The Asia-Pacific agricultural pesticide market was valued at USD 23.37 billion in 2023 and is anticipated to reach USD 24.66 Bn in 2024 from USD 37.71 Bn by 2032, growing at a CAGR of 5.45% from 2024 to 2032.
Pesticides are chemicals intended for controlling, preventing, and destroying any pest, including vectors of human or animal disease, unwanted species of plants or animals, causing harm during or interfering with the processing, storage, production, and transport of food, agricultural commodities, wood products, or animal feedstuffs. The most common pesticide is herbicide, which accounts for 80% of all pesticide use. These are intended to serve as crop protection products against weeds, fungi, insects or bacteria.
A pesticide is a chemical or biological agent such as a bacterium, virus, antimicrobial, or disinfectant that deters, incapacitates, kills, or otherwise discourages pests. Target pests can include plant pathogens, microbes, weeds, insects, mollusks, birds, mammals, fish, and roundworms that destroy farms, which causes nuisance or spread diseases. Despite its advantages, it has some drawbacks, such as toxicity to humans and other species.
Growing population and declining arable land to feed the resultant population, increasing pest concerns, innovation in spraying equipment, rising demand for industrial feedstock crops and the use of more sophisticated farming techniques, resistant pest populations and environmental concerns, growing production of rapeseed, cereal crops, oilseeds and sugarcane along with improved farming techniques are driving the growth of the Asia-Pacific Agricultural Pesticide Market. However, the development of safe alternatives such as bio-farming and organic pesticides and a limited number of skilled professionals are hampering the growth of the market.
Herbicides has the largest revenue because it is the most commonly used pesticide.
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Asia-Pacific countries have the fastest growing rate due to the emerging economies, rising pesticide production, improved domestic pesticide availability, and sharply increasing utilization rates.
Major players in the Asia-Pacific Agricultural Pesticide Market are Syngenta, Israel Chemicals, Yara International ASA, Bayer, BASF SE, The Mosaic Co., and Dow Chemical Limited.
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