Worldwide, the pesticides industry has been witnessing a relatively steady growth, which has been primarily attributed to advancements in the biopesticides industry. While the prevalence of chemical or synthetic pesticides in crop protection would continue, human, animal and environmental health concerns would play key roles in driving growth for biopesticides. Emerging economies in Asia-Pacific and Latin America are likely take the lead in adoption of both pesticides and biopesticides. Specific major drivers for the pesticides industry outlined in this report include increasing demand for food quality and safety and the impact of developing regions in shaping the industry’s future. On the negative side, restraints limiting market growth include mounting costs of research and development and the controversy surrounding adoption of genetically modified crops.
The global volume market for pesticides is expected to register a CAGR of 6.2% between 2014 and 2020, with the value market likely to witness a marginally better CAGR of 6.9% during the same period. Though North America accounts for larger share in terms of both measured parameters, Asia-Pacific is likely to constitute the fastest growing region for pesticides.
Further segmentation of this report has included categorizing pesticides as synthetic pesticides and biopesticides, with sub-classifications within them including synthetic herbicides, synthetic insecticides, synthetic fungicides and other synthetic pesticides, and Bioherbicides, Bioinsecticides, biofungicides and other biopesticides. By application area, pesticide demand has been analyzed in terms of crop-based (including grains & cereals, oilseeds and fruits & vegetables) and non-crop-based (including turf & ornamental grass and other non-crop-based applications).
The analysis of major companies in the pesticides industry has taken into account strategy adopted, financial revenues and the latest developments in the market. Some of the leading players covered include BASF SE, Bayer CropScience, Dow AgroSciences, DuPont, Monsanto and Syngenta, among others.