The speciality pesticides global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Speciality Pesticides Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The speciality pesticides market size has grown strongly in recent years. It will grow from $132.26 billion in 2023 to $142.96 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increased need for crop protection, expansion of precision farming practices, rise in global population, emergence of resistant pest strains, demand for sustainable agriculture, growing awareness of food safety, expansion of protected cultivation.
The speciality pesticides market size is expected to see strong growth in the next few years. It will grow to $191.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to globalization of agriculture, market demand for high-value crops, advancements in biopesticides, rapid expansion of organic farming, global food security concerns, focus on reduced environmental impact, regulatory support for sustainable practices. Major trends in the forecast period include integrated pest management (ipm), innovation in formulations, advancements in seed treatment, biotechnological solutions in pest control, digital agriculture and smart pesticides, investment in research and development, crop-specific solutions.
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Scope Of Speciality Pesticides Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Speciality Pesticides Market Overview
Market Drivers –
The rising demand for food is expected to propel the growth of the speciality pesticides market. Food crops are agricultural plants grown for human consumption, such as fruits, vegetables, grains, and others. Food consumption is increasing due to population increase and rising affluence in developing nations. Speciality pesticides are used to increase food productivity by enhancing yield and lowering losses brought on by insects, illnesses, and weeds. For instance, according to data from the Food and Agricultural Organization, a Canada-based body of the United Nations, global food production will need to increase by 70% to meet the growing global population growth that is forecasted to reach 9.6 billion by 2050. Therefore, the rising demand for food will drive the speciality pesticides market.
Market Trends –
Major companies operating in the specialty pesticides market are developing new pesticides with specialized formulation to gain a competitive edge in the market. For instance, in April 2022, BASF SE, a Germany-based chemicals company launched Exponus, an insecticide designed to empower Indian farmers in safeguarding their crops and enhancing productivity. Fueled by BASF’s innovative active ingredient, Broflanilide, Exponus stands out with its novel mode of action, classified under the new IRAC group 30, representing meta-diamides and isoxazolines. This classification ensures no known cross-resistance with existing products, making Exponus a superior tool in insecticide resistance management. The insecticide delivers powerful, quick, and versatile control against resilient pests like caterpillars and thrips, addressing the challenge of resistance to prevailing chemistries.
The speciality pesticides market covered in this report is segmented –
1) By Type: Fungicide, Insecticide, Herbicides, Other Types
2) By Origin: Synthetic, Bio-Based
3) By Application: Grains, Cereals, Oilseeds, Pulses, Fruits And Vegetables, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the speciality pesticides market in 2023. The regions covered in the speciality pesticides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the speciality pesticides market report are Syngenta Crop Protection AG (ChemChina), Bayer Crop Science LLC, BASF SE, Dow AgroSciences LLC, Sumitomo Chemicals Co. Ltd., Corteva Agriscience Division of DowDuPont, Monsanto Company (Bayer), FMC Corporation, UPL Limited, Nufarm Limited, ADAMA Agricultural Solutions Ltd., Arysta Lifescience Inc., Isagro SPA, Limin Group Co. Ltd., Hailir Pesticides and Chemicals Group Co. Ltd., Shandong Luba Chemical Co. Ltd., Jiangsu Changqing Agrochemical Co. Ltd., Guangdong Zhongxun Agricultural Science Co. Ltd., Zhejiang Heben Pesticide & Chemicals Co. Ltd., Nippon Soda Co. Ltd., Nissan Chemical Corporation, Mitsui Chemicals Agro Inc., Cheminova A/S, DuPont de Nemours Inc., Makhteshim Agan Industries Ltd., Sinochem International Corporation, Jiangsu Huifeng Agrochemical Co. Ltd., Jiangsu Yangnong Chemical Group Co. Ltd., Rotam CropSciences Ltd., Gowan Company LLC, Albaugh LLC
1. Executive Summary
2. Speciality Pesticides Market Report Structure
3. Speciality Pesticides Market Trends And Strategies
4. Speciality Pesticides Market – Macro Economic Scenario
5. Speciality Pesticides Market Size And Growth
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27. Speciality Pesticides Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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