Pesticide And Other Agricultural Chemicals Market Size, Share, Growth, and Industry Analysis, By Type (Herbicides, Insecticides, Fungicides and Others), By Application (Agriculture and Forestry) and Regional Forecast to 2032

Updated On: 04 November 2024

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PESTICIDES AND OTHER AGRICULTURAL CHEMICALS MARKET REPORT OVERVIEW

The global Pesticide And Other Agricultural Chemicals Market size expanded rapidly in 2024 and the market is projected to grow substantially by 2032, exhibiting a prodigious CAGR during the forecast period.

The Pesticide and Other Agricultural Chemicals Market refers to products applied on agricultural crops for purposes of increasing yields and controlling pests and diseases affecting crops as well as weeds. It contains different types of segments like herbicides, insecticides, fungicides, and others chemicals. The market is stimulated by the necessity to increase the yield per unit area in agriculture due to the growing number of people and the development of Chemistry in relation to obtaining better and ecologically safe reagents. Technological advancement in precision agriculture and integrated pest management also boosts the market growth due to the rationalised use of agricultural chemicals.

Current market trends revealed are the rise in the regulatory of chemical products to enhance their safety and the sustainable products that are already in the market today which include biopesticides and Eco chemicals. Also, there is increased adoption of organic farming and concern for organic foods and this has an impact on the kind of products offered in the markets. Alternatively, by location, significant areas comprising North America, Europe, Asia-Pacific are noteworthy seen as being developed areas of the global area although the take up differs based on agriculture practices and policies.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Fluctuations in Demand

The global COVID-19 pandemic has been unprecedented and staggering; with the pesticides and other agricultural chemicals market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Global supply chain was disrupted by the pandemic in production, distribution and availability of agricultural chemicals. Amid COVID measures such as lock down and restriction of movement impacted the flow of raw materials and products causing delay in delivery of same. For such reasons, the market tended to fluctuate over time by reflecting increasing or decreasing demand relative to changes in agricultural and economic production. Where demand declined in some regions because of lower agricultural production, the latter found demands rising because growers and producers needed to guard against food shortages on their farms.

Fluctuations in distribution of such products and change in customer needs affected the price swings for pesticides and agricultural chemicals. Raw material costs went high and so did the cost of transportation bring about higher costs of end products. The market is anticipated to boost the pesticides and other agricultural chemicals market growth following the pandemic.

LATEST TRENDS

"Sustainability and Eco-Friendly Products to Drive Market Growth"

Agricultural chemical has great demand for its ecofriendly products and the development of new and sustainable chemicals. This incorporates biopesticides, organic pesticides, and products that will have less adverse effects on the environment. This will help in reducing chemical residues and improve on the conditions of the soil and water. Organic pesticides, those which are bio based, are receiving a better reception among consumers. It is the future of chemical with organic benefits and it replaces synthetic chemicals, and is regarded safer and sustainable. The market for biopesticides is growing because they are now an essential part of IPM systems. These latest developments are anticipated to boost the pesticides and other agricultural chemicals market share.

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PESTICIDES AND OTHER AGRICULTURAL CHEMICALS MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Herbicides, Insecticides, Fungicides and Others.

• Herbicides: Herbicides are chemicals that are used to suppress or remove the undesirable growths or any plant (weeds) which interfere with crops in their struggle for nutrients, water and light. They can also be selective: they are designed to eradicate particular type of weed, or non-selective, which affect all the vegetation in their path. Herbicides are necessary to control weeds and for increasing the yield of the crops without suffering from competition.
• Insecticides: Insecticides are used to control or eliminate insect pests which have the ability to reduce yields, cause diseases or destruct plant produces. These function by specializing in a certain phase in the development of insects or in a certain process of their physiology; they may be systemic, that is, taken up by the plants, or contact. Insecticides that are effective are quite important to prevent insect attacks which leads to crop destruction & has to result in a good yield.
• Fungicides: Fungicides are also employed in the management of diseases affecting crops whereby they help in the hindrance of rise of fungi diseases such as mildews, rusts and blights. They act by suppressing fungal development or eradicating the fungal causative agent of the disease. Fungicides aid in the protection of production and quality by controlling diseases that would likely harm crop production.

By Application

Based on application the global market can be categorized into Agriculture and Forestry.

• Agriculture: Some chemicals include pesticides in agricultural sports for the reason of controlling pests, illnesses, and weeds so that you can increase yields in plants. These encompass the weed-manipulating herbicides, the insect-manipulating pesticides, and the fungal-control fungicides. Its use must adhere to the right prescription if you want to recognize high yields in production and food conservation.
• Forestry: In forestry, insecticides and chemical compounds are used in the control of pests and illnesses, in addition to the control of invasive species in trees and forested areas. These are, as an example, eradicating bugs that may have inflamed a few bushes, preventing fungal illnesses, and suppressing weeds inside the reforestation exercise. As a result, chemical control is an extremely critical aspect of woodland health and wooden production.

DRIVING FACTORS

"Increasing Global Population to Boost the Market"

The requirements to increase food production due to the increasing number of people in the world lead to the application of pesticides and agricultural chemicals in increasing production and avoiding food shortages. This is because growth in the application of integrated pest management whereby farmers employ both chemical and non-chemical pest control measures promotes the use of specific agricultural chemicals that form part of the integrated pest control plan.

"Advancements in Research and Development to Expand the Market"

Innovations like precision farming, smart delivery systems, better formulations and other related technologies that are enhancing the applicability and impact of pesticide uses. Regular research and development make way to improved pesticides, herbicides, and fungicides to produce better results. This includes development of safer, more specific chemicals, that in turn increase demand. These factors are anticipated to drive the pesticides and other agricultural chemicals market share.

RESTRAINING FACTOR

"Environmental and Health Concerns to Potentially Impede Market Growth"

These include precision farming, smart delivery systems, better formulations and other related technologies that are enhancing the applicability and impact of pesticide uses. Regular research and development make way to improved pesticides, herbicides, and fungicides to produce better results. This include development of safer, more specific chemicals, that in turn increase demand. The factors are anticipated to hinder the growth of the pesticides and other agricultural chemicals market growth.

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PESTICIDES AND OTHER AGRICULTURAL CHEMICALS MARKET REGIONAL INSIGHTS

Asia Pacific Dominating the Market with Large Agricultural Sector and High Population Growth

"The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa."

Many countries of the Asia Pacific such as China, India and Japan have large agricultural fields that fuel large demand of pesticides and other agricultural chemicals. Pesticides requirement is driven by the desire to grow more crops per unit area and control pests on commercial farms. Thus, population growth in the region acts as pressure towards food production systems in order to feed the population which is on the rise. This in turn makes the use of agricultural chemicals for better production in order to feed the growing population. Several governments in the region prefer subsidizing and supporting inputs for example pesticides with an aim of enhancing production of food and efficiency in agriculture. Such support extends support for the usage of chemical products.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

The pesticides and other agricultural chemicals market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, materials, and smart features in pesticides and other agricultural chemicals, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Bayer [Germany]
• Syngenta [Switzerland]
• BASF [Germany]
• DowDupont [U.S.]
• ChemChina: Beijing, China

INDUSTRIAL DEVELOPMENT

February 2022: The newly formulated Miravis Neo is a fungicide designed for multi-site activity, used in protecting cereal and soybean crops from a number of fungal pathogens. It makes use of three active ingredients to achieve lasting control of diseases and enhanced plant health status. It is functions to increase the capability of yield and production.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.