Source: The Freedonia Group, Inc.
World demand for pesticides is projected to increase 2.9 percent per year to $52 billion in 2014. These gains will reflect a reversal of the substantial declines registered in 2009, caused in part by a precipitous price drop for glyphosate, the leading herbicide product. Only a year earlier, high glyphosate prices helped to boost overall market value. These high prices lured in new producers, especially in China, which created overcapacity that contributed to the 2009 price decline. Agriculture continues to dominate the pesticide market to the point where overall pesticide market growth tends to mirror that of the agricultural market. The smaller commercial and consumer pesticide markets are expected to register faster growth than more established agricultural uses, although combined they will account for only about 20 percent of the global market. These and other trends are presented in World Pesticides, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
Herbicides and insecticides will remain the largest product types. One or the other of these products is largest in essentially every national market, due to their extensive use on the major field crops that account for most pesticide consumption.
Original news release