LONDON, Sept. 20, 2016 /PRNewswire/ -- Pesticides are chemicals used to eliminate or control a variety of pests related to agriculture that can damage crops and livestock and reduce farm productivity. Agricultural chemicals are chemical agents such as pesticides, fungicides, herbicides and insecticides that are used to control crop-harming organisms (e.g., fungi, nematodes, mites, insects and rodents) or viruses.
Pesticide and other agricultural chemical accounted for X% of the chemicals market in 2015. Pesticides relate to the agriculture industry, which is itself is a relatively small part of the overall global economy, it is therefore small than chemicals which contribute to industrial processes such as petrochemicals.
Asia was the largest geographic market in the pesticide and other agricultural chemical market in 2015, accounting for $XX billion or XX% of the global market. Asia is the largest market because of the presence of a large farming community in China and India using pesticides. The Americas was the second-largest geographic market, accounting for $XX billion or XX% of the global market. Europe was the third-largest geographic market, accounting for $XX billion or XX% of the global market.
Global per capita pesticide and other agricultural chemical consumption grew from $XX in 2011 to $XX in 2015 at a CAGR of XX% and is expected to grow to $XX in 2019 at a CAGR of XX%. Per capita consumption is increasing because of the increase in crop production throughout the world.
Biopesticides are becoming increasingly popular and are safer than traditional chemical pesticides. Biopesticides are derived from natural materials such as animals, plants, bacteria and certain minerals. When compared to chemical pesticides, biopesticides are inherently less harmful and are more target-specific than chemical pesticides. For example, canola oil and baking soda have pesticidal properties and are considered biopesticides.
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