Global Pesticides and Agricultural Chemicals Market Thrives, Projected to Surpass $139 Billion by 2027

The Business Research Company's Pesticides and Agricultural Chemicals Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, November 24, 2023 /EINPresswire.com/ -- The market witnessed impressive growth, surging from $90.5 billion in 2022 to $98.42 billion in 2023, achieving a remarkable Compound Annual Growth Rate (CAGR) of 8.8%. The momentum is expected to continue, propelling the market to reach $139.42 billion by 2027, with a projected CAGR of 9.1%.

Driving Forces: Meeting the Demands of a Growing Population
With the global population projected to reach 10 billion by 2050, the demand for food is set to escalate significantly. This surge in population creates an imperative need for increased crop production, farming activities, and trade volumes. In response, farmers and commercial farming entities are expected to acquire more arable land, consequently amplifying the demand for insecticides, herbicides, and fungicides during the forecast period.

Major Players Leading the Charge
Key companies in the pesticide and other agricultural chemicals market, such as Syngenta AG, Bayer AG, Marubeni, Corteva Inc., Nutrien Ltd., FMC Corp, BASF SE, Adama Agricultural Solutions, Nufarm Limited, and Reckitt Benckiser Group plc, are at the forefront of driving innovation and meeting the rising demand for agricultural solutions.

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The global pesticide and other agricultural chemicals market exhibits a robust segmentation:

1. By Type: Herbicides, Insecticides, Fungicides, Other Pesticides, and Other Agricultural Chemicals
2. By Origin: Synthetic, Bio-Based
3. By Application: Grains and Cereals, Pulses and Oilseeds, Commercial Crops, Fruits and Vegetables, Other Applications

Innovative Approaches: Nanotechnology in Agriculture
Toxicologists globally are embracing nanotechnology to develop environmentally friendly insecticides. Nanoparticles are transforming the landscape of the pharmaceutical and chemical industries, making insecticides safer and more efficient. Nano-sized insecticides, such as Lansiumamide B and Thiamethoxam, are being employed to enhance permeability, stability, and solubility. This shift towards nanotechnology is seen as a promising avenue to address environmental concerns while maintaining the effectiveness of agricultural chemicals.

Regional Insights: Asia-Pacific Leads the Way
In 2022, Asia-Pacific emerged as the largest region in the pesticide and other agricultural chemicals market, with Western Europe securing the second position. The report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Pesticide And Other Agricultural Chemicals Global Market Report 2023 from TBRC covers the following information:

• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Pesticide And Other Agricultural Chemicals Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on pesticide and other agricultural chemicals market size, pesticide and other agricultural chemicals market drivers and pesticide and other agricultural chemicals market trends, pesticide and other agricultural chemicals market major players, pesticide and other agricultural chemicals market competitors' revenues, pesticide and other agricultural chemicals market market positioning, and pesticide and other agricultural chemicals market market growth across geographies. The pesticide and other agricultural chemicals market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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Agriculture Market Growth Forecast 2023-2027

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