Pesticides are
chemicals used to eliminate or control a variety of pests related to
agriculture that can damage crops and livestock and reduce farm productivity.
Agricultural chemicals are chemical agents such as pesticides,
fungicides, herbicides
and insecticides that are used to control crop-harming organisms (e.g., fungi,
nematodes, mites, insects and rodents) or viruses.
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The reasons for
substantial growth of the pesticides, fertilizers and agricultural chemicals
market size from $161 billion in 2017 to $225 billion by 2021 are the economic
growth and increased demand for food products.
The pesticides
and other agricultural chemicals industry in The Business Research Company’s
report is segmented into four segments namely, fungicides, herbicides,
insecticides and others. Herbicides
segment accounts for nearly half of the market share, while the remaining share
is attributed to the other three segments.
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Asia Pacific was
the largest region in the pesticides and other agricultural chemicals market in
2017, accounting for around 41% of the total market. China was the largest
country in the market in 2017, accounting for nearly one-fifth of the market
share. China was followed by the USA and Brazil as the next largest countries
in the market.
Bayer AG was the
largest competitor in the pesticides and other agricultural chemicals market,
followed by Syngenta AG and BASF SE. Bayer AG is engaged in the development,
manufacture and distribution of products in the areas of health care, nutrition
and high-tech materials. It operates through the Health Care, Crop Science and
Material Science subgroups, which are supported by three service companies.
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