Insecticides Market Share, Size, Trends, Industry Analysis Report, By Product (Organophosphate, Organochlorine); By Application; By Region; Segment Forecast, 2023 - 2032
- Published Date:May-2023
- Pages: 118
- Format: PDF
- Report ID: PM3265
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global insecticides market was valued at USD 9.12 billion in 2022 and is expected to grow at a CAGR of 4.7% during the forecast period. The development of generic products has been a component of contemporary harvest security businesses, rather than reducing incomes of agrochemicals that were tracked down through research & development activities and afterward protected. Because of this situation, several companies that sell generic brands regularly have established themselves as the biggest sellers of insecticides.
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Syngenta's extensive product portfolio includes insecticides for a variety of plant groups, comprising cereals, grains, vegetables, turfs, oilseeds, ornamental plants, and so on.
In the cereals and grains industry, the most frequently treated crops are wheat, rice, and corn. Since grains are filled in pretty much every country, the worldwide interest in pesticides is critical. Global grain production has increased, and as cereal production and distribution have increased, it is becoming increasingly important for farmers to use the right pesticides to focus on quality and yield.
Insecticides come in a variety of forms, some of which target the insect's nervous system while others act as endotoxins or growth regulators. Corn, sorghum, sunflower, wheat, cotton, soybean, grapes, and many other crops benefit from insecticides in terms of yield. Thus, the growth of the insect spray market is aided by the expansion of insect spray use in harvests.
Pests are becoming more common in a variety of crops all over the world, and pests that are resistant to insecticides are becoming more common. A wide range of pests can be controlled with insecticides. Nonetheless, as irritations gain opposition, they lose their strength after some time, and a huge misfortune in weakness to a pesticide decreases its exhibition on the field. Insecticide resistance develops as a result of increased reliance on insecticide-based pest control of insects pests.
This resilience develops quickly as the intensity increments, permitting bugs or lice to multiply more rapidly. It has been observed that pink bollworm, a significant cotton pest, develops resistance to the cotton crop over time. Pesticide resistance is being slowed and prevented in the United States by the Environmental Protection Agency (EPA). Many commercially important crops have been destroyed by these pests, forcing farmers to use insecticides more frequently.
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Industry Dynamics
Growth Drivers
The growing agricultural industry on account of the rising demand for food is anticipated to drive product demand during the forecast period. The insecticides market is witnessing significant growth due to the rapid increase in food demand triggered by the rising population.
According to data from the European Union, the annual production of oilseeds is expected to reach 33.0 million tons in 2032, which is almost 2.8 tons more than in 2022. Developing farming creation across all regions of the planet is probably going to drive interest over the estimated period. Another major factor contributing to rising global food consumption is the ongoing increase in the global population.
The world's population is expected to reach 7.6 billion in 2023 and 8.6 billion and over 9.8 billion, respectively, by 2030 and 2050, according to the United Nations. It is anticipated that the ever-increasing global population will drive up food demand, driving up the use of insecticides to boost agricultural yields.
To meet the growing global demand for food, a number of programs have been launched by various governments to benefit farmers and increase crop yields. Farmers have been motivated to follow high-quality farming practices by the ongoing interactions between concerned government agencies and them. In order to maximize agricultural yields while minimizing food loss, these practices make use of a variety of technologies and chemicals, such as insecticides. High mindfulness about the use and backing from the concerned government is expected to reinforce the product demand.
Report Segmentation
The market is primarily segmented based on product, application, and region.
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By Product |
By Application |
By Region |
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The organophosphate segment held the largest insecticides market share in 2022.
Organophosphate is viewed as one of the most flexible classes of engineered insect sprays. Malathion, parathion, methyl parathion, diazinon, and dichlorvos are the most frequently used compounds in organophosphate. By inhibiting the cholinesterase enzyme, which is necessary for the nervous system to function properly, this insecticide kills insects. These are principally successful against sorts of bugs like vermin and aphids. The admission of this insect poison happens through the roots and it very well may be applied by impregnating this arrangement in the dirt or showering it on leaves.
The agriculture segment is projected to grow at the fastest CAGR during the forecast period.
Agriculture is the primary application of insecticides to infected crops. One of the major contributors to the rise in agricultural productivity is thought to be these. These are frequently used on a wide range of crops, including oilseeds and pulses, grains and cereals, fruits and vegetables, and other crops. When applied promptly, insecticides can be applied more effectively, at a lower cost, and with less impact on the organisms they are meant to kill.
The Asia Pacific held the highest market share in 2022 and is expected to grow rapidly over the forecast period.
The rise in demand for insecticides in a variety of applications, particularly in agriculture (fruits, vegetables, grains, oilseeds, pulses, and others), is primarily to blame for this expansion. Additionally, it is utilized for insect control in commercial, industrial, and household sectors. The presence of numerous developing countries such as China, India, Indonesia, and Malaysia including others are the major countries supporting the growth of the market. The rise in population, increase in demand for organic food, and growth in agricultural output in the region is driving the demand for insecticides.
Competitive Insight
Some of the global insecticides market players are Adama Agricultural Solutions Ltd, American Vanguard Corporation, BASF SE, Bayer CropScience AG, Corteva Agriscience, FMC Corporation, Isagro SPA, Nufarm Ltd, Syngenta AG, Sumitomo Chemical Co. Ltd, UPL Limited.
Recent Developments
- In April 2022, BASF SE launched Exponus insecticide which helps Indian farmers to protect their crops and boost productivity. It is registered to use on crops such as oilseeds, pulses, and vegetables.
- In December 2020, BASF SE launched Renestra insecticide for the growing season in 2021. It offers a complete solution for soybean farmers for controlling a wide range of insect pests.
- In October 2020, Nufarm announced the launch of Teppan insecticide containing a novel active ingredient cyclaniliprole for the Australian agriculture market.
Insecticides Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 9.52 billion |
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Revenue Forecast in 2032 |
USD 14.36 billion |
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CAGR |
4.7% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 - 2021 |
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Forecast period |
2023 - 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments Covered |
By Product, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Adama Agricultural Solutions Ltd, American Vanguard Corporation, BASF SE, Bayer CropScience AG, Corteva Agriscience, FMC Corporation, Isagro SPA, Nufarm Ltd., Syngenta AG, Sumitomo Chemical Co. Ltd, UPL Limited |
FAQ's
The insecticides market report covering key segments are product, application, and region.
Insecticides Market Size Worth $14.36 Billion By 2032.
The global insecticides market expected to grow at a CAGR of 4.7% during the forecast period.
Asia Pacific is leading the global market.
key driving factors in insecticides market are Growing Demand for Food Due to Increasing Global Population.
