Insecticides Market will grow at 4.8% CAGR to exceed USD 3.48Bn in 2021

News   •   Jan 29, 2018 07:41 EST

Zion Research has published a new report titled “Insecticides Market (Pyrethroids, Neonicotinoids, Methyl Carbamates, Organophosphates and Others), by Crop Type (Cereals and Grains, Oilseeds & Pulses, Fruits & Vegetables and Others): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”. According to the report, global insecticides market was valued at USD 2.63 billion in 2015, is expected to reach USD 3.48 billion in 2021 and is anticipated to grow at a CAGR of 4.8% between 2016 and 2021.

Insecticides are pesticides that are prepared to kill or harm one or more species of insects. Insecticides work in various ways to destroy insects or pests. Some insecticides damage the exoskeletons, whereas others interrupt the nervous system of insects. Insecticides can be packed in different forms such as sprays, dust, bits, and gels. Broad-spectrum insecticides are effective against various types of insects, even the good ones. Some insecticides work instantly to destroy insects while others may require time to show their effect against the pest.

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Growing concerns of insect transferable diseases and increasing commercial pest management service industry are some of the major drivers of the insecticides market.Worldwide increasing food demand due to growing population is one of the major factors which fuel the market growth. Reducing per capita farmland owing to industrialization and rising urbanization is further driving the insecticides market.

Demand for insecticides has been soaring steadily owing to the increasing need for better crop production and rising threat of pest invasion. Bio-pesticides are expected to provide huge opportunities in this market. Furthermore, rising demand for home and garden insect control is anticipated to be the major factor for market growth in near future.

Based on the product of insecticide, the market is segmented into categories such as pyrethroids, neonicotinoids, methyl carbamates, organophosphates and others. Among all, the organophosphate was leading segment and accounted for 50% share of entire insecticide market in 2015. On the basis of crop type, the global insecticide market segmented into cereals and grains, oilseeds & pulses, fruits & vegetables and others. Cereals and grains were one of the leading types segments of global insecticide market and accounted for significant share of the total revenue generated in 2015.

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Asia pacific dominated the insecticide market and accounted for more than 40% share of the global market in 2015. Insecticides are widely utilized to control insects in Asia Pacific, as it is a tropical region that offers the favorable climate for insect growth. Asia pacific was followed by North America and Europe in terms of overall revenue generated. Latin America and the Middle East & Africa are also expected to experience decent growth for insecticide market within the forecast period.

Adama Agricultural Solutions Ltd, BASF SE, Bayer Cropscience AG, DuPont, FMC Corporation, Cheminova AS, DOW Agroscience LLC, and Syngenta AG are some of the leading producers in the insecticide market.

The report segments the global insecticides market as:

Global Insecticides Market: Product Segment Analysis

  • Pyrethroids
  • Neonicotinoids
  • Methyl Carbamates
  • Organophosphates
  • Others

Global Insecticides Market: Crop Type Segment Analysis

  • Cereals and grains
  • Oilseeds & pulses
  • Fruits & vegetables
  • Others

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