Thifluzamide Market Trends

Growth Drivers

• Rising Need to Improve Crop Production and Quality – One of the major problems of farmers is the increase in the crop field. With the increasing population, the need for more crop productivity is becoming an issue. Crop yield is the total amount of seeds or grains cultivated from the given land area. It is an indicator to measure the quantity in kilograms per acre or hectare. The low-quality seeds and less productive seeds that are prone to diseases are estimated to drive market growth during the forecast period. The primary crop production worldwide was estimated to raise by over 50% during 2000-2020 reaching more than 9 billion tonnes in the year 2020.

• Higher Utilization of Seed and Foliar Treatment – The worldwide pesticide consumption for agriculture in 2020 was over 50% with about 3 million metric tons from the year 1990.

• Growing Population with Higher Food Demand Around the World – As per the estimations of the United States Department of Agriculture, the need for food was estimated to increase by about 80-100% by the end of 2050 in the U.S.

• Decrease in the Agricultural Land owing to the Rising Construction Sector – According to a survey, the agricultural land reduced from over 2 million farms in 2007 to 2 million farms in the U.S. by the end of 2021.

Challenges

• Rising Awareness Towards Bio-Based Agrochemicals Owing to Increasing Environmental Concern
• Increasing Side Effects of Thifluzamide on Skin and Eyes
• Causes Harmful Effects on Beneficial Insects such as Bees - Many pesticides are designed to kill pests such as insects, weeds, mites, and organisms that cause diseases. These pesticides may cause harm to pollinators such as bees which are useful for crop yield. These factors are expected to drive market growth over the next few years.