Pesticides $52 Billion

World demand for pesticides is projected to increase 2.9 percent per year to $52 billion in 2014. These gains will reflect a reversal of the substantial declines registered in 2009, caused in part by a precipitous price drop for glyphosate, the leading herbicide product. The smaller commercial and consumer pesticide markets are expected to register faster growth than more established agricultural uses, although combined they will account for only about 20 percent of the global market.

Herbicides and insecticides will remain the largest product types. However, fungicides and other pesticide products are expected to register faster growth through the forecast period. Fungicide value gains will derive from a continuing move away from sulfur and other commodities in favor of formulated synthetic fungicides. Moreover, while herbicide and insecticide volumes have been affected by the use of Bacillus thuringiensis (Bt) and other biotechnology-derived products, fungicide usage has not.