Global Insecticide Industry was valued at USD 14.4 Billion in the year 2017. Global Insecticide Industry is further estimated to grow at a CAGR of 6.1% from 2019 to reach USD 23.11 Billion by the year 2025. Asia Pacific region holds the highest Industry share of around 39% in 2017 and North America is considered as the fastest growing Industry in the forecast period due to growing demand for crops and wide agricultural benefits. At a country level, China and India in Asia-Pacific and U.S. in North America holds the notable Industry share and is projected to grow strongly in the coming years due to the strongly growing agriculture sector.
Major market players in Insecticide Industry are The Dow Chemical Company, Syngenta AG, Monsanto Company, Bayer CropScience AG, FMC Corporation, E.I. Du Pont de Nemours and Company, Adama Agricultural Solutions Ltd, BASF SE, Nufarm Ltd, Sumitomo Chemical and overview of 10 companies is also provided in the report. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.
SWOT Analysis of Insecticide Industry:
Growing demand for the agriculture industry
Growing awareness benefits associated with insecticides
Rising population with demand for food
Strict government regulations and policies
High opportunities in the developing region
Rising demand for home-based insect control products
Presence of substitute products
The segmentation is done on the basis of form, by type, by crop type, and by region. On the basis of types, the global Insecticide Industry is sub-segmented Pyrethroids, Organophosphates, Organochlorines, Carbamates, Botanical Insecticides of which the organophosphorus segment is expected to hold the highest Industry share during the forecast period due to vide application, convenience in use and low cost.
Insecticide Industry Segmentation:
• Botanical Insecticides
By Crop Type
• Cereals & Grains
• Fruits & Vegetables
• Oilseeds & Pulses
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa