Pesticides are substances that are meant for destroying, attracting, or mitigating any pest. They are effective forms of chemicals that control and eliminate the growth of the insects, fungi, herbs, and other organisms that are harmful for crop cultivation, resulting in reduced crop yield per hectare.
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According to The Environmental Protection Agency (EPA), pesticide is an element derived from natural materials such as plants, animals, bacteria, and certain other minerals. The term pesticide is often treated as a synonymous to plant protection products, although in a broader perspective it is used for non-agricultural purposes also. There are many microorganisms such as virus, bacteria, fungus, or microscopic nematode worms that are used in various agricultural practices in order to control or completely destroy the pests that inflict the growth of the plants.
Global Need for Pesticides Market
For years, there has been a global debate over the use of pesticides in agriculture, environment, and biodiversity, as to whether it has both positive and negative impact on humans or plants.
However, with the increased environmental awareness and the risk of health hazards and pollution from several conventional pesticides, the demand for nature-based pesticides market has been steadily rising in different parts of the world. For instance, some of the nature-based agents used as pesticides include predators (e.g. lacewings, lady beetles), bacteria, fungi, and viruses.
Due to such circumstances, there is an extreme need for comprehensive study on pesticides market that covers aspects of demand trends, technology involved, investment levels, and other project opportunities.
These are contributing factors that have also given birth to a number of research centers across the globe encouraging bio-medical engineers and skilled labors to undertake research aimed at improving and enhancing bio-pesticides and related products in the global market.
Based on the kind of pest control, the pesticides market is sectioned into various categories namely; herbicides, insecticides, fungicides and other pesticides that include nematicides, fumigants and other miscellaneous conventional pesticides. This list of categorization also includes other chemicals used as pesticides such as oil, sulfur, and sulfuric acid.
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Pesticides Market – Global Analysis & Nature of the Field
According to a study conducted by industry best research analysts, the collective revenue of Japan, India, and China’s pesticides market reached USD11.7 billion in 2011 and is expected to reach USD 16.2 billion by 2016, growing at a CAGR of 6.8% from 2011 to 2016. Japan is expected to be the second largest pesticide market after China by 2016.
The pesticides market is dynamic in nature consisting of a number of pesticides products available for use in crop protection. Due to the rapidly expanding global population, the demand for crop protection products is mainly driven by the need for greater yields to satisfy the increasing needs on food resources. The ever growing population is the primary growth driver for this market. This has caused a growing demand for bio-pesticides in the market, which have resulted in the emergence of new market players, thus increasing competition on a global platform. As a result, manufacturers in the pesticides market have developed an increasing awareness towards developing and producing safe, low-toxic, and high-effective bio-pesticides for pest control activities.
Pesticides Market – Geographic Areas
Considering the geographic areas active in the pesticides market, some of the major consumers of pesticides and related chemicals are seen in the developed countries including Japan, Western Europe, and North America. However, some other developing countries such as China, India, and Singapore are the next upcoming countries that will implement the use of pesticides on a wide scale.
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