The pyrethroids market has emerged as a sustainable replacement for conventional pesticides owing to trends in biological and environment-friendly products. Pyrethroids are synthetic chemicals that are derived from the seeds of Chrysanthemum cinerariifolium and mimic the chemical structure of natural pyrethrins. Some key advantages of pyrethroids include their highly effective insecticidal properties, low mammalian toxicity, and rapid breakdown in the environment. The global pyrethroids market is driven by rising demand from the agricultural sector to protect crops from various pests and insects. Pyrethroids find widespread application in commercial agriculture, home garden crops, ornamental plants, public health pest control programs, and veterinary & animal husbandry practices.
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 rising global population and rapid urbanization have increased the Pyrethroids Market Demand for food supplies, thereby driving agricultural production. With the need to increase crop yields and protect crops from pests and insects, the usage of pyrethroids as effective and eco-friendly pest control agents has grown substantially.
Geographic expansion into emerging nations in Asia Pacific, Latin America, and Africa has also contributed to the growth of the pyrethroids market. Government support for sustainable agricultural practices and investments in R&D of biological products are helping key players strengthen their positions in developing markets.
Market Key Trends
One of the key trends driving the pyrethroids market is the growing preference for natural and organic products among consumers. With increasing awareness about toxic effects of chemical pesticides, farmers are shifting to biological treatments like pyrethroids. Their insecticidal properties and rapid breakdown make pyrethroids suitable for organic farming practices. Leading manufacturers are also focused on developing new generations of Pyrethroids Market with improved efficiency and minimal environmental impact to capitalize on the organic trend.
Porter’s Analysis
Threat of new entrants: Regulations to promote safety standards act as entry barriers for new players in the market. Bargaining power of buyers: Buyers possess significant bargaining power due to the presence of many regional and global players offering pyrethroids products. Bargaining power of suppliers: Suppliers have moderate bargaining power due to established market presence of major raw material suppliers globally. Threat of new substitutes: Potential threat from organic-based substitutes that are considered safer alternatives. Competitive rivalry: Intense competition among existing players to expand market share through innovation and strategic partnerships.
Geographical Regions
North America held the largest share of the global pyrethroids market in terms of value in 2023, accounting for around 35% share. Increased demand from the agriculture and pest control industries drives the market in the region. Asia Pacific is projected to be the fastest growing regional market between 2024 and 2031, estimated to expand at a CAGR of over 45%. China accounts for the major consumption of pyrethroids products in Asia Pacific due to large-scale agriculture and growing pest control industry.
Europe has historically been one of the prominent markets for pyrethroids, dominantly driven by demand from Germany, France, and the UK. However, regulations restricting generic pyrethroid formulations along with preference toward biopesticides are expected to slightly impact European market growth during the forecast period. The Latin American pyrethroids industry is dominated by Brazil and Argentina. Growth in Latin America will be supported by expansion of the agriculture industry and pest prevention applications in urban areas over the next years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
