DEC 2017
Market Insights
The Pakistani pesticides industry has been witnessing a relatively steady growth, owing to the demand for biopesticides and the adoption of herbicide resistant crops by farmers. The Pakistani crop protection market was estimated to be worth USD 427.86 million in 2015 and is poised to reach USD XX million by 2022, recording a CAGR of 18.47% during the forecast period of 2017-2022. The Pakistani pesticide market is import dependent, with around 25.30% of the pesticides imported in 2016. In 2013, the annual import value of pesticides in the country accounted for more than USD 80.28 million and the import value is estimated to reach XX million by 2022. When compared to the imports, the indigenous production of pesticides is on the rise in Pakistan, with a production value of USD 227.88 million in 2013 and an estimated production value of USD XX million by 2022.
Market Dynamics
The factors that drive the crop protection chemicals market in Pakistan are - growing food demand, low agricultural productivity, increase in disposable incomes, and implementation of agriculture development plan by the government of Pakistan. On the other hand, the restraints limiting the market growth include - high prices of pesticides and increase in the area under BT cotton, the highest insecticide consuming crop of the country. With the widespread use of pesticides in Pakistan, future opportunities for market growth lie in the inclination toward the adoption of new technologies and use of sustainable and integrated pest management techniques in farming practices.
Market Segmentation
The Pakistani crop protection market is segmented based on chemical types, application types, and trade, production and consumption analysis. Based on chemical type, the market is segmented into herbicides, insecticides, and fungicides. Further, it is segmented into synthetic and biological pesticides. Based on chemical type, the market is segmented in terms of value and volume. By chemical type, insecticides have the largest market share by value and volume. By application, the market is segmented into crop-based pesticides and non-crop based pesticides, with crop-based pesticides accounting for a market share of 97%. Crop-based pesticides are further segmented into grains and cereals, oil seeds, and fruits and vegetables, with grains and cereals accounting for 40% of the sector, followed by oil seeds with XX%. The market is further analyzed based on trade, production, and consumption analysis. The import value of pesticides in 2016 was estimated to be USD 128.25 million, for a volume of around XX thousand metric tons. In 2016, the production of pesticides was XX thousand metric tons and the consumption of pesticides was around 67.8 thousand metric tons.
Key Industry Players
Some of the major pesticide companies in Pakistan are -
The top five companies account for more than 75% of the market share. Due to immense competition and introduction of generic pesticides by local companies, two multinationals, Dow Agro Sciences and DuPont, have had to wind up their operations in Pakistan and are now operating through distributors in the country.
Recent Industry Insight
“ICI Pakistan has signed an agreement with DuPont to be their supplier of their surfacing solution Corian and Montell in Pakistan.”
Key Deliverables in the Study
The report holds importance for the following stakeholders -
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