Introduction to the Insecticides market
Insecticides are chemical substances used to control, repel, or kill insects. They play a crucial role in agriculture, public health, and pest control by helping to manage insect populations that can damage crops, spread diseases, or cause other nuisances. Insecticides come in various forms, including sprays, dusts, baits, and granules.
Global Insecticides Demand, By Type, 2032 (Kiloton)
Source: Secondary & Primary Research and Prismane Consulting estimates
Insecticide Demand, by Type
Insecticides demand, by type, the market is segmented into Pyrethroids (Synthetic, Natural), Organophosphates (Parathion, Dimethoate, Methamidophos, and Others), Organochlorides (Dicofol, Endosulfan, BHC, Others), Carbamates and Others. Organophosphates dominates the market owing to its widespread use in the agricultural activities. These insecticides are highly efficient even when used in small quantities and several developments such as product development, sustainable farming options, and growing demand from developing regions are expected to boost demand for organophosphates over the forecast period.
Insecticide Demand, by Application
The global insecticides market applications are bifurcated into Agricultural, Public Health (Household, Commercial), Industrial and Others. Agricultural accounts for the highest demand as they are used to target specific pests that can cause significant damage to the crop. Common agricultural pests include aphids, caterpillars, beetles, mites, and various other insects.
Global Insecticides Demand, By Application, 2032 (Kiloton)
Source: Secondary & Primary Research and Prismane Consulting estimates
The upsurge in the global population is anticipated to increase the demand for food, which will impact the consumption if insecticides to increase the agricultural yields. Several governments are launching schemes for benefits of the farmers to increase their crop yields to fulfil the growing demand for food.
Insecticides demand, by region
The use of insecticides in the Asia-Pacific region is influenced by a variety of factors such as agricultural practices, pest prevalence, economic considerations, and regulatory frameworks. The region faces a wide array of pest challenges due to its varied climate and ecosystems. Insects, including pests like aphids, caterpillars, and beetles, can cause substantial damage to crop, therefore increasing the demand for insecticides.
Global Insecticides Demand, By Region, 2023 (Kiloton)
Source: Secondary & Primary Research and Prismane Consulting estimates
Agriculture is a major source of livelihood for a significant portion of the population in the Asia-Pacific region accounting for more than 20% of all food and agricultural exports. The region is a significant contributor to the global food chain and China and India are the global leaders in the production of wheat, rice, cotton, and tea, while Vietnam and Indonesia are among the top five largest producers of coffee beans. In some areas, there is a trend towards intensive farming practices to meet the growing demand for food. High-density cultivation increases the risk of pest infestations, making the use of insecticides a common practice to safeguard crop production.
Insecticides Market Dynamics
Drivers: Increasing demand from the agricultural industry
The agrochemical industry includes various types of products, such as insecticides, herbicides, and fungicides, all of which play a crucial role in enhancing crop productivity. Agriculture, being a highly diverse sector ranging from small farms to large multinational holdings, has experienced a rapid surge in activities driven by the escalating demand for food due to population growth which will drive the market for insecticides.
Factors contributing to the increased demand for insecticides include the rising trend of urbanization, a growing working population, and an upswing in disposable income. These shifts have led consumers to prefer fruits, vegetables, and organic fresh food products, necessitating more resource-intensive production and optimal utilization of invested resources. In this context, insecticides emerge as vital tools to mitigate the adverse effects of insects, thereby minimizing crop losses.
Rising Population and Food demand
With the world population projected to reach over 9 billion by 2050, the market demand for food is expected to increase. The demand for cereals is likely to reach around 3 billion metric ton by 2050, up from today’s nearly 2.1 billion metric ton. The land area is falling short for the rising demand for crops which indicates a need for increasing agricultural productivity.
The rising population is expected to increase the demand for food, putting pressure on agricultural productivity which will cause an upsurge in the agriculture activities, positively impacting the Insecticides market. Farmers will need to increase the production by increasing productivity and using insecticides to control the damage caused by pests.
Without the use of crop protection products, such as organophosphate insecticides, the overall food production may decline, as due to climate changes and pests, farmers are facing yield fluctuations by about 30%.
Restraints: Environmental Concerns
Insecticides are an important chemical used to prevent the development of insects in farming. However, the insecticides have raised concerns due to their potential impact on health and the environment. Notably, agricultural practices, leading to soil erosion, contribute to the transportation of insecticides into water bodies, adversely affecting aquatic life.
Regulatory frameworks such as the Insecticide Act of 1968 which regulates the import, sale, transport manufacture, distribution, and use of insecticides to prevent threat to human beings or animals. The primary objective is to ease the associated risks to both animals and humans which will negatively impact the Insecticides market in the forecast period.
Consumer demand for sustainable alternatives
The rising consumer awareness and the growing preference for organic food are anticipated to hinder the insecticides market in the upcoming years. The South Korean government has enforced clean production and environmental-friendly agriculture (EFA) policies which has led to a decline in the insecticides consumption in the country.
The growing demand for food safety and quality, increasing consumer demand for organic products, and favourable government policies promoting biocontrol products are some factors driving biopesticides' market growth.
Key players in Insecticides market
BASF, Bayer, Dow Chemicals, Shell Production (Thailand) Co., Ltd., Agro Chemical Industry Co. Ltd., FMC Corporation, UPL Ltd and Corteva Agriscience are some of the global Insecticides manufacturers.
Recent Developments in Insecticides market
UPL Introduces Two New Insecticides to North American Market - SHENZI 700 WG and SHENZI 400 SC which will provide solutions to protect the crops against pests and resistance with minimal environmental impact.
Corteva Agriscience has launched Spadin 11.7% SC, a new insecticide for providing immediate aphid control to the crops.
FMC has launched a new insecticide premix, Ethos Elite LFR insecticide, for the US market in 2024. This solution involves pyrethroid insecticide, bifenthrin, with two FMC biological strains to protect the crops from early-season diseases and soilborne pests.
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