Gurugram, India, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Key Findings
- In accordance with the USDA Foreign Agricultural Service, there are approximately 2.1 million farms in the US during 2020; however the number is expected to decline by the year ending 2025.
- Surge in bio-fuel usage mandated by the Energy Independence and Security Act of 2007 (EISA) through Renewable Fuel Standard (RFS2) program resulted in dramatic changes in crop plantings therefore, giving a boost to pesticide demand.
- There are over 1,500 registered biopesticides with 300 active ingredients considered to have pesticide properties as at 2020.
- Nanoformulations and microencapsulation technologies can improve the stability and residual action of biopesticide products, and this could increase their field use over long term.
Future Prospects of Bio-Pesticides in the US: Biopesticides with potentially less risk to humans & the environment are expected to grow over long term. Within this context, discovery of new substances and research on formulation and delivery would boost commercialization and use of biopesticides. Also, research on integrating biological agents into common production systems is necessary. Over 200 biopesticide product types are sold in the US, compared to 60 analogous products in the European Union (EU) market. As opposed to conventional pesticide type, biopesticides are by their very nature are more harmful and are more specific to target pests. Nanotechnology could contribute to the development of less toxic biopesticides with favorable safety profiles and increased stability of active agents, enhanced activity on target pests, and increased adoption by farmers in the US.
Industry has witnessed companies engaging in commercializing bio-based chemicals from plant, mineral, bacteria & animal sources: Growing food demand has promoted agrochemical-based institutions to upgrade their product and further switch to greener alternatives by investing in research activities. The presence of global agrochemical players and continuous investment in new product development by these players is one of the key driving factors contributing towards regional growth. The US agrochemical market was observed in maturity alongside stringent regulations regarding the usage of various control approaches in the region are expected to restrict the use of some control methods. Biopesticides is one of the potential areas in which the country has made significant advancements.
Widespread adoption of herbicide-tolerant corn, especially Monsanto's glyphosate-tolerant gained traction: Majority of the pesticides in US used on corn are herbicides & over 95% of US corn acreage is treated at least once per growing season with pesticides; occasionally fields are treated twice. Increased glyphosate usage on corn has led to a decreased need for other herbicide active ingredients. Several companies are working towards developing new corn varieties with tolerances for different active ingredients, such as dicamba and glufosinate. However, insecticide and fungicide usage in corn are less significant than herbicide.
The report titled "US Agrochemical Market Outlook to 2025 – Increasing Usage of Integrated Pest Management Activities and Bio Pesticides to Drive Market Growth" by Ken Research suggested that US Agrochemical Market is further expected to grow in future majorly due to entries of several foreign players have also contributed towards the same coupled with increasing usage of Bio pesticides in the US. The country's agro-chemical market is expected to register a positive six year CAGR of 2.3%, 1.6% and 0.4% in terms of revenue by formulants, revenue by technicals and pesticide active ingredient demand respectively during the forecast period 2019P-2025F.
Key Segments Covered
- Product Type
- Herbicide
- Glyphosate
- Atrazine
- 2,4-D
- S-Metolachlor
- Acetochlor
- Dicamba
- Others
- Herbicide
-
- Insecticides
- Organophosphates
- Carbamates
- Pyrethroids
- Neonicotinoids
- Other
- Insecticides
-
- Fungicides
- Chlorothalonil
- Mancozeb
- Other
- Fungicides
-
- Other Agricultural Pesticides
- Fumigants
- Defoliants & Desiccants
- Rodenticides
- Nematicides
- All Others
- Other Agricultural Pesticides
- Pesticide Form
- Liquid
- Granules
- Powder
- Market Structure
- Organized Market
- Unorganized Market
- Crop Type
- Cereal
- Fruits
- Vegetables
- Others
Key Target Audience
- Venture Capitalist Firms
- Agrochemical Manufacturers
- Raw Material Suppliers
- Research & Development Institutes
- Government Bodies & Regulating Authorities
- Herbicide Manufacturers and Distributors
- Insecticide Manufacturers
- Fungicides Manufacturers
Time Period Captured in the Report:
- Historical Period: 2013-2019P
- Forecast Period: 2019P–2025F
Companies Covered:
- Bayer
- Syngenta
- BASF
- Corteva Agriscience
- FMC Corporation
Key Topics Covered in the Report
- Executive Summary - US Agrochemical Market
- Socio Economic Overview
- Country Overview
- Cross Comparison of Countries (US, Canada, Mexico, Argentina and Brazil) – Crop Production Summary (Wheat, Coarse Grains, Corn, Barley, Oats, Rye, Sorghum, Rice, Oilseed, Soybean, Cottonsead, Peanut, Sunflowerseed, Rapeseed and cotton)
- Need, Opportunity and Industry Size of Agrochemical Market
- US Agrochemical Market Constraints
- Trends and Developments in the US Agrochemical Market
- Selected Digital Technology Trends in the Agrochemical Industry
- Agricultural Overview in the US
- US Agrochemical Market Industry Life Cycle
- US Agrochemical Market Size by Revenue (Formulants and Technicals) and Volume (Agricultural Pesticide Active Ingredient Demand), 2013-2019P
- Demand & Supply Side Ecosystem, Preferences & Trends across End Users Market
- Overview of Agricultural Pesticide Supply and Demand
- Ecosystem for Agrochemical Market in the US
- Value Chain Analysis
- US Agrochemical Market Segmentation
- Snapshot on US Biopesticide Market
- Trade Scenario in US Agrochemicals Market, 2017-2018
- Comparative Landscape in US Agrochemical Market
- Regulatory Landscape in US Agrochemical Market
- SWOT Analysis
- Decision Making Process by Farmers before Purchasing Agrochemicals in the US
- Industry Restructuring in the US Agrochemical Market
- US Agrochemical Market Future Outlook and Projections, 2019P-2025F
- Analyst Recommendations
- Appendix / Research Methodology
- US Pesticides Market
- US Herbicides Market
- US Insecticides Market
- US Fungicides Market
- Comparative Landscape in US Pesticide Market
- Competition Scenario US Agrochemical Market
- Major Players Operating US Agrochemical Market
- Recent Investment Deals US Agrochemical Market
- Restructuring Scenario US Agrochemical Market
For more information on the research report, refer to below link:
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