Pesticides are chemicals used in industrial agriculture. The pesticides are improves soil fertility, making crops more productive, also protects crops by controlling weeds (herbicides), insect and animal infestation (insecticides and rodenticides), and fungal/mold diseases (fungicides and rodenticides) (fungicides).
Market Dynamics
Specialty pesticides have high specificity, which means that certain specialty pesticides may only be effective on certain pests such as herbicides to kill weeds, fungicides to control mildew and fungi, and rodenticides for killing rodents. This, in turn, may require use of multiple products, which may not be commercially viable.
Agricultural product such as herbicides and pesticides are rapidly increasing in demand around the world. Therefore, demand for food is also rapidly rising, particularly in East Asia and the South Asia Pacific. Thus, population growth is the primary factor driving demand for agricultural products.
With growing environmental awareness, there has been a significant shift in the consumer base towards organic foods in the recent past. Organic foods are grown without the use of synthetic chemicals, such as pesticides, which is expected to reduce pesticide sales in the future. As specialty pesticides are synthetic chemicals, their residues are harmful to the environment and living organisms. Concerns about this factor are expected to be a major restraint to the market's overall growth. Pesticides are also dangerous to people's health and safety. People in every part of our food system — producers, workers, and consumers — can be exposed to potentially harmful levels of pesticides as a result of their widespread use.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
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