Overview and Scope
Insecticides are substances that are used to kill insects, including ovicides and larvicides, which are used for insect eggs and larvae, respectively, to control pests that affect cultivated crops. Insecticides work by either disrupting the nervous system or damaging exoskeletons.
Sizing and Forecast
The insecticides market size has grown strongly in recent years. It will grow from <b>$21.74 billion in 2023 to $23.66 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. </b> The growth in the historic period can be attributed to agricultural intensification, crop expansion, public health concerns, pesticide resistance management.
The insecticides market size is expected to see strong growth in the next few years. It will grow to <b>$33.26 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. </b> The growth in the forecast period can be attributed to global population growth, climate change impact, integrated pest management (ipm), emerging pest threats. Major trends in the forecast period include sustainable insecticides, precision application technologies, biological pest control, residue and food safety.
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Segmentation & Regional Insights
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 & Pulses, Fruits & Vegetables, Other Applications
<b>Asia-Pacific</b> was the largest region in the insecticides market in 2023. <b>South America</b> 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.
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Major Driver Impacting Market Growth
The world population is growing and is expected to reach 10 billion by 2050, which is expected to significantly boost the insecticide market. An increase in the population creates more demand for food. Crop production, farming activities, and trade volumes will have to increase to meet the increased population. Additionally, farmers and commercial farming companies will increase acquisitions of arable land to increase crop production, which is expected to increase the demand for herbicides. To meet the food demand that may rise from 59% to 98%, farmers have to increase agricultural productivity through fertilizers and advanced technologies in farming. Thus, the increase in demand for food for the growing population will promote the growth of the insecticide market.
Key Industry Players
Major companies operating in the insecticides market include <b> 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. </b>
The insecticides market report table of contents includes:
1. Executive Summary
2. Insecticides Market Characteristics
3. Insecticides Market Trends And Strategies
4. Insecticides Market – Macro Economic Scenario
5. Global Insecticides Market Size and Growth
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26. South America Insecticides Market
27. Brazil Insecticides Market
28. Middle East Insecticides Market
29. Africa Insecticides Market
30. Insecticides Market Competitive Landscape And Company Profiles
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