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(MoneyNewsWire.Net, June 23, 2017 ) The Global Crop Protection Pesticides Market has been estimated at USD 70.00 Billion in 2016 and is projected to reach USD 90.62 Billion by 2021, at a CAGR of 5.3% during the forecast period from 2016 to 2021. Pesticides constitute the largest Share of the Crop Protection Pesticides, with Bio-pesticides accounting for a comparatively minute share. However, due to the environmental concerns regarding the use of synthetic pesticides, there is a great increase in the demand for eco-friendly bio-pesticides. Pesticides are most commonly used as plant protection products that protects plants from damaging influences such as weeds, plant diseases or insects. They constitute a class of agrochemicals used for preventing the destruction of crops by pests, diseases and weeds.
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ncreased crop yield and efficiency, growing demand for food safety & quality amidst the stringent regulation, demand for organic and completely natural foods and increasing awareness about pesticides that resulted in increased use of pesticides are driving the Global Crop Protection Pesticides Market. High costs of research and development, strict government regulation on pesticides residues on crops and reduced the credit access to the farmers because of various political and economic conditions of the nations are constraining the market growth globally.
Global market for Pesticides is segmented into Crop-based Application and Non-crop-based Application. Each of these segments are further sub segmented as follows: based on Crop-Based Applications- Grains & Cereals, Oilseeds and Fruits & Vegetables, based on Non-Crop-Based Applications- Turf & Ornamental Grass and Other Applications. Pesticide Market Is also segmented into type which is further subdivided into Synthetic and Bio-pesticides. Each of these are further sub divided into Herbicides, Insecticides, Fungicides, Other Synthetic Pesticides and Bio-herbicides, Bio-insecticides, Bio-fungicides Other Bio-pesticides respectively.
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Geographically, Global market for Pesticides is segmented into North America, Asia Pacific, Latin America, Europe, and Africa & Middle-East. The growth is high in developing countries of Asia, South America, and. Europe. North America is the leading market for pesticides where Asia pacific is witnessing the highest growth rate due to increase in population in the region which led to increase in agricultural practices, ensuing greater utilization of pesticides.
Marrone Bio Innovations, DuPont, Arysta Life sciences, BASF, and Dow Agrosciences are the most active companies in the Global Crop Protection Pesticides market along with American Vanguard, Cheminova, Chemtura Corp, Monsanto, Natural Industries, Bayer CropScience, Novozymes A/S. Nufarm Ltd, Sumitomo Chemical, Syngenta AG, Valent Biosciences, FMC Corp, Isagro SpA, Ishihara Sangyo Kaisha, Makhteshim Agan, Chr Hansen, BioWorks.
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