How Has the Speciality Pesticides Market Evolved Historically and What is its Current Size?
The speciality pesticides market has seen considerable growth due to a variety of factors.
• Over the past few years, the specialty pesticides market has experienced a significant increase in its size. The market, which is expected to rise from $142.86 billion in 2024 to $150.13 billion in 2025, projects a compound annual growth rate (CAGR) of 5.1%.
This growth during the historic period is due to factors such as the escalating need for crop safeguarding, the broadening of precision farming methods, rising global population, the advent of pest strains that are resistant, the increasing demand for sustainable agriculture, growing consciousness about food safety, and the enlargement of protected cultivation.
What Does Future Hold for The Speciality Pesticides Market By 2029?
The speciality pesticides market is expected to maintain its strong growth trajectory in upcoming years.
• Over the following years, the size of the specialty pesticides market is projected to experience significant expansion. The market is forecasted to reach $198.22 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.2%.
This growth during the predicted period can be linked to factors such as the globalization of agriculture, the increase in demand for high-end crops, advancements in biopesticides, the swift expansion of organic farming, global concerns about food security, emphasis on reducing environmental impact, and regulatory backing for sustainable practices. The major trends anticipated in this time frame include integrated pest management (IPM), formulation innovation, progress in seed treatment, biotechnological solutions for pest control, digital agriculture and intelligent pesticides, investment in R&D, and crop-specific solutions.
What Are The Primary Growth Drivers In The Speciality Pesticides Market?
The specialty pesticides market is anticipated to expand due to the growing food demand. Agricultural crops like fruits, vegetables, grains, and others, intended for human ingestion, are referred to as food crops. The surge in food consumption can be attributed to rising population and affluence in developing countries. Specialty pesticides help in elevating food productivity by improving yield and curtailing losses inflicted by pests, diseases, and weeds. For instance, the USDA, a US-based federal agency, reported in April 2024 that in 2022, US households assigned 12.8 percent of their expenditure to food, an increase from 12.4 percent in 2021. Consequently, the escalating food demand is set to influence the growth of the specialty pesticides market.
What Is The Segmentation Of The Global Speciality Pesticides Market?
The specialty pesticides market covered in this report is segmented –
1) By Type: Fungicide, Insecticide, Herbicides, Other Types
2) By Origin: Synthetic, Bio-Based
3) By Application: Grains, Cereals, Oilseeds, Pulses, Fruits And Vegetables, Other Applications
Subsegments:
1) By Fungicide: Systemic Fungicides, Contact Fungicides, Biofungicides, Multi-Site Action Fungicides, Seed Treatment Fungicides
2) By Insecticide: Synthetic Insecticides, Biological Insecticides, Insect Growth Regulators (IGRs), Systemic Insecticides, Contact Insecticides
3) By Herbicides: Pre-Emergent Herbicides, Post-Emergent Herbicides, Selective Herbicides, Non-Selective Herbicides, Residual Herbicides
4) By Other Types: Rodenticides, Acaricides, Molluscicides, Nematicides, Pheromones
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What Emerging Trends Are Influencing The Growth Of The Speciality Pesticides Market?
Leading firms within the specialty pesticides market are fabricating novel pesticides with unique formulations in order to establish a competitive advantage in the industry. In April 2022, for example, BASF SE, a chemical company based in Germany, introduced Exponus, an insecticide aimed to assist Indian farmers in protecting their crops and augmenting productivity. Propelled by the innovative active ingredient Broflanilide from BASF, Exponus differentiates itself through its unique mode of action, designated under the new IRAC group 30, which signifies meta-diamides and isoxazolines. This categorization guarantees that there is no familiar cross-resistance with existent products, validating Exponus as a superior resource in the management of insecticide resistance. The insecticide bestows strong, rapid, and adaptable control over resilient pests such as caterpillars and thrips, tackling the issue of resistance to current chemistries.
Who Are the Key Players In The Speciality Pesticides Market?
Major companies operating in the specialty pesticides market are:
• Syngenta Crop Protection AG (ChemChina)
• Bayer Crop Science LLC
• BASF SE
• Dow AgroSciences LLC
• Sumitomo Chemicals Co. Ltd.
• Corteva Agriscience Division of DowDuPont
• FMC Corporation
• UPL Limited
• Nufarm Limited
• ADAMA Agricultural Solutions Ltd.
• Isagro SPA
• Limin Group Co. Ltd.
• Hailir Pesticides and Chemicals Group Co. Ltd.
• Shandong Luba Chemical Co. Ltd.
• Jiangsu Changqing Agrochemical Co. Ltd.
• Guangdong Zhongxun Agricultural Science Co. Ltd.
• Zhejiang Heben Pesticide & Chemicals Co. Ltd.
• Nippon Soda Co. Ltd.
• Nissan Chemical Corporation
• Mitsui Chemicals Agro Inc.
• DuPont de Nemours Inc.
• Makhteshim Agan Industries Ltd.
• Sinochem International Corporation
• Jiangsu Huifeng Agrochemical Co. Ltd.
• Jiangsu Yangnong Chemical Group Co. Ltd.
• Rotam CropSciences Ltd.
• Gowan Company LLC
• Albaugh LLC
What Are The Regional Insights Into The Speciality Pesticides Market?
Asia-Pacific was the largest region in the specialty pesticides market in 2024. The regions covered in the specialty pesticides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
