The Business Research Company’s Insecticides Global Market Report 2021 – COVID-19 Impact And Recovery
LONDON, GREATER LONDON , UK, September 21, 2021 /EINPresswire.com/ — The world population is growing and is expected to reach 10 billion by 2050, which is expected to significantly boost the global insecticides market. Increase in population creates more demand for food. Crop production, farming activities and trade volumes will have to increase in order to meet increased population. Additionally, farmers and commercial farming companies will increase acquisitions in arable land to increase crop production, which is expected to increase the demand for herbicides. In order to meet the food demand that may rise from 59% to 98%, farmers have to increase agricultural productivity through fertilizers and advanced technologies in farming. Thus, the increase in demand for food for the growing population will promote the growth of the insecticides market.
The global insecticides market size is expected to grow from $16.68 billion in 2020 to $17.63 billion in 2021 at a compound annual growth rate (CAGR) of 5.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $22.86 billion in 2025 at a CAGR of 7%.
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In March 2018, Sumitomo Chemical, a major Japanese chemical company acquired 82.9% of shares in Botanical Resources Australia Pty Ltd and its affiliated companies (the BRA group), making it a consolidated subsidiary. The BRA group is a global leader in the production of the natural insecticide active ingredient, Pyrethrin.
Major players covered in the global insecticides industry are Adama Agricultural Solutions Ltd, American Vanguard Corporation, BASF SE, Bayer CropScience AG, FMC Corporation, NuFarm Limited, Syngenta International AG, Sumitomo Chemical Co., Ltd., Monsanto Company, Arysta Lifescience.
TBRC’s global insecticides market is segmented by type into synthetic insecticides, bio-insecticides, by application into cereals and grains, oilseeds & pulses, fruits & vegetables, others, by form into sprays, baits, strips.
Insecticides Global Market Report 2021 – By Type (Synthetic Insecticides, Bio-insecticides), By Application (Cereals and Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), By Form (Sprays, Baits, Strips), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides insecticides market overview, forecast insecticides market size and growth for the whole market, insecticides market segments, and geographies, insecticides market trends, insecticides market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Here Is A List Of Similar Reports By The Business Research Company:
Pesticide And Other Agricultural Chemicals Global Market Report 2021 – By Type (Herbicides, Insecticides, Fungicides, Other Pesticide And Other Agricultural Chemicals), By Origin (Synthetic, Bio-Based), By Application (Grains and Cereals, Pulses and Oilseeds, Commercial Crops, Fruits and Vegetables), COVID-19 Impact and Recovery
Fungicides Global Market Report 2021 – By Type (Synthetic Fungicides, Bio-fungicides), By Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), By Active Ingredient (Dithiocarbamates, Benzimidazoles, Chlorinities, Triazoles, Phenylamides, Strobilurins), By Treatment (Seed Treatment, Soil Treatment, Foliar Spray, Chemigation, Post-Harvest), COVID-19 Impact And Recovery
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Source: EIN Presswire