Pesticides And Agricultural Chemicals Demand To Nurture Globally
Pesticides are used to eliminate and control the variety of pests related to agriculture that can damage crops, livestock, and also reduce farm productivity. Further to control crop harming organisms like fungi, nematodes, mites, insects, rodents and other viruses, agriculture chemicals are used. Pesticides, fungicides, herbicides and insecticides are the basic chemical agents present under the agriculture chemicals. For formulation and preparation of agriculture and household pest control, chemicals are adequately present in pesticides and other agriculture chemical industry.
[ClickPress, Fri Sep 15 2017] The market is segmented into chemical type, application and geography. On the basis of chemical type, the market is divided into herbicides, insecticides, fungicides and other crop protection chemicals. On the basis of application the market is divided into crop-based and non-crop based. Crop-based is further segmented into grains, serials, oil seed, fruits and vegetables. Non-crop based is also segmented into turf & ornamental grass and others. On the basis of geography the market is segmented into North America, Europe, Asia Pacific, South America and Africa. Because of large demand in India, China and Brazil, Asia has become the fastest growing region.
According to the report, “Pesticide And Other Agricultural Chemicals Market Global Report 2017”, in 2016, Asia has accounted for the largest region in the pesticides and agriculture chemicals market with 49% market share. The presence of large farming community in India and China of using pesticides had led Asia to become the largest market. With 33% market share, America further accounted to be the second largest region. Also with 16% market share, Europe has been registered as the third largest market region for pesticides and chemicals market.
With around 42% of the total market share, herbicides managed to be the largest segment in the market of pesticides and agricultural chemicals. To control unwanted growth in plants a chemical substance is increasingly used called herbicide and it is usually a weed killer. With around 26% of market share, insecticides have recorded the second largest segment which was used to kill insects. Fungicides and all the biocide chemical compounds accounted for the third largest segment with 25% market share used to kill or inhibit fungi or fungal spores.
In the coming years, it is anticipated that the market will register an increase in the global per capita and will notice a rise in demand for these chemicals. The sales of pesticides are driven by some controlled and uncontrolled factors with the global market trends, demand, production and import and exports schemes.
The emergence of new species of pests, pesticides regulation and deregulation, input cost, adoption of GM crops, weather, and change in cropping acreage are some common factors that are foreseen to influence pesticides and agricultural chemical market in the future, thereby resulting in ameliorated CAGRs year after year.
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Ankur Gupta, Head Marketing &Communications