According to the statistical analysis of the crop science team of S&P Global Commodity Insights, in 2022, the sales of the global crop pesticide market will be $78.715 billion, an increase of 9.9% year on year. This sales data refers to the total sales of chemical pesticides and Biopesticide used in crops and forestry (calculated at the factory level), including the sales of southern hemisphere countries in 2021/2022 agricultural year (the year ending June 30) and the sales of northern hemisphere countries in 2022 calendar year.

    If calculated at a fixed exchange rate (CER), the global sales of crop pesticides in 2022 increased by 16.7% year-on-year. Inflation has become the main factor driving market growth. In addition, favorable weather conditions have also boosted sales in major global markets. Exchange rates have become a limiting factor, as the currencies of multiple major countries have weakened against the US dollar.

    Between 2012 and 2022, the global crop pesticide market grew the fastest in 2022. In the past 10 years, only 2012, 2015, and 2020 have seen double-digit growth rates in pesticide sales (calculated by CER).

    In 2022, including non crop pesticides, global pesticide sales reached $87.7 billion, a year-on-year increase of 9.2%. Non crop pesticides here include those used in lawns, nurseries and ornamental plants, families and gardens, deratization, wood preservation, material protection, food storage, public health, post harvest protection, industrial land and other fields, as well as those used by pest Biological pest control officers (PCOs). According to the analysis of S&P Global Commodity Insight Team, the growth of non crop pesticides is closely related to the growth of GDP.

    Herbicides are still the largest product type and their market growth is also the largest. In 2022, the global sales of herbicides for crops reached $37.15 billion, a year-on-year increase of 13.9%; The sales revenue of insecticides was 19.655 billion US dollars, a year-on-year increase of 6.3%; The sales of fungicides were 19.646 billion US dollars, a year-on-year increase of 7.4%. It can be seen that insecticides are only slightly ahead of fungicides. The sales of other products were $2.255 billion, an increase of only 2.5% year-on-year. Herbicides, insecticides, and fungicides respectively account for 47.20%, 24.97%, and 24.96% of the crop pesticide market.