Insecticides Market - Segmented by Type, Application, and Geography - Growth, Trends, and Forecast (2019 - 2024)

The Global Insecticides Market was valued at USD 15.54 billion in 2017 and is expected to register a CAGR of 2.8% during the forecast period (2018-2023). In 2017, North America accounts for the largest market share in global insecticides market.

The insecticide market in the United States has already reached a saturation point and is expected to witness a minimal growth of around 2.4%, during the forecast period. The push toward food security and quality, as well as environmental awareness has led to a decline in the popularity of insecticides in the United States. Various companies offer broad care insecticide products, which kill a wide range of insects, including the beneficial ones, like honey bees. An increasing awareness about these types of incidents has led to farmers opting for minimal usage of insecticides.

The Fastest Market Growing Segment by Insect Pest Type – Sucking Pest Insecticide

The sucking-pest insecticide segment constitutes the largest market share (70.8% in 2017) and is expected to retain its position till 2023. Aphids, whiteflies, thrips, and bugs are the most commonly found insect pests in the US. Acetamiprid is a widely used sucking type insecticide in the United States, and the insecticide is applied to the soil or as a foliar spray on apples, cherries, letttuce, pears, peppers, house and garden plants, potatoes, plums, and tomatoes. The cotton growers in the country are largely dependent on synthetic pesticides to combat the occurrence of various sucking pests. The adoption of Bt-crops has re-shaped the need for insecticide use in the country, but has also allowed other, previously less economically important, insect pests to proliferate. However, the population of Bt-insensitive insects may increase. Higher prevalence of sucking pests on crops in the country is likely to drive the sucking pest insecticide market in the United States.

Rise in the Number of Resistant Pests

Insecticides can be used to control a variety of pests, however, overtime, they lose their effectiveness, as pests develop a resistance, a significant decrease in sensitivity to a pesticide, which reduces the field performance of the pesticides. Reliance on insecticide-based pest management of insect pests often leads to the development of insecticide resistance. Farmers are applying higher quantity of the same insecticides to kill crop pests, which has led to pesticide resistance in the field. With each application, a few pests survive, who pass on their genes to their offspring. Eventually, the pesticide stops killing pests, leading to crop damage, which leads to demand of more investment in the R&D and new formulations of insecticides in the market. According to an International Survey of 2017 by Issac and McManus, currently, there are 500 cases of pesticide resistance and 200 cases of insecticide resistance, worldwide

Strict Regulations With Respect to Pesticide Usage

EPA does proper ecological risk assessment before allowing an insecticide to enter the market. It also proposes changes in the formulation, if it is harming the environment. A human health risk assessment is also done to estimate the nature and probability of adverse health effects in humans who are exposed to these insecticides. The US federal court has recently asked the EPA to ban the use of an organophosphate insecticide chlorpyrifos, which is harmful for children and families using it. The US EPA has also banned the usage of endosulfan in 2018. In the country, endosulfan was used in variety of vegetables, fruits, and other crops, especially tomato, potato, apple, and cotton. The insecticide was linked to birth defects, mental retardation, and death among farm workers.

Key Developments of Insecticides Market

• Aug 2018: Neo-nicotinoid insecticide was banned as it affects the central nervous system of the insect.
• jul 2018: Toxin present in the desert bush spider is used for developing drugs and insecticides.  
•  Major Players:  Adama Agricultural Solutions Ltd, Arysta Lifescience, American Vanguard Corporation, BASF SE, Bayer CropScience, DowDupont , FMC Corporation, Isagro USA, Monsanto Company, NuFarm Limited, Syngenta Corporation,  Valent USA LLC ,list not exhaustive

Reasons to Purchase the Report

• To have an understanding of the fastest growing regions  in the insecticides and growth trends during the forecast period
• The report outlines drives, restraints, and trends that are currently effecting the market
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The report covers in-detail insights about the competitors’ overview and company share analysis
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)

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