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According to Stratistics MRC, the Global Pesticides Market is accounted for $47.35 billion in 2024 and is expected to reach $90.65 billion by 2030 growing at a CAGR of 9.5% during the forecast period. Pesticides are chemicals or biological agents used to prevent, control, or eliminate pests that harm crops, livestock, or human health. They help reduce crop losses and lower the risk of food borne illnesses by maintaining the quality and safety of produce. Pesticides also enable farmers to grow a wider variety of crops in diverse environments.
According to the Environmental Protection Agency (EPA) data, India Government has initiated the use of bioinsecticides as part of Integrated Pest Management (IPM), employing cultural, mechanical, and biological pest control methods. It is promoted by Central Integrated Pest Management Centers (CIPMCs) through programs like Farmers Field Schools and training initiatives.
Increasing adoption of modern farming techniques
Increasing adoption of modern farming techniques, such as precision agriculture and integrated pest management, enhances pest control efficiency. Precision agriculture uses technology to target pests more accurately, reducing overall pesticide use while improving crop yields. Integrated pest management combines chemical, biological, and cultural methods to optimize pest control and minimize environmental impact. These advanced techniques increase the effectiveness of pesticide applications and support higher productivity, thereby boosting demand for innovative and tailored pesticide solutions.
Environmental and health concerns
Environmental and health concerns arise from pesticide use due to potential risks such as contamination of soil and water, harm to non-target species, and human health issues like respiratory problems and cancer. These concerns lead to stricter regulations, increased scrutiny, and the push for safer alternatives. As a result, market growth can be hampered by higher compliance costs, reduced availability of certain products, and consumer demand for organic and sustainable farming practices.
Innovations in pesticide formulations
Advanced formulations, such as slow-release or targeted delivery systems, increase pest control efficiency and reduce the volume of chemicals needed. Innovations also lead to the development of pesticides with lower toxicity to non-target organisms and reduced environmental impact. These advancements support sustainable agricultural practices and comply with stricter regulations. Improved formulations also address challenges like pest resistance, making pesticides more effective and appealing to farmers. Consequently, these innovations contribute to increased adoption and market expansion.
Sustainability and organic farming trends
Organic farming emphasizes natural pest control methods and avoids conventional pesticides, driven by consumer demand for eco-friendly and health-conscious products. This shift leads to a decrease in pesticide usage and market demand. Additionally, sustainable practices often involve integrated pest management, which relies on alternative methods rather than chemical solutions. As more farmers adopt these practices, the market for traditional pesticides contracts, impacting overall growth in the sector.
Covid-19 Impact
The covid-19 pandemic significantly impacted the pesticides market by disrupting supply chains, causing delays in production and distribution. Lockdowns and restrictions affected agricultural activities and reduced demand for certain pesticides. Conversely, the crisis highlighted the importance of food security, leading to increased interest in crop protection solutions. The market saw a shift towards more sustainable and innovative pest management practices. Overall, while the pandemic caused short-term challenges, it accelerated trends toward efficiency and sustainability in the pesticide industry.
The ready-to-use segment is expected to be the largest during the forecast period
The ready-to-use segment is estimated to have a lucrative growth. Ready-to-use pesticides are pre-mixed formulations that require no additional preparation or dilution before application. They come in convenient forms like sprays or granules, making them easy for consumers to apply directly to affected areas. Ideal for immediate pest control, these products offer effective solutions for common household and garden pests. Their ease of use and quick action are key benefits, though it's important to follow safety instructions to avoid potential hazards.
The agricultural segment is expected to have the highest CAGR during the forecast period
The agricultural segment is anticipated to witness the highest CAGR growth during the forecast period. Pesticides in agricultural applications are chemicals used to protect crops from pests, diseases, and weeds. They enhance crop yield and quality by controlling unwanted organisms that can damage plants. However, their use raises concerns about environmental impact, including potential harm to non-target species, soil health, and water contamination. Integrated Pest Management (IPM) practices aim to balance effectiveness with minimizing negative effects on ecosystems and human health.
Asia Pacific is projected to hold the largest market share during the forecast period due to increasing agricultural activities, rising demand for food security, and advancements in crop protection technologies. Key factors driving this growth include expanding arable land, adoption of modern farming practices, and government initiatives supporting agricultural development. Countries like China and India dominate the market, with a strong focus on enhancing yield and managing pest resistance. The market is also witnessing a shift towards bio-pesticides and sustainable solutions, reflecting a growing emphasis on eco-friendly practices.
North America is projected to have the highest CAGR over the forecast period, owing to advanced agricultural practices, high crop yield demands, and increasing adoption of precision farming technologies. Regulatory frameworks in the U.S. and Canada are stringent, impacting product development and approval. Key players in the region include Bayer, Corteva, and Syngenta. The market is also influenced by trends in organic farming and sustainable agriculture. Overall, growth is supported by increasing demand for efficient and environmentally friendly pest control methods.
Key players in the market
Some of the key players profiled in the Pesticides Market include BASF SE, Bayer AG, Syngenta, Corteva Agriscience, FMC Corporation, ADAMA Agricultural Solutions, Nufarm Limited, Sumitomo Chemical, UPL Limited, Arysta LifeScience, Cheminova, Albaugh LLC, Sapec Agro, Dow AgroSciences, Monsanto and Best Agrolife Limited.
In June 2024, Best Agrolife Ltd has launched its new patented insecticide formulation named Nemagen, designed to combat resistant pests causing significant crop damage. Nemagen contains a combination of active ingredients chlorantraniliprole, novaluron and emamectin benzoate to provide broad-spectrum control of lepidopteran, coleoptera and diptera pests affecting vegetables, grains, fruits and pulses.
In May 2024, BASF has launched Efficon, a new insecticide, in India to help farmers tackle sucking pests. Classified under the new IRAC group 36, the product represents a new class of insecticides (Group 36 - pyridazine) with no known cross-resistance with existing products, making it a superior insecticide resistance management tool.