Cypermethrin insecticide is a synthetic pyrethroid insecticide widely used for agricultural and domestic pest control. It acts as a contact and stomach poison effective against a wide range of insects including flies, ants, cockroaches, moths and other pests. Cypermethrin insecticide is commonly applied as an agricultural spray for controlling various insects and pests that damage crops. The growing demand for food crops along with rising pest infestation has increased the adoption of cypermethrin insecticide globally.
The Global Cypermethrin Insecticide Market is estimated to be valued at US$ 2.79 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Cypermethrin Insecticide Market Demand are Caveman Foods LLC, The Kellogg Company, General Mills, Inc., Mondelēz International, Inc. (Clif Bar & Company) and The Simply Good Foods Company (Quest Nutrition LLC) are the major companies operating in the Protein Bar Market. These players are focusing on new product launches and expansion activities to strengthen their market presence. For instance, in 2020, Caveman Foods LLC launched a new line of high protein snack bars to cater to the growing demand.
The growing organic and conventional farming practices globally present lucrative opportunities for market players. Countries like China, India, Brazil, US and others are witnessing rapid agricultural development which is increasing the demand for cypermethrin insecticides. Further, the expansion of e-commerce channels for agrochemical sales has made cypermethrin insecticides more accessible for farmers globally.
The rising pest problem in new geographies due to changing climate conditions is prompting leading manufacturers to expand their presence in Latin American and Asian countries. For example, in 2021, Sumitomo Chemical expanded its production of cypermethrin in Thailand to meet the growing insecticide demand from Southeast Asian nations.
Market drivers: Wide insecticidal spectrum and high crop protection make cypermethrin a preferred choice for farmers globally. Further, the easy availability and cost-effectiveness compared to newer chemicals is driving its demand.
Market Restrain: Stringent regulations over pesticide residues and emergence of resistant pest populations can hamper the market growth to some extent over the forecast period.
Segment Analysis
The Cypermethrin Insecticide market is segmented into powder, emulsion, and liquid based on form. The powder segment dominates the market owing to its longer shelf life and effective transportation. Powder insecticides are economical in nature and offer a long lasting effect against insects when applied as dust or mixed with water for spraying.
The market is further segmented based on crop type into cereals & grains, oilseeds & pulses, fruits & vegetables and other crop types. Cereals and grains segment dominates the market as Cypermethrin insecticides are widely used to control numerous insect pests that damage crops like rice, wheat and corn. Rice is one of the most important cereal crops cultivated worldwide and heavily relies on insecticides like Cypermethrin for production.
Global Analysis
Asia Pacific dominates the global Cypermethrin Insecticide market and is expected to continue its dominance during the forecast period. This is attributed to the large agriculture sector in countries like China and India which are among the largest producers and consumers of agricultural crops globally. Additionally, changing climate conditions and spread of insect infestations has boosted the adoption of effective insecticides in the region. North America and Europe are other major markets due to stringent food safety regulations mandating the use of certified insecticide formulations. However, growth rates are expected to be higher in Latin America and Middle East & Africa owing to rapid expansion of cultivated areas and rising exports of agricultural commodities from these regions over the coming years.
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