Pesticides - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Pesticides Market is accounted for $57.00 billion in 2019 and is expected to reach $88.82 billion by 2027 growing at a CAGR of 5.7% during the forecast period. Some of the key factors propelling the market growth are increasing adoption of intensive farming techniques, decrease in cultivable land, and growing demand for food. However, the availability of alternative techniques is the restraining factor for the growth of the market.
Pesticides are chemicals used to eradicate or control different types of pests associated with agriculture that can damage crops and livestock and shrink farm productivity. Pesticides act as growth regulators in plants, defoliant for trees and plants, desiccant for fleas, and prevent thinning of fruit.
By type, the synthetic pesticides segment is expected to grow at a significant market share during the forecast period due to the acceptance of new farming practices coupled with the improved efficiency of this type of pesticides. Based on geography, Asia Pacific is anticipated to hold considerable market share during the forecast period as the developing economies of the region are focusing extensively on increasing crop yield and efficiency.
Some of the key players in Pesticides Market include BASF SE, Bayer AG, DowDuPont Inc, FMC Corporation, Syngenta International AG, Sumitomo Chemical Co, Monsanto Company, Nufarm Limited, Sinochem Group, and China National Chemical Corporation (ChemChina).
• Biochemical Pesticides
• Plant Incorporated Protectants
• Synthetic Pesticides
Crop Types Covered:
• Oilseeds & Pulses
• Plantation Crops
• Grains & Cereals
• Turfs & Ornamentals
• Commercial Crops
• Fruits and Vegetables
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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