Global Insecticides Market Projected To Reach US$ 25,275 MN in 2027

The latest market report published by Credence Research, Inc. “Global Insecticides Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”. The Insecticides market was valued at USS 15,450 million in 2020 and expected to grow at a CAGR of 6.05% during the forecast period from 2021 to 2027 to reach around USD 25,275 million in 2027.

Global Insecticides Market, 2015 – 2027 (USD Million)

Insecticides Market

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Insecticides are natural or synthetic chemical compounds that are used to control insect infestation by killing them or averting them from fetching any unwanted or damaging activities on crops. Insecticides are primarily classified into five categories based on the mode of action (also called as active ingredient type): organochlorines, organophosphates, carbamates, pyrethrins & pyrethroids, and others.

Organochlorines mostly act on neurons, thereby hampering the nervous system of pests. Organophosphate insecticides cause quick damage to voluntary muscles and ultimately palsy in pests. Carbamates insecticides exhibit a broad spectrum toxicity and are often toxic for fishes and other aquatic animals. Pyrethrins & pyrethroids are newer generation insecticides that are highly effective against most agricultural insect pests, but extremely toxic to fish.

Key Trends in Global Insecticides Market

Stringent Regulations On Use of Synthetic Insecticides

Global demand for synthetic insecticides is declining due to the enactment of regulations on the use of toxic chemicals on crops by various government bodies. However, synthetic insecticides are still preferred for crop protection among farmers cultivating crops in tropical regions such as South Africa, Latin America, Southeast Asia, and Pacific Islands. Organic and naturally derived insecticides such as neem, biological microorganisms, nematodes, and botanical extracts are expected to gain interest among cultivators in the near future.

The biological activity of an insecticide is determined by the composition of active ingredients (a.i.). Furthermore, an insecticide used on the crops is usually in the form of a formulation that contains active ingredient and inert ingredients. Inert ingredients facilitate the Crop of the active ingredients. These inert ingredients are usually solvents, carriers, or adjuvants.

Impact of COVID 19 on Global Insecticides Market

COVID 19 has left an unparalleled impact on growth of global Insecticides industry. The global Insecticides has witnessed very severe setback like never before. The demand for Insecticides is expected to be plunged by almost 20% in 2020, in terms of both volume as well as revenue. However, with the beginning of unlock process across the world and anticipation of COVID 19 vaccine to be launched during first half of 2020 is expected to bring recovery in demand for Insecticides.

Pre and Post COVID 19 Global Insecticides Market, 2019 – 2027 (USD Million)

Insecticides Market

Global Insecticides Market by Source Insights

Based on its source, the global Insecticides market can be segmented into Natural and Synthetic. Synthetic insecticides dominated the global market with over 80% share in 2020. Synthetic insecticides are growing demand owing to vast availability and low cost as compare to natural insecticides.

Global Insecticides Market by Crop Insights

Based on its application, the global Insecticides market can be segmented into Cereals & grains, Oilseeds & pulses, Fruits & vegetables and Other crop types. Cereals & grains accounted for over 35% share in 2020. Cereals & grains are widely produced around the world and accounted for major source of food for human as well as animals. With ever increasing population, the demand for cereals & grains is growing at a rapid pace. This in turn driving the demand for insecticides around the world.

Global Insecticides Market by Form Insights

Based on its form, the global Insecticides market can be segmented into Dry and Liquid. Liquid segment accounted for over 80% share in total insecticides consumed around the world. Liquid form of insecticide is easy to apply and have proved to be effective in eradication of insects efficiently. They can be easily sprayed over crops.

Global Insecticides Market by Type Insights

Based on its type, the global Insecticides market can be segmented into Pyrethroids, Organophosphorus, Carbamates, Organochlorine, Botanicals and Other. Organophosphorus accounted for over 40% share in 2020. Organophosphorus insecticides are widely used to kill host of insects.

Global Insecticides Market by Regional Insights

Asia Pacific accounted for largest share in 2020 and was followed by the Europe and North America. The need for better crop yield is rising constantly due to population growth. This is one of the key drivers of the insecticides market. Global population rose to reach 7.5 billion in 2020. The global arable land area expanded by just 3.65% from 1.37 billion hectare in 2010 to 1.5 billion hectares in 2019. This has boosted the demand for better crop protection techniques. This, in turn, would improve yield and result in achievement of food security. Inadequate arable land has put pressure on farmers to increase their yield. According to the World Bank, farmers may have to increase their yield by 60% per hectare by 2050. This can be achieved by efficient use of current arable lands and increased yield growth rate through best crop management practices. Most studies indicate that corrective usage of crop protection chemicals such as insecticides can significantly increase the yield. Insect pests inflict damage to humans, farm animals, and crops to a large extent, particularly in tropics and sub-tropics, where the climate provides highly favorable environment for a wide range of insects. Efforts need to be undertaken to suppress the population density of insects in order to achieve an adequate supply of food. Furthermore, various governments are promoting the use of insecticides to secure food supply for their citizens. Thus, demand for insecticides is expected to rise in the near future.

Global Insecticides Market Competitive Landscape

Key players operating in the field of manufacturing Insecticides including but not limited to BASF SE, Bayer AG, DowDuPont (Corteva), FMC Corp., Syngenta AG, Adama Agriculture, UPL Ltd., AMVAC, NuFarm Ltd., Sumitomo Chemical and Others. Top six companies dominated the global insecticides market. Global insecticides market is highly concentrated with over 45% share occupied by Bayer AG, DowDuPont, FMC Corp. and Syngenta AG.

Global Insecticides Market, Company Share 2020

Insecticides Market

Market Segmentation

Global Insecticides Market by Source, 2015 – 2027

·       Natural

·       Synthetic

Global Insecticides Market by Crop, 2015 – 2027

·       Cereals & grains

·       Oilseeds & pulses

·       Fruits & vegetables

·       Other crop types

Global Insecticides Market by Form, 2015 – 2027

·       Dry

·       Liquid

Global Insecticides Market by Automation, 2015 – 2027

·       Monoblock

·       Duoblock

Global Insecticides Market by Operating Temperature, 2015 – 2027

·       Pyrethroids

·       Organophosphorus

·       Carbamates

·       Organochlorine

·       Botanicals

·       Other

Global Insecticides Market by Region, 2015 – 2027

·       North America

·       Europe

·       Asia Pacific

·       Latin America

·       Middle East and Africa

Global Insecticides Market: Key Players

·       BASF SE

·       Bayer AG

·       DowDuPont (Corteva)

·       FMC Corp.

·       Syngenta AG

·       Adama Agriculture

·       UPL Ltd.

·       AMVAC

·       NuFarm Ltd.

·       Sumitomo Chemical

.       Others