Pesticides Market Size Worth $94.87 billion By 2030: IndustryARC

Pesticides Market size is predicted to reach $94.87 billion by 2030, growing at a CAGR of 6% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. The Pesticides Market is driven by increasing global population and rising food demand, necessitating higher agricultural productivity. However, challenges include environmental concerns over pesticide use, stringent regulatory standards, and growing consumer preference for organic products, impacting market growth and innovation in sustainable pest management solutions. The Chemical and Materials industry, finds IndustryARC in its recent report, titled “Pesticides Market – By Type [Bio-Pesticides (Microbial Pesticides, Bactericides, Insecticides, Fungicides, Nemacides, Others), Biochemical Pesticides (Attractants/Repellants, Enzymes, PGR, Semiochemicals, Others), Plant Incorporated Protectants], By Synthetic Pesticides (Fungicides, Herbicides (Non-Selective, Selective), Insecticides, Pyrethoids, Defoliants, Fumigants, Others), By Crop Type (Vegetables & Fruits , Oilseeds & Pulses , Cereals & Grains, Commercial Crops, Plantation Crops, Turfs & Ornamentals, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”

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South America to Register Highest Growth

In the geographical segmentation of the Pesticides Market, South America is emerging as the fastest-growing geographical segment in the Pesticides market. This region is experiencing rapid growth primarily due to expanding agricultural activities, driven by favorable climatic conditions and vast arable land. According to JPMorgan Chase & Co., agricultural production in South America will have to grow 80% by 2050 to meet an expected population increase of more than 35% in the same time period. Increased adoption of modern farming techniques, including precision agriculture and genetically modified crops, further contributes to the demand for effective pest management solutions. Government support for agricultural development and investment in infrastructure also play crucial roles in boosting pesticide use. Additionally, South America’s export-oriented agricultural sector, focusing on commodities such as soybeans, corn, and coffee, necessitates robust pest control measures to ensure high-quality yields. Despite challenges related to environmental sustainability and regulatory complexities, multinational agrochemical companies are actively expanding their presence in the region, offering tailored solutions to meet local agricultural needs. In conclusion, South America emerges as a dynamic growth market within the pesticides industry, driven by agricultural expansion, technological advancements, and strategic investments in sustainable farming practices.

Pesticides Market 2024-2030: Scope of the Report

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Pesticides Market Report – Key Takeaways:

• Bio-Pesticides segment to Register Highest Growth

In the segmentation of the Pesticides Market by type, the Bio-Pesticides segment is experiencing the fastest growth. This surge is fueled by increasing awareness and demand for environmentally friendly and sustainable agricultural practices. According to IFOAM – Organics International, the global organic farming area increased by over 20 million hectares in 2022, reaching 96 million hectares. The number of organic producers also saw a significant rise, surpassing 4.5 million. Bio-pesticides, derived from natural sources such as plants, bacteria, and minerals, offer a safer alternative to synthetic pesticides, reducing the risk of chemical residues in food and minimizing environmental impact. Stringent regulatory frameworks and rising consumer preference for organic produce are also driving the adoption of bio-pesticides. Governments and agricultural bodies worldwide are promoting the use of bio-pesticides through subsidies and supportive policies, encouraging farmers to transition from conventional chemical pesticides. Additionally, advancements in biotechnology and microbial research are leading to the development of more effective and targeted bio-pesticide formulations, enhancing their efficacy and appeal. Overall, the Bio-Pesticides segment represents a rapidly growing sector within the Pesticides Market, driven by regulatory support, technological innovations, and a global shift towards sustainable agriculture.

• Vegetables & Fruits Segment to Register Highest Growth

Vegetables & Fruits segment held a major market share in 2023 and is analyzed to continue its dominance over the market growing fastest during the forecast period 2024-2030. This acceleration is driven by the rising global demand for fresh produce, fueled by increasing health consciousness and dietary shifts towards plant-based foods. Vegetables and fruits require intensive pest management to ensure high yields and quality, leading to higher pesticide usage. The adoption of modern agricultural practices, such as greenhouse farming and precision agriculture, further boosts pesticide demand in this segment. Additionally, the high-value nature of vegetable and fruit crops makes investing in effective pest control measures economically viable for farmers. The emphasis on food safety and residue-free produce is prompting a shift towards bio-pesticides and integrated pest management strategies, enhancing the segment’s growth prospects. Moreover, government initiatives and subsidies supporting horticultural production, along with advancements in pest control technologies, are contributing to the robust growth of the Vegetables & Fruits segment in the Pesticides Market.

• Synthetic Pesticides Segment is Leading the Market

In the Pesticides Market, the Synthetic Pesticides segment is leading with a major market share. This dominance is primarily due to their broad-spectrum efficacy, reliability, and quick action against a wide range of pests. Synthetic pesticides have been widely adopted in conventional farming practices for decades, offering consistent and effective pest control solutions that help maximize crop yields. Their chemical composition allows for targeted application, making them highly efficient in protecting crops from insects, weeds, and diseases. Furthermore, synthetic pesticides often have longer shelf lives and are more cost-effective compared to bio-pesticides, making them a preferred choice for large-scale agricultural operations. Despite growing concerns over environmental impact and regulatory restrictions, the well-established infrastructure and continued advancements in formulation technologies keep synthetic pesticides at the forefront of the market. However, the industry is gradually shifting towards more sustainable practices, prompting manufacturers to innovate and develop safer, more eco-friendly synthetic pesticide alternatives.

• Environmental Impact and Regulatory Challenges is a Major Challenge

One major challenge facing the Pesticides Market is the environmental impact and the stringent regulatory frameworks associated with pesticide use. Pesticides, particularly synthetic ones, have been linked to soil degradation, water contamination, and loss of biodiversity. These environmental concerns have led to increased scrutiny and stringent regulations from governments and environmental agencies globally. Compliance with these regulations requires significant investment in research and development to formulate safer and more eco-friendly pesticides. Moreover, the regulatory approval process for new pesticides can be lengthy and costly, delaying market entry and reducing the potential for innovation. Companies must navigate varying regulations across different regions, adding complexity to their operations. As consumers and stakeholders become more environmentally conscious, the pressure to adopt sustainable practices intensifies. This necessitates a shift towards bio-pesticides and integrated pest management solutions, which, while beneficial, can be more expensive and less effective than traditional synthetic options.

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Key Opportunity Analysis:

Precision Agriculture and Digital Farming

A promising opportunity in the Pesticides Market lies in the integration of precision agriculture and digital farming technologies. Precision agriculture utilizes data analytics, GPS, and IoT devices to optimize farming practices, including precise pesticide application. In January 2024, Deere & Company entered into product / technology utilization agreement with SpaceX in order to provide cutting-edge satellite communications (SATCOM) service to farmers. This approach ensures that pesticides are used efficiently, reducing waste and environmental impact while enhancing crop yields and pest control effectiveness. Digital farming platforms and smart technologies enable real-time monitoring of crop health and pest activity, allowing for timely and targeted pesticide applications. The adoption of these technologies is expected to grow significantly as farmers seek to increase productivity and sustainability. Companies that develop and offer advanced precision agriculture tools and digital farming solutions are well-positioned to capitalize on this trend. Additionally, partnerships between pesticide manufacturers and technology providers can lead to innovative, integrated solutions that meet the demands of modern agriculture. This convergence of technology and agriculture presents a lucrative opportunity for the future growth of the Pesticides Market.

Development of Nano-Pesticides

The development of nano-pesticides offers another promising opportunity for the future of the Pesticides Market. Nano-pesticides leverage nanotechnology to create pesticide formulations with nanoparticles that enhance efficacy, reduce dosage, and minimize environmental impact. These advanced formulations can provide better-targeted delivery, improving pest control while reducing the amount of active ingredient needed. This not only lowers production costs but also addresses environmental and health concerns associated with traditional pesticides. The unique properties of nano-pesticides, such as increased solubility, stability, and controlled release, make them highly effective against pests and diseases. Ongoing research and development in this field are expected to yield innovative products that meet the stringent regulatory requirements and growing demand for sustainable agricultural solutions. Companies investing in nanotechnology for pesticide development can gain a competitive edge by offering cutting-edge products that cater to the evolving needs of modern agriculture, positioning themselves at the forefront of industry advancements.

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The Report also Covers the Following Areas:

• Pesticides Market Size and Forecast
• Pesticides Market Trends
• Pesticides Market Analysis by Product Type

Pesticides Market 2024-2030: Key Highlights

• CAGR of the market during the forecast period 2024-2030
• Value Chain analysis of key stake holders
• Detailed analysis of market drivers and opportunities during the forecast period
• Pesticides Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Pesticides Market

Covid and Ukrainian Crisis Impact:

The COVID-19 pandemic disrupted supply chains and labor availability in the Pesticides Market, leading to production delays and logistical challenges. However, increased focus on food security and agricultural resilience drove demand for effective pest control solutions. As economies recover, the market is expected to stabilize, with a renewed emphasis on sustainable and innovative pesticide products.

The Ukraine crisis has impacted the Pesticides Market by disrupting supply chains, particularly for raw materials and fertilizers, leading to increased costs and production delays. The instability has heightened global food security concerns, driving up demand for effective pest control solutions. This situation underscores the need for diversified sourcing and resilient agricultural practices.

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List of Key Market Players in Pesticides Market:

The Pesticides Market is fragmented with several companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• BASF
• Nufarm Ltd
• FMC Corporation
• Bioworks
• DuPont
• Dow agrosciences
• Syngenta
• Sumotimo Chemical
• Bayer AG
• Certis Biological

Related Reports:

Botanical Pesticides Market – is now witnessing strong demand as these pesticides are used to avoid natural pollination. The rise in the development of organic farming in developed and developing countries and a surge in the consumption of herbal and Ayurvedic medicine are expected to drive market growth.

Organic Pesticides Market – Growing consumer demand for organic products drives market CAGR. An increase in consumer demand for organic goods is one of the main reasons for boosting the value of the worldwide market for organic pesticides.

Agrochemicals Market – revenue crossed $267.6 billion as of 2023 with a CAGR of 4% and will continue to leverage a better economy in the forecasted period 2024 to 2030.

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