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Pesticides are chemicals that are used to control, destroy, and prevent the growth of pests and unwanted species of plants and animals. Herbicides, insecticides, and fungicides are collectively known as pesticides. Pesticides act as growth regulators in plants, defoliant for trees and plants, desiccant for fleas, prevents thinning of fruit. Moreover, they prevent the premature falling of fruit. Pesticides are applied to crops before or after harvest to protect the commodity from deterioration during storage and transport. Application of pesticides provides better farm yield and storage and distribution of obtained output. They are also used on animals for controlling insects, arachnids, or other pest infestations.

The pesticide market is driven by the demand for bio-pesticides and adoption of herbicide-resistant crop by farmers. The global synthetic pesticides market has been witnessing extraordinary changes during the last decade due to the improved efficiency in utilization of pesticides. Factors that drive the usage of synthetic pesticides are increasing demand for food, decrease in cultivable land increasing adoption of genetically modified (GM) crops, rising market share of bio pesticides, and the acceptance of new farming practices. Major restraints for the utilization of synthetic pesticides include high R&D costs and extensive research required to generate new pesticides. Development of safe alternatives such as bio-farming is restraining the chemical pesticide market.

Based on application, the pesticide market is segmented into crop-based and non-crop-based. The crop-based segment is further sub-segmented into grains & cereals, oilseeds, and fruits and vegetables. The non-crop based segment is further sub-segmented into lawn & ornamental grass. Pesticides are also employed to control organisms such as bees, wasps, ants. They protect animals from illnesses that are caused by parasites such as fleas. They are used to prevent sickness in humans that could be caused by moldy food or diseased produce as pesticides restricts the fungal growth. Pesticides can also be utilized to clear roadside weeds, trees and bushes. They are also used to kill invasive weeds that damage the environment. Pesticides protect homes from pest infestations such as termites and mold. They are employed in grocery stores and food storage facilities to manage rodents and insects that infest food such as grain.

In terms of type, the pesticides market can be segmented into insecticides, herbicides, rodenticides, bactericides, fungicides, and larvicides. Insecticides kill insects by getting inside their bodies where they then act as poison. Herbicides are used to kill the plants near the leaves, stems or roots of the plants. Rodenticides are used to in food to make poisonous baits which rodents eat. Bactericides are used to kill bacteria. Bactericides are categorized into disinfectants, antiseptics, or antibiotics. Fungicide is a pesticide that controls fungal disease by preventing or killing the fungus. Larvicide is an insecticide that targets the larval life stage of an insect.

In terms of geography, the pesticide market is further segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The pesticides market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, followed by Latin America. China, India, and Brazil are the key growth markets for all types of pesticides. Asia Pacific is a prominent producer of rice, wheat, and vegetables. Hence, the requirement for pesticides is the high in the region, and crop-based pesticides are expected to drive the pesticide market in the region. The market in Europe is estimated to expand in the near future, as farmers are focusing on agriculture, ultimately boosting the usage of pesticides for crops.

Key players operating in the pesticides market are Syngenta AG, Bayer AG, The Dow Chemical Company, BASF SE, and Monsanto Company.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Global Pesticides Market

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