Research Nester released a report titled “Organophosphate Pesticides Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global organophosphate pesticides market in terms of market segmentation by type, ingredient, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global organophosphate pesticides market is anticipated to witness growth at a considerable CAGR throughout the forecast period, i.e., 2021-2029, owing to the broad spectrum of pest control, low cost, and easy availability of these pesticides. Furthermore, the global population is increasing, giving rise to increased demand for food crops. Organophosphate pesticides protect the crops from a wide range of insects, prolong the life of the crop and increase short-term productivity. Such factors are expected to boost the market growth.
The global organophosphate pesticides market is segmented based on ingredients, into malathion, glyphosate, methamidophos, chlorpyrifos, dimethoate, parathion, and others. Out of these, the malathion segment is estimated to hold the largest market share by the end of 2021, as it is used as repellant for various insects, including, mosquitoes, ticks, and ant. On the basis of application, the market is segregated into oil seeds, grains & cereals, turf & ornamental grass, and others, out of which, the grains & cereals segment is foreseen to garner a substantial revenue over the forecast period owing to the rising need for increased yield from food crops backed by the growing population.
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Regionally, the global organophosphate pesticides market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America is anticipated to hold the largest market share over the forecast period, on the back of growing export-oriented agriculture activities, in the region. USA is a major consumer of pesticides, backed by the growing agriculture sector. Over 400 thousand tons of pesticides were used in 2018 in the United States. Moreover, USA is the largest exporter of various food products globally. In 2016-17, the total food export of the United States valued over USD 72 million thousand. In addition to that, organophosphate pesticides significantly enhance the store life of grains post-harvest, which is also estimated to raise its demand in the region.
The market in the Asia Pacific region is anticipated to grow at a considerable CAGR during the forecast period, owing to the increasing agriculture activities in the region backed by the growing population. According to the data by the World Bank, agriculture and fishery sector held a major share of 16.291 % of the total GDP of South Asia region, in 2019. Farmers rely on pesticides and other chemicals to increase the crop yield, which is estimated to further boost the market growth, especially in countries, such as, China and India. More than 1.4 million tons of pesticides were used in China in 2018, making it one of the biggest consumers of pesticides, globally.
Rising Need for Crop Protection from a Wide Range of Pests
Pest control is a vital part of the agricultural process, as the crops need to be protected from various threats, including insects, rodents, fungus, and weeds, among others. Organophosphate pesticides are broad spectrum pesticides, providing protection from all such threats, which is the major driving factor for the market growth.
However, rising concerns regarding environmental conservation, as pesticides seep in the water bodies causing water pollution, are anticipated to act as restraints in the growth of the global organophosphate pesticides market. Nevertheless, constant research and experiments made in the direction to combine organophosphates with other chemicals, that may improve its efficiency and reduce the toxicity, is likely to propel the growth of the market by the end of 2029.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the global organophosphate pesticides market which includes company profiling of Adama Agricultural Solutions Ltd., Spectrum Brands, Inc., Bayer AG (ETR: BAYN), Nufarm Limited (ASX: NUF), FMC Corporation (NYSE: FMC), AMVAC Chemical Corporation (NYSE: AVD), BASF SE (ETR: BAS), BONIDE Products LLC, Rallis India Limited (NSE: RALLIS), and UPL Limited (NSE: UPL). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global organophosphate pesticides market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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