USD 14.1 billion
Report ID: SQSG15C2010 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 201 | Figures: 70
Insecticides Market was valued at USD 14.1 billion in 2021, and it is expected to reach a value of USD 19.84 billion by 2028, at a CAGR of 5% over the forecast period (2022-2028).
Pesticides used to destroy insects that harm crops are referred to as insecticides. There are different types of insecticides available in the market, including organic insecticide, inorganic insecticide, repellants, and non-repellents. These insecticide products are widely utilised in home, industrial, medical, and agricultural purposes.
One of the key factors fueling the expansion of the insecticides market is the growing need to meet customers’ rising food demand as a result of the world's growing population. The need to ensure food quality in the agricultural sector, expanding regulatory interventions for safe farming practices and farming culture, and the need for increased food security all contribute to the market expansion for pesticides. The insecticides market is also influenced by an increase in the usage of pesticides to boost crop production and quality while decreasing losses brought on by insects.
The insecticides market is positively impacted by factors such declining arable land, adoption of modern farming methods, improved agrochemical goods, developing technology, and high returns on investment. Additionally, the penetration of integrated pest management, increasing demand in developing countries, and research and development initiatives to launch new products provide profitable prospects to the insecticides market players throughout the projection period.
US Insecticides Market is poised to grow at a sustainable CAGR for the next forcast year.
Global Market Size
USD 14.1 billion
Oilseeds & pulses
Cereals & Grains
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Global Insecticides Market is segmented based on the type, crop type, formulation, form, origin, application, insect pest type, and region. Based on the type, the Global Insecticides Market is segmented into Pyrethroids, Organophosphorus, Carbamates, Organochlorine, Botanicals. Based on the crop type, the Insecticides Market has been segmented into Cereals & grains, Oilseeds & pulses, Fruits & vegetables. Based on formulation, the Insecticides Market has been segmented into Wettable powder, Emulsifiable concentrate, Suspension concentrate, Oil emulsion in water, Microencapsulated suspension, Granules. Based on origin, the Insecticides Market is segmented into Synthetic pesticide and bioinsecticide. Based on application, the Insecticides Market is segmented into Grains and Cereals, Pulses and Oilseeds, Commercial Crops, Fruits and Vegetables, Turf and Ornamental. Based on insect pest type, the Insecticides Market is segmented into Sucking Pest Insecticide and Biting and Chewing Pest Insecticide. Based on form the Insecticides Market is segmented as Sprays, Baits and Strips. Based on Region, Insecticides Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Insecticides Market Analysis by Crop Type
The cereals & grains segment dominated the insecticides market in 2021. Since cereals are grown in nearly every nation, there is a strong need for pesticides worldwide, and this trend is anticipated to continue during the projection period. Global grain output has been rising, and as a result, it is now more crucial than ever for growers to concentrate on the yield and quality of their crops by utilising efficient pesticides. Due to their high vitamin and mineral content and extensive use in animal feed, cereals and grains are experiencing development in the market.
Insecticides Market Analysis by Formulation
Emulsifiable concentrate segment dominated the insecticides market in terms of formulation in 2021. An oil-soluble liquid active component, one or more petroleum-based solvents, and a mixing agent are typically present in an emulsifiable concentrate formulation. The fact that emulsifiable concentrates can be employed in both agricultural and non-agricultural uses makes them a popular pesticide formulation utilised all over the world. They can be adjusted to use with hydraulic spraying machines as well as portable sprayers. Emulsifiable concentrates dominate the pesticides market since they are often simpler to use for spraying broad areas.
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Asia Pacific region dominated the global market in 2021 and also it is faster growing region, due to rising agricultural activity in developing nations like China and India. Due to the country’s extensive production of agricultural products including cotton, sugarcane, and cotton, India is expected to experience tremendous growth. Over the course of the forecast period, the insecticides market is projected to be driven by increased food demand and an ageing population.
The production of genetically modified (GM) crops is expected to increase, which will result in a decline in North America and Europe. Since these crops are resistant to pests, insecticides are needed in less quantity and volume. Over the forecast period, this is likely to slow growth of the Global Insecticides Market in these regions.
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Insecticides Market Driver
High-yield seed varieties, sophisticated irrigation techniques, and agricultural pesticides like insecticides are used to increase agricultural production. In the majority of nations, output and productivity have greatly increased. By minimising disease and insect losses that lower the amount of harvestable crop, insecticides have played a crucial role in the process.
Insecticides Market Restraint
Chemicals known as insecticides stop insects in their tracks throughout various phases of development. These control plant development in a variety of food crops. Insecticides have been linked to health and environmental problems, though. For instance, agricultural soil erosion makes it possible for insecticides to enter waterbodies, which in turn affects aquatic life. As a result, adverse environmental effects and strict government laws pertaining to the use of insecticides may restrains the market growth.
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Global Insecticides Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Insecticides Market Top Player's Company Profiles
Insecticides Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Insecticides Market analysis, among region Asia Pacific is expected to capture higher market share, the growth of the region is attributed to rising agricultural activity in developing nations. China and India has emerged as a significant contributor to market growth in Asia Pacific region. In terms crop type, the cereal and grains type segment dominates the insecticides market. This segment's leading position can be attributed to their high vitamin and mineral content and extensive use in animal feed. In terms of formulation, the Emulsifiable concentrate led the market and is predicted to grow at the fastest rate.
|Market size value in 2021||USD 14.1 billion|
|Market size value in 2028||USD 19.84 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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For the Global Insecticides Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Insecticides Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG15C2010