Insecticides Market 2015 Share, Trend, Segmentation and Forecast Insecticides Market - Global Industry Analysis, Si

Insecticides Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2015
- 2023
Global Insecticides Market: Snapshot
The global population explosion put direct pressure on the agriculture industry to
increase its yield of crops in the immediate future. This demand for high yield crops
is the primary driver for the increasing demand for insecticides on a global level.
The demand for higher yield is further complicated by the lack of arable land in
terms of total crop output needed, compounding on the pressure for highly efficient
insecticides and fertilizers. As stated by the World Bank, farmers are expected to
increase their crop yield by 60% by 2050 in order to sustain the current increase in
global population.
The demand for insecticides goes up even further with a growing threat of pest
infestation. Climate change i.e., an increase in the global average temperatures,
has brought about a growth in the number of crop-based infections, infestations,
and weeds. Warmer winters cause most frost sensitive insects to now survive the
winter and breed again in the summers, further increasing the number of moths,
certain types of infestation beetles, aphids, and certain types of butterflies that are
detrimental to crop yield.
The growth rate of the global insecticides market is therefore considered very high,
despite it already being a large scale market. It is expected to progress at a CAGR of
5.1% from 2015 to 2023 in terms of revenue. The revenue is expected to reach
US$2.75 bn by the end of 2016 and US$3.89 bn by the end of 2023.
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market.html
APAC Demand for Insecticides Remains High
By the end of 2023, Asia Pacific is expected to hold a 38.63% share in the volume of
insecticides globally. The key reason for this is the primarily agrarian culture of the
region, especially in nations such as India. Organophosphates is the leading
insecticide type consumed in the region, similar to other major regions.
While the global average demand for insecticides is led by fruits and vegetables till
2023, it comes a close second to the leading demand for insecticides in oilseeds