Agricultural Pesticides Market size is set to grow by USD 24.61 billion from 2024-2028, Increased use of herbicides boost the market, Technavio

NEW YORK, Aug. 21, 2024 /PRNewswire/ — The global agricultural pesticides market size is estimated to grow by USD 24.61 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.27%  during the forecast period. Increased use of herbicides is driving market growth, with a trend towards increasing product launches. However, challenging regulatory environment  poses a challenge. Key market players include 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..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Market Driver

The agricultural pesticides market is witnessing significant growth due to the increasing demand from farmers to protect crops from pest attacks, which can lead to substantial production losses. This trend is further fueled by the decrease in arable land in various countries. In response, vendors are expanding their product offerings by introducing new variants of agricultural pesticides. For instance, in January 2020, Syngenta launched new Miravis fungicides in Canada, featuring Adepidyn, a new Group 7 fungicide from the carboxamide chemical class. Similarly, in June 2019, Bayer introduced Aqua K-Othrine, a water-based insecticide for fogging that eliminates the need for diesel and reduces pollution. In March 2019, BASF launched Ventigra, an insecticide providing precise pest management for piercing-sucking insects like whiteflies, aphids, mealybugs, and scales. These product launches help vendors expand their customer base and increase market share in the global agricultural pesticides market. 

The Agricultural Pesticides Market is witnessing significant trends in the use of various types of pesticides. Synthetic chemicals like chlorinated hydrocarbons and organic phosphates continue to dominate the market. However, there is a growing demand for eco-friendly alternatives due to concerns over human health and environmental impact. Carbonates and other natural pesticides are gaining popularity. Infrastructural development activities, farming areas, homes, roadways, and crop land are major application sectors. Pesticides are used to protect plants from pests, fungus, weeds, and insects. They are essential for increasing agricultural productivity. However, the use of pesticides in organic farming and production of organic food products is on the rise. Toxicologists and horticulturists are working on developing non-insecticides and herbicides using nanotechnology. Laws and regulations are being enacted to ensure the safe use of pesticides in farming and infrastructure constructions. The market for agrochemicals, including fertilizers and pesticides, is expected to grow due to increasing demand for agricultural goods. Farmers and manufacturers are investing in factories to produce pesticides for row crops and fresh vegetables and fruits. The health effects of pesticides on humans and the environment are under constant scrutiny. It is crucial to ensure the safe use of pesticides to protect both farmers and consumers. 

Discover 360° analysis of this market. For complete information, schedule your consultation – Book Here!

Market Challenges

• The global agricultural pesticides market operates under strict regulatory frameworks set by international organizations like the Food and Agriculture Organization of the United Nations through the International Code of Conduct on the Distribution and Use of Pesticides. Compliance with these codes and other country-specific regulations influences the market, potentially limiting the use of certain pesticide products or leading to their withdrawal. Additionally, public governing bodies overseeing imports and exports, mergers and acquisitions, and other regulatory issues impact market players. Tax structures also play a significant role, requiring market participants to keep tax authorities updated and comply with amendments and interpretations of tax regulations, which in turn affect financial statement components like receivables, liabilities, and deferred tax assets and liabilities. Overall, adherence to numerous regulatory laws and obligations may negatively impact market growth.
• The Agricultural Pesticides Market faces several challenges in producing high-yield crops for Fruits, Cereals, Plantation crops, Vegetables, and Cash crops. Modern and Intensive farming techniques require effective pest management solutions. Climatic conditions, such as climatic fluctuations and irregular rainfall, impact crop production and increase the need for Pesticides. Fungicides, Acaricides, Bactericides, Defoliants and desiccants, Fumigants, Larvicides, Molluscicides, Nematicides, Ovicides, Rodenticides, Silvicides, Slimicides, Repellants, and Pest control agents are essential for managing local pest species. However, pesticide resistance and the emergence of new pests pose challenges. Pesticide choices include Conventional pesticides, Synthetic pesticides, and Bio-pesticides, such as Insecticides, Nematicides, Molluscicides, and Fungicides. Producers must adapt to these challenges to ensure optimal crop management and maintain export products’ quality.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This agricultural pesticides market report extensively covers market segmentation by  

1. Type 

• 1.1 Herbicides
• 1.2 Insecticides
• 1.3 Fungicides and bactericides
• 1.4 Others

Product 

• 2.1 Synthetic pesticides
• 2.2 Biopesticides

Geography 

• 3.1 APAC
• 3.2 South America
• 3.3 Europe
• 3.4 North America
• 3.5 Middle East and Africa

1.1 Herbicides-  The agricultural pesticides market is significant, supplying farmers with essential products to protect crops from pests and diseases. Companies manufacture and sell various types of pesticides, including herbicides, insecticides, and fungicides. Demand for these products is driven by the need to increase agricultural productivity and ensure food security. Market growth is influenced by factors such as farming practices, government regulations, and consumer preferences. Companies invest in research and development to create effective and eco-friendly pesticides, meeting the evolving needs of farmers and consumers.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global Agricultural Pesticides market is driven by increasing demand for high-yield crops and advancements in pesticide formulations. Meanwhile, the Agricultural Biologicals market is experiencing rapid growth, fueled by the rising shift towards sustainable farming practices. Concurrently, the Crop Protection Chemicals market is propelled by the need for effective pest management and evolving agricultural technologies. Together, these markets highlight the evolving landscape of agricultural innovation.

Research Analysis

The agricultural pesticides market encompasses a wide range of products used to manage various pests, including weeds, fungi, insects, and other organisms that threaten the health and productivity of plants. These pesticides include herbicides for controlling weeds, insecticides for managing insects, fungicides for preventing fungal growth, acaricides for mites, bactericides for bacteria, and pest control agents like nematicides for nematodes, molluscicides for mollusks, piscicides for fish, rodenticides for rodents, and bactericides for animals and microbes. Farmers rely on these pesticides to protect cash crops and export products from damage caused by local pest species. However, the overuse and misuse of pesticides have led to concerns about pesticide resistance and the impact on organic food production. Non-insecticides, such as botanical pesticides and biopesticides, are gaining popularity as alternatives to traditional pesticides due to their lower environmental impact.

Market Research Overview

The agricultural pesticides market encompasses a wide range of products used to manage various pests, weeds, fungi, and insects that threaten the growth and yield of plants, including fruits, vegetables, cereals, plantation crops, and cash crops. Pests include insects, weeds, fungi, and other organisms that can damage or destroy crops. Farmers and horticulturists rely on pesticides to protect their crops from local pest species and ensure a bountiful harvest. Pesticides include insecticides, herbicides, fungicides, acaricides, bactericides, defoliants and desiccants, fumigants, larvicides, molluscicides, nematicides, ovicides, rodenticides, silvicides, slimicides, repellants, and pest control agents. These pesticides can be synthetic or organic, with synthetic pesticides including chlorinated hydrocarbons, organic phosphates, and carbonates, while bio-pesticides are derived from natural sources. The use of pesticides is essential for modern and intensive farming techniques, but it also raises concerns regarding human health, the environment, and the impact on non-target organisms. Climatic conditions, fluctuations, and irregular rainfall can affect crop production and pesticide resistance, leading to the need for crop solutions and the development of new pesticide technologies, such as nanotechnology. The agricultural pesticides market also includes laws and regulations governing their use, as well as their production in factories and application on arable land, crop land, and other areas such as homes, roadways, and infrastructure constructions. Agricultural goods and agrochemicals, including fertilizers, are also part of this market.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Type
• Herbicides
• Insecticides
• Fungicides And Bactericides
• Others
• Product
• Synthetic Pesticides
• Biopesticides
• Geography
• APAC
• South America
• Europe
• North America
• Middle East And Africa

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/

SOURCE Technavio

Go to Source