Pesticide Preparations Market - Forecast(2023 - 2028)

Pesticide Preparations Market size is estimated to reach $81.7 billion by 2027, growing at a CAGR of 3.5% during the forecast period 2022-2027. The word pesticide is a blend of two words “Pest” and “Cida” where the former means insects, and the latter stand for kill. Therefore, pesticides are frequently delineated as substances that are extensively used to control several crop diseases instigated by microorganisms like nematodes, mycoplasmas, and biotic agents. Pesticides are not restricted to safeguarding crops from insects or other diseases but they have tons of uses ranging from insecticides to algicides. Algicides are commonly taken into account in households for impeding the growth of algae in swimming pools. Moreover, bactericides like disinfectants are of great help to clean various touch-prone things such as door handles especially in recent times when COVID-19 is roaming around the world. Pesticides fall under two main categories biopesticides and chemical pesticides. The former is prepared from natural material whereas the latter is from chemicals like phosphoric acid. The pesticide preparations market outlook is quite enchanting due to elevating agriculture and household demands. Proliferating demand for food ascribing to a broadening population are factors set to drive the growth of the Pesticide Preparations Industry for the period 2022-2027.

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Report Coverage

The report: “Pesticide Preparations Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Pesticide Preparations Market.

By Type: Chemical Pesticides, Biological pesticides.

By Application: Rodenticides, Algicides, Fungicide, Avicide, Bactericide, Insecticide, Herbicides/ Weeding, and others.

By Packaging: Tin containers, Pouches, and others.

By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).


Key Takeaway

  • Geographically, the Asia-Pacific Pesticide Preparations Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027.

  • The efficacy of pesticides in promoting plant health is said to be a preeminent driver driving the growth of the Pesticide Preparations Market. Harmful toxins of pesticides can set many health issues in motion which is said to reduce market growth.

  • Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Pesticide Preparations Market report.


Health side effects linked with the use of pesticides are Anticipated to Hamper Market Growth

There are several side effects accompanied by the use of pesticides in the agriculture industry and household practices which are anticipated to strangle the growth in the respective market. According to the Encyclopedia of Agriculture and Food Systems, only 18% of pesticides fall into the category of low resistance risk. Decomposition of pesticides occurs over a long interval of time therefore they leave their harmful residue in the final product, pollute the groundwater, and destroy the natural habitat which maintains the biodiversity cycle. Moreover, their accidental intake can originate complications such as diarrhea, nausea, abdominal pain or swelling, and others. On another hand, accruing health awareness among people can turn into a setback for the respective industry as people will not take more than a second to weed such harmful foods out of their grocery list.

Pesticide Preparations Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Pesticide Preparations Market. Pesticide Preparation Market companies of this market are-
BASF SE
DowDuPont
Nufarm
Syngenta AG
Monsanto
FMC Corporation
Bayer AG
Syngenta AG
ChemDatas agrochemicals
Land O’Lakes Inc.


Recent Developments

  • On January 12, 2022, Biotalys and Olon have entered into a long-term partnership for the production of protein-based biocontrols. The following would be a major step forward in production efficiency and scalability. The partnership is driven by the common vision of transforming food protection with unique protein-based biocontrol solutions and secures the global supply of Biotalys’ newly developed bio fungicide, Evoca™*, planned for market introduction in the United States in the second half of 2022 – pending regulatory approval.
  • On December 17, 2021, Pesticide Manufacturers would pay less in fiscal 2022 to register new pesticides. The following were announced by US Environmental Protection Agency made an announcement. The agency would charge $3660 per pesticide product, which is a ready decline of 8.5% from 2021. The EPA made the change to prevent exceeding the number of fees it can collect under the Pesticide Registration Improvement Extension Act of 2018, which authorizes the agency to collect a total of $155 million over 5 years. The EPA collected $92.6 million in the first 3 years, leaving $62.4 million for fiscal 2022 and 2023. It adjusted the fee amount, so it won’t bring in more than half that balance, or $31.2 million, in fiscal 2022. 
  • In February 2019, UPL Ltd acquired Arysta LifeScience (Arysta) from Platform Specialty Products for around $ 4.2 Billion. This further strengthened the company’s position as a significant player in agricultural solutions.

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Location: United States

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