Global Insecticides Market Size To Grow USD 21.6 Billion By 2030 | CAGR of 4.9%
The Global Insecticides Market was valued at USD 13.80 Billion in 2021 and the Insecticides Market is expected to reach USD 21.60 Billion by 2030, according to a research report published by Spherical Insights & Consulting. Companies Covered: Adama Agricultural Solutions Ltd, American Vanguard Corporation, BASF SE, Bayer CropScience AG,Corteva Agriscience,FMC Corporation, Isagro SPA, Nufarm Ltd, Syngenta AG, Sumitomo Chemical Co. Ltd, UPL Limited, Cheminova A/S, Bioworks, Inc., AMVAC Chemical Corp and Among Other.
New York, United States , March 27, 2023 (GLOBE NEWSWIRE) — The Global Insecticides Market Size to grow from USD 13.80 billion in 2021 to USD 21.60 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period. The Asia Pacific region’s climatic conditions that allow for the production of a wide range of crops. The increase in the number of resistant pests, rising food demand, and the need for increased agricultural productivity are the major factors driving the Asia-Pacific insecticide market.
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Insecticides are substances that are used to kill insects and it has numerous applications in medicine, agriculture, and industry. They have the potential to significantly alter ecosystem components and are toxic to both animals and humans. Insecticides are widely used in agricultural applications around the world to protect crops from insect attack. Insecticides are used in various applications, including vegetables, fruits, grains, and cereals, and oilseeds and pulses, which are expected to provide significant growth opportunities for the global market. There are various types of insecticide solutions available on the market, such as systematic insecticides, biological insecticides, and others that are useful for pest and crop preservation. The rapid growth of the world’s population, increased agricultural production to meet rising food demand, and advancements in farming techniques and technologies are the factors driving market growth over the forecast period. Agrochemicals such as insecticides, fungicides, and herbicides, among others, contribute to increased crop productivity. Agriculture is a diverse industry that includes everything from small farms to large multinational corporations. Insecticide consumption has increased due to the rapid use of agricultural activities in response to the growing population’s demand for food products. Insecticides help to reduce crop loss by removing insects’ unfavourable effects. Continues research to develop new product varieties, increase product releases, and increase operational company revenues, all of which benefit the global insecticides industry. However, many insecticides can poison people if they are inhaled, swallowed, or absorbed through the skin. Symptoms may include eye tearing, coughing, heart problems, and breathing difficulties, necessitating proper handling and safety practises, and limiting the acceptability of insecticides for residential use.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on “Global Insecticides Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Organophosphates, Pyrethroids, Carbamates, Others) By Origin (Synthetic Insecticides, Bio-Insecticides, Others), By Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), By Insect Pest Type (Sucking Pest Insecticides, Biting and chewing pest insecticides), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.” Get Detailed Report Description Here:
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The organophosphate segment dominated the insecticides market.
Based on the product, the global insecticides market is segmented into organophosphates, pyrethroids, carbamates, and others. Among these, the organophosphate segment held the largest insecticides market share in 2021. One of the most versatile classes of synthetic insecticides is organophosphate. Organophosphate is primarily composed of diazinon, malathion, dichlorvos, parathion, and methyl parathion. This insecticide is absorbed through the roots and can be applied by impregnating the soil with it or spraying it on the leaves. These are found in agriculture, gardens, and homes. As a result, increased demand for organophosphate in a variety of applications is driving the market growth.
The cereals & grains application segment dominated the global market.
Based on the application, the global insecticides market is differentiated into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others. Among these, the cereals & grains application segment dominated the global market. Its high share is due to rising consumption of cereals and grains such as wheat, oats, corn, rice, and barley, which have nutritional benefits. As cereal distribution and production grow, it’s crucial for farmers to concentrate on quality and output by employing the right pesticides.
The synthetic insecticide segment is dominating the market over the forecast period.
On the basis of origin, the global insecticides market is segmented into synthetic insecticides, bio-insecticides, and others. Among these, the synthetic insecticide segment is dominant over other product types of insecticides because of the increasing population, rising food consumption, shrinking farmland, and crop loss due to insects and pathogens are all major drivers driving the global market for synthetic insecticides.
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The sucking pest insecticide segment dominating the market over the forecast period.
On the basis of insect pest type, the global insecticides market is segmented into sucking pest insecticide, and biting and chewing pest insecticide. Among these, the sucking pest insecticide segment contributed the most to the market because sucking pest insecticide is widely used to control aphids, thrips, and other sucking pests. When compared to other methods, it is more effective and faster.
Asia Pacific holds the largest market share over the projected period.
The Asia-Pacific insecticides market is expected to expand in the predicted period. The Asia Pacific region’s growth is due to its wide climatic variations and high degree of plant diversity. As a result, insecticides are widely used throughout the region. The increased demand for insecticides in the agriculture sector, which includes fruits and vegetables, cereals and grains, oilseeds and pulses, and other commercial applications, is attributed to the growth. Developing countries such as China, India, Malaysia, and Indonesia, among others, are major contributors to market growth. Increased demand for organic food, population growth, and agricultural output in the region are all driving up demand for insecticides. North America is anticipated to be the fastest growing region throughout the projected period due to an increase in agricultural activities as the region is experiencing a rise in the demand for food.
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Insecticides Market include Adama Agricultural Solutions Ltd, American Vanguard Corporation, BASF SE, Bayer CropScience AG, Corteva Agriscience, FMC Corporation, Isagro SPA, Nufarm Ltd, Syngenta AG, Sumitomo Chemical Co. Ltd, UPL Limited, Cheminova A/S, Bioworks, Inc., AMVAC Chemical Corp and Others.
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