Organophosphate Pesticides Market size is expected to register remarkable growth rate during the forecast period i.e., between 2024-2036.
The major driving factor for the growth of the market is the wide range of applications, low price, and easy availability of organophosphate pesticides. In order to meet the rising need for food for the growing population, the farmers are implementing new farming practices, including increased use of chemical pesticides, which is estimated to boost the growth of the market. Moreover, ongoing research and experiments to reduce the toxicity and improve the efficiency of these pesticides is projected to boost the growth of the organophosphate pesticides market.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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Regional Scope |
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The organophosphate pesticides market is segmented on the basis of type into herbicide, insecticide, fungicide, and others, out of which, the insecticide segment is expected to gain the highest revenue during the forecast period owing to the increasing requirement of these chemicals to protect the crops from maggots and bugs. On the basis of ingredients, the market is further branched into malathion, glyphosate, methamidophos, chlorpyrifos, dimethoate, parathion, and others. Amongst these, the malathion segment is foreseen to hold the largest market share by the end of 2021, owing to its application in mosquito, ticks, and ant repellants. On the basis of application, the market is segmented into oil seeds, grains & cereals, turf & ornamental grass, and others, out of which, the cereals & grains segment is projected to hold a substantial market share during the forecast period owing to the growing demand for food crops.
However, rising concerns regarding the pollution of the aquatic ecosystem caused by pesticides are anticipated to act as a restraint in the growth of the global organophosphate pesticides market.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Ingredient |
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Application |
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On the basis of regional analysis, the global organophosphate pesticides market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these, the market in North America industry is anticipated to account for largest revenue share by 2036, on the back of increasing export-oriented agricultural practices, as pesticides prolong the life of the crop after harvesting.
The market in the Asia Pacific is anticipated to attain considerable CAGR throughout the forecast period, owing to the notable utilization of pesticides in the agriculture sector. Increasing agricultural activities will raise the demand for pesticides, which is expected to promote the market growth. According to the World Bank, as of 2019, agriculture and fishery sector valued 16.291 % of the total GDP in the South Asia region. Moreover, increasing pesticides usage in major economies, such as, China, is projected to significantly boost the market growth in the region. The pesticides use in China amounted to more than 1.4 million tons in 2018. Along with protecting the crops from pests, pesticides also prolong the life of the crop, increase crop yield, and significantly reduce post-harvest losses. This property is highly beneficial in the hot and humid regions of the Asia Pacific, which is estimated to promote the organophosphate pesticides market growth.
Author Credits: Nilanjana Ray
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