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Pyrethrin Market Overview
Pyrethrin, a compound derived from the pyrethrum plant, serves as an ideal pest control agent. It is vastly used as an insecticide to guard crops from mites and insects, including moths and thrips. It also finds application in pet shampoos, to prevent tick bites in animals. Owing to this ability of it to serve as a poison for pests, the compound witnesses a high demand from the agricultural sector.
On the basis of application, the pyrethrin market has been categorized into agricultural insecticides, household insecticides, industrial, animal healthcare, and others. A significant market demand is expected to arise from the agricultural insecticides application during the forecast period, owing to the large-scale usage of the chemical in agricultural pest control. In addition, household insecticides are likely to witness a significant increase in demand, with the rise in their usage at home and in gardens. This, in turn, is expected to propel the global market for the chemical.
Geographically, the pyrethrin market has been categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA). The demand for the chemical is expected to witness a considerable rise in the APAC and North American regions, during the forecast period. This can be attributed to the surge in health concerns in countries such as U.S. and Canada, which create a high-volume demand for household insecticides. In addition, insecticides witness a high requirement from agriculture-based economies, including China and India.
Pyrethrin Market Dynamics
In the recent past, there has been a rapid increase in the cases of chikungunya, yellow fever, and dengue fever, caused by bites from insects, such as lice, bed bugs, and mosquitos. Owing to the rising awareness about the diseases caused by insects, which have a high prevalence, the demand for insecticides has witnessed an increase, particularly in developing nations, such as China, India, Brazil, and Thailand. In order to meet the demand for insecticides, arising from the household sector, the consumption of pyrethrin is projected to increase during the forecast period, thereby helping the market of the compound to grow.
Owing to its non-toxic nature, the compound holds a high potential of growth in the coming times. In addition, it has the ability to replace traditionally used insecticides, such as organochlorine pesticides. Organochlorine pesticides are highly toxic in nature, and with the increasing health and environmental concerns, consumers are likely to switch to pyrethrin insecticides. This, in turn, is expected to serve as an opportunity for the pyrethrin market during the forecast period.
Pyrethrin Market Competitive Landscape
Some of the players in the global pyrethrin market are Bayer AG, Sumitomo Chemical Co. Ltd., McLaughlin Gormley King Company, Horizon Sopyrwa, Botanical Resources of Australia Pty. Ltd., and KAPI Limited.
Segmentation of the Global Pyrethrin Market
The report offers the size of the global pyrethrin market for the period 2014–2030.
Market Segmentation by Application
Market Segmentation by Geography