Global Market For Pesticides To Reach Nearly $67.5 Billion In 2017
According to a new technical market research report, GLOBAL MARKETS FOR BIOPESTICIDES (CHM029D), from BCC Research (www.bccresearch.com), the global pesticide market was valued at $44.3 billion in 2011 and should reach $49.9 billion in 2012.
- (1888PressRelease) November 27, 2012 - Wellesley, Mass. - Total market value is expected to reach nearly $67.5 billion in 2017 after increasing at a five-year compound annual growth rate (CAGR) of 6.2%.
The market for pesticides can be broken down into two segments: synthetic pesticides and biopesticides. As a segment, synthetic pesticides should total $47.8 billion in 2012 and $63.7 in 2017, a CAGR of 5.9%. Biopesticides are expected to total $2.1 billion in 2012, and surpass $3.7 billion in 2017, a CAGR of 12%. The Environmental Protection Agency (EPA) defines a biopesticide as a pesticide derived from natural materials such as animals, plants, bacteria, and certain minerals.
Microorganisms such as a bacteria, virus, fungus, or microscopic nematode worms can be used in agricultural practices to control or eliminate pests that can inflict damage to a plant.
Agents used as biopesticides include parasites, predators (e.g., lady beetles, lacewings), fungi, bacteria, and viruses. Each agent has a specific mode of action used to control pests. They are increasingly being recommended and used as components of integrated pest management (IPM) programs in the production of high-value specialty crops such as fruit, nut, vegetable, vine, ornamental, and turf crops.
According to the IR-4 project at Rutgers University (U.S.), there are 230 actively promoted biopesticides in the United States. This compares with nearly 80 in the European market.
This report will help its readers:
• Forecast the market size for biopesticides in terms of dollars and unit sales
• Classify the market size for biopesticides by geographical regions in terms of dollar and unit sales
• Highlight the roles played by major stakeholders and players
• Provide an overview of the activities of influential companies
• Assess the biopesticide market in relation to crop production and sale of organic foods.
This report will be valuable to many industry participants, including the following:
• Biopesticide and synthetic pesticide specialists
• Biopesticide manufacturers
• University agricultural departments
• End users and distributors
• Financial institutions.
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