the forecast time period.
Leading Market Players: -
- Andermatt Group AG
- Arysta LifeScience Corporation.
- Bayer AG
- Certis USA LLC
- Dow Inc.
- Mark Agri Genetics Pvt. Ltd.
- Parry America, Inc.
- Redox Industries Limited.
- Satpura Bio Fertiliser India Pvt Ltd
- Sikkoindia
The report provides a detailed analysis of these key players in the global organic pesticides market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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