Insecticides Market by Type (Pyrethroids, Organophosphates, Carbamates, Chlorinated Hydrocarbons, Botanical, and Others), Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032

Insecticides Overview

Insecticides are substances used to mitigate insects of one or more species. They are used in the agricultural sector for controlling pests that infest cultivated crops, but they have other uses as well, such as eliminating insects that spread diseases.

Consumers expect to get pest-free fruits and vegetables and insecticides directly play a role in ensuring the crop quality isn't hampered by insects. Insecticides also control some plant diseases that are spread by insects which can lead to deterioration in the quality. Insecticides make it possible to control pests quickly.

Global Insecticides Market Analysis

The global insecticides market size was $9.14 billion in 2022 and is predicted to grow at a CAGR of 4.81%, by generating a revenue of $14.33 billion by 2032.

COVID-19 Impact on Global Insecticides Market

The insecticides market, like many other industries, faced challenges due to disruptions in supply chains. Lockdowns, transportation restrictions, and labor shortages in various regions affected the production, distribution, and availability of insecticides. During the pandemic, some of the major consumers of insecticides, such as the agriculture and horticulture sectors, were impacted. Labor shortages, logistical challenges, and economic uncertainties led to a decline in demand for insecticides in these industries. The global economic slowdown caused by the pandemic affected the purchasing power of consumers and led to reduced demand for non-essential products, including certain insecticides used for cosmetic purposes or in residential settings.

As economies recover and lockdown restrictions ease, the demand for insecticides in the agriculture and horticulture sectors is likely to rebound. Increased agricultural activities drive demand for insecticides to protect crops from pests and diseases. The pandemic has highlighted the importance of public health and hygiene, leading to increased awareness of insect-borne diseases. This boosts demand for insecticides used in mosquito control and disease prevention. The insecticides industry has seen increased investment in research and development, leading to the introduction of more efficient and eco-friendly products. There could be a growing preference for sustainable and bio-based insecticides in the post-pandemic world.

Growing Usage of Insecticides Across Agriculture Sector to Drive the Market Growth

The agriculture sector is a significant driver for the insecticides market. Farmers use insecticides to protect crops from pests, insects, and diseases, which can cause significant yield losses. The growing global population and increasing food demand necessitate higher agricultural productivity, further driving the demand for insecticides. As pests develop resistance to existing insecticides, there is a continuous need for innovative and more effective products. Additionally, the emergence of new pests or invasive species can create demand for specific insecticides tailored to combat these threats. Climate change affects insect populations and their distribution. As pests migrate to new regions due to changing climate patterns, it creates demand for suitable insecticides in those areas. Government regulations and policies play a significant role in shaping the insecticides market. They can influence the approval and usage of especially those insecticides with potential environmental and health impacts. Increased awareness about pest-borne diseases, food safety, and environmental concerns can drive the adoption of insecticides as preventive measures.

Environmental Concerns Associated with the Use of Insecticides to Restrain Market Growth

Farmers are increasingly opting for organic and natural insecticides as they are perceived to be less harmful to the environment and human health. This shift in preferences may limit the demand for conventional chemical insecticides. Integrated Pest Management approaches promote a combination of different pest control methods, including biological control, cultural practices, and judicious use of pesticides. As IPM gains traction, the reliance on chemical insecticides alone may decrease. Economic downturns, fluctuations in agricultural commodity prices, and changing consumer spending patterns can impact the demand for insecticides, particularly in the agricultural sector.

Advancements in Pest Control Solutions to Drive Excellent Opportunities

Insecticides play a vital part in ensuring crops from insects. With the increasing worldwide population, the demand for food is increasing, which creates a substantial opportunity for insecticide manufacturers to cater to the needs of the agricultural sector. Urbanization frequently leads to increased pest problems, such as mosquitoes, cockroaches, and ants. This makes a demand for household insecticides and pest control services in urban areas. Consumers are looking for eco-friendly alternatives to conventional chemical insecticides. Biopesticides, created from natural sources, present an opportunity for companies to tap into the growing demand for sustainable pest control solutions. Insecticide resistance is an ongoing challenge for the industry. Developing new insecticides or innovative approaches to managing resistance can provide a competitive advantage. The adoption of IPM practices is gaining traction in various sectors. Companies offering insecticides that complement IPM strategies may find increased opportunities.

Global Insecticides Market Share, by Type, 2022

The organophosphates sub-segment accounted for the highest share in 2022. Organophosphates are known for their broad-spectrum activity, meaning they can control a wide range of insect pests. This versatility made them popular among farmers and pest control operators as they could address multiple pest problems with a single product. Organophosphates were relatively inexpensive to produce, making them an attractive option for farmers, especially in developing countries where cost considerations play a significant role in pest management decisions. In some cases, organophosphates were effective against insect populations that had developed resistance to other types of insecticides. This effectiveness made them a valuable tool for managing pests that had become problematic due to resistance. Organophosphates were widely available and easily accessible in the market, contributing to their popularity among farmers and pest control professionals. Many organophosphate insecticides had a relatively long shelf life, allowing for stockpiling and use over an extended period, which appealed to agricultural businesses.

Global Insecticides Market Share, by Application, 2022

The cereals & grains sub-segment accounted for the highest share in 2022. Cereals and grains are susceptible to a wide range of insect pests, including beetles, weevils, moths, and mites. These pests can cause significant damage during storage or while the crops are growing in the field. Insecticides help protect crops from infestations and prevent losses in yield and quality. After harvesting, cereals and grains are often stored for extended periods before consumption or processing. During storage, they are at risk of infestation by insects that can spoil the grain and reduce its value. Insecticides applied during storage help preserve crops and prevent post-harvest losses. Insect infestations can lead to increased mold growth, which can produce harmful mycotoxins. Insecticides can help prevent or reduce insect-related mold growth, consequently lowering the risk of mycotoxin contamination in cereals and grains. Some insects can carry and spread diseases that affect both crops and humans. Controlling insect populations through insecticides helps reduce the risk of disease transmission.

Global Insecticides Market Share, by Region, 2022

The Asia Pacific region accounted for the highest market share of the insecticide market in 2022. The expansion of subsistence agriculture in countries such as China and India are the most important factor affecting the sale of insecticide in the region. Developing economies in this region and inconsistent usage of pesticides across countries are the major factors contributing to the exponential growth of the insecticide market in the Asia Pacific compared to other regions. There are great differences in climate and plant diversity between Asia and the Pacific. Therefore, the use of insecticides is widespread throughout the region. Growing awareness about pesticides and continuous technological advancement are the factors driving the growth of this market. In addition, the growing demand for crops and growing cultivation in Asia-Pacific countries forced agricultural companies to expand their suppliers and production base in the region.

Competitive Scenario in the Global Insecticides Market

There are several major players functioning in the highly competitive global insecticides market. In order to increase their market presence and boost their product portfolios, companies invest in research and development to create new insecticide formulations with improved efficacy, reduced environmental impact, and enhanced safety. Innovations include novel active ingredients, improved application methods, and formulations compatible with integrated pest management (IPM) practices. Some of the leading insecticides market players are AMVAC Chemical Corp., UPL Ltd., Bayer AG, BASF SE, FMC Corp., Corteva Agriscience, Nufarm Ltd., Bioworks, Inc., and Syngenta Group.

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