Press release
Pesticide Market Sale to Reach a Revenue of Around US$ 188 Bn by the End of 2031
Pesticide Market 2022
The global pesticides market is estimated to be valued at over US$ 108 Bn as of 2021. Consumption of pesticides are projected to increase at 5.5% CAGR and be valued at around US$ 188 Bn by 2031. Growing need for agricultural products is driving demand for pesticides across the world. Expansions, partnerships, collaborations, and investment in R&D by key players are being witnessed in this space.
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Demand for agricultural products is rising at a rapid pace across the globe. Food demand is increasing rapidly, especially across East Asia and South Asia Pacific. High growth in population is the key factor elevating demand for agricultural products.
With rising awareness toward environment protection, a huge shift in the consumer base toward organic foods has been observed over the recent past. Demand for bio pesticides has increased at a very rapid pace. With rising awareness among consumers toward environment protection and eco-friendly products, demand for bio-pesticides is expected to rise rapidly in the near future. However, stringent regulations imposed over the use of harmful synthetic chemicals are expected to stunt market growth to some extent going ahead.
Key Companies-
• Bayer Crop Science AG
• Marrone Bio Invention
• Adama Agricultural Solutions
• Certis USA LLC
• Dow Inc.
• Monsanto
• Isagro SPA
• Camson Bio Technology Ltd
• Andermatt Biocontol AG
• BASF SE
• Som Phytopharma India Ltd
• Varsha Bio science & Technology
• Syngenta AG
• Koppert Biological Systems
• BioWorks Inc.
• Valent Bio science corp
• Corteva agriscience
• UPL limited
Market players are involved in acquisitions, mergers, and expansion to gain a string foothold in this competitive space.
In July 2021, Corteva signed an agreement with Andermatt USA to provide U.S. farmers with new bio control solutions.
In Dec 2017, Koppert Biological Systems acquired Brazilian biological control company - BUG Agents Biologicos, which will help Koppert strengthen its position in the macro- biological crop protection market in Latin America.
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Key Takeaways from Market Study
• Global sales of pesticides are anticipated to reach a value of US$ 188 Bn by the end of 2031.
• By virtue of its high food and agricultural production, the East Asian region represents a commanding share in the global consumption of pesticides.
• Rising demand for food and agricultural products across the globe is elevating demand for pesticides.
• Stringent regulations imposed over various harmful and synthetic chemicals used in the production of pesticides are likely to hinder market growth over the coming years.
• Key manufacturers are engaged in market expansion activities through strategic acquisitions, mergers, and collaborations in order to a gain competitive edge in the market.
"Demand for bio-pesticides is increasing at a much higher rate as compared to conventional pesticides, owing to rising awareness about the environment among consumers," says a Persistence Market Research analyst.
More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a new market research report on the global pesticides market that contains industry analysis of 2016-2020 and opportunity assessment for 2021-2031.
The report provides in-depth analysis of the market through different segments, namely, product type, application, end use, and region. The report also provides supply and demand trends along with an overview of the parent market.
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Key Questions Answered in This Report -
• How much is the global market for pesticides currently worth?
• What is the main factor driving demand for pesticides?
• What will be the consumption outlook for pesticides through 2031?
• What are the key trends being witnessed in the global marketplace?
• Which 5 countries drive most of the demand for pesticides?
• How is France faring in the European market?
• Which countries are major producers and exporters of pesticides?
• How is the outlook for the market in Japan and S. Korea?
Request you to Read More-
Biopesticides Market - https://www.persistencemarketresearch.com/market-research/biopesticides-market.asp
Organic Fertilizer Market - https://www.persistencemarketresearch.com/market-research/organic-fertilizer-market.asp
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