$130+ Billion Pesticides Market Outlook, 2023 - Herbicides Will Gain $27 Billion of Global Annual Sales by 2023

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Mar 03, 2020, 16:45 ET

DUBLIN, March 3, 2020 /PRNewswire/ -- The "Pesticides Global Market Opportunities And Strategies To 2023" report has been added to ResearchAndMarkets.com's offering.

The global pesticides market size reached a value of nearly $84.5 billion in 2019, having grown at a compound annual growth rate (CAGR) of 4.2% since 2015, and is expected to grow at a CAGR of 11.5% to nearly $130.7 billion by 2023.

Growth in the historic period resulted from strong economic growth in emerging markets and intensive farming techniques in the pesticide market. Factors that negatively affected growth in the historic period were high research and development (R&D) costs and alternative techniques.

Going forward, faster economic growth in many developed and developing countries, and growing populations will drive growth. Factors that could hinder the growth of the pesticide market in the future include raising awareness of the negative effects of pesticides on the environment, rising demand for organic food products, geopolitical tensions, and patent expiry.

The pesticides market is segmented by type into fungicides, herbicides, and insecticides. The herbicides market was the largest segment of the pesticide market, accounting for $43.8 billion or 51.9% of the total in 2019 and this market is expected to be the fastest-growing segment going forward at a CAGR of 12.8%.

The Asia Pacific was the largest region in the pesticide market, accounting for 26.8% of the global market in 2019. It was followed by South America, North America and then the other regions. Going forward, the fastest growing regions in the pesticide market will be Africa and South America, where growth will be at CAGRs of 18.2% and 17.9% respectively. These will be followed by the Middle East and Eastern Europe where the markets are expected to grow at CAGRs of 15.8% and 10.3% respectively.

The global pesticide market is fairly consolidated. The top ten competitors in the global pesticides market made up 59.4% of the total market in 2018. Major players in the market include Syngenta, Bayer, BASF, Dow DuPont, FMC Corporation and others.

The global chemicals market, of which the pesticide market is a segment, reached a value of nearly $3,870.9 billion in 2019, having grown at 3.8% since 2015. It will grow at a compound annual growth rate (CAGR) of 7.4% to nearly $5,144.8 billion by 2023. The pesticides market was the 12th largest segment in the global chemicals market, accounting for 2.2% of the total in 2019. The other basic organic chemicals and ethyl alcohol market was the largest segment of the chemicals market, accounting for 25.4% of the total of $982 billion globally and has grown at a CAGR of 4% during the historic period. It is expected to grow at a CAGR of 6.3% during the forecast period.

The top opportunities in the global pesticide market will arise in the herbicides segment which will gain $27 billion of global annual sales by 2023. The pesticide market size will gain the most in Brazil at $7.09 billion.

Market-trend-based strategies for the pesticide market include an increase in adjuvants use, adoption of biopesticides, increasing scope of nano-insecticides, environmentally friendly alternatives, consolidation of major players, safety regulations leading to product development, low prices leading to increased demand for inorganic fungicides in developing countries and investing new product development.
Player-adopted strategies in the pesticide market include integrating agronomic expertise reinforcing M&A strategies to expand product portfolio, new product launches, and approvals and investing in research and development activities.

To take advantage of the opportunities, it is recommended that pesticide companies consider producing biopesticides, increase investments in research and development to produce environmentally friendly and nano pesticides, consider outsourcing their manufacturing facilities to developing countries and focus on offering products to the fruit growers.

Key Topics Covered

1. Pesticides Market Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction
6.1.1. Segmentation By Geography
6.1.2. Segmentation By Type

7. Pesticides Market Characteristics
7.1. Market Definition
7.2. Key Segmentation
7.2.1. Herbicides
7.2.2. Insecticides
7.2.3. Fungicides

8. Pesticides Market, Supply Chain Analysis

9. Pesticides Market, Product Analysis - Product Examples
9.1. Syngenta AG
9.2. Bayer AG

10. Altacor

11. Pesticides Market Customer Information
11.1. Pesticide Usage Practices Of Arable Crops In The UK
11.2. Changing Farming Practices In The UK
11.3. Pest Management Practices Of Fruit Growers In The USA
11.4. Pesticide Usage Practices On Grassland And Fodder Crops In Northern Ireland

12. Pesticides Market Trends And Strategies
12.1. Increase In Adjuvants Use
12.2. Adoption Of Biopesticides
12.3. Increasing Scope Of Nano-Insecticides
12.4. Environmentally Friendly Alternatives
12.5. Consolidation Of Major Players
12.6. Safety Regulations Leading To Product Development
12.7. Low Prices Leading To Increased Demand For Inorganic Fungicides In Developing Countries
12.8. New Product Development

13. Pesticides Market Opportunity Assessment, PESTEL Analysis
13.1. Political
13.2. Economic
13.3. Social
13.4. Technological
13.5. Environmental
13.6. Legal

14. Global Pesticides Market Size And Growth
14.1. Historic Market Growth, Value ($ Billion)
14.1.1. Drivers Of The Market 2015-2019
14.1.2. Restraints On The Market 2015-2019
14.2. Forecast Market Growth, Value ($ Billion)
14.2.1. Drivers Of The Market 2019-2023
14.2.2. Restraints On The Market 2019-2023

15. Pesticides Market, Regional And Country Analysis
15.1. Global Pesticides Market, 2019, By Region, Value ($ Billion)
15.2. Global Pesticides Market, 2015 - 2023, Historic And Forecast, By Region
15.3. Global Pesticides Market, 2019-2023, Growth And Market Share Comparison, By Region
15.4. Global Pesticides Market, 2019, By Country, Value ($ Billion)
15.5. Global Pesticides Market, 2015 - 2023, Historic And Forecast, By Country
15.6. Global Pesticides Market, 2019 - 2023, Growth And Market Share Comparison, By Country

16. Global Pesticides Market Segmentation
16.1. Global Pesticides Market, Segmentation By Type, 2015 - 2023, Value ($ Billion)
16.1.1. Herbicides
16.1.2. Fungicides
16.1.3. Insecticides

17. Global Pesticides Market Comparison with Macro Economic Factors
17.1. Pesticides Market Size, Percentage Of GDP, Global
17.2. Per Capita Average Pesticides Market Expenditure, Global

18. Global Pesticides Market Comparison With Macro Economic Factors Across Countries
18.1. Pesticides Market Size, Percentage Of GDP, By Country
18.2. Per Capita Average Pesticides Market Expenditure, By Country

19. Asia-Pacific Pesticides Market

20. Western Europe Pesticides Market

21. Eastern Europe Pesticides Market

22. North America Pesticides Market

23. South America Pesticides Market

24. Middle East Pesticides Market

25. Africa Pesticides Market

26. Global Pesticides Market Competitive Landscape
26.1. Company Profiles
26.2. Syngenta
26.3. Bayer AG
26.4. BASF SE
26.5. Dow DuPont Inc.
26.6. FMC Corporation

27. Key Mergers And Acquisitions In The Pesticides Market
27.1. UPL Acquired Arysta LifeScience
27.2. Sumitomo Chemicals Acquired Shares In Botanical Resources Australia
27.3. Coromandel International Acquired E.I.D. Parry's Bio-Pesticides Business
27.4. FMC Acquired DuPont's Pesticide Business
27.5. Dow Merged With DuPont
27.6. Hubei Sanoda Acquires Adama Agricultural Solutions
27.7. Bayer Acquired Monsanto
27.8. ChemChina Acquired Syngenta
27.9. Platform Specialty Products Corporation Acquired Arysta Life Science

28. Market Background: Chemicals
28.1. Chemicals Market Characteristics
28.1.1. Market Definition
28.1.2. Segmentation Type
28.2. Global Chemicals Market, Segmentation By Industry, 2015 - 2023, Value (% Percentage)
28.3. Global Chemicals Market, 2019, By Region, Value ($ Billion)
28.4. Global Chemicals Market, 2015 - 2023, Historic And Forecast, By Region

29. Global Pesticides Market Opportunities And Strategies
29.1. Global Pesticides Market In 2023 - Countries Offering Most New Opportunities
29.2. Global Pesticides Market In 2023 - Segments Offering Most New Opportunities
29.3. Global Pesticides Market In 2023 - Growth Strategies
29.3.1. Market Trend Based Strategies
29.3.2. Competitor Strategies

30. Pesticides Market, Conclusions And Recommendations
30.1. Conclusions
30.2. Recommendations
30.3. Product
30.3.1. Increased Use Of Adjuvants
30.3.2. Increase Production Of Biopesticides
30.3.3. Invest in Research And Development To Develop New Products
30.3.4. Produce Pesticides In Compliance With New Regulations
30.3.5. Produce Nanopesticides
30.4. Place
30.4.1. Moving Manufacturing Facilities To Countries Such As India
30.5. Price
30.5.1. Offer Competitive Pricing
30.6. Promotion
30.6.1. Participating In Conferences And Events To Maximize Reach
30.6.2. Creating Own Website
30.7. People
30.7.1. Focus on Fruit Growers In The USA

Companies Mentioned

Adama Agricultural Solutions
Ag-Chem Africa
Arysta Life Science
Astranova Tarim Ticaret Ve San. A.S.
BASF SE
Bayer AG
Botanical Resources Australia
Chema Industries
ChemChina
Coromandel International
Dhanuka Agritec
Dow DuPont Inc.
E.I.D. Parry
FMC Corporation
Hockley International
Hubei Sanoda
Interfarm (UK) Ltd
Jiangsu Huifeng Agrochemical Co.
Jubaili Agrotec ltd.
Kumiai chemical
Menta Co. Ltd.
Monsanto
Nanjing Red Sun Co.
PI Industries
Platform Specialty Products Corporation
Shandong Weifang Rainbow Chemical Co.
Sharda Crop
Sichuan Leshan Fuhua Tongda Agro-Chemical Technology Co.
Sumitomo Chemicals
Syngenta
UPL

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