Press release
Insecticides Market Buzzing with Strong Growth: Anticipates $33.26 Billion by 2028
Insecticides Market
The insecticides market has witnessed robust growth, surging from $21.74 billion in 2023 to a projected $23.66 billion in 2024, boasting a remarkable Compound Annual Growth Rate (CAGR) of 8.8%. The momentum is expected to continue, reaching an estimated $33.26 billion in 2028, reflecting a CAGR of 8.9%.
Growing World Population Fuels Demand For Insecticides And Agrochemicals
The surge in the world population, projected to reach 10 billion by 2050, is set to significantly drive the insecticide market. The escalating demand for food necessitates increased crop production, farming activities, and trade volumes. Farmers, responding to this demand, are acquiring arable land and incorporating advanced technologies, thereby propelling the insecticide market's growth. The rise in food demand, expected to increase from 59% to 98%, underscores the pivotal role of insecticides in boosting agricultural productivity.
Escalating Crop Losses Fuel Growth In The Insecticides Market
Anticipated growth in the insecticides market is further fueled by rising crop losses resulting from various factors such as natural disasters, pests, diseases, adverse weather conditions, and other unfavorable events. The need for pest control to safeguard crops against threats becomes crucial, leading to increased usage of insecticides. A report by the Food and Agriculture Organization revealed that up to 40% of the world's food yield was lost to pests each year, highlighting the importance of insecticides in mitigating crop losses.
Explore the Global Insecticides Market with a Detailed Sample Report:
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BASF Launches Exponus Insecticide To Empower Indian Farmers And Promote Sustainable Agriculture
Major companies are actively contributing to market dynamics through product launches. BASF SE, a leading chemicals company, introduced Exponus insecticide in India, a powerful and versatile solution for Indian farmers. This low-use insecticide not only aids in effective pest control but also reduces the environmental impact of crop protection practices. It aligns with the industry's commitment to sustainable agriculture, offering farmers a tool to enhance crop protection, reduce costs, and promote environmental stewardship.
Innovative Insecticides Transforming Pest Management For Farmers
Product innovation remains a key focus for major companies in the insecticides market. Innovations such as liquid multi-insecticide are designed to assist farmers in managing pests effectively. Bayer AG's Vayego 200SC, belonging to the diamide class, stands out as a new-generation insecticide with comprehensive control against caterpillar pests. Its versatility, low toxicity to mammals and beneficial insects, and environmentally friendly profile make it a valuable addition for farmers.
Regional Insights and Market Segments
Asia-Pacific takes the lead as the largest region in the insecticides market, closely followed by South America as the second-largest region.
The insecticides market covered in this report is segmented -
1) By Type: Synthetic Insecticides, Bio-insecticides
3) By Form: Sprays, Baits, Strips
2) By Application: Cereals and Grains, Oilseeds & Pulses, Fruits & Vegetables, Other Applications
Access the Complete Report for In-Depth Analysis:
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Insecticides Global Market Report 2024 from TBRC covers the following information:
Market size date for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Insecticides Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on insecticides market size, insecticides market drivers and trends, insecticides market major players, competitors' revenues, insecticides market positioning, and insecticides market growth across geographies. The insecticides market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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