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A pesticide is a chemical or a biological agent such as a virus or disinfectant that kills pests. Nowadays, the use of pesticides is so common that the term pesticide is often treated as synonymous with plant protection product. Pesticides are often used to eradicate or control a variety of agricultural pests which could damage crops and livestock and reduce farm productivity. Key factors driving the pesticides market are arable land, increasing population and requirement for improving crop yields. Also, increase in global population results to rise in food demand. The growing percentage of calorie intake is also an additional factor for rising food demand. The demand for bio-pesticides and adoption of herbicide-resistant crop by farmers is also driving this market. Whereas, regulatory authorities such as EPA (Environment Protection Agency) often come up with strict laws related to restricting the use of pesticides and the increasing awareness about ill-effects of pesticides is expected to hamper this market. The global pesticides market is generally segmented based on product, application and geography. By product, this market is segmented into synthetic pesticides and biopesticides. Synthetic pesticides are further classified into synthetic herbicides, synthetic insecticides, synthetic fungicides, synthetic rodenticides and synthetic larvicides whereas biopesticides are classified into bioherbicides, bio insecticides, bio fungicides, bio rodenticides and bio larvicides.
Generally, insecticides are used to kill insects, herbicides to kill weeds, rodenticides to kill rodents and fungicides to control fungi. Based on application, the global pesticides market is segmented into crop-based and non-crop based. Crop based can be further classified into grains & cereals, oil seeds and fruits & vegetables while non-crop based can be segmented into turf & ornamental grass and others. Pesticides are also engaged in controlling organisms such as bees, wasps, ants. They protect animals from illnesses which is caused by fleas. They are used to prevent disease in humans that could be caused by moldy food or diseases produced as pesticides restricts the fungal growth. Pesticides can also be used to clear roadside weeds, trees and bushes. Pesticides protect homes from pest infestations such as termites and mold. They are employed in grocery stores and food storage facilities to manage rodents and insects that infest food such as grain. Geographically, the global pesticides market is segmented into North America, Europe, Asia Pacific and Rest of the World. Asia Pacific is an obvious producer of rice, wheat and vegetables.
Therefore, the demand for pesticides is high in this region and crop-based pesticides are anticipated to drive this market during the forecast period. The pesticides market in North America is also estimated to expand rapidly whereas, in Europe this market is expected to expand during the forecast period as farmers are focussing on agriculture, eventually, boosting the utilization of pesticides for crops. The key competitors of this market profiled in the report are Adama Agricultural Solutions Ltd (Formerly Makhteshim Agan Industries Ltd), American Vanguard Corporation, Arysta LifeScience, BASF SE, Bayer CropScience AG, Bioworks Inc, Cheminova A/S, Chemtura AgroSolutions, Dow AgroSciences LLC, DuPont, FMC Corporation, IsAgro Spa, Ishihara Sangyo Kaisha Ltd, Marrone Bio Innovations Inc, Monsanto Company, Natural Industries -Novozymes, Nufarm Ltd, Syngenta International AG, Valent Biosciences Corp, Patents Scenario, Nippon Soda Co. Ltd, Sumitomo Chemical and UPL Ltd.
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