The size of the global Organophosphate Pesticides Market Size was predicted to grow to USD 8.06 Billion in 2023 and is estimated to grow at a CAGR of 5.27% to reach USD 10.42 billion by 2028.
Organophosphate Pesticides are one of the most commonly used groups of pesticides. In terms of significance, Organophosphate insecticides hold approximately 30% of the market share in the global insecticides market by type. Organophosphate pesticides are used for various crop types, such as oilseeds, fruits & vegetables, grains & cereals. The organophosphate substances operate by hindering the enzyme acetylcholinesterase, which in turn causes nervous and respiratory damage, leading to the pest’s death. These pesticides are also comparatively low-priced and extensively applicable.
The growth of the global organophosphate pesticides market is majorly driven by factors such as a wide range of pest control applications of organophosphate pesticides, lower prices, and easy availability. Another major factor driving the market is the globally increasing population, which leads to the need for an increase in crop yield. However, safer alternatives, volatile economies, and various environmental and health hazards linked with the chemicals from these pesticides are the major restraining factors for the market.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 to 2028 |
Base Year |
2022 |
Forecast Period |
2023 to 2028 |
CAGR |
5.27% |
Segments Covered |
By Ingredients, Type, Crop Based, and Region |
Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Monsanto, DOW Agriscience LLC, Bayer CropScience, Syngenta AG, BASF, Dupont, American Vanguard Corp, FMC Corporation, Adama Agricultural Solutions Ltd, Nufarm. |
This research report on the global Organophosphate Pesticides Market is segmented and sub-segmented into the following categories:
Organophosphate Pesticides Market - By Ingredients:
Organophosphate Pesticides Market - By Type:
Organophosphate Pesticides Market - By Crop Based:
Organophosphate Pesticide Market - By Region:
The Asia Pacific has been leading the global Organophosphate Pesticides market and this trend is projected to stay in the near future. North America is the second major consumer of Organophosphate Pesticides, followed by Europe. Demand for Organophosphate Pesticides in North America and Europe is expected to grow at a slow rate, largely owing to resilient government control due to the dangerous effects of chemicals on humans and the environment. The growing demand for Organophosphate Pesticides in South America is anticipated to offer huge growth prospects for the market.
KEY MARKET PLAYERS:
Monsanto, DOW Agriscience LLC, Bayer CropScience, Syngenta AG, BASF, Dupont, American Vanguard Corp, FMC Corporation, Adama Agricultural Solutions Ltd and Nufarm are some of the notable players in the organophosphate pesticides market.
FAQ's
The global organophosphate pesticides market size was valued at USD 8.06 billion in 2023.
The Organophosphate Pesticides Market is estimated to grow a CAGR of 5.27% to reach USD 10.42 billion by 2028.
Monsanto, DOW Agriscience LLC, Bayer CropScience, Syngenta AG, BASF, Dupont, American Vanguard Corp, FMC Corporation, Adama Agricultural Solutions Ltd, Nufarm.
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