by The pyrethroids market comprises pyrethroid ingredients that are used as insecticides in agricultural and non-agricultural applications. Pyrethroids are synthetic chemicals that are modeled after natural pyrethrins derived from chrysanthemum flowers. They are highly effective against many pests and have been widely adopted due to their broad spectrum activity, low toxicity to mammals, and relatively short environmental persistence. The increasing cultivation of high-value crops along with growing emphasis on food security is propelling the demand for pyrethroids in the agricultural sector.
The Global pyrethroids Market is estimated to be valued at US$ 4819.8 Bn in 2024 and is expected to exhibit a CAGR of 43% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the pyrethroids market are AVT Natural, Archer Daniels Midland Company, Blueberry Agro, Cymbio Pharma Pvt Ltd., Harrisons Malayalam Ltd., Indena S.p.A., Martin Bauer Group, Synthite Industries Ltd., Synergy Flavors, Teawolf, Martin Bauer Group., and Taiyo International.
The key opportunities in the Pyrethroids Market Size include growing demand for enriched foods and beverages, increasing application in the personal care industry, and product premiumization.
The technological advancements in the field include development of biopesticides and botanical-based pyrethroids with reduced mammalian toxicity and minimal environmental impacts.
Market Drivers
The primary driver fueling the pyrethroids market is rising consumption in agricultural activities to protect crops from pests. Pyrethroids offer excellent insecticidal properties, are highly effective even at low concentrations, and do not leave harmful residues. Additionally, bans on toxic pesticides and stringent regulations regarding the use of chemical pesticides are encouraging farmers to adopt pyrethroid-based alternatives. Growing global population and rising food demand have intensified agricultural production, thereby catalying the need for these agrochemicals.
Current challenges in Pyrethroids Market:
The pyrethroids market is facing challenges due to stringent government regulations regarding the use of synthetic pyrethroids. Many countries have banned or restricted the use of certain pyrethroids owing to environmental and health concerns. For example, the use of deltamethrin, cypermethrin, and permethrin are restricted in the EU.
Developing alternatives to synthetic pyrethroids is also a challenge as natural pyrethroids are limited in supply and have lower insecticidal activity. This forces companies to invest heavily in R&D to develop new formulations and delivery systems using pyrethroids to improve their efficacy.
SWOT Analysis
Strength: Pyrethroids are widely used due to their strong insecticidal activity against a wide range of insect pests. They are more potent than natural pyrethrins and have a lower mammalian toxicity.
Weakness: Synthetic pyrethroids are hazardous to the environment as they can persist for long periods in the soil and water. Prolonged exposure may also affect non-target organisms like fish and bees.
Opportunity: Advancements in nanotechnology and developing newer formulations and delivery systems can help improve the efficacy of pyrethroids. The market also offers opportunities for developing bio-based or degradable pyrethroids.
Threats: Strict regulations in major economies like the EU can impact sales. Alternative biotech options for insect control also pose a threat. Climate change may reduce the effectiveness of some pyrethroids.
Geographical regions:
North America currently holds the largest share in the global pyrethroids market, both in terms of production and consumption. The U.S. is one of the major consumers and producers of various types of pyrethroids.
The Asia Pacific region is expected to witness the highest growth during the forecast period. Rapid population growth and increasing crop production in countries like India and China are fueling the demand for pyrethroids in this region. Low labor costs also make this region favorable for pyrethroid manufacturing.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
