What is the impact of macroeconomic factors on the Pesticides Market in future?

 Pesticides Market 2022

The global pesticides market is expected to witness a CAGR of 5.5% over the assessment period of 2021-2031 and expand around 1.8X in value over the next ten years.

Demand for agricultural products is rising at a rapid pace across the globe. Food demand is increasing rapidly, especially across East Asia and South Asia Pacific. High growth in population is the key factor elevating demand for agricultural products.

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With rising awareness toward environment protection, a huge shift in the consumer base toward organic foods has been observed over the recent past. Demand for bio pesticides has increased at a very rapid pace. With rising awareness among consumers toward environment protection and eco-friendly products, demand for bio-pesticides is expected to rise rapidly in the near future. However, stringent regulations imposed over the use of harmful synthetic chemicals are expected to stunt market growth to some extent going ahead.

Market players are involved in acquisitions, mergers, and expansion to gain a string foothold in this competitive space.

• In July 2021, Corteva signed an agreement with Andermatt USA to provide U.S. farmers with new bio control solutions.
• In Dec 2017, Koppert Biological Systems acquired Brazilian biological control company – BUG Agents Biologicos, which will help Koppert strengthen its position in the macro- biological crop protection market in Latin America.

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Key Takeaways from Market Study

• Global sales of pesticides are anticipated to reach a value of US$ 188 Bn by the end of 2031.
• By virtue of its high food and agricultural production, the East Asian region represents a commanding share in the global consumption of pesticides.
• Rising demand for food and agricultural products across the globe is elevating demand for pesticides.
• Stringent regulations imposed over various harmful and synthetic chemicals used in the production of pesticides are likely to hinder market growth over the coming years.
• Key manufacturers are engaged in market expansion activities through strategic acquisitions, mergers, and collaborations in order to a gain competitive edge in the market.

“Demand for bio-pesticides is increasing at a much higher rate as compared to conventional pesticides, owing to rising awareness about the environment among consumers,” says a Persistence Market Research analyst.

Competitive Landscape

The global market for pesticides has been identified as a fairly fragmented market due to the presence of a high number of participants.

Some of the key market players included in the report are Bayer Crop Science AG, Marrone Bio Invention, Adama Agricultural Solutions, Certis USA LLC, Dow Inc., Monsanto, Isagro SPA, Camson Bio Technology Ltd, Andermatt Biocontol AG, BASF SE, Som Phytopharma India Ltd, Varsha Bio science & Technology, Syngenta AG , Koppert Biological Systems, BioWorks Inc., Valent Bio science corp, Corteva agriscience, UPL limited, FMC Corporation, Vestaron, Innatrix Inc., Aphea.Bio, Terramerra PlantHealth, Vegalab, Evolution biotechnologies, Seipasa, Novozymes A/S, Nufarm, Bio best Group NV, BioControl AG, Jaivik Crop Care LLP, Parry America Inc., Bionema, Ecodeaz, Greenland Bioscience, Andermatt Biocontrol AG, Oro agri, Futureco Biosciece, Rolfes Agri, Redox Industries limited, Lemandou Chemicals, King Biotech, Awiner Biotech, AgbiTech LLC, Hebei Veyong Bio chemical, Arysta Life sciences, Biofa GmbH, Stokton Ltd, Bio Org Pro, Enviro Bio-Chem, and Antofénol.

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The above are identified as key manufacturers of pesticides. These market participants are engaged in market expansion activities and the research & development of new and more efficient crop protection products.

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