by Corinne Gangloff
January 30, 2017
While herbicides are the most significant product at the active ingredient level (in both dollar and pound terms), insecticides surpassed herbicides in 2015 to become the most significant category for formulated pesticide products due to the significantly higher markups seen in these products. Going forward, newer, safer, higher-value products will support the fastest gains in insecticides. These and other trends are presented in Agricultural Pesticide Market in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Demand for insecticide active ingredients is projected to increase 2.6 percent per year to $910 million in 2020. Volume is expected to stay flat at 57 million pounds over the same period. Even faster growth for insecticides is limited by a number of factors. The market continues to be dominated by a small handful of products, and the deregulation and introduction of new insecticides has been slow and limited. The increases in practices like integrated pest management have hampered growth in the insecticide market, and the continued success of bioinsecticides and genetically modified plants has limited the need for conventional insecticides.
Another matter impacting insecticide demand is the continued trend toward formulations with lower levels of active ingredient. This trend has resulted from several factors, including the introduction of more potent active ingredients, improved adjuvants, and concerns regarding the high levels of pesticide residues being released into the environment.
Agricultural Pesticide Market in the US (published 01/2017, 142 pages) is available for $4900 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
Related studies include:
#3457 Biocides Market in the US (December 2016)
#3456 Wood Preservative Market (November 2016)
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