Published Date : Mar 07, 2016
The global market for insecticides is witnessing impressive growth in its valuation. The increasing requirement for healthy crops has boosted the demand for insecticides significantly in the global arena. In addition to this, the rising depletion of arable lands is projected to fuel the worldwide market for insecticides substantially in the near future.
Asia Pacific to Retain Leading Position in Global Insecticides Market
Asia Pacific acquired the leading position in the global insecticides market in 2014 with a share of more than 40%. Asia Pacific was closely followed by Europe, North America, Latin America, and the Middle East and Africa, among which, the Middle East and Africa held the smallest share.
On account of favorable climatic conditions for insect infestation in Asia Pacific, the demand for insecticides in this region is likely to fuel extensively, retaining the leadership of the Asia Pacific insecticides market over the next few years.
The markets for insecticides is North America and Europe are highly regulated, owing to which both the regional markets are expected to show steady growth in the coming years. On the other hand, the insecticides markets in Latin America and the Middle East and Africa are projected to experience moderate growth in the near future.
Rising Threat of Pest Infestation Propels Demand for Insecticides
The rising threat of pest infestation is propelling the demand for insecticides across the world. However, the increasing uptake of highly developed crop protection practices by farmers and agriculturalists is likely to restrict the growth of this market in the forthcoming years. Other important factors, influencing the demand for insecticides significantly are:
ADAMA Agricultural Solutions Ltd., Bayer AG, DuPont, Syngenta AG, and Nufarm Ltd. are some of the key insecticides makers across the world.