Insecticides Global Market Report 2024

The insecticides market size has grown strongly in recent years. It will grow from $21.74 billion in 2023 to $23.66 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The increase during the historical period can be credited to agricultural intensification, expansion of crops, public health considerations, and the implementation of strategies for managing pesticide resistance.

The insecticides market size is expected to see strong growth in the next few years. It will grow to $33.26 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The expansion anticipated in the forecast period can be linked to factors such as the global population's growth, the influence of climate change, the adoption of integrated pest management (IPM), and the emergence of new pest challenges. Noteworthy trends in this period encompass the adoption of sustainable insecticides, the integration of precision application technologies, the utilization of biological pest control, and a focus on residue and food safety.

The global population is on the rise and is projected to reach 10 billion by the year 2050. This growth is expected to have a significant impact on the insecticide market. The increasing population will lead to a higher demand for food, necessitating an expansion in crop production, farming activities, and trade volumes to meet this growing need. Furthermore, farmers and commercial farming enterprises will seek to acquire more arable land to increase crop production, thereby driving up the demand for herbicides. To meet the potential increase in food demand, which may rise from 59% to 98%, farmers will need to enhance agricultural productivity through the use of fertilizers and advanced farming technologies. Consequently, the heightened demand for food due to the expanding population will promote the growth of the insecticide market.

The primary categories of insecticides encompass synthetic insecticides and bio-insecticides. Synthetic insecticides serve as the primary means of insect control. In general, they readily infiltrate insects and are detrimental to a wide array of species. Common formulations of insecticides include sprays, baits, and strips, which find application in various contexts, such as cereals, grains, oilseeds, pulses, fruits, vegetables, and more.

The insecticides market research report is one of a series of new reports that provides insecticides market statistics, including insecticides industry global market size, regional shares, competitors with an insecticides market share, detailed insecticides market segments, market trends and opportunities, and any further data you may need to thrive in the insecticides industry. This insecticides market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The growth of the insecticide market is also expected to be fueled by escalating crop losses. Crop losses refer to the reduction in the quantity or quality of agricultural crops due to a variety of factors, including natural disasters, pests, diseases, adverse weather conditions, and other unfavorable events. Such crop losses create a need for pest control to safeguard crops, leading to an increased reliance on insecticides by farmers to limit damage and ensure successful harvests. For instance, in June 2021, a report from the Food and Agriculture Organization, an Italy-based specialized agricultural agency, revealed that up to 40% of the world's food yield is lost to pests annually. Plant diseases account for over $220 billion in annual losses, and invasive insects contribute at least $70 billion to the global economy. Consequently, the surge in crop losses is propelling the growth of the insecticide market.

The growth of the agrochemicals market is likely to be constrained by concerns raised by environmentalists and eco-friendly organizations. The use of insecticides can pose significant health risks to humans, animals, and the environment. For example, in the United States, beekeepers have reported annual hive losses of approximately 30% over the past decade, primarily attributed to the increased use of insecticides in the country. Thus, the heightened awareness of the diseases and problems associated with insecticides is expected to negatively impact the market's growth in the foreseeable future.

Major companies in the insecticides market are directing their efforts towards product launches, such as the introduction of Exponus insecticide, designed to assist Indian farmers in protecting their crops from key insect pests. Exponus is a potent and versatile insecticide capable of controlling a wide range of insect pests in various crops and growth stages. For example, in April 2022, BASF SE, a Germany-based chemical company, introduced Exponus insecticide in India to aid Indian farmers in crop protection and productivity enhancement. Notably, Exponus is a low-use insecticide, allowing farmers to apply lower doses while achieving effective pest control, thereby reducing the environmental impact of crop protection practices. This product offers a quick and powerful solution for farmers to enhance crop protection, reduce costs, and promote sustainable agriculture.

Leading companies operating in the insecticides market are also focusing on product innovations, including the development of liquid multi-insecticides to help farmers manage pests and secure their livelihoods. Liquid multi-insecticides are formulated to control multiple types of insects and are available in liquid concentrate form that can be mixed with water and applied using various application methods. For instance, in January 2021, Bayer AG, a Germany-based pharmaceutical company, launched Vayego 200SC, a next-generation insecticide belonging to the diamide class. Vayego 200SC provides comprehensive control against caterpillar pests and offers translaminar and systemic activity for thorough protection. It maintains a favorable environmental profile with low toxicity to mammals and beneficial insects, making it a versatile and user-friendly choice for farmers.

Major companies operating in the insecticides market include Adama Agricultural Solutions Ltd., American Vanguard Corporation, BASF SE, Bayer CropScience AG, FMC Corporation, NuFarm Limited, Syngenta International AG, Sumitomo Chemical Co. Ltd., Monsanto Company, Arysta LifeScience Corporation, Syngenta AG, Corteva Inc., UPL Limited, Kumiai Chemical Industry Co. Ltd., Nissan Chemical Corporation, Isagro SpA, Albaugh LLC, Sinochem Corporation, Rotam CropSciences Ltd., Gharda Chemicals Limited, Meghmani Organics Ltd., PI Industries Ltd., Crystal Crop Protection Pvt. Ltd., Insecticides India Limited, Dhanuka Agritech Limited, Bharat Rasayan Ltd., Indofil Industries Limited, Meghmani Finechem Limited, Marrone Bio Innovations Inc., Certis USA LLC, Valent BioSciences LLC, BioWorks Inc., Gowan Company LLC, Sipcam Agro USA Inc., AMVAC Chemical Corporation, Nichino America Inc., OHP Inc.

Asia-Pacific was the largest region in the insecticides market in 2023. South America was the second-largest region in the global insecticides market. The regions covered in the insecticides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the insecticides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The insecticides market consists of the sales of organic insecticides, inorganic insecticides, and miscellaneous compounds. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.