Stringent government regulations create growth
opportunities for eco-friendly pesticides, finds
Frost & Sullivan
LONDON, June 12, 2019 /PRNewswire/ -- Farmers have
begun to adopt the recommended practices issued by regional
regulatory bodies regarding the use of crop protection
chemicals (pesticides) to meet the growing demand for
food safety in developed and developing nations. The use of
alternative crop protection measures and implementation of
best practices have become a priority, and, in turn, have enhanced
efficiency in agricultural income. The €55.38 billion market is
expected to grow to €76.21 billion by 2023 with the
synthetic and biopesticides product segments
accounting for 90.2% and 9.8% of the revenue, respectively, in
2018. However, with greater adoption of residue-free
pesticides, the biopesticides segment is likely to generate
17.7% of the revenue by 2023.
"With the decrease in the area of arable land across the globe,
there will be a focus on technologies that can increase the
efficacy of synthetic pesticides," said Arun Ramesh, Research Manager, Visionary
Science. "Advances in DNA technology to augment yield,
nano-coatings, and eco-friendly technologies that
facilitate active ingredients to act directly on target
cells in the biopesticides segment will especially find market
traction."
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"APAC dominated the global crop protection market with a 41.8%
revenue share in 2018, followed by Europe with 22.1%, RoW with 20.9%, and
North America with 15.1%," noted
Ramesh. "Based on growing demand and increasing population, the
market in APAC is forecast to grow at 6.4% for synthetic pesticides
and 23.4% for biopesticides by 2023."
As biopesticides are assessed under the same regulations as
synthetic substances in the EU, there is a need for new provisions
and guidelines to facilitate their registration. The market is also
challenged by concerns of short shelf life, high cost, and easy
degradation. Successful vendors will look to address these
issues and tap further growth opportunities by:
- Developing innovative biopesticides that use living
microorganisms and plant extracts with complex modes of
action and multiple classes. They help improve durability.
- Offering efficient, innovative, and eco-friendly solutions, as
the crop protection market is governed by rigid regulations.
- Delivering integrated products and services, including
crop nutrition management and optimization.
- Creating novel biopesticides that address customer needs such
as long shelf life and new modes of action.
- Improving marketing channels and distribution networks in
emerging nations for better visibility.
- Adopting a public-private sector approach to
manufacturing and selling eco-friendly biopesticides as
alternatives to synthetic pesticides.
Frost & Sullivan's recent analysis, Global Crop
Protection Market, Forecast to 2023, analyzes the market
segments of herbicides, insecticides,
fungicides, bioherbicides, bioinsecticides,
and biofungicides. It focuses on key growth factors, market
trends, technologies, product innovations, and the competitive
landscape. The study covers the regions of North America, Europe, Asia-Pacific (APAC), and the
Rest of the World (RoW) (LATAM, the
Middle East, and
Africa).
Global Crop Protection Market, Forecast to 2023 is part
of Frost & Sullivan's global Future of Agriculture &
Nutrition research and analysis available through the Frost &
Sullivan Leadership Council, which helps organizations identify a
continuous flow of growth opportunities to succeed in an
unpredictable future.
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Global Crop Protection Market, Forecast to
2023
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