Insecticides Market size is estimated to reach US$27.0 billion by 2027 after growing at a CAGR of 4.6% during 2022-2027. Insecticides are substances which are used to control insects by preventing or killing them to control pests which infect cultivated plants. Insecticides enables to eliminate the diseases carrying insects. Insecticides are useful on the range of crops such as corn, sorghum, sunflower, wheat, cotton, soybean, and grapes including many others. Thus, the increase in utilization of insecticides in range of crops is boosting the insecticide market growth. The Insecticides Market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
The top 5 players in the Insecticides Industry are –
1. BASF SE
2. Bayer Cropscience
3. FMC Corporation
4. Corteva Agriscience
5. Nufarm Limited
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Segmental Analysis :
1. The organophosphate segment held the largest insecticides market share in 2021, with a share of over 25%. Organophosphate is considered as one of the most versatile classes of synthetic insecticides. The major compounds used in organophosphate are malathion, parathion, methyl parathion, diazinon, and dichlorvos.
2. The agriculture segment is expected to grow at the fastest CAGR of 5.7% during the forecast period in the global insecticides market. Insecticides are mainly used in agriculture across infected crops. These are considered as one of the major factors for the growth in agricultural productivity.
3. The Asia Pacific held the largest insecticides market share in 2021 and is projected to grow with a CAGR of 5.2% during the forecast period. This growth is mainly attributed to the increase in demand for insecticides in several applications, especially in agriculture including fruits, vegetables, cereals and grains, and oilseeds, pulses.
Organochlorine, Organophosphate, Organosulfur, Carbamates, Formamidines, Dinitrophenols, Pyrethroids, Neonicotinoids
Systemic Insecticide, Ingested Insecticide, and Contact Insecticide
By Packaging Type
Pouch, Can, Bottle, Drum
Agriculture (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), Industrial, Household, Commercial (Schools, Restaurants, Warehouses, Offices, and Others)l
North America, Europe, Asia-Pacific, South America and Rest of World
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Market Drivers and Challenges :
1. The several types of agrochemicals such as insecticides, herbicides, and fungicides including others help to increase the productivity of the crops. Agriculture is highly diverse sector comprising of operations from small farms to large multinational holdings.
2. According to the National Horticulture Database published by National Horticulture Board, the fruits production of India stood at 99.07 million metric tonnes during 2019-20 and accounted for 6.66 million hectares area under cultivation of fruits. Thus, an increase in demand for agrochemicals is boosting the growth of global Insecticides market.
3. Changing climatic conditions, spread of crop diseases, and new plant-breeding techniques require effective fertilizer and agricultural chemical solutions, in turn, is increasing the demand for insecticides. Thus, the growth in agricultural output driving the growth of global insecticides market.
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A. Pesticide Intermediate Market
B. Fungicide Market
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