Pesticides Market

Pesticides Market Size

The global pesticides market size was valued at USD 78.90 billion in 2023 and is projected to grow from USD 82.62 billion in 2024 to USD 119.33 billion by 2031, exhibiting a CAGR of 5.39% during the forecast period. Global population growth is increasing food demand, while the scarcity of arable land makes it essential to maximize crop yield. This, in turn, drives the need for pesticides, fueling its market growth.

In the scope of work, the report includes products offered by ADAMA, Sumitomo Chemical Co., Ltd., Syngenta Crop Protection AG, Nufarm, BASF , Corteva, FMC Corporation, Best Agro Group, Dhanuka Agritech Ltd, Rallis India Limited, and others.

The global pesticides market belongs to a significant sector of the agricultural industry, consisting of herbicides, insecticides, fungicides, and fumigants. It is primarily driven by the increasing demand for efficient crop protection to ensure high yields and quality.

The market includes a diverse range of products, catering to both conventional and organic farming practices. Key players in the market are involved in the development of advanced pesticide formulations and technologies.

Regulatory frameworks, environmental concerns, and sustainability efforts influence the market's dynamics, leading to development of bio-based and eco-friendly alternatives. The market is competitive, with multinational corporations as well as local players operating in the market.

• The Food and Agriculture Organization of the United Nations (FAO) has established the International Code of Conduct on Pesticide Management, which provides a voluntary framework for pesticide management. This framework is intended for all public and private entities involved in the production, regulation, and management of pesticides, guiding them to ensure safe and sustainable practices in the market.

Pesticides are chemical substances that are used to prevent, control, or eliminate pests, diseases, and weeds that can harm crops. These chemicals are vital for enhancing crop production by protecting plants from damage. Pesticides can be either applied through spraying or soil treatment and are essential for both conventional and organic farming.

Their use boosts food security by enabling efficient crop production, especially as the global demand for food rises due to population growth and limited arable land.

Analyst’s Review

The market is witnessing a positive trajectory mainly due to advancements such as bio-based pesticides and precision agriculture technologies. Bio-based products, derived from natural sources, are gaining traction due to their eco-friendly appeal. They address both sustainability and consumer safety concerns.

Meanwhile, precision agriculture is optimizing pesticide application, reducing waste, and enhancing pesticide effectiveness. As the demand for safer, more efficient crop protection solutions increases, these innovations are expected to significantly shape the market, offering new growth opportunities in line with global sustainability goals.

• In April 2024, Bayer entered into an agreement with the UK-based AlphaBio Control to secure an exclusive license for a new biological insecticide. This innovative product, set for an initial launch in 2028, will be the first bio insecticide available for arable crops, including oilseed rape and cereals. The new insecticide is designed to target pests, such as the cabbage stem flea beetle (CSFB), which can cause significant damage to oilseed rape crops, including seedling death, throughout the growing season. This development reflects Bayer's commitment to expanding sustainable crop protection solutions.

Pesticides Market Growth Factors

The global market is experiencing growth driven by several key factors. Technological advancements and innovation in pesticide formulations and application methods are improving both the efficacy of pesticides and their environmental impact.

Additionally, the use of nanotechnology is paving the way for the development of new, ecologically acceptable pesticides. These innovations enhance crop protection while promoting sustainability.

Furthermore, the rise of invasive pests, climate change, and evolving pest resistance patterns are creating an urgent demand for new pesticide solutions. The need for effective, sustainable pesticide alternatives is accelerating, as pests become more resilient and environmental challenges intensify, thus driving further growth in the market.

• For instance, in September 2024, Vive Crop Protection reported a 30% year-over-year increase in sales, driven by its innovative nano-tech solutions. The launch of Phobos FC fungicide and Averland FC insecticide, utilizing cutting-edge nano-technology, exceeded expectations, significantly boosting market growth. These advanced and sustainable products have enhanced crop protection.

The pesticides market faces challenges such as pest resistance, requiring continuous research to develop new pesticides and effective resistance management strategies. Additionally, growing public concerns about pesticide residues in food and their environmental impact demand safer, eco-friendly solutions.

To address these issues, the industry is focusing on developing more sustainable, bio-based products and improving pesticide application methods, ensuring both effectiveness and safety to meet consumer demands and regulatory standards.

Pesticides Industry Trends

A significant trend in the pesticides market is the increasing adoption of technologies, particularly precision agriculture. This approach uses GPS, drones, GIS, guidance systems, and sensors to monitor crops and pest populations in real-time. By precisely identifying areas needing treatment, farmers can apply pesticides more effectively, reducing both pesticide use and environmental impact.

As technology continues to evolve, the integration of artificial intelligence (AI) and machine learning (ML) into these systems will enable even more precise decision-making, optimizing crop protection and improving overall farm productivity. This shift toward precision agriculture promises to revolutionize how pesticides are applied in the future.

• In January 2024, the World Economic Forum India's Centre for the Fourth Industrial Revolution, in partnership with India’s Union Ministry of Agriculture and the state of Telangana, launched the AI4AI initiative (AI for Agriculture Innovation). This initiative aimed to empower farmers by providing them with access to AI tools that could help them farm more efficiently and increase their earnings. As part of the initiative, workshops were held with farmers across India to understand their needs and explore how AI technologies could be integrated into their farming practices for enhanced productivity and sustainability.

A key trend in the pesticides market is the increasing reliance on pesticides to enhance agricultural productivity. With rising food demand, farmers are turning to pesticides to protect crops from pests, ensuring higher yields and better-quality produce. This trend reflects the need to optimize agricultural land usage and minimize crop losses.

Pesticides help reduce damage caused by pests, thereby boosting overall agricultural output. Continuous development of pesticides is essential for improving food security and supporting sustainable crop production to meet global demand.

Segmentation Analysis

The global market is segmented based on type, application, crop type, source, form, and geography.

By Type

Based on type, the market has been segmented into herbicides, insecticides, fungicides, fumigants, and others. The herbicides segment led the pesticides market in 2023, reaching the valuation of USD 34.72 billion.

Herbicides offer several benefits in modern agriculture, particularly in effective weed control. They can manage weeds in situations where other methods, like manual labor, are less effective, such as when weeds resemble crops or during unfavorable weather conditions. Economically, herbicides are often more cost-effective than alternative methods, providing higher benefits.

Herbicides also reduce the human effort required to manage weeds, making farming operations more efficient and less labor-intensive, contributing to improved productivity.

• In October 2024, FMC introduced Ambriva Herbicide, offering wheat farmers in India an innovative solution to combat Phalaris Minor. This new herbicide provides farmers with an effective tool to manage this challenging weed, helping improve crop yields and ensure better weed control in wheat cultivation.

By Application

Based on application, the market has been segmented into soil treatment, foliar spray, seed treatment, post-harvest treatment and others. The soil treatment segment secured the largest revenue share of 54.56% in 2023. Pesticides are commonly used in soil treatment to control pests that threaten agricultural production.

They can be applied directly to the soil, with the amount depending on the soil's depth, or used to treat seeds, seedlings, roots, or other planting materials before sowing. Additionally, pesticides can be introduced into irrigation water to protect crops from soil-borne pests.

These treatments help prevent pest damage, ensuring healthier crops, improving yield quality, and enhancing overall agricultural productivity, thus supporting sustainable farming practices.

• In May 2024, international events were held in Almaty, Kazakhstan, as part of a pesticide management and disposal initiative by the FAO and the Global Environment Facility (GEF) in Central Asia and Türkiye. The events emphasized the importance of effective governance and the role of green technologies in restoring contaminated soils for sustainable, healthier agricultural systems.

By Crop Type

Based on crop type, the market has been classified into cereals & grains, fruits & vegetables, oilseeds & pulses, and non-food crops. The cereals & grains segment is the largest segment with a CAGR of 5.20% through the forecast period.

Pesticides are widely used on cereals and grains to protect crops from pests, diseases, and weeds that can significantly reduce yield and quality. By applying pesticides, farmers can ensure healthier crops, increase production efficiency, and prevent losses caused by harmful organisms.

This leads to higher quality grains, greater food security, and better economic returns for farmers. Additionally, pesticides help control invasive species that can spread rapidly, ensuring that cereal and grain production remains stable and profitable for farmers.

Pesticides Market Regional Analysis

Based on region, the global market is classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

The pesticides market in North America accounted for 35.67% share of the global market in 2023, with a valuation of USD 28.14 billion. North America is the leading region in the market, due to advanced agricultural technology and continuous innovation in pesticide formulations.

Strict government regulations ensure that pesticides produced meet high-quality and safety standards, maintaining consistent performance. Additionally, the rising demand for food grains in the region drives the need for effective crop protection solutions.

These factors, combined with a strong focus on sustainability and efficiency, position North America as a dominant force in the global market, meeting both production and regulatory requirements.

The pesticides market in Asia Pacific is poised for significant growth over the forecast period expanding at a CAGR of 6.26%. Asia Pacific is the fastest-growing region for the market, due to the increasing demand for food driven by a rapidly expanding population and urbanization.

The region's shift toward modern farming practices, including the adoption of advanced crop protection technologies, further boosts market growth. Additionally, government initiatives to improve agricultural productivity and combat pests contribute to the rise in pesticide use.

The growing focus on crop yield improvement, along with expanding agricultural land, makes Asia Pacific a key driver in the global pesticide market.

Competitive Landscape

The global pesticides market report will provide valuable insights with an emphasis on the fragmented nature of the market. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions.

Strategic efforts, such as increased investments in research and development (R&D), the creation of new production facilities, and the optimization of supply chains, can generate new avenues for market expansion.

List of Key Companies in Pesticides Market

• ADAMA
• Sumitomo Chemical Co., Ltd.
• Syngenta Crop Protection AG
• Nufarm
• BASF
• Corteva
• FMC Corporation
• Best Agro Group
• Dhanuka Agritech Ltd
• Rallis India Limited

Key Industry Developments

• January 2023 (Partnership): Valent BioSciences LLC acquired FBSciences Holdings, Inc., a prominent player in the development of naturally derived plant, soil, and climate health solutions. This acquisition strengthens Valent BioSciences' position in the pesticides market by expanding its portfolio of biorational solutions. With the integration of biostimulants, biopesticides, and crop nutrition products, Valent, alongside its parent company Sumitomo Chemical Co., Ltd., now offers a comprehensive range of innovative, environmentally friendly crop protection and enhancement solutions to meet the growing demand for sustainable agricultural practices.
• July 2024 (Partnership): Agricultural biotech company Moa Technology entered into a research and commercial partnership with Nufarm, a global leader in agricultural innovation based in Melbourne, Australia. Moa's breakthrough platform led to the discovery of new herbicide classes, currently undergoing field trials in the US, UK, France, and Spain. Through this partnership, Nufarm gains exclusive access to one of Moa's promising new herbicide products, introducing a novel mode of action to the market and expanding Nufarm's crop protection portfolio.
• July 2024 (Launch): Best Agrolife Ltd, a leading specialty agrochemical manufacturer, received regulatory approval for its new patented insecticide formulation, Nemagen, designed to tackle resistant pests. Nemagen offers an effective solution for farmers facing challenges with these harmful pests. This broad-spectrum insecticide combines a unique blend of Chlorantraniliprole, Novaluron, and Emamectin Benzoate, making it highly potent against a wide range of pests. With its advanced formulation, Nemagen is poised to provide farmers with a powerful tool to protect their crops and improve overall pest management.

The global pesticides market is segmented as:

By Type

• Herbicides
  • Glyphosate
  • Atrazine
  • Dicamba
  • Metolachlor
  • Glufosinate
  • Others
• Insecticides
  • Organophosphates
  • Pyrethroids
  • Neonicotinoids
  • Carbamates
  • Insect Growth Regulators (IGRs)
  • Others
• Fungicides
  • Azoxystrobin
  • Chlorothalonil
  • Mancozeb
  • Tebuconazole
  • Propiconazole
  • Copper-based Fungicides
  • Others
• Fumigants
  • Methyl Bromide
  • Phosphine
  • Sulfuryl Fluoride
  • Carbon Disulfide
  • Ethylene Dibromide
  • Others
• Others

By Application

• Soil Treatment
• Foliar Spray
• Seed Treatment
• Post-harvest Treatment
• Others

By Crop Type

• Cereals & Grains
• Fruits & Vegetables
• Oilseeds & Pulses
• Non-food Crops

By Source

• Chemical/Synthetic Pesticides
• Bio Pesticides

By Form

• Powder/Pallets/Granules
• Liquid

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America