Insecticides Market Size is projected to reach USD 22 Billion by 2030, growing at a CAGR of 5%: Straits Research

New York, United States, July 13, 2022 (GLOBE NEWSWIRE) -- All active chemicals employed to manage insect pests, particularly biological insecticides and Microbial insecticides, were studied as part of the study. Insecticides applied by owners, operators, and commercial applicators to farms and amenities engaged in the making of raw agricultural products, fiber, primarily food, and tobacco, are also included in the study.

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Proper Pest Management with Increased Use of Insecticides to Drive Insecticides Market
Between 2009 and 2050, the world's population is predicted to increase by more than a third, or 2.3 billion people, according to the FAO. Simultaneously, global per capita income is predicted to climb. Globally, as per capita income increases and the population increases, food demand is predicted to climb. According to the FAO, food demand in the United States is expected to increase by 50 percent to 90 percent by 2050. Producing adequate food is challenging due to a number of issues, including climate change, pest outbreaks, and a lack of investment.
As a result of the increased population, global food production demands are predicted to increase by roughly 70% by 2050 to meet growing food demand. This will demand a significant increase in the yield of certain foods. Cereal production, for instance, must increase to almost 3 billion metric tonnes by 2050, from around 2.1 billion metric tonnes in 2018.
Arable land is also in reduction over the planet. As per Statista, arable farmland in the United States declined from 905 million acres in 2010 to 896 million acres in 2020, and it is expected to continue to shrink in the future. Only 11% of the world's land surface is currently utilized for food production, comprising arable land and farm under permanent crops, according to the Food and Agricultural Organization. As a result, despite the restricted quantity of arable land, the production of crops such as grains and pulses must expand to fulfill the rising food demand in the country and around the world.
Farmers must boost agricultural output by either expanding the agricultural products available for crop production or improving productivity on existing agricultural lands by employing pesticides, irrigation, and novel methods such as precision farming.
Farmers are focusing their efforts on increasing productivity by reducing pest damage. The global market for insecticides is predicted to develop with appropriate pest control and the usage of crop protection products such as insecticides.

Emerging Markets to Generate New Opportunities 
One of the key drivers of pesticide sales in this region is agriculture expansion for livelihood security in countries like China and India. Due to the region's growing economy and differing pesticide usage restrictions between countries, the Asia-Pacific insecticides market has risen at an exponential rate compared to other regions. The climate of Asia Pacific is diverse, and there is a wide range of plant life. As a result, insecticides are utilized extensively over the region. As public knowledge of pesticides develops, as well as technological developments, this industry is progressing. Furthermore, agribusiness firms have been forced to adjust due to expanding commodity demand and greater cultivation in Asia-Pacific countries.

Report Scope

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Regional Insights

The insecticides market is segmented into four regions: North America, Europe, Asia-Pacific, Middle East & Africa, and South America. 
With sales of USD 2 billion in 2020, the United States is the largest market in North America. It is also estimated to be the fastest-growing market in the region, with a CAGR of 4% over the forecast period.
Spain is the largest market in Europe, with a revenue of USD 1 billion in 2021. It is also estimated to be the fastest-growing market in the region, with a CAGR of 4% over the forecast period. 
Biological insect management is gaining popularity in Spain as people become more concerned about food security.
With a sales of USD 2 billion in 2020, Brazil is the largest market in South America. At a CAGR of 6 percent over the projected period, it is also expected to be the region's fastest-growing market. Brazil, the world's second-largest pesticide consumer, employs a variety of chemical pesticides that are outlawed in other areas of the world. 
Insecticides are the fastest-growing market in Asia-Pacific. By 2030, the Asia-Pacific insecticides market is expected to be worth USD 8,993 million, growing at a CAGR of 5 percent.
With a revenue of USD 2 billion in 2020, China is the largest market in Asia-Pacific. At a CAGR of 5 percent over the projected period, it is also expected to be the region's fastest-growing market. Insecticide consumption in China has been boosted by the country's vast population and ever-increasing food demand. Bioinsecticides are also used as a long-term crop protection strategy in the country.

Key Highlights

• The Global Insecticides Market was valued at USD 14 billion in 2021 and is anticipated to generate USD 22 billion  by 2030. The market is expected to register growth at a CAGR of 5% during the assessment period. 
• The global insecticides market is segmented into origin: synthetic insecticide and bioinsecticide. The synthetic insecticide market is overtaken and expected to generate usd 16,368 million by 2030 at a CAGR of 4%.
• By application, the market is classified into grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, turf and ornmental. The grains and cereals segment is anticipated to generate USD 7,573 million by 2030 at a CAGRof 5%.
• On the basis of insect pest type, the insecticides market is classified into sucking pest insecticide and biting and chewing pest insecticide. The general industrial end-use segment was the highest contributor to the market, and is estimated to reach USD 13,541 million by 2030, at a CAGR of 6% during the forecast period.  

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Impact of COVID-19
The coronavirus outbreak is, first and foremost, a human calamity that has afflicted hundreds of thousands of individuals. Coronavirus (COVID-19) has a significant impact on businesses and the economy, as well as serious repercussions for people's health and healthcare. COVID-19 was declared a pandemic by the World Health Organization on March 11, 2020, wreaking havoc on people's health, families, and communities.
Due to the aforementioned circumstances, the government has implemented a number of measures aimed at slowing the virus's spread. Basic approaches include social isolation laws, firm operating hours limits, and travel restrictions. In terms of domestic supply, a labor shortage exacerbated by distribution constraints expanded the gap between the workforce necessary for production and the workforce available across the region. This resulted in a short-term shortage of raw ingredients needed for the production of pesticides.
Crop protection chemical companies in the region that manufacture pesticides are under pressure due to a lack of supply and timely distribution of their goods. The ongoing COVID-19 outbreak has forced agrochemical businesses throughout the world to reassess their business strategy in order to reduce the impact. Companies have turned their focus to synchronized product development and diversifying import destinations to areas that are less affected by the pandemic.
Partnerships and close coordination among the many players in the value chain are expected to aid in the understanding of the occurrence of concerns related to Covid-19 and the implementation of an effective multi-stakeholder strategic approach to break down barriers around the world.

Key Players of the Market

• Adama Agricultural Solutions Ltd
• American Vanguard Corporation
• BASF SE
• Bayer CropScience AG
• Corteva Agriscience
• FMC Corporation
• Isagro SPA
• Nufarm Ltd
• Syngenta AG
• Sumitomo Chemical Co. Ltd
• UPL Limited

Global Insecticides Market: Segmentation

By Origin

• Synthetic Insecticide
• Bioinsecticide

By Application

• Grains and Cereals
• Pulses and Oilseeds
• Commercial Crops
• Fruits and Vegetables
• Turf and Ornmental

By Insect Pest Type

• Sucking Pest Insecticide
• Biting and Chewing Pest Insecticide

By Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

TABLE OF CONTENT
1          Introduction
1.1      Market Definition
1.2      Market Scope
2          Research Methodology
2.1      Primary Research
2.2      Research Methodology
2.3      Assumptions & Exclusions
2.4      Secondary Data Sources
3          Executive Summary
4          Market Overview
4.1      Report Segmentation & Scope
4.2      Value Chain Analysis: Insecticides Market
4.2.1  Vendor Matrix
4.3      Key Market Trends
4.3.1  Drivers
4.3.2  Restraints
4.3.3  Opportunities
4.4      Porter's Five Forces Analysis
4.4.1  Bargaining Power of Suppliers
4.4.2  Bargaining Power of Buyers
4.4.3  Threat of Substitution
4.4.4  Threat of New Entrants
4.4.5  Competitive Rivalry
4.5      Environment & Regulatory Landscape
4.6      Forecast Factors & Relevance of Impact
4.7      Macro-Economic & Geopolitical Scenario
4.8      Parent Market Overview
4.9      Technology Landscape
4.10   Market Share Analysis
4.11   Potential Venture Analysis
4.12   Regional Price Trends
4.13   Raw Material Trends
4.14   Cost Structure Analysis
4.14.1            Labor Cost
4.14.2            Consumables
4.14.3            Maintenance Cost
4.15   Covid-19 Impact Analysis:
4.15.1            Pre and Post Covid-19 Market Scenario Analysis
4.15.2            Market Recovery Timeline and Challenge
4.15.3            Measures Taken by Top Players
4.15.4            Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1        North America
4.15.4.2        Europe
4.15.4.3        Asia-Pacific
4.15.4.4        Central and South America and the Caribbean
4.15.4.5        The Middle East and Africa
5               Origin Overview
5.1      Introduction
5.1.1  Market Size & Forecast (Value & Volume)
5.2      Synthetic Insecticide
5.2.1  Market Size & Forecast (Value & Volume)
5.3      Bioinsecticide
5.3.1  Market Size & Forecast (Value & Volume)
6               Application Overview
6.1      Introduction
6.1.1  Market Size & Forecast (Value & Volume)
6.2      Grains and Cereals
6.2.1  Market Size & Forecast (Value & Volume)
6.3      Pulses and Oilseeds
6.3.1  Market Size & Forecast (Value & Volume)
6.4      Commercial Crops
6.4.1  Market Size & Forecast (Value & Volume)
6.5      Fruits and Vegetables
6.5.1  Market Size & Forecast (Value & Volume)
6.6      Turf and Ornmental
6.6.1  Market Size & Forecast (Value & Volume)
7              Insect Pest Type Overview
7.1      Introduction
7.1.1  Market Size & Forecast (Value & Volume)
7.2      Sucking Pest Insecticide
7.2.1  Market Size & Forecast (Value & Volume)
7.3      Biting and Chewing Pest Insecticide
7.3.1  Market Size & Forecast (Value & Volume)
8             Regional Overview
8.1      Introduction
8.1.1  Market Size & Forecast (Value & Volume)
8.2      North America
8.2.1  Economic Overview
8.2.2  Market Scenario
8.2.3  U.S.
8.2.4  Canada
8.2.5  Mexico
8.3      Central and South America and the Caribbean
8.3.1  Economic Overview
8.3.2  Market Scenario
8.3.3  Brazil
8.3.4  Argentina
8.3.5  Colombia
8.3.6  Rest of Central and South America and the Caribbean
8.4      Europe
8.4.1  Economic Overview
8.4.2  Market Scenario
8.4.3  Germany
8.4.4  France
8.4.5  The U.K.
8.4.6  Italy
8.4.7  The Rest Of Europe
8.5      Asia-Pacific (APAC)
8.5.1  Economic Overview
8.5.2  Market Scenario
8.5.3  China
8.5.4  Japan
8.5.5  India
8.5.6  Australia
8.5.7  South Korea
8.5.8  Rest Of APAC
8.6      Middle East
8.6.1  Economic Overview
8.6.2  Market Scenario
8.6.3  South Arabia
8.6.4  The UAE
8.6.5  Qatar
8.6.6  Oman
8.6.7  Turkey
8.6.8  The Rest Of Middle East
8.7      Africa
8.7.1  Economic Overview
8.7.2  Market Scenario
8.7.3  Nigeria
8.7.4  South Africa
8.7.5  The Rest Of Africa
9          Competitive Landscape — Manufacturers & Suppliers
9.1      Competition Dashboard
9.2      Industry Structure
9.3      Adama Agricultural Solutions Ltd
9.3.1  Business Overview
9.3.2  Financial Performance
9.3.3  Recent Developments
9.3.4  Portfolio
9.4      American Vanguard Corporation
9.5      BASF SE
9.6      Bayer CropScience AG
9.7      Corteva Agriscience
9.8      FMC Corporation
9.9      Isagro SPA
9.10   Nufarm Ltd
9.11   Syngenta AG
9.12   Sumitomo Chemical Co. Ltd
9.13   UPL Limited
10       Conclusion & Recommendation
11       Acronyms & Abbreviations

Table of Content and Figure @  https://straitsresearch.com/report/insecticides-market/toc

Market News

• In June 2019, UPL and the Alliance for a Green Revolution in Africa (AGRA) have inked a partnership agreement to help African farmers gain access to yield-enhancing technology, such as agrochemicals. This would increase the company's sales volume in Africa.
• In August 2018, Sumitomo Chemical CO. Ltd. Botanical Resources Australia Pty. Ltd. is a private company based in Australia. Sumitomo Chemicals' product portfolio was bolstered with the addition of pyrethrum-derived insecticidal chemicals to the portfolio of the company.

News Media
Global Biostimulants Market to Expand at an Astounding Healthy CAGR During Forecast Period
Biopolymers Segment to Dominate the Green Chemicals and Materials Market
Smart Agriculture Market to Expand at a Remarkable Impressive CAGR During Forecast Period

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