The global pyrethroids market is transforming the pest management industry by providing sustainable and eco-friendly solutions. Pyrethroids are synthetic insecticides modeled after natural pyrethrins produced by certain chrysanthemum flowers. They are commonly used in agricultural applications and household insecticide sprays and creams to control pests such as mosquitoes and flies. Some key properties of pyrethroids include their low mammalian toxicity, high insecticidal activity, photostability, and low costs of production.
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 from 2024 to 2030.
Key Takeaways
Key players: 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.
Growing demand: Increasing demand for organic and sustainable agricultural products is driving the demand for pyrethroids. Strict regulations regarding the use of harmful chemicals and growing preference for eco-friendly options are some factors augmenting the growth of the pyrethroids market.
Global expansion: Leading manufacturers are expanding their presence globally especially in rapidly developing markets of Asia and Latin America to tap the increasing demand. R&D investments for development of advanced formulations are helping key players strengthen their foothold.
Market key trends
One of the key trends in the Pyrethroids Market Size is the development of novel delivery systems. Continuous innovations are helping improve the effectiveness, stability and performance of pyrethroids. Companies are investing in research for nanotechnology based formulations such as microencapsulation that could provide controlled release of active ingredients and target specific pests. This helps reduce the quantity of pesticides used and enhances their sustainability profile.
Porter’s Analysis
Threat of new entrants: The requirements of high level licenses, certifications and manufacturing facilities needed to operate commercially acts as a hurdle for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and wide range of players.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternate supply options in market for raw materials.
Threat of new substitutes: The threat is moderate due to availability of well-established substitute products like organophosphates.
Competitive rivalry: Intense competition exists among existing players owing to the factors like pricing strategies, product differentiation and production capacity.
The geographical region where the Pyrethroids Market is most concentrated in terms of value is Asia Pacific. Countries like India, China dominate the market due to large scale agriculture practices and high crop production.
The fastest growing region for pyrethroids market is North America. Favorable regulations supporting commercial agriculture coupled with growing demand for natural insecticides is fueling market growth in the region.
Geographical Regions
The geographical region where the pyrethroids market is most concentrated in terms of value is Asia Pacific. Countries like India, China dominate the market due to large scale agriculture practices and high crop production.
The fastest growing region for pyrethroids market is North America. Favorable regulations supporting commercial agriculture coupled with growing demand for natural insecticides is fueling market growth in the region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
