Insecticides Market to Grow with a CAGR of 4.82% through 2028
Rising demand for pest control in agriculture is expected
to drive the Global Insecticides Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “Insecticides
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Insecticides Market stood at USD 9.45 billion in 2022 and is anticipated to grow with a CAGR of 2.76% in the forecast
period, 2024-2028. The global insecticides market is experiencing significant
growth, driven by a multitude of factors that reflect the critical role this
industry plays in safeguarding agricultural productivity, public health, and
ecosystems. Insecticides are chemical or biological agents designed to control
and manage insect pests that pose threats to crops, human health, and the
environment. One of the primary drivers of the global insecticides market is the
relentless growth of the world's population. As the global populace continues
to expand, the demand for food also rises exponentially. Insect pests are a
major threat to agricultural crops, causing significant losses if left
unmanaged. Insecticides play a vital role in ensuring food security by
protecting crops from destructive pests, thereby contributing to increased
agricultural productivity to meet the dietary needs of a growing population.
Beyond agriculture, insecticides also have a crucial
role to play in safeguarding public health. The prevalence of insect-borne
diseases such as malaria, Zika virus, dengue fever, and Lyme disease remains a
global health concern. Insecticides are instrumental in controlling disease
vectors like mosquitoes and ticks, preventing the transmission of these
diseases to humans. As emerging diseases continue to pose threats, the demand
for insecticides in public health programs remains high. Concerns about the
environmental impact of chemical insecticides have led to a shift in consumer
preferences and regulatory actions. The indiscriminate use of chemical
insecticides has been linked to adverse effects on non-target organisms,
including beneficial insects like bees and butterflies, and the contamination
of water and soil. This awareness has driven the demand for eco-friendly and
sustainable pest control solutions, encouraging the development and adoption of
biological and organic insecticides.
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Integrated Pest Management (IPM) practices have gained
traction in agriculture and pest control. IPM emphasizes a holistic approach to
pest management, combining various strategies such as biological control, crop
rotation, and judicious insecticide use to minimize environmental impact. This
approach aligns with the growing emphasis on sustainable and responsible pest
control, influencing market trends and driving the development of innovative
insecticides. The Global Insecticides Market is segmented into Type, Application,
Regional Distribution, And Company. Based on the Type, Pyrethroids emerged
as the dominant segment in the global market for Global Insecticides Market in
2022. Pyrethroids
tend to degrade relatively quickly in the environment, which can be an
advantage in terms of reduced environmental persistence and lower residual
impacts compared to some older chemical classes like Organophosphates and
Chlorinated Hydrocarbons. Pyrethroids have been developed with various
formulations and modes of action, allowing for effective resistance management
strategies. Rotating or alternating between different classes of insecticides
can help delay the development of resistance in target pest populations. In
addition to agricultural use, Pyrethroids are widely used in public health
programs to control disease vectors like mosquitoes. They are used for treating
bed nets, indoor residual spraying, and mosquito repellents, contributing
significantly to global efforts to combat insect-borne diseases such as malaria
and Zika virus.
Pyrethroids are generally considered to
have lower toxicity to humans and animals compared to some other chemical
insecticide classes like Organophosphates and Carbamates. This characteristic
makes them a preferred choice for pest control in residential areas, public
spaces, and for personal protection against insect-borne diseases. Based on the Application, the Cereals and Grains
segment emerged as the dominant player in the global market for Global
Insecticides Market in 2022. Cereals and grains are economically significant crops
with a global market value in the billions of dollars. Protecting these crops
from insect damage is essential not only for food production but also for the
livelihoods of farmers and the agricultural industry as a whole. Cereals and
grains are often stored for extended periods before consumption or processing.
During storage, they are susceptible to infestations by storage pests like
weevils and beetles. Insecticides are used to protect stored grains and ensure
they remain free from infestations and contamination. Cereals and grains have a
global demand and are grown in various regions around the world. As a result,
insecticide use in this application is widespread and contributes significantly
to the overall demand for insecticides. The cereals and grains category often
requires a variety of insecticides with different modes of action to manage a
wide array of pests effectively. This diversity in insecticide selection
further drives demand within this application.
Asia-pacific emerged as the dominant player in the
global Insecticides Market in 2022, holding the largest market share. Many
countries in the Asia-Pacific region have tropical and subtropical climates
that are conducive to the proliferation of insect pests. These climates provide
an ideal environment for insects to thrive, making insecticides a crucial tool
for pest control. The region's rapidly growing population is driving an
increased demand for food. To meet this demand, there is a need for higher agricultural
productivity, which, in turn, requires effective pest management through the
use of insecticides. Several governments in the Asia-Pacific region provide
support to their agricultural sectors, including subsidies for pesticides,
which further fuels the demand for insecticides. The region boasts a diverse range
of crops, including rice, wheat, corn, cotton, and various fruits and
vegetables. With such a variety of crops, there is a correspondingly high
diversity of insect pests that need to be managed, leading to increased demand
for insecticides.
Major companies operating in Global Insecticides
Market are:
- Syngenta Group
- AMVAC Chemical Corp.
- UPL Ltd.
- Bayer AG
- BASF SE
- FMC Corp.
- Corteva Agriscience
- Nufarm Ltd.
- Bioworks, Inc.
- Mitsui Agriscience international
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“The Global
Insecticides Market is poised for substantial growth in the coming years.
Several key factors are driving this anticipated expansion. the global population
continues to grow, leading to increased food demand and the need for higher
agricultural productivity. Insecticides play a critical role in protecting
crops and ensuring food security, making them indispensable in modern
agriculture. Additionally, the rise of emerging economies, particularly in
Asia-Pacific, is driving agricultural intensification and the adoption of
advanced pest management techniques. This trend contributes significantly to
the demand for insecticides. Moreover, the growing awareness of the
environmental and health impacts of insecticides is spurring innovation in the
industry. This includes the development of safer, more targeted, and
environmentally friendly insecticides that align with sustainable farming
practices.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Insecticides Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type
(Pyrethroids, Organophosphates, Carbamates, Chlorinated Hydrocarbons,
Botanical, Others), By Application (cereals & Grains, Oilseeds &
Pulses, Fruits & Vegetables, Others) By Region and Competition”, has evaluated
the future growth potential of Global Insecticides Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Insecticides Market.
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