Insecticides Market Will Hit Big Revenues in Future

The insecticides market is projected to reach a value of USD 19.27 billion by 2022, at a CAGR of 5.8% from 2017 to 2022. The market is driven by factors such as increasing global exports and rise in instances of crop losses due to pest infestation. Moreover, population growth exceeds global food production, owing to which the use of best grades of insecticides for agriculture will benefit growers and the economically backward population in developing countries. Increasing investments in R&D capabilities of the key players for innovating new insecticides products, along with the increased expenditure on innovating new and cost-effective production processes of insecticides is expected to change the business landscape in the next six years.

On the basis of type, the others segment is projected to grow at the highest growth rate from 2017 to 2022. This is due to the stringent regulations posed by the government of varied countries on different classes of synthetic insecticides such as organochlorine, carbamates and organophosphates. Due to the constant phase out of active ingredients in these insecticide classes, better and less-toxic chemicals are expected to capture the major market in the near future.

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On the basis of crop type, the fruits & vegetables segment is projected to at the highest CAGR during the review period, in terms of volume. The demand for various types of fruits & vegetables is driven by favorable climatic conditions, technology, and storage methods. In order to protect stored crops, insecticides are widely used for fruits & vegetables, thereby increasing their yield and crop.

On the basis of formulations, the granules segment is projected to grow at a higher growth rate in the global insecticides market from 2017 to 2022. The ready-to-use ability of these formulations coupled with the benefits of longer shelf life and ease in storage, the demand for granular forms of insecticides formulation is on the rise.

Foliar spray has dominated the insecticides market, by mode of application. These are widely used mode of application due to its ease of application and high effectiveness. Foliar spray or foliar feeding is a technique of feeding plants by applying liquid insecticides directly to their leaves. It is recommended when environmental conditions limit the uptake of nutrients through roots.

Asia Pacific is projected to be the fastest-growing market for insecticides between 2017 and 2022. The Asia Pacific market experiences the maximum consumption of insecticides due to the increasing awareness about pesticides and continuous technological advancements. Key players focus on research & development to develop products conforming to European regulations for insecticides, since these regulations are considered to be benchmarks in terms of certain insecticides.

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