Agricultural Pesticide Market Overview
Pesticides are chemicals intended for controlling, preventing, destroying any pest, including vectors of human or animal disease, unwanted species of plants or animals, causing harm during or interfering with the processing, storage, production, transport of food, agricultural commodities, wood products or animal feedstuffs. The most common pesticide is herbicide which account for 80% of all pesticide use. These are intended to serve as crop protection products against weeds, fungi, insects or bacteria.
Growing population and declining arable land to feed the resultant population, increasing pest concerns, innovation in spraying equipment, rising demand for industrial feedstock crops and the use of more sophisticated farming techniques, resistant pest populations and environmental concerns, growing production of rapeseed, cereal crops, oilseeds and sugarcane along with improved farming techniques are driving the growth of the Global Agricultural Pesticide Market. However, development of safe alternatives such as bio-farming and organic pesticides and limited number of skilled professionals are hampering the growth of the market.
Agricultural Pesticide Market Forecast Report (2018-2023)
Global Agricultural Pesticide Market is expected to grow at a significant CAGR in forecast period 2018-2023.
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Agricultural Pesticide Market Segmentation
Global Agricultural Pesticide Market is segmented on the basis of product type, crop type, distribution channel and region. On the basis of product type, the market is segmented into herbicides, insecticides, fungicides, rodenticides, bactericides and others. Herbicides have the largest revenue because it is the most commonly used pesticide. Depending on the crop type, the market is segmented into wheat, corn, rice, pasture & forage, soybeans and other crops. On the basis of distribution channel, the market is segmented into retailers, online, supermarkets, home centres and others
The Agricultural Pesticide Market has also been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. Latin America countries mainly Argentina and Brazil have the largest production due to the increased farming of biofuel crops and the use of genetically modified crops. It is followed by the North America and Europe, where the market is aided by the increasing demand for industrial feedstock crops and the use of more sophisticated farming techniques. Asia- Pacific countries have the fastest growing rate due to the emerging economies, rising pesticide production, improved domestic pesticide availability and facilitated sharply increasing utilization rates.
The major companies dominating this market for its products and services are
- Israel Chemicals,
- Yara International ASA,
- BASF SE,
- The Mosaic Co.,
- Dow Chemical Limited.
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