Pesticides are naturally occurring or synthetically produced chemicals extracted or derived from plants or minerals that have pest control properties. Over the past few years, a growing shift towards bio-pesticides has been witnessed from the consumer side. There has been a significant level of investment from conventional agrochemical companies in the biological pesticide sector in recent years. This investment has encompassed new product development and expenditure on new facilities, as well as a number of significant product and company acquisitions.
The pesticides market has been segmented by type, crop type and geography exclusively. Based on the type, the market is categorized widely into bio-pesticides and synthetic pesticides. The bio-pesticides market is further divided into bio-chemicals, microbials and Plant incorporated Protectors. Synthetic pesticides have been further segmented into fungicides, herbicides, insecticides, defoliants, fumigants and others. The crop type segments include vegetables & fruits, oilseeds & pulses, cereals & grains, commercial crops, plantation crops, turfs & ornamentals and others. The report also focuses on different geographic regions and the key countries in terms of changing trends in pesticides market.
Renewable and cost effective properties increase the usability of pesticides and are thereby driving the demand for pesticides globally. Growing awareness for human-friendly and eco-friendly pesticide products is driving the demand for bio-pesticides over synthetic varieties. In addition, costly toxicology testing for new products, significant competition from other control agents (agrochemicals) are the key restraints for pesticides market.Major players involved in this market are mainly concentrating on R&D initiatives and capacity enhancements to cater the needs of the customers.
Geographically, pesticides market is segmented into North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW). North America and Europe are the major markets for pesticides market due to expanding organic farming in developed nations. Asia Pacific region is the growing market for pesticides due to increasing awareness of pesticides.
Some of the major companies profiled in this report are BASF SE (Germany), Bayer Crop Science (Switzerland), DOW Chemical Company (U.S), Monsanto Company (U.S.), Du Pont (U.S) and others. This report gives detailed information about the product value chain right from the beginning till end-use. The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants. The study includes the demand of this particular market on a global and regional scale for a five year period of 2017-2021.