Use of pesticides on food crops always remained a topic of debate in global market as it has both positive and negative impact on humans. Pesticides are used for protecting the food crops and oil crops from agricultural pests, insects, and bacterial and fungal growth on crops. Market for pesticides witnessed tremendous growth in recent years with the need for increasing efficiency of crops, and protecting the crops from harmful insects. However, increasing consumption of such food crops is resulting in the health related problems which is the major challenge for growth of this market. Despite of this hurdle, pesticides market is witnessing significant growth in developing countries due to lack of awareness about the ill-effects of use of pesticides and lack of environmental concerns.
Pesticides are the chemicals that eliminate and control the growth of herbs, fungi, insects, and other organisms that can harm the food crops and affect the crop yield per hectare. This market is basically segmented as
Pesticides are the chemicals that eliminate and control the growth of herbs, fungi, insects, and other organisms that can harm the food crops and affect the crop yield per hectare. This market is basically segmented as
Herbicides
Insecticides
Fungicides
Nematicides
Market for pesticides is highly dynamic with number of pesticides products available in market for increasing the crop yield and protection purpose.
The global demand for pesticides is forecasted to grow by 2.91% per year and reach the value of $53 billion by the year 2014. China pesticides market is the biggest market for pesticides as a result of highest population and increasing demand for food. The continuous need of increasing the per hectare efficiency of food crops is resulting in the increasing use of crop pesticides, thus driving the market growth. India pesticides market stands second with the maximum area under agriculture in this country. Glyphosate is the leading herbicide product holding the maximum share of pesticides industry. Agriculture continues to dominate the pesticides industry in Japan. The Japan pesticides market is witnessing significant rise due to the emergence of number of small market players and development of variety of pesticide products.
Worldwide small commercial and consumer pesticides market is expected to witness fastest growth compared to the established market because of the extensive use of these products on field crops accounting for almost pesticide consumption. Fungicides and other pesticides are also expected to register strong growth in near future due to reduction in use of sulfur and other commodities in favor of formulated synthetic fungicides. Reduction in the use of herbicides and insecticides has not affected the volume usage of fungicides.
Among the larger regional markets, Central and South America are projected to register significant growth opportunities for pesticides. Brazil is the strong consumers of pesticides industry and other countries in regions have actively contributed to the growth of this industry by increasing the use of better performing pesticide active ingredients. Middle East is also expected to register satisfactory growth; however, it will remain the smallest regional market for this industry as agricultural activities in this region are undertaken without value added crop inputs and pesticide formulations.
Article Source: Gunakesh Parmar
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