Press release
Insecticides Market Projected to Reach USD 15.50 Billion by 2034, Expanding at a CAGR of 4.6%
The global insecticides market size was valued at USD 9.91 billion in 2024. It is anticipated to generate an estimated revenue of USD 15.50 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust compound annual growth rate (CAGR) of 4.6% over the forecasted timeframe of 2025-2034.
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Market Introduction
Insecticides are substances, either chemical compounds or naturally derived biological agents, used to prevent, control, or eliminate insect pests that threaten crops, stored products, and public health. They target various stages of insect life cycles to reduce damage to plant foliage, roots, stems, and fruits, thereby protecting crop yield and quality. Insecticides play a critical role in modern agriculture by safeguarding plants from insect infestations that can cause significant economic losses and impact food security.
There are several types of insecticides based on their origin and mode of action, including synthetic chemical insecticides, botanical insecticides derived from plants, and microbial insecticides that use bacteria or viruses to target pests. In addition to conventional farming, insecticides approved for use in organic agriculture help maintain crop protection while minimizing environmental impact and ensuring compliance with organic standards.
Market Drivers
Growing Global Population: The growing global population demands a significant increase in agricultural output, driving market growth. Intensive farming practices, characterized by monoculture and dense planting, create favorable conditions for pest outbreaks, increasing the need for insecticides to protect crop yields and propelling the insecticides market forward.
Rising Prevalence of Vector-Borne Illnesses: The rising prevalence of vector-borne diseases such as malaria, dengue fever, and Zika virus has increased the need for effective vector control measures, primarily through the use of insecticides. Government health agencies and research institutions are actively engaged in developing and implementing insecticide-based strategies to reduce the spread of these diseases.
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Competitive Landscape
The industry has witnessed significant mergers and acquisitions, particularly among leading players aiming to consolidate their market position. Some of the companies currently dominating the market include:
ADAMA Ltd. (ChemChina)
BASF SE
Bayer AG
Corteva Agriscience
FMC Corporation
Nippon Soda Co., Ltd.
Nufarm Limited
Sumitomo Chemical Co., Ltd.
Syngenta (ChemChina)
United Phosphorus Limited (UPL)
Valent BioSciences LLC (Sumitomo Chemical)
Segmental Outlook
By Application Outlook (Revenue - USD Billion, 2020-2034)
Agriculture
Industrial
Household
Commercial
Others
By Product Outlook (Revenue - USD Billion, 2020-2034)
Organochlorine
Organophosphate
Organosulfur
Carbamates
Formamidines
Dinitrophenols
Pyrethroids
Neonicotinoids
Others
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Regional Perspective
Asia Pacific holds the largest market share owing to the region's sizeable agricultural sector and Asia Pacific crop protection chemicals demands, which play an important role in worldwide food production.
Latin America is experiencing the highest growth rate due to its proliferating agriculture industry, which is portrayed by the rearing of superior crops and the growing adoption of progressive farming technologies.
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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