Global Insecticides Market: Snapshot
Insecticide is one of the most important pesticide. Demand for insecticides is rising constantly owing to high crop losses from insects. Synthetic insecticides such as organophosphates, carbamates, pyrethroids & pyrethrines are highly toxic to insects. Thus, demand for these segments is expected to be high during the forecast period. High performance organophosphates, habitat fragmentation, and insect prone climate conditions in some regions are driving the insecticides market. Due to rising early age health concerns, the trend is shifting towards consumption of natural food products including fruits & vegetables. Thus, the insecticides market is projected to expand at a rapid pace to reduce fruit & vegetable crop damage from insects. However, over the years, some insects have evolved resistance to synthetic insecticides. This adaption by insecticides may restrain the insecticides market.
Organophosphates to Hold Dominance Among Products Categories with Leading Market Share
Organophosphates segment held nearly 44% market share in the global insecticides market in 2016. Organophosphate attack on nervous system of the target insect. The products are also responsible for twitching of muscles of insects. The market share of organochlorines is expected to decline by 2025 due to several bans on organochloride products owing to stringent regulations. Carbamates segment is anticipated to witness highest CAGR of 5.4% and 5.7% by volume and value respectively, during the forecast period. Fast action of carbamates compared to organophosphates is anticipated to increase demand for carbamates in the near future. Pyrethrines & pyrethroids, the new generation insecticides have rapid knockdown against flying insects. The products are less toxic to mammals and the environment, compared to other types of insecticides. Rapid degradation, shorter half- life, and broad spectrum of insect control of pyrethrines & pyrethroids are expected to offer lucrative opportunities to the segment during the forecast period. Demand for the segment is rising in Middle East & Africa. Others segment include fipronils, nionicotinoids, bioinsecticides, and others. Consumer awareness regarding harmful effects of synthetic chemicals & materials to human health and the environment is expected to offer lucrative opportunities for bio- based insecticides. The bio-based insecticides include insect growth regulators, enzymes & hormones, neem oil, and more.
Fruits & vegetables crops are estimated to account for higher market share owing to its susceptibility to insects. The segment can witness crop damage as high as 50% due to insects. Demand for insecticides for fruits & vegetables is rising. Cereals & grains segment is anticipated to grow at a rapid pace followed by oilseeds & pulses. Others segment is expected to witness high growth in North America and Europe owing to rapid growth of turfs, lawns, and other garden plants.
Demand from Asia Pacific to Remain High Through Forecast Period
Asia Pacific is estimated to hold higher market share during the forecast region, in terms of both volume, and revenue. Wide variation of climate, and high plant diversity calls for different types of insects. Higher arable land, tropical climate, and agriculture- base economies of some countries in the region are anticipated to boost the insecticides market in the near future. Demand for organophosphates, and carbamates is high in Asia Pacific. However, due to high cost of pyrethrines & pyrethroids, the segment is anticipated to constitute low market share in the region during the forecast region. Latin America is anticipated to offer lucrative opportunities for insecticides market owing to insect prone wet and humid weather in some part of the region. Demand for insecticides is expected to rise in North America, and Europe at a moderate pace during the forecast period. However, the market share of North America, and Europe is estimated to decline in the global insecticides market by 2025. Middle East & Africa held lower share of insecticides market in 2016. However, the insecticides market in the region is estimated to grow at a rapid pace in the near future.
Some of the key players in the insecticides market include Bayer AG, BASF SE, DowDuPont Inc., Monsanto Company, Syngenta International AG, FMC Corporation, Nufarm Ltd, and PI Industries.
Global Insecticides Market – Overview
Insecticides are primarily employed in agriculture industry. Asia Pacific accounted for the major share of the global insecticides market, in terms of both revenue and volume, in 2016. Insecticides such as organophosphates, carbamates, pyrethrines & pyrethroids are used to combat insects damaging fruits & vegetables, cereals & grains, and oilseeds & pulses. Organophosphates are estimated to offer lucrative opportunities in the insecticides market in the near future. Fruits & vegetables are anticipated to account for higher market share during the forecast region.
This study analyzes, estimates, and forecasts the global insecticides market in terms of volume (m3) and revenue (US$ Mn) from 2016 to 2025. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period. The report provides a detailed view of the insecticides market based on products, and crops. Key products included in the report are organochlorides, organophosphates, pyrethrines & pyrethroids, and others. Key crops included in the report are oilseeds & pulses, cereals & grains, fruits & vegetables, and others. Furthermore, the report segments the market based on key geographies such as North America (the U.S., Canada), Europe (France, Germany, Italy, U.K, Spain, Rest of Europe), Asia Pacific (China, India, Japan, ASEAN, Rest of Asia Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and Middle East and Africa (GCC, South Africa, Rest of Middle East & Africa). The insecticides market is further analyzed into major countries of each region. It also provides market volume and revenue for each product, and crop at country level.
Global Insecticides Market: Key Segments
Based on products, crops, and countries, the report analyzes the attractiveness of each segment with the help of an attractiveness tool. The study includes value chain analysis, which provides a better understanding of key players in the supply chain (from raw material manufacturers to end-users). Additionally, the study analyzes market competition and industry players using Porter’s five forces analysis.
The report includes an overview of the market share of key companies in the global Insecticides market. Some of the key players in the Insecticides market include Bayer AG, BASF SE, DowDuPont Inc., Monsanto Company, Syngenta International AG, FMC Corporation, Nufarm Ltd, and PI Industries.
Primary research represents the bulk of our research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases. Other sources include national government documents, statistical databases, and market reports, news articles, and press releases and webcasts specific to the companies operating in the market. Secondary sources referred for the study of the Insecticides market include United States Environmental Protection Agency, National Pesticide Information Center, Crop Protection Monthly magazine, company presentations, etc.
The report segments the global Insecticides market into:
- Insecticides Market – By Product
- Pyrethrine & Pyrethroid
- Insecticides Market – By Crop
- Oilseeds & Pulses
- Cereals & Grains
- Fruits & Vegetables
- Insecticides Market – Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- North America