Transparency Market Research has published a new research report titled “Insecticides Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023” to their report store.
Albany, NY -- (SBWIRE) -- 08/26/2016 -- The information presented in this review is based on a Transparency Market Research report, titled, "Insecticides Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023." In terms of volume, the global market for insecticides is expected to expand at a CAGR of 4.6% from 2015 to 2023.Although the share of organophosphates is expected to decline slightly to a predicted 47.9% of the global insecticides market's volume by 2023, it will still be holding the leading volume based share till then.
The global market for insecticides is expected to expand at a CAGR of 5.1% within a forecast period from 2015 to 2023, in terms of revenue. This revenue is expected to reach US$2.75 bn by the end of 2016 and US$3.89 bn by the end of 2023. Fruits and vegetables are expected to continue being the primary crop type insecticides are applied to. This segment is expected to hold 43.2% of the insecticides volume by 2023.
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Population Boom, Lack of Arable Land Pressurize Farmers for Increasing Crop Yield
"The rate of increase in the human population around the world is putting an incredible amount of pressure on the agriculture industry around the world," states a TMR analyst. "Complicating matters even further are the lack of arable land in the world and the growing threat of pests and infestations."
According to the World Bank, the agriculture industry will have to increase its crop yield by 60% by 2050 in order to sustain the current rate of population growth. Research on insects is showing that the climate change is increasing the average temperatures and creating warmer winters, allowing several species of plant infesting creatures and bacteria to survive the winters. The growth of arable land has also been too insignificant in comparison to the amount of yield required from the agriculture industry.
These factors are putting a high focus on insecticides and fertilizers in an effort to increase the overall crop yield around the world.
Advancement of Alternative Crop Protection Methods Hinders Demand for Insecticides
In the face of the amplifying food shortage, scientists are not only invested in improving existing insecticides, but also towards finding out modern means of crop protection. The need for advanced crop protection techniques is also driven by the strengthening regulatory policies surrounding the use of toxic chemicals in the manufacture of insecticides.
A number of alternative practices are therefore being put into effect. These include crop rotation, the use of genetically modified crops, the growth of organic farming, and the use of integrated pest management solutions.
The level of fragmentation of the global market for insecticides is moderate with the top three manufacturers of insecticides in 2014 taking up 35.1% of the total market value. These players are Syngenta AG, The Dow Chemical Company, and Bayer AG.
According to a new publication released by Transparency Market Research, the degree of competition among insecticides manufacturers is expected to remain moderate till 2023. The globally prominent players held more than half of the market value in 2014 and this is not expected to change drastically over the coming years. This is due to the strong distribution channels held by the top players that make it harder for new entrants and regional players to expand.
Browse the full Insecticides Market Report At : http://www.transparencymarketresearch.com/insecticides-market.html
The degree of vertical integration in the global insecticides market is also expected to remain moderate over the coming years, owing to the high investments in research and development of insecticides that are both effective and non-toxic.
All in all, the threat posed by new entrants to the manufacturing of insecticides by other players is expected to remain moderate to low, as this market is essentially driven by economies of scale. Additionally, increasingly stringent government regulations pertaining to the toxicity of insecticides is also hampering new entrants that do not possess effective R&D means.
-By 2023, the total value of organophosphates – the leading insecticides type – is expected to reach US$1.78 bn.
-The demand for insecticides from fruits and vegetables cultivators is expected to be valued at US$1.68 bn by the end of 2023.
-Asia Pacific is expected to generate a demand for insecticides worth US$1.32 bn till 2023.
Key Segments of the Global Insecticides Market
Global Insecticides Market, by Product Segment
-Pyrethrins & pyrethroids
-Others (organosulfur, benzoylureas, etc.)
Global Insecticides Market, by Crop Types
-Cereals & grains
-Oilseeds & pulses
-Fruits & vegetables
-Others (industrial & municipal, household, ornamental plants, grass, etc.)
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