Insecticides Market is Anticipated to Increase at a Stable CAGR...

Insecticides Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2024 to 2031)

Posted 2024-06-13 12:11:31

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The global Insecticide Market is anticipated to grow at a CAGR of 5.62% during the forecast period (2024-2031). Insecticide is a chemical substance used in agriculture to control and eliminate insect pests, safeguarding crops from damage and ensuring optimal yield and quality in a farming environment. The global insecticide market grows due to rising population demands and shrinking agricultural land. Insecticides protect crops, ensuring higher yields amid land scarcity. Climate change-induced pest outbreaks increase reliance on insecticides for crop protection. Economic factors drive market growth by minimizing crop losses and enhancing profitability. Advancements in insecticide development target specific pests with reduced environmental impact. Concerns persist over insecticide overuse leading to resistance, harming beneficial insects and the environment. As the market expands, there's a push for sustainable and targeted insecticide use to address these issues.

In November 2023, FMC launched Ethos Elite LFR insecticide/biofungicide, a new crop protection product for the U.S. market in 2024. It combines bifenthrin with two proprietary biological strains, providing broad-spectrum control against early-season diseases and soilborne pests in crops like corn, soybeans, and cotton. The formulation's Liquid Fertilizer Ready technology ensures uniform suspension and compatibility with conventional systems.

In November 2023, Godrej Agrovet (GAVL) launched Rashinban, an insecticide for protecting chilli crops during flowering, developed by Japan's Nissan Chemical Corporation. Effective against thrips, mites, and caterpillars, it ensures holistic efficacy during this critical growth stage. Rashinban's broad-spectrum action reduces the need for multiple insecticides, streamlining pest management and potentially increasing yields for Indian chilli farmers.

To Request a Sample of our Report on Insecticides Market: https://www.omrglobal.com/request-sample/insecticides-market

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

Segment Covered-

• By Product Type

• By Crop Type

Regions Covered-

• North America

• Europe

• Asia-Pacific

• Rest of the World

Competitive Landscape- includes BASF SE, Bayer Crop Science Ltd, Rallis India Limited, Syngenta Crop Protection AG, and The Dow Chemical Company among others.

Insecticide Market Report Segment

By Product type

• Organophosphates

• Pyrethroids

• Methyl Carbamates

• Neonicotinoids

• Other Insecticides (Spinosyn insecticides, Diatomaceous earth, Biochemical insecticides, and Insect growth regulators (IGRs)

By Crop Type

• Cereals and Grains

• Oilseeds & Pulses

• Fruits & Vegetables

• Others (Spices, Beverage crops, Fibers, Industrial crops)