Global Speciality Pesticides Market Size, Drivers, Trends, Opportunities And Strategies – Includes Speciality Pesticides Market Report
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Rising food demand is expected to drive innovation in the manufacturing of specialty pesticides, driving the market during the forecast period.
The global speciality pesticides market is expected to grow from $123.24 billion in 2022 to $133.31 billion in 2023 at a compound annual growth rate (CAGR) of 8.17%. The specialty pesticides market is expected to reach $171.22 billion in 2027 at a CAGR of 6.46%.
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Global Speciality Pesticides Market Segments Include:
- By Type: Fungicide, Insecticide, Herbicides, Other Types
- By Origin: Synthetic, Bio-Based
- By Mode Of Application: Foliar Spray, Soil Treatment, Seed Treatment, Other Mode Of Applications
- By Application: Grains, Cereals, Oilseeds, Pulses, Fruits And Vegetables, Other Applications
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global speciality pesticides market in 2021.
Major Market Players in the speciality pesticides market include Syngenta(ChemChina), Bayer Crop Science LLC, BASF, Dow AgroScinces, Sumitomo Chemicals Co Ltd., Corteva Agri Science, Monsanto, FMC Corporation.
Innovative technology development has emerged as a key trend gaining traction in the specialty pesticides market. Improved agricultural chemicals, such as fertilisers and pesticides, genetically modified seed varieties, and automated machinery, are being developed for the market. To strengthen their market position, major market players focus on developing new products. For example, in May 2019, BASF, a German multinational chemical company, launched Seltima, an innovative fungicide that enables Thai rice farmers to produce higher-quality rice more efficiently. Seltima’s proprietary encapsulation technology ensures the controlled release of its active ingredient directly on the plant leaf surface. Farmers will benefit from effective and long-term control of rice blast disease, as well as improved plant health, while the aquatic environment will be safeguarded.
The Speciality Pesticides Global Market Report 2023 provides a speciality pesticides market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The speciality pesticides market forecast analyzes speciality pesticides market size, speciality pesticides market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Specialty pesticides are agents or substances that are used to eliminate, repel, or control pests such as plant or animal life. Fruits and vegetables, tree nuts, dried fruits, horticulture, and nursery crops are all common uses for specialty pesticides. Specialty crops are intensively cultivated plants.
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