Dublin, April 15, 2022 (GLOBE NEWSWIRE) — The “Insecticides Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029” report has been added to from ResearchAndMarkets.com offer.
The Global Insecticides Market was valued at USD 18.47 Billion in 2020 and is projected to reach USD 30.62 Billion by the end of forecast period, growing at a CAGR of 5.9% during during the forecast period from 2021 to 2029. Latin America dominated the market in 2020 and is also expected to show a similar trend in the coming years. However, Asia-Pacific is expected to be the fastest growing market for insecticides over the forecast period.
Insecticides are solutions formulated to harm, repel, kill or mitigate one or more species of insects. Some insecticides are responsible for disrupting the nervous system of insects while others damage the exoskeletons. Insecticides can be packaged in several forms which include sprays and various others. Insecticides are widely used for crop protection. The growth of the food and beverage industry has raised concerns about the effectiveness of crop protection, which is a key driver for the growth of the insecticide market. The crop protection industry is expected to show a CAGR of 3% during the forecast period.
Furthermore, the global crop protection market was valued at US$49.92 billion in 2016. The global population stood at 7.8 billion in 2020 and the population is expected to cross the 9.5 billion mark. by the end of 2050. Rapid population growth coupled with rising incomes in developing countries have led to increased demand for food, and demand is expected to increase by more than 50% by 2050.
Demand can only be met by increasing agricultural production, either by improving productivity or by increasing the amount of arable land. These factors have resulted in increased demand for crop protection, which in turn increases the growth of the insecticides market.
Moreover, the demand for insecticides in the residential sector has seen an increase in the past few years and is also expected to show the same trend in the coming years. The outbreak of several diseases such as malaria, chikungunya, and dengue, among others, is one of the major reasons for the growth of the insecticides market. These diseases are predominant in parts of Southeast Asia and the Pacific Islands. In addition, the demand for insecticides is also fueled by the growing demand for natural products, as consumers willingly replace synthetic products infused with chemicals due to their dangerous nature, with natural ingredients.
The agricultural sector, based on the end use which is expected to continue to dominate the insecticide market in the coming years
On the basis of end use, the agricultural sector dominated the global insecticide market in 2020 and is expected to maintain its position throughout the forecast period. Food and agribusiness is a US$5,000,000,000 industry and is showing positive signs of growth. With this trend, caloric demand is expected to increase by at least 50%, while feed demand and human consumption are expected to increase by around 100%. percent.
The fruit and vegetable industry forms the backbone of human consumption and is considered vital to a balanced and healthy diet. Over one billion metric tons of vegetables are produced each year, with tomatoes leading the way. In the United States, fruits and vegetables are considered one of the main snack products. The produce industry in the United States relies heavily on advanced technologies to keep produce fresh longer.
The increase in the vegan population in the country is another major factor that is pushing the demand for fruits and vegetables, thus complementing the growth of the agricultural sector. These factors have increased the demand for crop protection in the agricultural sector, which in turn increases the growth of the insecticides market.
However, insecticides in the residential sector are rapidly gaining prominence among consumers due to the emergence of several deadly diseases and consumer awareness of these diseases. West Nile fever is an infection transmitted by mosquitoes. West Nile virus prevalence has increased significantly in southern and central Europe in 2020 over the past four years.
High temperatures, dry weather and prolonged periods of rain are some of the main reasons for the extensive breeding of mosquitoes. European Union member states reported 23 West Nile virus infections during the period October 31 to November 8, 2020, with most cases recorded in Italy.
These factors have raised serious concerns and given way to the rapid adoption of various types of household insecticide products, thereby boosting the growth of the market. Additionally, the rising incidence of dengue fever, malaria, and chikungunya has prompted consumers to take appropriate protective measures, which has created several growth opportunities for the residential insecticide market.
Latin America captured most of the market in 2020 and is expected to show a similar trend in the coming years
Latin America led the global insecticide market in 2020, closely followed by Asia-Pacific. Asia-Pacific is expected to overtake Latin America in the coming years. Brazil is the main economic driver of insecticides in Latin America. Latin American countries have different economic systems, but agriculture plays an imperative role in every country. The agricultural sector in Latin America covers a wide range of farming practices and structures, from smallholders in Central America to professionalized mega-farmers in Argentina and Brazil.
Soybeans and corn are the main cultivable crops in the region, mainly concentrated in Mexico, Brazil and Argentina. Favorable conditions paved the way for double cropping in several countries, increasing Latin America’s agricultural potential. Additionally, the region plays an important role in global agricultural trade, with Argentina and Brazil ranked among the top exporters of grains and soybeans. The total agribusiness market in Latin America was valued at US$27.4 billion in 2016, with crop protection and seed treatment accounting for the majority share. These statistics signify the positive growth of the insecticides market in Latin America.
Asia-Pacific has become the second largest region in the global insecticide market. China, Japan and India are the forerunners of industry growth. The region is characterized by a conglomeration of countries with different languages, economic and political systems and cultural origins.
Food safety is a priority for local governments in developing countries, which enables greater use of crop protection, thereby fueling the growth of the insecticide market. Moreover, the demand for household insecticides in Asia-Pacific is also on the rise. The epidemic of several diseases such as malaria and dengue fever are some of the major reasons for the growth of the household insecticides market. 2
020 registered 11,500 more dengue cases in India than the previous year, and the number of deaths recorded from the disease stood at 46, 11 more than the previous year. According to the National Vector Borne Disease Control Program (NVBDCP), dengue fever cases in the country increased to 28,702 in 2020 from 16,870 in 2016. These factors have led to an increasing need for home insecticide products, which which drives the growth of the market.
Product development is one of the key strategies of the companies operating in the Insecticides market
Notable players operating in the global insecticides market include BASF SE, Bayer AG, DowDupont Inc., FMC Corporation, Monsanto Company, Syngenta AG, Adama Agricultural Solutions Ltd., Arysta Lifescience, Vanguard Corporation, NuFarm Ltd., Avon Products Inc. , Enesis Group, ExOfficio LLC, Reckitt Benckiser Group Plc and 3M Company, among others.
In April 2020, Syngenta AG announced the early development of a new insecticidal active ingredient that will combat resistance in malaria vector control. The latest active ingredient is the result of a collaboration between the Innovative Vector Control Consortium (IVCC) and Syngenta to identify and develop new cutting-edge areas of new chemistry suitable for vector mosquito control. This development is expected to lead to an evolution of the insecticide market in the coming years.
Key questions answered by this report
- Who are the key manufacturers and distributors operating in the Insecticides market?
- What are the most important segments of the market during the forecast period of 2021 to 2029?
- What are the fastest growing market segments for the forecast period?
- What are the current market trends in the insecticides market and valuable opportunities for players?
- How do regulatory frameworks affect global and regional markets?
- Who are the major players operating in the global market and the strategies adopted by them?
- What is the market size and trend in emerging and developed markets?
Main topics covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
3.2 Market Dynamics
3.2.1 Market Drivers
22.214.171.124 Growing Need for Crop Protection Drives Market Growth
126.96.36.199 Infectious Disease Outbreak Drives Residential Insecticide Market Growth
188.8.131.52 Increase in crop losses
3.2.2 Market constraints
184.108.40.206 Strict Regulations Imposed by Regulators Leading to Market Slowdown
3.2.3 Market opportunities
220.127.116.11 Integrated Pest Management Programs Expected to Drive Future Growth of Insecticides
3.3 Attractive investment proposition, by geography, 2020
3.4 Market Positioning of Key Players, 2020
Chapter 4 Global Insecticide Market, By Active Ingredient
Chapter 5 Global Insecticides Market, By Source
Chapter 6 Global Insecticides Market, By Form
Chapter 7 Global Insecticides Market, By End Use
Chapter 8 Global Insecticide Market, By Geography
Chapter 9 Company Profiles
9.1 BASF SE
9.2 3M Company
9.3 Adama Agricultural Solutions
9.4 Arysta Life Sciences
9.5 Avon Products Inc.
9.6 Bayer AG
9.7 DowDupont Inc.
9.8 Enesis Group
9.9 Ex officio LLC
9.10 FMC Corporation
9.11 Monsanto Corporation
9.12 NuFarm Ltd.
9.13 Reckitt Benckiser Group Plc
9.14 Syngenta AG
9.15 Vanguard Society
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