Press release
Insecticides Market Outlook, Critical Insights, Trends Analysis, Key Players And Forecast To 2033
Insecticides Market Trends
The insecticides market size is expected to see strong growth in the next few years. It will grow to $33.26 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to global population growth, climate change impact, integrated pest management (ipm), emerging pest threats. Major trends in the forecast period include sustainable insecticides, precision application technologies, biological pest control, residue and food safety.
Market Overview -
Insecticides are substances that are used to kill insects, including ovicides and larvicides, which are used for insect eggs and larvae, respectively, to control pests that affect cultivated crops. Insecticides work by either disrupting the nervous system or damaging exoskeletons.
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Growing World Population Fuels Demand For Insecticides And Agrochemicals
The world population is growing and is expected to reach 10 billion by 2050, which is expected to significantly boost the insecticide market. An increase in the population creates more demand for food. Crop production, farming activities, and trade volumes will have to increase to meet the increased population. Additionally, farmers and commercial farming companies will increase acquisitions of arable land to increase crop production, which is expected to increase the demand for herbicides. To meet the food demand that may rise from 59% to 98%, farmers have to increase agricultural productivity through fertilizers and advanced technologies in farming. Thus, the increase in demand for food for the growing population will promote the growth of the insecticide market.
Competitive Landscape -
Major companies operating in the insecticides market include Adama Agricultural Solutions Ltd., American Vanguard Corporation, BASF SE, Bayer CropScience AG, FMC Corporation, NuFarm Limited, Syngenta International AG, Sumitomo Chemical Co. Ltd., Monsanto Company, Arysta LifeScience Corporation, Syngenta AG, Corteva Inc., UPL Limited, Kumiai Chemical Industry Co. Ltd., Nissan Chemical Corporation, Isagro SpA, Albaugh LLC, Sinochem Corporation, Rotam CropSciences Ltd., Gharda Chemicals Limited, Meghmani Organics Ltd., PI Industries Ltd., Crystal Crop Protection Pvt. Ltd., Insecticides India Limited, Dhanuka Agritech Limited, Bharat Rasayan Ltd., Indofil Industries Limited, Meghmani Finechem Limited, Marrone Bio Innovations Inc., Certis USA LLC, Valent BioSciences LLC, BioWorks Inc., Gowan Company LLC, Sipcam Agro USA Inc., AMVAC Chemical Corporation, Nichino America Inc., OHP Inc.
Basf Launches Exponus Insecticide To Empower Indian Farmers And Promote Sustainable Agriculture
Major companies operating in the insecticides market are focusing on product launches, such as Exponus insecticide, to help Indian farmers protect their crops from key insect pests. Exponus is a powerful and versatile insecticide that can control a wide range of insect pests in different crops at different stages. For instance, in April 2022, BASF SE, a Germany-based chemicals company, launched Exponus insecticide in India to help Indian farmers protect their crops from key insect pests and boost their productivity. Exponus is a low-use insecticide, which means that farmers can apply lower doses to achieve effective pest control. This helps to reduce the environmental impact of crop protection practices. Moreover, it is a powerful, quick, and versatile insecticide that can help farmers improve crop protection, reduce costs, and achieve sustainable agriculture.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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