Published Date : Mar 16, 2016
A rise in the average global temperature along with a general deterioration of the climate all across the globe is resulting into the growth of various kinds of insects, which inflict damage to crops. The insects introduce new diseases among the crops through bacterial and fungal deposition. The demand for insecticides is thus rising to eliminate the growth of these harmful insects, fungus, and bacteria. The chemicals from the insecticides enter into the insect’s body and poisons them, thus saving the crops from further damage. A growing need for better quality crops and the growing threat of insects are collectively driving the global insecticides market.
Demand for Organophosphate Product Segment to Decline Due to Harmful Impact on Food Chain
Organophosphate which was the largest product segment in 2014, by accounting for over 50% of the market share is expected to lose its hold in the market. This is because, these insecticides are derived from phosphoric acid which can be effective over a wide spectrum, resulting in the intoxicating bees, wildlife, and even humans. Thus even though the organophosphate insecticide was highly effective and widely used on fruits, vgetables, cotton, and cereal grains to control infestation, they are likely to be withdrawn from the market due to their harmful impact in the food chain. According to a report published by Transparency Market Research, the carbamates segment is estimated to be the fastest growing segment during the period 2015 to 2023.
Fruits and Vegetables to be the Largest Crop Segment under Pest Attack
The global insecticides market is segmented on the basis of type of crop into: oilseeds and pulses, cereals and grains, fruits and vegetables, and others. Out of these, the fruits and vegetables segment was the largest crop segment in 2014, owing its dominance to citrus fruits and leafy vegetables as they are the most affected crops by insects and pests. The cereals and grains segment as well as the oilseed and pulses segment were the second largest categories of crops to be affected by insects and pests.