New York, February 03, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Pesticide And Other Agricultural Chemicals Global Market Report 2021: COVID 19 Impact and Recovery to 2030” – https: //www.reportlinker .com / p06018804 /? utm_source = GNW
$ 27 billion in 2020 to $ 84.82 billion in 2021 at a compound annual growth rate (CAGR) of 5.7%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 109.75 billion in 2025 at a CAGR of 7%.
The pesticides and other agricultural chemicals market includes the sales of pesticides and other agricultural chemicals by entities (organizations, independent traders or partnerships) that formulate and prepare agricultural and household pest control chemicals (except fertilizers). The pesticides and other agricultural chemicals market is segmented into herbicides; insecticides; fungicides and other pesticides and other agricultural chemicals.
Asia-Pacific was the largest region of the world market for pesticides and other agricultural chemicals, accounting for 27% of the market in 2020. South America was the second largest region accounting for 24% of the world market for pesticides and other agricultural chemicals. The Middle East was the smallest region in the world market for pesticides and other agricultural chemicals.
Toxicologists around the world are embracing nanotechnology in the development of new environmentally friendly insecticides. Nanoparticles have revolutionized the pharmaceutical and chemical industries. Nanoformulations of pesticides are ultrafine particles with improved permeability, stability and solubility. Most engineers believe that nanotechnology can help make insecticides much safer. Nano-sized insecticides can be sprayed in smaller amounts on agricultural fields compared to conventional forms. For example, Lansiumamide B (antibacterial) is formulated as a nanocapsule to combat bacterial wilt in tobacco. Thiametoxam (insecticide) is sprayed as a nanometric fiber and deltamethrin (insecticide) is formulated as a lipid nanoparticle.
The growing demand for organic food products is expected to negatively impact the pesticide market during the forecast period. Organic food products come from an agricultural system that avoids the use of pesticides and other artificial additives. For example, according to the Soil Association, sales of organic products in the UK increased 4.5% in 2019 to reach Â£ 2.45 billion. Likewise, in 2018, organic food sales in the United States increased 5.9% to $ 47.9 billion, according to the 2019 Organic Industry Survey. This increase in demand for organic products is likely to constrain the market for pesticides and other agricultural chemicals during the forecast period.
The world population is growing and is expected to reach 10 billion by 2050; this is expected to significantly boost the market for pesticides and other agricultural chemicals during the forecast period. The increase in population creates more demand for food. Agricultural production, agricultural activities and trade volumes will need to increase to meet the growing population. In addition, farmers and commercial agricultural enterprises will increase acquisitions of arable land to increase crop production, which is expected to increase the demand for insecticides, herbicides and fungicides during the forecast period.
Read the full report: https://www.reportlinker.com/p06018804/?utm_source=GNW
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