Worlds First Bioinsecticide, Bayer Announced the Launch for Arable Crops
Author: Precedence Research
One of the top companies for insecticides market, Bayer CropScience AG, annouunced to launch the world’s first bioinsecticide for arable crops. Earlier in 2024, Bayer CropScience in agreement with AlphaBio Control got exclusive rights to market a biological insecticide in a first ever instance. This insecticide will be a huge help for farmers to control pests in arable crops. This shows the commitment by Bayer to their vision of ‘producing more while restoring more’.
Insecticides continue to be one of the largest segments within the global pesticide market, which has surpassed $70 billion in value. Notably, biological insecticides are gaining increasing traction, with adoption rates among farmers increasing by over 20% in the past five years. This shift is largely driven by the rising consumer demand for sustainable and organic farming practices.
Countries in Asia Pacific like China, Turkey and India are the prominent markets for insecticides. In India, nearly 70% of the population depends on the agricultural sector contributing a significant amount to the country’s economy. These insecticides help protect the crops, which helps farmers maintain productivity. The Asia Pacific region overall plays an important part in the insecticide market.
Insecticides Market Size and Forecast
The global insecticides market size reached USD 20.46 billion in 2023 and is projected to hit around USD 34.74 billion by 2033, expanding at a CAGR of 5.43% from 2024 to 2033. The Asia Pacific insecticides market size is calculated at USD 7.35 billion in 2024.
Insecticides Market Key Takeaways
- Asia-Pacific dominated the insecticides market in 2023. The insecticide market in the region was valued at USD 7.03 billion in 2023.
- North America shows a significant growth in the market during the forecast period. The rising food production in this region is predicted to aid market growth for insecticides.
- By origin, the synthetic segment dominated the market in 2023. These synthetic compounds are specially designed to get rid of insects like worms or mites.
- By origin, the organic segment is observed to be the fastest growing market during the forecast period. These compounds are becoming a popular choice because they are chemical free which is better for plant as well as human health.
- By type, the systematic insecticide segment dominated the insecticides market in 2023. The systematic pesticides end up inside the plants via methodical dispersal.
- By type, the contact insecticide segment is observed to be the fastest growing market during the forecast period. This type of insecticides aims at specific targets, similar to bullets.
- By product, the carbamates segment dominated the market in 2023. These insecticides are useful for getting rid of pests and also, can be detoxified quickly from human body.
- By product, the organochlorine segment is observed to be the fastest growing market during the forecast period.
- By insect pest type, the sucking pest insecticide segment dominated the market in 2023. The insects that feed via sucking like whiteflies, mites etc., could affect the quality of the crop.
- By application, the grains and cereals segment dominated the insecticides market in 2023. These crops can be protected from pests and any cross-contamination of the produce affecting health by insecticide applications.
- By application, the fruit and vegetables segment show a notable growth in the market during the forecast period. Such crops are consumed widely and are in demand. The quality and yield by these crops must be maintained.
Insecticides Market Report Scope
| Report Coverage |
Details |
| Market Size in 2023 |
USD 20.46 Billion |
| Market Size in 2024 |
USD 21.38 Billion |
| Market Size by 2033 |
USD 34.74 Billion |
| Market Growth Rate |
5.43% |
| Leading Region |
Asia Pacific |
| Base Year |
2023 |
| Forecast Period |
2024 to 2033 |
| Segments Covered |
Origin, Type, Product, Insect Pest Type, Application, and Regions |
| Regions Covered |
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Insecticides Market Key Players
- Syngenta International AG
- Bayer CropScience AG
- BASF SE
- FMC
- Corteva Agriscience
- Nufarm Limited
Recent Highlights from the top Insecticide Companies
- In April 2024, Syngenta’s three products – Tymirium, Adepidyn, both fungicides and Plinazolin, are on the track to reach USD 1 billion per year in sales globally. This fits with the vision to develop innovative products and get them in the market quickly.
- In May 2024, BASF introduced a new insecticide called Efficon in India. This product will help farmers protect their crops from sucking pests.
- In August 2024, FMC unveiled three new innovative crop protection solutions for farmers in India. These solutions are a combination of science and innovation which will help the evolving needs of farmers in the country.
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