Insecticides are chemicals that protect crops, fruits and vegetables, cereals, and grains, oilseeds and pulses from being infested by pests. Insecticides fight insect pests and help in the natural growth of crops. Insects, the most common class of animals are found in tropical areas in jungles, swamps, deserts, and in many other highly harsh environments. The deterioration of the climate has aided the growth of various types of insects, which damage crops by directly feeding on them. Over the past few years, the demand for insecticides has been increasing constantly across the globe. Factors such as the increasing need for improved crop yield and the rising threat of pest infestation are two of the factors expected to increase the demand for insecticides.
However, the increasing acceptance of non-chemical routes such as integrated pest management, genetically modified crops, organic farming, and crop rotation are predicted to hamper the growth of the global insecticides market. Agricultural experts and farmers consider these non-chemical practices to be non-toxic and cost-effective. This will lead to the emergence of bio-pesticides and they are predicted to offer many growth opportunities in the global insecticides market in the near future.
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In 2014 Asia Pacific Accounted for 40% of Global Insecticides Market
The demand for insecticides is expected to grow considerably in the years to come due to the rising threat of pest infestation. The need to yield better quality crops is increasing continuously due to the constant population growth. Since 2010, the world’s population has risen by 4.93% to reach 7.23 billion in 2014. In comparison, the global arable land area stretched by a mere 3.65% from 1.37 bn hectare to 1.42 bn hectare during the period between 2010 and 2014. Thus, the inadequate arable land has forced farmers to increase crops’ yield to feed the rising population. With this, the demand for insecticides is expected to increase in the years to come.
The global insecticides market is segmented on the basis of geography, crop, and product type. Based on crop, the global insecticides market is classified into cereals and grains, oilseeds and pulses, fruits and vegetables, and others. By geography, the global insecticides market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2014, Asia Pacific accounted for 40% of the global insecticides market.
In 2014 Organophosphates Product Segment held more than 50% in Global Insecticides Market
By product type, the global insecticides market is classified into organochlorines, organophosphates, carbamates, pyrethrins and pyrethroids, and others. In 2014, the organophosphate segment held a share of more than 50% in the global insecticides market.
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Some of the prominent players operating in the global insecticides market are ADAMA Agricultural Solutions Ltd., Bayer AG, DuPont, Syngenta AG, Nufarm Limited. Company, BASF SE, The Dow Chemical Company (Dow), FMC Corporation, and Sumitomo Chemical Co. Ltd.
Going forward, leading players are expected to introduce many new varieties of insecticides to protect fruits and vegetables and cereals and pulses. With many new products being introduced by leading players, the global insecticides market is predicted to be highly competitive in the near future.