U.S. pesticide market forecast to grow 5.3% through 2020
Research and Markets has announced the addition of the "United States Pesticides Market - Growth, Trends And Forecasts (2014 - 2019)" report to its offering.
Volume consumption of pesticides in the United States is forecast to register a CAGR of 5.3% between 2014 and 2020, while value demand is likely to post a compound annual growth rate (CAGR) of 6.3% over the same period.
Crop-based applications form the largest end-user of pesticides in the United States, as also the faster growing. Overall demand and consumption of pesticides in the US has recorded declines from the past due to various factors, such as causing harm to human, animal and environmental health.
Pesticides must be registered by the US Environmental Protection Agency (EPA) before they can be sold. EPA can register only pesticides that will have no unreasonable adverse effects on the environment or human health.
If, after a pesticide is registered, EPA determines that it no longer meets this standard, EPA has the authority to cancel the registration (but rarely does), thereby removing the pesticide from the market.
A company seeking to register a pesticide (the registrant) must produce dozens of scientific studies for EPA to assess various aspects of the chemical, including toxicity, ecological effects, and environmental fate. EPA then determines whether the pesticide meets the safety standard.
Unfortunately, despite all these data, harm still occurs. The required toxicity studies do not include many important endpoints such as immune system toxicity, endocrine system disruptions, learning deficits, or chronic illnesses.
Yet, all of these endpoints have been linked to pesticide exposure. Harm also occurs because pesticides are reviewed only every fifteen years, leaving long lag times between science and regulations.
This new report provides key insights into the United States' market for pesticides, factoring the various growth drivers and dampeners that shape demand and consumption in the region. This report is a valuable tool for companies interested in taking critical decisions regarding appropriate investments.