DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/4hd338/global_pesticides) has announced the addition of the "Global Pesticides Market - Trends and Forecasts (2015-2020)" report to their offering.
The global value market for pesticides stood at $58.46 billion in 2015 and is expected to register growth at a CAGR of 5.79% between 2015 and 2020.
Pesticides constitute the largest category within the market for crop protection chemicals, with biopesticides accounting for a comparatively minute share. However, growing environmental concerns regarding the use of synthetic pesticides that are primarily produced using petrochemical or inorganic raw materials have resulted in increasing demand for eco-friendly biopesticides.
Factors driving the markets for pesticides include decreasing arable land, increasing population, the requirement of improving crop yields and adoption of GM technology, specifically herbicide-resistant crops. On the other hand, regulatory authorities such as the EPA (Environment Protection Agency) frequently come up with stringent laws related to curbing pesticide use for alleviating environmental damage and increasing consumer awareness about pesticide consumption, which is expected to be instrumental in slowing down growth in demand for synthetic pesticides.
Biopesticides, on the other hand, are manufactured with renewable resources and are free of synthetic active ingredients. Being organic, free of chemical residues and eco-friendly products, biopesticides have been witnessing faster growth in demand compared to their synthetic counterparts.
Governments in several countries have come up with initiatives aimed at promoting the development and use of biopesticides because of their low toxicity, greater safety and higher effectiveness in controlling pests. However, growth in the market has also been hampered due to the entrenched pesticides market, inconsistent efficiency of biopesticides and lack of awareness among consumers about the availability of these products.
Key Topics Covered:
2. Key Findings of the Study
3. Market Overview
4. Market Dynamics
5. Market Segmentation
For more information visit http://www.researchandmarkets.com/research/4hd338/global_pesticides.