Insecticides Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

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The global insecticides market is projected to expand at a compounded annual growth rate (CAGR) of 5.5% over the forecast period of 2022-2030.

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

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