 |
| Pyrethroids Market |
The pyrethroids market has witnessed significant growth over the past few years owing to increasing demand from the agriculture industry. Pyrethroids are synthetic insecticides that are structurally similar to the natural pyrethrins produced by flowers of the pyrethrum daisy. They are developed to replicate the effect of pyrethrins but are more toxic and stable. Compared to organophosphates and carbamates, pyrethroids are less toxic to mammals and birds and have lower environmental impacts. They are widely used for controlling various insects including aphids, spider mites, leafhoppers, and caterpillars on food crops. The growing global population and rising demand for high agricultural yield is fueling the adoption of pyrethroids across developing regions to protect crops from pests and insects. Additionally, stringent regulations on the use of toxic agrochemicals and consumer preference for organic food is propelling the demand for pyrethroids in agricultural applications.
The Global pyrethroids Market is estimated to be valued at US$ 4819.8 Bn in 2024 and is expected to exhibit a CAGR of 43% over the forecast period of 2024 to 2031.
Key Takeaways
Key players operating in the pyrethroids market are AVT Natural, Archer Daniels Midland Company, Blueberry Agro, Cymbio Pharma Pvt Ltd., Harrisons Malayalam Ltd., Indena S.p.A., Martin Bauer Group, Synthite Industries Ltd., Synergy Flavors, Teawolf, Martin Bauer Group., and Taiyo International. These key players collectively account for a substantial share of the global market. AVT Natural and Archer Daniels Midland Company are the largest producers of natural pyrethrins globally.
The Pyrethroids Market Demand is expected to witness lucrative growth opportunities owing to rising demand for organic food and stringent regulations against toxic agrochemicals in European and North American countries. The key players are investing heavily in research & development to develop sustainable and environment-friendly pyrethroid formulations to leverage emerging opportunities.
Geographically, the Asia Pacific region dominated the global pyrethroids market and is estimated to exhibit significant growth over the forecast period supported by rising agricultural production, growing population, and increasing pest infestation in major crop producing countries like India and China. Europe and North America are anticipated to witness steady growth propelled by stringent norms and consumer shift towards organic food. The key players are focusing on expanding their manufacturing capacities and distribution networks in emerging economies through strategic acquisitions and partnerships.
Market Drivers
- Increasing adoption of integrated pest management programs globally is a key driver as it relies extensively on the use of pyrethroids for controlling pests and insects. Concerns regarding pest resistance to traditional chemicals and environmental impacts is elevating the demand.
- Growing organic farmland and sustainable agricultural practices especially in European countries is augmenting the demand for pyrethroid-based pest control solutions as they are naturally derived and biodegradable.
Market Restrains
- Stringent regulations regarding the use of certain pyrethroids owing to their carcinogenic properties mainly in EU and California state pose potential challenges to market players.
- Volatility in raw material prices directly impacts the production cost of pyrethroids. Cypermethrin, one of the key pyrethroid compounds, witnesses significant supply constraints affecting overall market growth.
Segment Analysis
The pyrethroid market is segmented based on the type as pyrethrin, permethrin, cypermethrin, deltamethrin, fenvalerate, and others. Among these, the deltamethrin segment dominates the market and accounts for over 20% share owing to its higher insecticidal activity as compared to other pyrethroids. It is widely used in mosquito nets, coils, liquid vaporizers, and aerosols. Deltamethrin provides effective and longer-lasting protection against mosquitoes carrying malaria, dengue, chikungunya, zika, and other infectious diseases.
Global Analysis
Regionally, Asia Pacific dominates the pyrethroid market with over 40% share. This is attributed to strong demand from countries like India and China where agribusiness forms the backbone of their economies. These countries extensively use pyrethroids for crop protection. North America is another major market fueled by rising infestation of household pests like cockroaches, ants and demand for insect-repellent applications in homes as well as outdoor recreational areas. Europe also offers lucrative opportunities owing to stringent regulations for synthetic pyrethroids and development of bio-based alternatives. Japan, South Korea and other Asia Pacific countries continue to be emerging hotspots driven by increasing government support for integrated pest management programs.
Get more insights on Pyrethroids Market
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
Comments
Post a Comment