Fungicides most used pesticide globally
Depending on the pest problems, sophistication of the growers and major crops grown, use of one group of synthetic pesticides—fungicides, herbicides or insecticides—is more dominantly used than the other two in individual countries.
Globally, the market is dominated by fungicides, accounting for over 40 percent of the total demand for pesticides in 2010, according to MarketResearch.com.
The research firm also recently announced that the global market for herbicides is expected to grow at a compound annual growth rate (CAGR) of 4.6 percent from 2011 to 2016 to reach 1,351.3 kilo tons by 2016. In terms of revenue, it is expected to reach $24,821.1 million by 2016, growing at a CAGR of 5.9 percent.
However, as noted, fungicides are not the most popular pesticide worldwide such as in regions similar to India where insecticides are the most popular pesticides, accounting for over 40 percent of the total Indian market, according to numbers calculated by MarketResearch.com.
The global market for insecticides is projected to reach 534.7 kilo tons by 2016, growing at a CAGR of 4.1 percent.
“Shrinking of arable land in recent years, growing population and increasing need to improve crop yields are expected to drive the demand for crop protection chemicals in the near future. However, the constant push from regulatory authorities such as EPA (Environment Protection Agency) to restrict the use of pesticides in order to reduce the impact on the environment and growing consumer awareness regarding pesticide consumption due to residues is expected to hamper the demand for crop protection chemicals in the next five years,” the researchers notes.
“One of the critical success factors (CSFs) in the market is the ability of a market player to preserve intellectual property through patents of its active ingredients and the ability to develop, register, and commercialize active ingredients coming off patents. This battle of generic against patented products is expected to be a key issue in the crop protection industry in the subsequent (after the next) five years,” the research company further contends.
An extensive breakdown analysis per crop, active ingredient volume, revenue, regions, countries, market drivers, price trends and much more are offered for a fee to companies interested in such data for driving their market planning by MarketResearch.com