According to a market report by Lucintel, the future of the global pesticide market looks promising with opportunities in the insecticides, fungicides, and herbicides markets. The global pesticide market is expected to reach an estimated $83 billion by 2030 from $50 billion in 2023 at a CAGR of 7.5% from 2023 to 2030. The major drivers for this market are heightened need for increased agricultural production to ensure food security, innovations in pest management, including the development of more effective and targeted pesticides, and stricter regulations and safety standards concerning pesticide use and residue levels.
In this market, synthetic pesticide and bio pesticide are the major
segments of pesticide market by product type.
Lucintel forecasts that synthetic pesticide will remain larger segment
over the forecast period due to improved efficiency in the utilization of
pesticides.
Within this market, herbicides will remain the largest segment due to
increasing demand for weed management and food security.
APAC will remain the largest region over the forecast period due to increasing
crop yield and efficiency in developing economies such as china and india.
Syngenta, BASF, Bayer, Monsanto, and Dow Chemicals are the major
suppliers in the pesticide market.
Download sample by clicking on pesticide market.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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