Insecticides Market Revenues to Reach USD 23.18 billion by 2028 – Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, July 12, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled “Insecticides Market Report (2023-2028),” the market is estimated at USD 18.16 billion in 2023. It is expected to register a CAGR of 5% during the forecast period.

With the continuous rise in the population worldwide, there is an increase in agricultural production to satisfy the rising food demand. Upgrades in farming techniques and technologies are some factors that drive the market. There is also a tremendous increase in the number of insecticide-resistant pests. This is pushing the insecticide manufacturers to invest more in their research and development activities.

Report Summary:

Report Attribute	Details
Market Size (2023)	USD 18.16 billion
Market Size (2028)	USD 23.18 billion
CAGR (2023-2028)	5%
Fastest Growing Market	Asia-Pacific
Largest Market	Asia-Pacific
Study Period	2018-2028
Forecast Units	Value (USD billion)
Report Scope	Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market Drivers	Upgrades in agricultural technologies.
	Snowballing of agricultural activities.

Who are the Top Companies in the Insecticides Market?

With numerous key players, the market is consolidated. They are also engaged in partnerships, expansions, and mergers and acquisitions, which are expected to consolidate the market.

The noteworthy players holding the insecticides industry are:

• Adama Agricultural Solutions Ltd
• American Vanguard Corporation
• BASF SE
• Bayer CropScience AG
• Corteva Agriscience
• FMC Corporation
• Isagro SpA
• NuFarm Limited
• Syngenta AG
• Adama Agricultural Solutions Ltd
• Sumitomo Chemical Co. Ltd
• UPL Limited

Other Reports That Might Be of Your Interest:

• Household Insecticides Market Report – The household insecticides market size is estimated at USD 17.24 billion in 2023 and is expected to reach USD 23.34 billion by 2028 at a CAGR of 6.25% during the forecast period (2023-2028).
• Vietnam Organic Fertilizers Market Report – The Vietnamese organic fertilizers market is projected to register a CAGR of 6.7% over the forecast period.

Key Highlights from the Insecticides Market Report:

 Necessity for Increased Agricultural Productivity Amid Declining Farmlands

• As per the FAO, the food demand worldwide is expected to increase from 50% to 90% by 2050 due to the projected increase in the global population by over a third, or 2.3 billion people, between 2009 and 2050. With the increasing population globally, food production needs are likely to increase by about 70% by 2050 worldwide. This indicates a significant surge in the production of certain food commodities.
• From climate change to the outbreak of pests and shortage of investment, many factors have restricted the production of food products. The percentage of arable land area is falling in most countries worldwide, indicating the urgency to enhance agricultural productivity to meet the population’s rising demand.

 Asia-Pacific to Hold a Significant Market Share

• The Asia-Pacific region has diverse climatic conditions which support the production of an inclusive variety of crops. The rising number of resistant pests, strengthening food demand, and the need for increased agricultural productivity are the main factors driving the insecticide market in the region.
• APAC is also characterized by extremely evolved technological advancements, which, in combination with increasing investments in R&D of biological insect control products, serve the snowballing domestic demand for quality food.

What are the Latest Developments in the Insecticides Market?  

• In April 2022, BASF SE launched Exponus insecticide in India. It helps the farmers in protecting their crops from caterpillars and thrips and boosts crop productivity. It can be used on crops such as oilseeds, pulses, and vegetables.
• In February 2021, the Crop Science division at Bayer Vietnam introduced Vayego 200SC, a new multi-insecticide and liquid formula containing tetraniliprole. The product attacks caterpillars and addresses the varied protection needs of modern farmers.

Mordor Intelligence has Segmented the Insecticides Market Based on Origin, Application, Insect Pest Type, and Geography:

• By Origin
  • Synthetic Insecticides
  • Bio-insecticides
• By Application
  • Grains and Cereals
  • Pulses and Oilseeds
  • Commercial Crops
  • Fruits and Vegetables
  • Turf and Ornamental
• By Insect Pest Type
  • Sucking Pest Insecticides
  • Biting and Chewing Pest Insecticides
• By Geography
  • North America  
    • United States 
    • Canada 
    • Mexico
    • Rest of North America
    • Europe 
  • United Kingdom 
    • Germany 
    • France 
    • Spain
    • Italy
    • Russia
    • Rest of Europe 
  • Asia-Pacific 
    • China 
    • India 
    • Japan 
    • Australia
    • Rest of Asia-Pacific 
  • South America 
    • Brazil 
    • Argentina 
    • Rest of South America 
  • Africa 
    • South Africa 
    • Rest of Africa 

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Insecticides Market Report (2023-2028).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

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• Asia-Pacific Micronutrient Fertilizer Market Report  – The Asia-Pacific micronutrient fertilizer market size is estimated at USD 1.10 billion in 2023 and is expected to reach USD 1.56 billion by 2028 at a CAGR of 7.20% during the forecast period (2023-2028).
• Thailand Fertilizers Market Report – The Thailand fertilizers market size is estimated at USD 2.25 billion in 2023 and is expected to reach USD 3.08 billion by 2028 at a CAGR of 6.40% during the forecast period (2023-2028).

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.

Attachment

• Insecticides Market – Mordor Intelligence

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