Insecticides Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030
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Insecticides
are specific types of pesticides employed to control or kill a variety of crop-damaging
insects and disease carriers. Various kinds of insecticides available in the
market include organic insecticide & inorganic insecticide, repellants and
non- repellants and others. These are primarily used across various industry
verticals, including agriculture and medical and also in households.
GROWTH DRIVERS:
The primary
factors driving the growth of the market include: rising adoption of
insecticides across industries and households; the escalating demand for food
security across the globe; the rapidly declining per capita arable land as a
result of growing urbanization & industrialization across the world; the surging
instances of crop losses due to insect infestation; the robust advancements in
farming practices & techniques; the proliferating cases and concerns
regarding insect transferable diseases and the soaring awareness among
consumers regarding the adverse effects of vector-borne diseases and role of
insects in spreading them.
Additionally, the
ever-increasing global population has been creating a surge in the overall
demand for food at a rapid pace across the world. In order to meet this demand,
the global food production needs to be increased by about 70.0% by 2050. In
particular, the global cereals production must reach around 3.0 billion metric
ton by 2050, from nearly 2.1 billion metric ton in 2018. To increase the global
production of crops, farmers across various regions are greatly emphasizing on
increasing their agricultural productivity by reducing the damage caused by
pests of all kinds in their farms. Thus, the increasing demand for food and the
growing focus on enhancing agricultural production is slated to bring about
tremendous growth for the global insecticides market during the forecast
period.
Moreover, with
the growing application of insecticides, the number of insects developing
resistance against insecticides is surging at a massive rate. This is reducing
the overall field performance of these insecticides and is therefore compelling
the manufacturers to focus on increasing their research and development
activities and at the same time invest in the development of products that are
highly effective and efficient. Lately, these manufacturers have been witnessed
to develop insecticides with various natural insect repellents, which are
equally capable of providing efficiency similar to synthetic insecticides. The
development of such new products into the market is expected to create ample
growth opportunities for the global insecticides market during the forecast
period.
Furthermore,
other factors such as the growing introduction and demand for bioinsecticides
as substitutes due to their environmentally-friendly nature; the increasing demand
for professional pest management products due to the emergence of new pests and
diseases; the escalating R&D activities, and new product launches by the
marquee players in the market, and the surging average household expenditure on
insecticide products in emerging countries are expected to further bolster the
growth of the global insecticides market.
However,
factors such as the burgeoning concerns over the harmful side effects of
insecticides on human health and the implementation of various stringent
government regulations over the use of synthetic chemicals in insecticides are
estimated to hinder the growth of the global insecticides market to a certain
extent during the forecast period.
INSECTICIDES MARKET SEGMENTATION:
By Type:
·
Synthetic Insecticides
·
Bio-insecticides
By Chemical Composition:
·
Pyrethroids
·
Organophosphate
·
Carbamates
·
Organochlorine
·
Botanicals
·
Other types
By Crop Type:
·
Cereals & Grains
·
Oilseeds & Pulses
·
Fruits & Vegetables
·
Other Crop Types
By Formulation:
·
Wettable Powder
·
Emulsifiable Concentrate
·
Suspension Concentrate
·
Oil Emulsion In Water
·
Microencapsulated Suspension
·
Granules
·
Other Formulations
By Form:
·
Sprays
·
Baits
·
Strips
By End-User:
·
Agriculture
·
Medicine
·
Industrial Sector
·
Personal
By Region:
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Based on crop
type, the cereals & grains segment accounted for the most significant
portion of the global insecticides market in 2021. The segment is anticipated
to further retain its dominance in the market over the forecast period of
2022-2030. Factors such as the high production and consumption of cereals &
grains, mainly corn, rice, and wheat across a majority of the countries across
the globe and their increasing application in large amounts in animal feed are
propelling the growth of this segment.
Based on
chemical composition, the organophosphate segment captured the largest share of
the global insecticides market in 2021. The trend is expected to continue
throughout the forecast period on account of factors such as the increasing
high usage of organophosphate across the globe due to its cost-effectiveness and
its ability to be used in various crops and insects.
Based on
formulation, the emulsifiable concentrate segment captured the largest share of
the global insecticide market in 2021. The segment’s position is expected to
remain unchanged over the forecast period. Factors such as their wide usage
across the globe owing to their easy-to-handle attributes, adaptability, and
versatility for use in agricultural and non-agricultural applications.
Based on the end-user,
the agriculture segment is projected to attain the highest CAGR in the market
during the forecast period due to the increasing cases of crop losses due to
insect infestation around the world.
REGIONAL OUTLOOK:
The Asia Pacific region dominated the global
insecticides market in 2021, followed by North America and Europe. The region
is poised to retain its lead in the market and emerge as the fastest-growing
regional market for insecticides over the forecast period. The primary factors
ascribed to the growth of the market in the region include but are not limited
to: the surging production and sales of insecticides in the region; the rapidly
expanding agricultural sector in the emerging countries including India and
China in the region; presence of a large diversity of flora and fauna in the
region; the soaring awareness regarding pesticides, and the escalating
investments in R&D of biological insect control products in the region.
Moreover, the proliferating food demand due to the ever-increasing population is
also significantly contributing to the growth of the insecticides market in the
region. India, China, Japan, and South Korea are the major contributors to the
growth of the market in the Asia Pacific.
The North American region held the second largest share
of the global insecticides market in 2021. The region is expected to witness
swift expansion over the forecast period. Growth of the region can be
attributed to factors such as the highest per hectare consumption of
insecticides in the region; the presence of robust R&D capabilities of well-established
players in the U.S.; the massive production of insecticides in the region and the
burgeoning awareness about the spread of vector-borne diseases among people in
the region. The U.S. and Canada are the major contributors to the growth of the
market in the region.
KEY COMPANIES IN INSECTICIDES MARKET:
·
Bayer CropScience
·
FMC Corporation
·
Nufarm Limited
·
Corteva Agriscience
·
Oxon Italia S.p.A
·
Syngenta AG
·
ADAMA Agricultural Solutions Ltd.
·
BASF SE
·
E.I. DuPont De Nemours & Company
·
Cheminova A/S
·
Dow Chemical Company
·
Nissan Chemical Corporation
·
Arysta Lifesciences
·
Marrone Bio Innovations
·
Monsanto Company
·
Arysta LifeScience
·
Drexel Chemical Company
·
BioWorks Inc.
·
Novozymes A/S.
· Other Players