Market Overview
Global Insecticides Market is worth USD 9.45 billion in 2022 and is expected to forecast strong growth during the forecast period with a CAGR of 2.76% from 2022 to 2028.
Global insecticides market is a dynamic and critical part of the agrochemical industry, whose sole purpose is to control and counteract the negative impacts of insect pests on crops, public health, and the environment. With a perpetual fight against insect-borne diseases, crop damage, and food security issues, the market for insecticides is a crucial factor in maintaining world agriculture and human health. The major drivers of the world insecticides market are the continuously growing world population, which requires increased agricultural productivity, and the increasing incidence of insect-borne diseases such as malaria, Zika virus, and Lyme disease, which stimulate demand for efficient insecticides in public health initiatives.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 (Enter Corporate Email ID’ for a Free Sample Report):https://www.marketinsightsresearch.com/request/download/29/55683/insecticides-market
Population Increase and Food Security Issues
Population growth and food security issues are major drivers of the strong growth of the world insecticides market. With the population of the world growing at an unprecedented scale, there is a parallel increase in the need for food to satisfy the hunger of billions. But this growing population also imposes tremendous pressure on world agriculture, which is under threat from insect pests that can destroy crops and cause huge losses in yields.
Insecticides play a pivotal role in addressing these challenges by providing a means to protect crops from destructive insect pests. Farmers rely on these chemical and biological agents to safeguard their harvests and ensure a stable and sufficient food supply. Without effective insecticides, the agricultural sector would face even greater difficulties in meeting the growing demand for food, exacerbating food security concerns and potentially leading to food shortages and price spikes.
Additionally, the effects of insect damage go beyond losses in crops; they can destabilize supply chains, raise production costs, and affect farmers’ livelihoods. Insecticides are thus a critical component for guaranteeing the sustainability and resilience of world agriculture in the context of population growth and the resulting pressure on food production.
Key Market Players
- Syngenta Group
- AMVAC Chemical Corp.
- UPL Ltd.
- Bayer AG
- BASF SE
- FMC Corp.
- Corteva Agriscience
- Nufarm Ltd.
- Bioworks, Inc.
- Mitsui Agriscience international
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Integrated Pest Management (IPM)
Integrated Pest Management (IPM) is a sustainable pest control and agricultural method that has played a key role in driving the growth of the global insecticides market. IPM is a holistic method that incorporates different pest management methods, such as biological control, crop rotation, and responsible use of insecticides, to reduce the effects of pests on crops while decreasing the overall use of chemical insecticides.
Rather than applying chemicals in large-scale, nonspecific ways, IPM ensures the strategic, targeted use of insecticides in those places where they are necessary most. It not only cuts down on environmental costs associated with chemical insecticides but also farmers’ production expenditures, making it an economically friendly method.
In addition, IPM promotes the application of biological methods of controlling pest populations, including beneficial insects, nematodes, and microbial pathogens. The solutions are environmentally friendly and harmonize with sustainable agriculture. As people become increasingly aware of environmental issues, the demand for insecticides that abide by IPM is increasing, and this has prompted the production and use of environmentally friendly and organic insecticides in the market.
Key Market Challenges
Environmental Issues and Legislation
The insecticides market around the world has many challenges that it needs to address, among which are environmental issues and stringent legislations. While insecticides play a very critical role in guarding against insect-borne crops damage and helping achieve food security, they are increasingly coming under scrutiny regarding their environmental impact. Such scrutiny has spawned a list of regulations and issues that are causing stagnation in the development and viability of the world insecticides market.
Among the main environmental issues with insecticides is their capability to pollute soil and water. When sprayed in fields, chemical insecticides are capable of seeping into the ground and making their way into groundwater, causing harm to ecosystems and, in the process, harming aquatic organisms. Not only does such pollution impact the environment, but it also puts clean water supplies at risk.
egmental Insights
Type Insights
According to the Type, Pyrethroids was the leading segment in the global market for Global Insecticides Market in 2022
Application Insights
According to the Application, the Cereals and Grains segment was the leading player in the global market for Global Insecticides Market in 2022
Regional Insights
Asia-pacific was the leading player in the global Insecticides Market in 2022, with the largest market
Recent Developments
BASF SE launched the Exponus insecticide in India in April 2022, providing Indian farmers with an efficient means of protecting their crops from pests such as Caterpillars and Thrips. It is approved for application on numerous crops, ranging from oilseeds to pulses and vegetables, with the advantage of improving crop productivity.
In February 2021, Syngenta Crop Protection partnered with Insilico Medicine, an artificial intelligence (AI) company, in a strategic partnership. The partnership is intended to boost innovation and speed up the creation of next-generation crop protection solutions that can better protect crops against diseases and pests.
