Counterfeit Pesticides are Substantial Blow to Economy: Infiniti Research

Infiniti Research offers a variety of chemical industry market intelligence solutions. (Graphic: Business Wire)

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LONDON--()--Organic farming may be a growing trend, but for many farms and many industries, pesticides are still essential to producing large and healthy crops. They are particularly important in developing countries, where organic farming can be more of a luxury, and converting to new processes can be too resource intensive and risky. Infiniti Research estimates that loss of production yield in crops such as wheat, maize, and corn due to pests is 30%-40% annually.

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The market for pesticides is therefore still a large and important one. So important, in fact, that counterfeit pesticides are a real and significant problem. The European Union Intellectual Property Office (EUIPO) recently released a report indicating that fake pesticides are responsible for losses of USD 1.4 billion (€1.3 billion) across the EU every year. This equates to a loss of almost 14% of legitimate revenues and about 2,600 jobs in the EU pesticide industry — if not for competition from fake pesticides, the industry would be earning more money and employing more people.

This is particularly hard on the small and medium-sized enterprises (SMEs) that make up two-thirds of pesticide companies. These businesses together account for 38% of total turnover, but have fewer resources and less ability to deal with counterfeit competition. Germany and France are hit the hardest by this problem, but other European countries are also losing tens of millions of dollars to it.

In an industry like pesticides, which has such a large number of suppliers (there are over 600 legitimate companies in the EU), it can be difficult both to avoid fraud and to find a partner that is the best fit for your business. Identifying and evaluating so many organizations is time consuming, and the task can seem daunting. Market intelligence can help narrow down the possibilities, isolating the top companies and the ones that best meet your needs, allowing you to make a choice you can feel confident in.

Based on your customized selection criteria, Infiniti Research will create a list of potential partners and classify how they fit into your overall competitive landscape. Infiniti’s expert analysts use their 13+ years of experience to identify factors such as market share, production output, strengths and weaknesses, and reputation in the market. Backed by research centers in multiple emerging markets, Infiniti Research uses information from around the globe to determine which companies offer a strategic fit for your long-term plan, erasing doubts and leaving you with the confidence that you have made a good match.

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About Infiniti Research

Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.

With 13 years of experience and offices across three continents, Infiniti Research has been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550 companies across the globe.

Contacts

Infiniti Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.infinitiresearch.com

Contacts

Infiniti Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.infinitiresearch.com