The Pesticide And Other Agricultural Chemicals Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pesticide And Other Agricultural Chemicals Global Market Report 2024, The pesticide and other agricultural chemicals market size has grown rapidly in recent years. It will grow from $102.9 billion in 2023 to $113.86 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to growth of crop yield enhancement, government policies and subsidies, disease outbreaks, climate conditions, globalization of agriculture.
The pesticide and other agricultural chemicals market size is expected to see rapid growth in the next few years. It will grow to $169.77 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to environmental and regulatory concerns, biological and organic solutions, population health and food safety, shift in crop patterns, climate change impact. Major trends in the forecast period include digital agriculture platforms, precision agriculture technologies, technological innovations, biological and biopesticides, digital agriculture and agtech.
The world population is growing and is expected to reach 10 billion by 2050. This is expected to significantly boost the pesticide and other agricultural chemicals market during the forecast period. An increase in the population creates more demand for food. Crop production, farming activities, and trade volumes will have to increase to meet the increased population. Additionally, farmers and commercial farming companies will increase acquisitions of arable land to increase crop production. This is expected to increase the demand for insecticides, herbicides, and fungicides in the forecast period.
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The pesticide and other agricultural chemicals market covered in this report is segmented –
1) By Type: Herbicides, Insecticides, Fungicides, Other Pesticide and Other Agricultural Chemicals
2) By Origin: Synthetic, Bio-Based
3) By Application: Grains and Cereals, Pulses and Oilseeds, Commercial Crops, Fruits and Vegetables, Other Applications
Toxicologists globally are adopting nanotechnology in the development of new, environmentally friendly insecticides. Nanoparticles have revolutionized the pharmaceutical and chemical industries. Pesticidal nanoformulations are ultrafine particles with enhanced permeability, stability, and solubility. Most engineers believe that nanotechnology can help make insecticides much safer. Nano-sized insecticides can be sprayed in lesser amounts on agricultural fields in comparison with conventional forms. For example, Lansiumamide B (antibacterial) is formulated as a nanocapsule to treat tobacco bacterial wilt. Thiamethoxam (insecticide) is sprayed as nanoscaled fiber, and Deltamethrin (insecticide) is formulated as a lipid nanoparticle.
The pesticide and other agricultural chemicals market report table of contents includes:
- Executive Summary
- Pesticide And Other Agricultural Chemicals Market Characteristics
- Pesticide And Other Agricultural Chemicals Market Trends And Strategies
- Pesticide And Other Agricultural Chemicals Market – Macro Economic Scenario
- Global Pesticide And Other Agricultural Chemicals Market Size and Growth
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- Global Pesticide And Other Agricultural Chemicals Market Competitive Benchmarking
- Global Pesticide And Other Agricultural Chemicals Market Competitive Dashboard
- Key Mergers And Acquisitions In Pesticide And Other Agricultural Chemicals Market
- Pesticide And Other Agricultural Chemicals Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Mitsui Chemicals Inc.
- BASF SE
- Marubeni Corporation
- Bayer AG
- Nutrien Ltd.
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