PORTLAND, Oregon and
PUNE, India, January 23, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research,
titled, "Organic pesticides Market by Product, Crop Type,
and Mode of Application: Global Opportunity Analysis and Industry
Forecast, 2017-2023," the global organic pesticides market
size valued at $99,200 million in
2016, and is expected to reach $279,195
million by 2023, registering a CAGR of 14.9% from 2017 to
2023. North America dominated the
global market, accounting for approximately one-third share in
2016.
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Organic pesticides allow the farmers to control pest and
diseases in plants without resorting to conventional pesticides.
These pesticides can be much more easily decomposed by the
environment as compared to chemical pesticides. Increase in demand
for organic produce and other products produced by means of organic
farming drives the market growth. The demand for organic food
products in North America,
Europe, and Asia-Pacific is witnessing growth rates of
13.8%, 13.5% and 12.1%, respectively. Rise in concern over the
adverse impact of synthetic pesticides has enforced governments
worldwide to phase out hundreds of toxic chemical pesticides, thus
creating ample market opportunities for organic pesticides. The
costs associated with development is high. In addition, the need
for skilled laborers, exclusively trained for the production,
increases the cost. This in turn, is anticipated to hamper the
growth of the market. Research in production, formulation, and
delivery of organic pesticides may assist in commercialization of
organic pesticides to a high extent.
The organic pesticides market is segmented based on
product as natural and synthetic. The natural segment is estimated
to account for major share in the global organic pesticides market
in 2016. The synthetic segment is expected to witness high growth
rate during the forecast period.
The organic pesticides market is segmented based on crop type
into permanent and arable. The arable segment held a significant
market share and is anticipated to exhibit highest growth during
the forecast period.
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Based on mode of application, the global organic pesticides
market is segmented into seed treatment, on farm, and after
harvest. The on farm segment held the highest share in the global
organic pesticides market and is expected to maintain its dominance
during the forecast period. This segment is also projected to
witness significant growth rate during the analysis period.
KEY FINDINGS OF THE STUDY
- In terms of value, the natural segment accounted for
significant share of the global organic pesticides market in 2016,
and is expected to grow at a CAGR of 15.6% from 2017 to 2023.
- Asia-Pacific is anticipated to
witness the highest growth, registering a CAGR of 19.2%, in terms
of value.
- India is expected to witness
the highest growth rate in the Asia-Pacific market over the forecast
period.
- Arable segment is expected to grow at a CAGR of 15.4%, in terms
of value from 2017 to 2023.
In 2016, North America
accounted for the highest share. However, Asia-Pacific is anticipated to gain maximum
share by the end of the forecast period, due to high rate of
adoption of organic pesticides in this region. Asia-Pacific is expected to grow at the
highest CAGR in the near future.
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The key players operating in the global organic
pesticides industry are Mark Organics, Bayer
Cropscience, Sikko Industries Ltd., Parry America, Monsanto, Arysta
LifeScience, Andermatt Biocontrol AG, DuPont, Dow AgroSciences, and
Certis USA LLC.
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