The Pesticide Inert Ingredients Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pesticide Inert Ingredients Global Market Report 2024, The pesticide inert ingredients market size has grown strongly in recent years. It will grow from $4.83 billion in 2023 to $5.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increased agricultural productivity demands, expansion of agrochemical industry, pesticide resistance management, regulatory compliance and safety standards, focus on environmental impact.
The pesticide inert ingredients market size is expected to see strong growth in the next few years. It will grow to $6.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to emergence of precision agriculture, focus on biorational pesticides, demand for microbial pesticides, stricter environmental regulations, climate change adaptation strategies, consumer demand for organic products. Major trends in the forecast period include customization for precision agriculture, nanotechnology in formulations, inert ingredients with multiple functions, global collaboration for research and development, integration of biotechnology.
Growing adoption of pesticides is expected to propel the growth of the pesticide inert ingredients market going forward. Pesticides can be defined as a substance that is used for killing, preventing, reducing, or repelling various pests. Pesticide-inert ingredients are combined with various active ingredients to make pesticides which are used to extend the shelf life of pesticide products. For instance, in July 2022, according to a report published by the Food and Agriculture Organization, an Italy-Based organization of the United Nations, total pesticides used globally in 2021 were approximately 3.54 million metric tons, which is a 4% from 2.7 million metric tons in 2020. Therefore, the growing adoption of pesticides will drive the pesticide inert ingredients market.
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The pesticide inert ingredients market covered in this report is segmented –
1) By Type: Emulsifiers, Solvents, Carriers, Other Types
2) By Source: Synthetic, Bio-based
3) By Form: Dry, Liquid, Other Forms
4) By Pesticide Types: Insecticides, Herbicides, Fungicides, Rodenticides, Other Pesticide Types
Technological advancements are a key trend in the pesticide inert ingredient market. Major companies in the pesticide inert ingredients market are focused on developing innovative technologies to sustain their position in the market. For instance, in November 2021, Syngenta AG, a Switzerland-based agrichemical company, launched a new technology, PLINAZOLIN, which is an active pesticide ingredient with an innovative mode of action for effective insect control. PLINAZOLIN technology will offer insect control on stinkbugs, mites, thrips, caterpillars, flies, and beetles for more than 40 different crops, including cotton, soybean, corn, rice, coffee, and a variety of fruits and vegetables. The technology may also be applied as a seed treatment and in forestry and professional pest management programs. This new technology will set a new standard of performance and protect the crops from various pests.
The pesticide inert ingredients market report table of contents includes:
1. Executive Summary
2.Pesticide Inert Ingredients Market Characteristics
3.Pesticide Inert Ingredients Market Trends And Strategies
4.Pesticide Inert Ingredients Market analysis
5.Pesticide Inert Ingredients Market Size And Growth
6.Pesticide Inert Ingredients Segmentation
7.Pesticide Inert Ingredients Regional And Country Analysis
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27.Pesticide Inert Ingredients Competitive Landscape And Company Profiles
28. Pesticide Inert Ingredients Key Mergers And Acquisitions
29. Pesticide Inert Ingredients Future Outlook and Potential Analysis
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