Global Organophosphate Pesticides Market, By Ingredient (Malaton, Diazinon, Glyphosate, Methamidophos, Dimethoate, Chlorpyrifos, Parathion, Others), By Applications (Plant Based & Non-Crop Based), By Type (Herbicides, Fungicides, Insecticides & Others) By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Industry Trends and Forecast to 2030.
Global Organophosphate Pesticides Market
Global Organophosphate Pesticides Market is expected to reach USD 8.21 billion by 2022, which will reach USD 11.04 billion in 2030, registering a CAGR of 3.77% during the forecast period 2023-2030.
Organophosphate pesticides are comprehensive organic compounds that help fight pests. Organophosphate pesticides are chemical compounds derived from phosphoric acid in which an alkyl group replaces at least one hydroxyl group. Insecticides containing organophosphates have acidic chemical properties and are partially protonated.
Market Drivers
Increasing risk of contamination in crops and animal feed. The organophosphate pesticides market is expected to grow during the forecast period due to increased risk of pesticide contamination in animal feed and presence of insects in crops. As the world's population grows, effective control methods are needed for sustainable food production. The global market for organophosphate pesticides is driven by strict food safety regulations, advances in agricultural technology and international trade in food materials. Government initiatives to support agricultural practices worldwide. Governments of various countries are investing heavily in agriculture to boost the agricultural sector and meet the growing demand for food. More than 1,300 Chinese companies invested $26 billion overseas in agriculture, forestry and fisheries in 2016, according to China's Ministry of Agriculture. In addition, the Government of Canada has invested $560,000 in the Canadian Federation of Agriculture (CFA) in 2020 to develop the Canadian Agriculture and Food Sustainability Initiative. The European Union launched programs such as the Common Agricultural Policy (CAP) and Young Farmers. As a result of various initiatives of the government, agricultural production is increasing in various regions. As a result, as crop production increases, the demand for organophosphate pesticides increases.
Market Restraints
Factors such as safer alternatives in the market and several environmental and health risks associated with these pesticides are significantly limiting the growth of the market. This Organophosphate Insecticides market report includes information on new recent developments, trade regulations, import and export analysis, production analysis, value chain optimization, market share, impact of domestic and local market players, analyzes opportunities based on new revenue pockets and changes. market regulations, strategic market growth analysis, market size, category market growth, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.
Market Opportunities
Growing food trade across the borders of emerging markets expands the market's growth opportunities. The increase in foodborne diseases and poor sanitary and processing conditions in factories in some countries make it necessary to use organophosphorus pesticides in food. In emerging economies that have entered the food trade, the implementation of regulations and the authority of authorities to prohibit the import and supply of contaminated food and to recall food are expected to increase the demand for pesticides in these regions. Additionally, increasing outbreaks of mycotoxicosis in Asia and Africa are expected to create significant growth opportunities for organophosphate pesticides in those regions.
Impact Of COVID-19
COVID-19 has proven to be a hindrance to the growth of the organophosphate pesticides market. Due to a lack of workers and supplies and downtime due to the coronavirus epidemic, deliveries of organophosphate pesticides and other food items from yards have been delayed. India's fruit and vegetable exports fell 16 percent to $1 billion from April 2019 to January 2020, compared to $1.19 billion last year (APEDA), according to the Agriculture and Processed Foods Export Authority. Industries are closing all over the world and labor shortages have forced many manufacturing companies to halt production, further hampering market growth.
Market Segmentation
Global Organophosphate Pesticides Market segmentation on the basis of By Ingredient, By Applications, By Type.
Based on the By Ingredient market is segmented into Malaton, Diazinon, Glyphosate, Methamidophos, Dimethoate, Chlorpyrifos, Parathion, Others. Further market is segmented into By Applications market is segmented into Plant Based & Non-Crop Based. By Type market is segmented into Herbicides, Fungicides, Insecticides & Others.
Regional Analysis
Global Organophosphate Pesticides Market is segmented into five main regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The United States dominates the North American market due to innovative industries and expanding R&D in product types (such as equipment, reagents, and kits) and other services, as well as increasing usage with a promising growth rate during 2023-2030. for reagents and kits, Germany dominates the market and leads growth in Europe. China is expected to dominate the market in Asia Pacific due to the development of food testing technology and innovation, as well as the growing consumption and growing lifestyle of the region in the region.
Key Players.
Various key players are listed in this report such as Bayer AG, BASF SE, Yara International, Compass Minerals, Syngenta Crop Protection AG, ADAMA, Nufarm Limited, Sumitomo Chemicals, UPL, K+S Group, Israel Chemical Company.
Market Taxonomy
By Ingredient
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