Insecticides Market Size to Boost USD 27.0 billion By 2027 | CAGR 4.6% - IndustryARC


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increase in demand for agrochemicals is boosting the growth of global Insecticides Market. increase in agricultural activities on account high demand for food.

HYDERABAD, TELANGANA, INDIA, January 23, 2023 / -- IndustryARC, in its latest report, predicts that Insecticides Market size is estimated to reach US$27.0 billion by 2027 after growing at a CAGR of 4.6% during 2022-2027. Insecticides are substances which are used to control insects by preventing or killing them to control pests which infect cultivated plants. Insecticides enables to eliminate the diseases carrying insects. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

This IndustryARC report on the Insecticides Market highlights the following areas -

1. Asia Pacific is the dominating region in the global insecticides market. The growth is mainly attributed to the increased demand for insecticides in agriculture and commercial applications..

2. The significant growth in global agriculture output and adoption of healthy diet is driving the growth of global insecticides market.

3. Insecticides play an essential role in several applications such as fruits, vegetables, cereals and grains, and oilseeds & pulses which is expected to provide significant growth opportunity for the global market.

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Segmental Analysis:

1. The organophosphate segment held the largest insecticides market share in 2021, with a share of over 25%. Organophosphate is considered as one of the most versatile classes of synthetic insecticides. The major compounds used in organophosphate are malathion, parathion, methyl parathion, diazinon, and dichlorvos. This insecticide kills insects by preventing cholinesterase enzyme which is important in the functioning of nervous system.

2. The Asia Pacific held the largest insecticides market share in 2021 and is projected to grow with a CAGR of 5.2% during the forecast period. This growth is mainly attributed to the increase in demand for insecticides in several applications, especially in agriculture including fruits, vegetables, cereals and grains, and oilseeds, pulses and others.

3. The agriculture segment is expected to grow at the fastest CAGR of 5.7% during the forecast period in the global insecticides market. Insecticides are mainly used in agriculture across infected crops. These are considered as one of the major factors for the growth in agricultural productivity.

Competitive Landscape:

The top 5 players in the Insecticides Industry are -

2. Bayer Cropscience
3. FMC Corporation
4. Corteva Agriscience
5. Nufarm Limited

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Related Reports:

A. Pesticide Intermediate Market

B. Fungicide Market

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