The insecticides market size is estimated to register a significant CAGR of 5% during the forecast period, 2021–2028. The growth of the market is attributed to increasing pressure to fulfill rising food demand among consumers, as well as an ever-increasing population and shrinking arable land.
Insecticides are chemicals that kill insects. They include ovicides and larvicides, which are used to kill insect eggs and larvae. Agriculture, medicine, industry, and consumers all utilize insecticides. Almost all pesticides have the potential to substantially impact ecosystems. Systemic insecticides, which have residual or long-term action, and contact insecticides, which have no residual activity, are the two main types of insecticides. Insecticides come in two varieties: repellent and non-repellent.
For example, ants are unable to detect non-repellents and may easily pass through them. They bring pesticide back to the nest with them and pass it on to their nestmates. This eventually kills all of the ants, including the queen. Many uses of insecticides have provided significant benefits to humans, such as increased crop yields due to protection from defoliation and diseases, the prevention of much spoilage of stored foods, and the prevention of certain diseases, all of which have conserved health and saved the lives of millions of people and domestic animals.
The Covid-19 pandemic affected the demand and supply of insecticides market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for crop protection is expected to propel the market during the forecast period.
- Rising urbanization is major factor fueling the market in the coming years.
- Cost of product is expected to hinder the market expansion.
- Increased awareness of the illnesses and issues caused by pesticides act as key challenge that can hamper the market growth during forecast period.
- Advancement in farming practices & techniques are anticipated to create lucrative opportunities for the market players.
Scope of Insecticides Market Report
The report on the insecticides market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Insecticides Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Origin (Synthetic Insecticides and Bio-insecticides), Application (Grains & Cereals, Oilseed, Commercial Crops, Fruits & Veget
ables, and Others)
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Geographical Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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BASF SE, Syngenta International AG, Corteva Agriscience, UPL Limited, and Bayer Crop Science AG.
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Insecticides Market Segment Insights
The bio-insecticide segment is projected to hold a large market share
On the basis of origin, the insecticides market is bifurcated into synthetic insecticides and bio-insecticides. The bio-insecticide segment is expected to represent a key share of the market during the forecast period. Bio-insecticides are organic formulations that are suggested for the control of crop-feeding insects. In numerous respects, they vary from chemical insecticides.
The indiscriminate and overuse of chemical pesticides enhanced the resistance capacity of plant diseases by several orders of magnitude. They eliminate disease-causing pathogens from the plant and soil. Bioinsecticides are generally effective in little amounts and disintegrate fast, resulting in reduced exposures and avoiding the environmental concerns.
The grains & cereals segment is anticipated to register rapid CAGR
On the basis of application, the insecticides market is divided into grains & cereals, oilseed, commercial crops, fruits & vegetables, and others. The grains & cereals segment is expected to represent a key share of the market during forecast period. In the grains & cereals category, the most common crops treated with pesticides are corn, rice, and wheat. On a worldwide scale, total grain output has been rising, with increasing cereal production, and consumption, it's become increasingly necessary for producers to concentrate on yield and quality by employing effective pesticides.
Asia-Pacific is expected to dominate the market
On the basis of geography, the insecticides market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia-Pacific is anticipated to dominate the market during the forecast period. The insecticides market in Asia-Pacific is being driven by increasing number of resistant pests, rising food demand, and need for enhanced agricultural production.
Farmers are expected to improve production by boosting productivity through the use of insecticides to reduce pest damage. Farmers in the region have gradually shifted to using eco-friendly, natural insecticides, and bioinsecticides as a result of growing knowledge about the impact of chemical insecticides on human health.
Segments
The insecticides market has been segmented on the basis of
Origin
- Synthetic Insecticides
- Bio-insecticides
Application
- Grains & Cereals
- Oilseed
- Commercial Crops
- Fruits & Vegetables
- Others
Geography
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the insecticides market include BASF SE, Syngenta International AG, Corteva Agriscience, UPL Limited, and Bayer Crop Science AG.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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