Mordor Intelligence releases pesticide market report
The annual report focuses on growth, trends and forecasts in the pesticides market. Information in the report said the global volume is forecast to reach 3.4 milion tones by 2020 - up from 2.3 million tons in 2014. Volume growth between 2015 and 2020 is expected to be 6.2 percent.
Global market value for pesticides was $54.8 billion in 2014, and it is estimated it will jump to $81.8 billion by 2020. The report cites decreasing arable land, population growth and need to improve crop yields as reasons for pesticide market growth, which is expected to be greatest in the Asia-Pacific region and slowest in North America.
Factors that could impede the market's growth include more stringent laws from the Environmental Protection Agency and the banning or phasing out of certain pesticides.
The report is available online at http://www.mordorintelligence.com/industry-reports/global-crop-protection-chemicals-pesticides-marke....