The latest market report published by Credence Research, Inc. “Global Insecticides Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global insecticides market has witnessed steady growth in recent years and is expected to continue growing at a CAGR of 4.80% between 2023 and 2030. The market was valued at USD 8.9 billion in 2022 and is expected to reach USD 12.4 billion in 2030.
The global insecticides market is segmented by type, crop type, formulation, form, and region. Organophosphorus-based insecticides are the most popular type, while the cereals & grains category dominates the crop type segment. Emulsifiable concentrate formulation holds the largest share in the market, and sprays are the most commonly used form of insecticides. Asia Pacific leads the market growth.
The agriculture sector is expected to expand during the forecast period due to the rising global food demand driven by population growth. This necessitates increased agricultural production, leading to significant growth in the insecticide market.
The market is highly competitive, with key players including AMVAC Chemical Corp., UPL Ltd., Bayer AG, BASF SE, FMC Corp., Corteva Agriscience, Nufarm Ltd., Bioworks, Inc., and Syngenta Group. These companies focus on product innovation, expanding their market presence, and strategic partnerships to maintain a competitive edge.
Insecticides Market Major Challenges are multi-faceted and complex. One major challenge is the increasing concern over the harmful effects of insecticides on human health and the environment. This has led to stricter regulations from governments worldwide, making it difficult for companies to develop new products that are both effective and safe. Additionally, there is a growing demand for organic or natural alternatives to traditional chemical insecticides, which further adds pressure on manufacturers to diversify their product portfolios. Another key challenge facing the market is resistance among pests themselves, as they evolve and become immune to certain types of chemicals used in insecticides.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Insecticides Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the Route of Administration and Application
- Major nations in each region with their import/export statistics
- The global Insecticides Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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