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Pesticides Market by Product Type Conventional Chemical (Herbicide, Fungicide, Insecticide) | Bio pesticides (Bio control Agents, Plant-Incorporated Protectants)
According to Persistence Market Research's most recent market report, the global market for Pesticides will reach US$ 107,834.1 Mn in 2023. The market for Pesticides is expected to reach US$ 184,196.3 Mn in value by 2033 with a steady growth rate of 5.5%.
| Attributes | Key Insights |
|---|---|
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Pesticides Sales (2022A) |
US$ 102,483.7 Mn |
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Pesticides Demand (2023E) |
US$ 107,834.1 Mn |
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Pesticides Market Projections (2033F) |
US$ 184,196.3 Mn |
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Value CAGR (2023-2033) |
5.5% |
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Collective Value Share: Top 3 Countries (2023E) |
42 - 46% |
Pest control agents are compounds known as pesticides. Insecticide, nematicide, molluscicide, piscicide, rodenticide, bactericide, insecticide, animalicide, microbicide, fungicide, and lampricide are some examples of these. Based on chemicals considered during the production of pesticides, pesticides are mainly categorized under two types Conventional/Synthetic pesticides and Bio-pesticides.
Pesticides produced with the help of synthetic chemicals and are most widely used type of pesticides for insect control. The main synthetic groups used in production of conventional pesticides are chlorinated hydrocarbons, organic phosphates (organophosphates), and carbonates. They are usually toxic in nature.
Bio pesticides are such chemicals that are originated from natural means (i.e. Animal. Plants, bacteria and some minerals). Bio-pesticides are usually less toxic than conventional chemicals and hence have no or negligible adverse impact over human health and environment
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Population expansion has been resulting in a reduction in farming area during the last few years. With an increase in factories, homes, roadways, and other infrastructure constructions, rapid urbanization and industrialization have been reducing the amount of arable land. A research projected that during the previous decade, very less crop land was available for harvestation. The landarea used for harvesting crops globally shriveled by a 1.8% year over year. The amount cropland that may be harvested decreased from 1.8 billion hectares in 2020 to 1.3 billion hectares in 2017 and 1.2 billion hectares in 2020.
Owing to consistent shrinkage of cropland and agricultural area demand for agrochemicals has increased at rapid pace with an average grwoth of 3% over the historical assessment period 2017 – 2022. On the other hand, major agriculture economies such as Brazil, India, and various others are projected to invest high capital in infrastructural development activities over the forecast period. Such investments is projected to shrivel the cropland and propel the sales of pesticides with an marvelous growth rate of 5.5% over the upcoming assessment period of 2023-2033
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According to estimates, there will be 7.8 billion people on the planet in 2020, an increase of 1.05% from 2019 to 2020. which in 2022 reached the 8 Bn milestone. Global food consumption has increased due to high population growth, which has increased demand for agricultural goods.
Global food consumption has augmented due to extraordinary population hike, driving up demand for agricultural goods. Due to these factors, the application of agricultural chemicals to enhance crop yield and agricultural industry advancements has increased. As a result, using agrochemicals like agrochemicals has become essential to supplying the world's growing food demand. Global need for innovative technologies and developments in the agriculture sector is also being driven by this. Agrochemicals are crucial for enhancing crop quality and productivity.
Due to the expanding population, there is a significant amount of pressure on the agriculture industry to meet the rising need for food. Thus, during the past several years, a variety of technologies have been employed to increase the output of the available arable land. It is essential to assure higher yield with the accessible resources due to the increase in demand for agricultural goods, and this is increasing the use of various agrochemicals to increase crop yield and productivity.
"Shrinking Crop Harvesting Area and Need for Better Yield per Unit Area of Farmland"
Over the past few years, there has been a decrease in farming space due to population growth. The amount of arable land has been declining due to rising urbanization and industrialization, which have increased the building of industries, housing, roads, and other infrastructure.
According to research, crop acreage has been harvested on average much less during the last 10 years. Around the world, the land used for agricultural harvesting shrank by a substantial 1.8% per year. From 2 billion hectares in 2020 to 1.3 billion hectares in 2017 and 1.2 billion hectares in 2020, crops that may be harvested will be reduced.
Moreover, in order to fulfill the rising need for foodstuffs owing to an expanding population, greater agricultural output and high crop productivity have become essential. Agrochemicals are essential for raising agricultural production and output. Insecticides and fertilizers are examples of agrochemicals that are used to protect crops from disease and encourage plant growth. The business is expanding globally as a result of the requirement for increased yield per unit area of cultivable land due to the shrinking amount of arable land.
"Agricultural Development, supported by Economic Growth"
IMF data show that the global economy grew by 2.9% (real GDP) in 2019. Economic growth boosts people's purchasing power while also raising their standard of living. As people's disposable income increases, so do their eating habits. Food consumption has grown more quickly than population growth as a result of people's changing eating habits. As a result, pesticides are becoming more necessary. Crops are treated with pesticides to reduce insect damage, increase crop yield, and enhance productivity. As a result, it is expected that the need for pesticides will rise with the agriculture industry.
Developing countries finance the expansion of several industries. The agriculture industry has a major impact on a nation's GDP. As a result, any economic growth is often a positive sign for the agriculture sector.
"Shifting Consumer Preference Towards Organic Agriculture Products"
Globally, awareness of environmental deterioration is quickly growing. To stop environmental deterioration, a number of regional governments and environmental regulatory organizations are enforcing strict laws.
Many campaigns and movements have been started by individuals, government bodies, and to increase awareness of the environment and the detrimental consequences of using synthetic chemicals that are harmful to the environment and eventually affect human health.
Recent years have seen a significant movement in customer propensity toward organic foods due to growing environmental consciousness. Over the projected period, a sizable customer base is anticipated to switch over to organic foods.
Since pesticides are not used in the production of organic foods, the market for pesticides is expected to experience growth challenges throughout the forecast period of 2023–2033.
What Promotes Manufactures to Expand In China?
China is anticipated to rank among the top nations in the worldwide pesticide market. In 2023, it is estimated that China would contribute more than 90% of the pesticide sales income generated across the East Asian Region.
With about 1.4 billion people, China has the largest population in the world. Food and other agricultural goods are in great demand in a nation with such a large population. Farmers in the nation are using a variety of techniques to boost production and supply the nation's food needs in order to meet the rising demand.
Government policies that are supportive to manufacturers are used by local manufacturers. Manufacturers located in industrialized nations like North America and Europe, however, must adhere to a number of onerous rules. The implementation of such restrictions globally is encouraging firms to grow in China, increasing China's capacity for pesticide manufacturing.
Why Pesticide Demand is high in US?
The US pesticide sector is consolidated, as compared to the worldwide fragmented pesticide sector, with a few important companies, including Bayer Crop Science, Syngenta LLC, BASF SE, and a few others, dominating the majority of the market. To achieve a competitive advantage in the market, this company competes on the basis of costing, technology, research and development, diversity in portfolio, and other factors.
The usage of biopesticides in the United States is rising due to the American’s high awareness towards ecological protection and eco-friendly products. According to Persistence Market Research, the nation will soon secured the leading spot in consumption of Biopesticides Market. The US government's organic labeling and certification along with various subsidies on production of organic agricultural products is encouraging the use of biopesticides among farmers. According to a report, the country is witnessing substantial growth in registration of land for organic farming at astounding rates, which is anticipated to drive the need for biopesticides throughout the projection period of 2023–2033.
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Why Bio Pesticides are Gaining More Traction than Conventional Pesticides?
Various trends and promotion campaigns like organic farming, Integrated Pest Management (IPM), and others supporting the use of bio-pesticides over conventional pesticides for environment protection. Such promotion campaings are promoted by both fronts (i.e. supply side and demand side). Consumers are shifting towards bio-pesticides owing to increasing awareness towards various deteriometric health effects of conventional pesticides over human health along with various benefits of using bio-pesticides. On the other hand, manufacturers are shifting towards production of bio-pesticides owing to consistent growth in regulations imposed by regional governments over the use and production of chemicals during the production of agrochemicals. Apart from this manufacturers are relishing various governmental initiatives like subsidies, tags, and financial help provided for production and purchasing of bio-based products is elevating the sales of bio-pesticides over the forecast period.
Which is the Highest Consumer Application of Pesticides?
Pesticides are most widely used in the agricultural sector, pesticides most frequently used to defend crops against various types of damages from insects, fungus, weeds, and other organisms. About one third of the pesticides generated worldwide are anticipated to be used by row crops. Because of the significant population growth, there will likely be an increase in demand for food and agricultural goods, which will drive up the price of pesticides used in agriculture.
Key market participants are engaged in strategic expansions to increase the company’s geographical presence by Acquisitions/Mergers and collaborations activities. Moreover, some manufacturers are engaged in development of new and innovative products through research and development activities.
Some of the key developments are :
All of such developments has been tracked by Persistence Market Research in its latest market study.
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2017-2022 |
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Customization & Pricing |
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The global market of Pesticides is estimated to reach a valuation of US$ 107,834.1 Mn in 2023.
The Pesticides demand is anticipated to witness a growth rate of 5.5% over the forecast period of 2023 and 2033 in terms of value.
According to the Market Research Analysis marrone bio invention, adama agricultural solutions, certis USA LLC, camson bio technology ltd., andermatt biocontrol AG, UPL Limited, Corteva Lifescience etc. are identified as key market participants in the pesticides business.
Key players in the global Pesticides market are expected to account for about 40 - 45% of the overall market share.
The top countries driving the global Pesticides demand are the China, U.S., India.
