The insecticides market consists of sales of insecticides. Insecticides are substances that are used to kill insects, including ovicides and larvicides used for insect eggs and larvae respectively in order to control pests that affect the cultivated crops.
Global Insecticides Market Size And Drivers:
The global insecticides market is expected to grow from $16.68 billion in 2020 to $17.63 billion in 2021 at a compound annual growth rate (CAGR) of 5.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $22.86 billion in 2025 at a CAGR of 7%. The world population is growing and is expected to reach 10 billion by 2050 and is expected to significantly boost the insecticides market.
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Trends In The Global Insecticides Market
Companies in the insecticides industry are developing new products and improving product composition to make them safer for workers, farmers, plants, and the soil. Every year, companies globally introduce new products or brands to cater to different sets of audiences, insects, and industries. This translates to changes in the base solution, mode of application, and residue formation of the insecticide. For instance, in May 2020, Marrone Bio Innovations, Inc. an international leader in sustainable bioprotection and plant health solutions, announced the approval of FDA for REGALIA MAXX biofungicide that can be used in indoor and outdoor on cannabis and hemp in Canada. Also, Marrone developed Venerate XC, a chemical user-friendly liquid microbial-based solution, which is used in integrated pest management (IPM) with a minimal four-hour re-entry interval (REI) and is under the MRL (maximum residue level) tolerance. The product is also non-toxic to fish, birds, and honeybees.
Global Insecticides Market Segments:
The global insecticides market is further segmented –
By Type: Synthetic Insecticides, Bio-insecticides
By Application: Cereals and Grains, Oilseeds & Pulses, Fruits & Vegetables, Others
By Form: Sprays, Baits, Strips
By Geography: The global insecticides market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Insecticides Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides insecticides market overviews, analyzes and forecasts market size and growth for the global insecticides market, insecticides market share, insecticides market players, insecticides market segments and geographies, insecticides market’s leading competitors’ revenues, profiles and market shares. The insecticides market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
