Insecticides Market Worth 18,451.2 Million USD By 2022, Says Meticulous Research™

Wednesday, November 29, 2017 2:12 PM UTC

LONDON, Nov. 29, 2017 -- The global insecticides market will grow at a CAGR of 5.3% during the forecast period to reach USD 18,451.2 million by 2022, according to the latest publication from Meticulous Research™. This market is primarily driven by the growing population, reduction of arable land, increasing crop losses due to insects, and advanced agricultural practices and technologies. However, growing concern over side effects of insecticides, growing emphasis on bio-insecticides and organic farming, and stringent government regulations obstructs the growth of this market to some extent.

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Based on the product type, the chemical insecticides segment dominated the overall market in 2016, owing to its increasing usage in developing countries, easy availability, higher efficiency, and low cost as compared to biologicals.

On the basis of crop type, cereals and grains segment commanded the largest share in the global market in 2016, owing to their large production across the globe and increasing adoption of insecticides by farmers to control the yield losses due to insects, especially in developing nations.

Geographically, Latin America accounted for the largest share in the global insecticides market, mainly attributed to its large arable land, increasing demand for crop yield & efficiency, increasing crop yield losses, lenient laws related to food safety, increased crop yield, higher adoption of advanced technologies, and availability of government funding. However, Asia-Pacific region is slated to register the fastest growth during the forecast period, primarily due to large area under agriculture cultivation, growing need to increase crop yield due to increasing population, growing organic farming, and increasing government funding.

The key players in the global insecticides market are BASF SE, Syngenta AG, E.I. DUPONT De Nemours And Company, FMC Corporation, Sumitomo Chemical Co., Ltd, BAYER Cropscience AG, Nufarm Limited, The Dow Chemical Company, Marrone Bio Innovation, Monsanto Company, Arysta LifeScience, ADAMA Agricultural Solutions Ltd., Drexel Chemical Company, BioWorks Inc., Heranba Industries Ltd., and Novozymes A/S.

Scope of the Report:

Market by Active Ingredient