Overview and Scope
Speciality pesticides are agents or substances used to eliminate, repel, or control certain forms of plant or animal life that are considered pests. Speciality pesticides are widely used in speciality agriculture, including fruits and vegetables, tree nuts, dried fruits, horticulture, and nursery crops. Speciality crops are plants that are intensively cultivated.
Sizing and Forecast
The speciality pesticides market size has grown strongly in recent years. It will grow from $132.26 billion in 2023 to $142.96 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increased need for crop protection, expansion of precision farming practices, rise in global population, emergence of resistant pest strains, demand for sustainable agriculture, growing awareness of food safety, expansion of protected cultivation..
The speciality pesticides market size is expected to see strong growth in the next few years. It will grow to $191.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to globalization of agriculture, market demand for high-value crops, advancements in biopesticides, rapid expansion of organic farming, global food security concerns, focus on reduced environmental impact, regulatory support for sustainable practices.. Major trends in the forecast period include integrated pest management (ipm), innovation in formulations, advancements in seed treatment, biotechnological solutions in pest control, digital agriculture and smart pesticides, investment in research and development, crop-specific solutions..
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Segmentation & Regional Insights
The speciality pesticides market covered in this report is segmented –
1) By Type: Fungicide, Insecticide, Herbicides, Other Types
2) By Origin: Synthetic, Bio-Based
3) By Application: Grains, Cereals, Oilseeds, Pulses, Fruits And Vegetables, Other Applications
Asia-Pacific was the largest region in the speciality pesticides market in 2023. The regions covered in the speciality pesticides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for food is expected to propel the growth of the speciality pesticides market. Food crops are agricultural plants grown for human consumption, such as fruits, vegetables, grains, and others. Food consumption is increasing due to population increase and rising affluence in developing nations. Speciality pesticides are used to increase food productivity by enhancing yield and lowering losses brought on by insects, illnesses, and weeds. For instance, according to data from the Food and Agricultural Organization, a Canada-based body of the United Nations, global food production will need to increase by 70% to meet the growing global population growth that is forecasted to reach 9.6 billion by 2050. Therefore, the rising demand for food will drive the speciality pesticides market.
Key Industry Players
Major companies operating in the speciality pesticides market report are Syngenta Crop Protection AG (ChemChina), Bayer Crop Science LLC, BASF SE, Dow AgroSciences LLC, Sumitomo Chemicals Co. Ltd., Corteva Agriscience Division of DowDuPont, Monsanto Company (Bayer), FMC Corporation, UPL Limited, Nufarm Limited, ADAMA Agricultural Solutions Ltd., Arysta Lifescience Inc., Isagro SPA, Limin Group Co. Ltd., Hailir Pesticides and Chemicals Group Co. Ltd., Shandong Luba Chemical Co. Ltd., Jiangsu Changqing Agrochemical Co. Ltd., Guangdong Zhongxun Agricultural Science Co. Ltd., Zhejiang Heben Pesticide & Chemicals Co. Ltd., Nippon Soda Co. Ltd., Nissan Chemical Corporation, Mitsui Chemicals Agro Inc., Cheminova A/S, DuPont de Nemours Inc., Makhteshim Agan Industries Ltd., Sinochem International Corporation, Jiangsu Huifeng Agrochemical Co. Ltd., Jiangsu Yangnong Chemical Group Co. Ltd., Rotam CropSciences Ltd., Gowan Company LLC, Albaugh LLC
The speciality pesticides market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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