Canada crop protection chemicals (Pesticides) market- Growth, Trends, Forecast for the period (2017 - 2022)
The global volume market for pesticides is projected to reach 3.2 million tons by volume and US$81.2 billion in value by 2020 with an estimated cagr of 6.1% and 7% between 2015- 2020.
North America is the largest global market for pesticides, with Canada pesticide market accounting for 1.4% in 2008 of the global market and is estimated to reach 51.120(In 1000tons) in terms of volume and US $1,509.55million by value by 2020 with a cagr of 5.2% and 6.72% respectively for volume and value between 2015 -2020. Canadian farmers use pesticides and plant biotechnology to meet the food safety and quality needs to drive its economy, while protecting its environment.
Demand for healthy diets has increase the consumption of cereals, fruits and vegetables in Canada. This has resulted in integration among growers, federal governments and industries to improve the crop yield to meet the Canada food supply requirements. All this ,without causing adverse effects to human safety and ecological balance. Equal priority for food safety and quality is driving pesticide market to develop new products and technologies to provide solutions for disease and pest control. However, increasing presence of pesticide residues on food, crops resistance to pesticides is a restrain for the synthetic pesticide market; and is driving the Biopesticides market in Canada. In 2013, Canadian Biopesticides accounted approximately $2-3 billion of the $36 billion pesticide market.
Banning of synthetic pesticides in Canadian provinces has resulted in growers looking for alternative products for weed, pest and disease control. The Management regulatory Agency (PMRA) is also encouraging growers to use Biopesticides by providing easy access and simplifying the regulatory process for registration of Biopesticides. Another major driver is the NAFTA treaty and OECD alliances which have resulted in transparency in data requirements and ensure trade policies which are collaborative between economies. The price gap between the pesticide products in Canada was higher than in US ten years ago. However, NAFTA has reduced the trade irritants, thus reducing the price cap and encouraging growers towards pesticide application. The major restrain companies find is the complex registration process of Canada PMRA and increasing use of Bt crops.
The Pesticide market is segmented as Synthetic Pesticides and Biopesticides. The pesticide types include Herbicide, Fungicide, Insecticide and other products. Although the Synthetic pesticides are a larger market by value, the Biopesticides are growing and are estimated to grow at a cagr 17.4% between 2015 -2020. Herbicides are the largest market in synthetic and Biopesticides and are used to treat even tough broadleaf weeds. Based on Application, pesticides find use in Crop likes cereals, oil seeds, fruits and vegetables and Non crop based use in turf and ornamental grass , largely used in sport fields and domestic purposes.
The leading players in the Market are DuPont, Monsanto Company, Dow Agro Sciences, Nufarm, Syngenta, BASF and Bayer Crop science. The key strategies companies are adopting are forming alliance partnerships to market their products in to the Canadian regions, for developing new products and innovation. Companies are also looking at sustainable practices to meet with the PMRA'srequirements and reducing the pesticide impact on natural resources and environment. The opportunities the pesticides market sees is in various Industrial applications such as, for fire prevention measures in oil and gas industry, electrical substations, detection of gas leaks by removing vegetation around gas pipelines etc. Also studies on synergy between synthetic and Biopesticides are taking place which talk about reducing the production costs while providing target pesticide application.
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Market Definition for the specified topic along with identification of key drivers and restraints for the market. Market analysis for the Canada Crop protection chemicals (Pesticides) market, with region specific assessments and competition analysis on a global and regional scale. Identification of factors instrumental in changing the market scenarios, rising opportunities and global consumer trends. Extensively researched competitive landscape section with profiles of major companies along with their share of markets. Identification and analysis of the Macro and Micro factors that affect the Canada Crop protection chemicals (Pesticides) market on both global and regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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