$16.05 Bn Insecticides Market - Global Growth, Trends, and Forecast 2019-2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 24, 2019--
The “Global Insecticides Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The insecticides market was valued at USD 16.05 billion in 2018 and is expected to register a CAGR of 2.8% during the forecast period, 2019-2024.
Scope of the Report
All active ingredients that are used to control insect pests, including biological insecticides and antimicrobial insecticide, have been considered within the research scope. The market under study includes insecticides applied by owners or operators and commercial applicators, to farms and facilities that are involved in the production of raw agricultural commodities, fiber, mainly food, and tobacco. The market under study also includes crop and field applications, as well as non-crop and post-harvest use in agriculture.
Key Market Trends
Increasing Food Demand and Need for Increased Agricultural Productivity
According to FAO, the food demand in the United States is expected to increase by 50% to 90% by 2050. The world population is expected to grow by over a third, or 2.3 billion people, between 2009 and 2050. Many factors, from climate change to outbreak of pests and lack of investment, make it challenging to produce enough food.
The demand for food is expected to increase in the near future due to the increasing population, as well as rising income of individuals, in the United States. The percentage of arable land area is falling in the United States, which indicates the need to increase agricultural productivity to meet the increasing demand of the US population, as well as of the countries that import from the United States. Owing to these trends, the market demand for food is expected to increase, thereby, increasing the demand for insecticides, globally.
Increasing Insecticide Consumption in the Asia-Pacific Region
Rise in the number of resistant pests, increasing food demand, and need for increased agricultural productivity are the major factors driving the insecticides market in the Asia-Pacific region. Farmers will need to increase production by increasing productivity and using pesticides to control the damage caused by pests. Without the use of crop protection products, such as insecticides, the overall food production may decline, as due to climate changes and pests, farmers are facing yield fluctuations by about 30%. Owing to the above reasons, Asia-Pacific is the largest market in terms of insecticide consumption.
In the insecticides market, companies are adopting various strategies, such as product launches, partnerships, and acquisitions, to gain a larger share in the market. The global insecticides market is a largely consolidated market, with the top seven companies accounting for around 40% of the total market.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Rise in the Number of Resistant Pests
4.1.2 Increasing Food Demand and Need for Increased Agricultural Productivity
4.2 Market Restraints
4.2.1 Strict Regulations with Respect to Insecticide Usage
4.2.2 High Costs Associated with Developing New Products
4.3 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Origin
5.1.1 Synthetic Insecticide
5.2 By Application
5.2.1 Grains and Cereals
5.2.2 Pulses and Oilseeds
5.2.3 Commercial Crops
5.2.4 Fruits and Vegetables
5.2.5 Turf and Ornamentals
5.2.6 Other Applications
5.3 By Insect Pest Type
5.3.1 Sucking Pest Insecticides
5.3.2 Biting and Chewing Pest Insecticides
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Adama Agricultural Solutions Ltd
6.3.2 American Vanguard Corporation
6.3.3 BASF SE
6.3.4 Bayer CropScience
6.3.6 FMC Corporation
6.3.7 Isagro SPA
6.3.8 Monsanto Company
6.3.9 NuFarm Limited
6.3.10 Syngenta AG
6.3.11 Sumitomo Chemical
6.3.12 UPL Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/6aot0v
View source version on businesswire.com:https://www.businesswire.com/news/home/20190524005229/en/
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Related Topics:Agrochemicals and Fertilizers
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS NATURAL RESOURCES AGRICULTURE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/24/2019 10:51 AM/DISC: 05/24/2019 10:51 AM