Vancouver, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The global Pesticides Market size was USD Billion 26.80 in 2022 and is expected to register a steady revenue CAGR of 6.0% during the forecast period, according to latest analysis by Emergen Research. Rising demand for low pesticides food and increasing agricultural productivity due to increasing global population are key factors driving market revenue growth. Pesticides are pest control agents including herbicides, fungicides, and insecticides, which refer to substances used to kill insects. For example, some food-grade oils may also qualify as low risk pesticide products. This includes oils made from castor, cinnamon, cloves, corn, cottonseed, garlic, linseed, peppermint, rosemary, soybean, spearmint, and thyme.
Cinnamon, cloves, corn mint, peppermint, rosemary, spearmint, thyme, and white pepper are examples of acceptable food-grade spices. Other food-grade compounds and byproducts with little danger include citric acid, corn gluten meal, lauryl sulfate, potassium sorbate, putrescent whole eggs solids, sesame, crushed sesame plant, sodium chloride, and sodium laurel sulfate. Despite being natural, these items should still be used with caution and regarded as poisonous since many plant oils can be dangerous to skin, eyes, and respiratory system. For instance, on 15 April 2022, the Insecticides India Ltd. (IIL) launched three new crop protection solutions for paddy, vegetables, and maize. These pesticides are Shinwa, an insecticide for vegetables, Izuki, a fungicide for paddy, and Torry, an herbicide for maize crops. These items will be produced in its facilities in Dahej, Gujarat, and Chopanki, Rajasthan
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However, consumer concerns about pesticides use on foods and health hazards connected with pesticides account for 85% of all consumer queries, which could restrain market revenue growth. Understanding the differences between foods that are farmed conventionally and organically is the main concern of consumers.
Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 26.80 Billion |
| CAGR (2023–2032) | 6.0% |
| Revenue Forecast To 2032 | USD 47.98 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2022 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Type of pesticide, crop type, origin, application mode, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Bayer AG, BASF SE, Corteva Agriscience, ADAMA, Dow, BioWorks Inc., FMC Corporation, Nufarm, UPL, and Syngenta AG |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global pesticides market is fragmented, with many companies accounting for majority market revenue. Major companies are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective pesticides. Some major companies included in the global pesticides market report are:
- Bayer AG
- BASF SE
- Corteva Agriscience
- ADAMA
- Dow
- BioWorks Inc.
- FMC Corporation
- Nufarm
- UPL
- Syngenta AG
Strategic Development
- On 28 June 2023, Dhanuka Agritech Ltd., enhanced its line of crop care products by releasing the potent new insecticide DEFEND, which contains Triflumezopyrim 10% SC and provides total hopper protection. With just one spray on paddy, DEFEND provides instant protection against first-generation Brown Plant Hopper (BPH) and White Backed Plant Hopper (WBPH). It effectively controls insects at all phases of development.
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Some Key Highlights from the Report
- The herbicides segment is expected to account for largest revenue share in the global pesticides market during the forecast period. This is because herbicides are commonly used in agriculture, gardening, and landscaping to prevent weeds from competing with desirable crops or plants for nutrients, sunlight, and water. Herbicides work by disrupting essential processes in plant growth, such as photosynthesis or cell division, ultimately leading to the weed's death or inhibition of growth. In addition, proper usage is essential to minimize environmental impact and ensure effective weed control.
- The cereals & grains segment is expected to register steadily fast revenue growth rate in the global pesticides market during the forecast period. This is due to increasing use of pesticides in cereals such as wheat, rice, and maize, as well as other kinds of grains, to fight insect pests, weeds, and illnesses that can dramatically lower crop yields and affect the quality of produced grains. Pests that can destroy fields if left uncontrolled include aphids, insects, and stems borers, which are protected from cereal and wheat crops by insecticides.
- The Asia Pacific market accounted for largest revenue share in the global pesticides market in 2022. This is due to rising use of pesticides in the Asia Pacific region owing to increasing food requirement and need for crop protection, which emphasizes high agricultural yields. Many farmers in underdeveloped countries believe that using pesticides is the best way to safeguard the crops against pests, which are frequently their biggest threat. Pesticides, which are composed of chemicals that can control pests or influence plant growth, have given developing countries one method to raise yields.
- On 9 March 2022, FMC India introduced Corprima, a new insecticide based on research. Corprima, one of the biggest pain points for Indian farmers provides outstanding crop protection against fruit borers owing to FMC's industry leading Rynaxypyr insect control technology.
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Emergen Research has segmented the global pesticides market on the basis of type of pesticide, crop type, origin, application mode, and region:
- Type of Pesticide Outlook (Revenue, USD Billion; 2019–2032)
- Insecticides
- Herbicides
- Fungicides
- Rodenticides
- Molluscicides
- Nematicides
- Crop Type Outlook (Revenue, USD Billion; 2019–2032)
- Cereals & Grains
- Fruits & Vegetables
- Oilseeds & Pulses
- Non-food Crops
- Origin Outlook (Revenue, USD Billion; 2019–2032)
- Synthetic
- Biopesticides
- Application Mode Outlook (Revenue, USD Billion; 2019–2032)
- Foliar Spray
- Soil Treatment
- Seed Treatment
- Post-Harvest Treatment
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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