Press release
Insecticides Market Set to Reach $151.08 Billion by 2029 with 4.5% Yearly Growth
Insecticides Market Size
Over the past few years, the size of the insecticides market has seen significant growth. The market is projected to expand from $24.23 billion in 2024 to $26.63 billion in 2025, at a compound annual growth rate (CAGR) of 9.9%. Factors that contributed to the growth during the historical period include public health concerns, advancements in technology, the availability of antiviral drugs, and readiness for pandemics.
In the upcoming years, a significant expansion is anticipated in the insecticides market, with a rise to $36.49 billion by 2029, reflecting a compound annual growth rate (CAGR) of 8.2%. Persistent seasonal flu, point-of-care testing, remote and home-based testing, along with the integration of digital health, are driving this growth in the predicted period. Notable trends for this forecast period encompass point-of-care testing, molecular diagnostics, antigen-based tests, multiplex assays, and the incorporation of automation and robotics.
What Are the Forces Behind the Rapid Growth of the Insecticides Market?
The insecticide market is predicted to experience substantial growth due to the anticipated surge in the world population, projected to reach 10 billion by 2050. This rise in population will necessitate a higher demand for food, therefore increasing crop production, farming activities, and trade. Acquiring additional arable land will likely be required of farmers and commercial farming corporations in order to meet increased crop production needs, this is likely to escalate the demand for herbicides. To accommodate for an increase in food demand, which can potentially rise between 59% and 98%, the need for heightened agricultural productivity will also increase, necessitating the use of fertilizers and advanced farming technologies. Consequently, the growth in food demand due to the growing population will spur the advancement of the insecticide market.
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Who Are the Dominant Companies Influencing Insecticides Market Trends?
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.
How Is the Insecticides Market Evolving?
Prominent organizations within the insecticides market are concentrating on the introduction of new products, such as the Exponus insecticide, to aid Indian farmers in guarding their crops against significant insect infestations. Exponus is a potent and adaptable insecticide capable of managing a broad spectrum of insect pests in various crops and phases. For instance, in April 2022, BASF SE, a chemical firm based in Germany, brought Exponus insecticide to the Indian market to assist Indian farmers in safeguarding their crops from crucial insect pests, thereby enhancing their productivity. Exponus is recognized as a low-use insecticide, indicating that farmers can utilize lesser quantities to accomplish effective pest control, thereby minimizing the environmental burden of crop protection practices. Furthermore, being potent, rapid, and versatile, this insecticide can aid farmers in enhancing crop protection, curtailing expenses, and realizing sustainable agriculture.
What Are the Different Segmentations in the Insecticides Market?
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 And Pulses, Fruits And Vegetables, Other Applications
Subsegments:
1) By Synthetic Insecticides: Organophosphates, Carbamates, Pyrethroids, Neonicotinoids, Insect Growth Regulators (IGRs), Other Synthetic Insecticides
2) By Bio-insecticides: Microbial Insecticides (Bacillus Thuringiensis), Botanical Insecticides (Neem, Pyrethrum), Biochemical Insecticides (Pheromones, Growth Regulators), Other Bio-insecticides
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Which Region Is at the Forefront of the Insecticides Market?
Asia-Pacific was the largest region in the insecticides market in 2023. South America was the second-largest region in the global insecticides market. The regions covered in the insecticides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Is Covered In The Insecticides Global Market Report?
- Market Size Analysis: Analyze the Insecticides Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Insecticides Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Insecticides Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Insecticides Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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