Organophosphate Insecticides Market Forecasts to 2028 – Global Analysis By Active Ingredient (Methamidophos, Chloropyriphos, Parathion and Other Active Ingredients), Form (Dry and Liquid), Application and By Geography
According to Stratistics MRC, the Global Organophosphate Insecticides Market is accounted for $6.60 billion in 2022 and is expected to reach $8.74 billion by 2028 growing at a CAGR of 4.8% during the forecast period. Organophosphate insecticides are widely used for pest management in households, business environments, and agriculture. Organophosphate insecticides are ester derivatives of phosphoric acid that are commonly used in agriculture because to their rapid breakdown rates. OP compounds are the most frequently used pesticides in the world, and their metabolites are employed by a wide range of people. They are typically employed on insects such as ants, termites, spiders, and many others since organophosphate pesticides degrade quickly and have a shorter lifetime in the environment.
According to Food and Agriculture Organization of the United Nation (FAO) cereal demand is expected to increase around 3 billion metric ton by 2050, up from today’s almost 2.1 billion metric ton.
Market Dynamics:Driver: Growing risk of contamination in crops and livestock feed
The market for organophosphate insecticides is predicted to expand over the forecast period, owing to the increased danger of chemical contamination in livestock feed and rising insect occurrences in crops. With the world's population growing, better pesticide technologies are essential for sustainable food production. The implementation of severe food safety standards, advances in agricultural technologies, and worldwide commerce of food commodities are driving the global organophosphates insecticides market.
Restraint:Strict regulations
One of the biggest constraints is the strict limitations imposed on the use of organophosphate insecticides. These insecticides are regulated by a variety of government agencies, including the US Environmental Protection Agency (EPA) and the European Union, due to their potential toxicity. These organisations' restrictions restrict the use of organophosphate insecticides to specific crops and geographical areas. This is limiting the growth of the organophosphate insecticide market.
Opportunity:Increasing food trade
Expanding food trade between emerging markets' borders increases the market's potential for expansion. The increased frequency of food-borne illnesses, as well as inadequate sanitation and processing conditions in factories in a few nations, necessitate the use of organophosphate insecticides in food. The implementation of rules in rising economies that have entered the food trade, as well as the authority of authorities to prevent the import and supply of contaminated food and enforce food recalls, are likely to raise demand for insecticides in these regions.
Threat:Availability of alternatives
There are a variety of different pesticides that can be used to manage the same pests as organophosphate insecticides. Organophosphate insecticides are very toxic and can cause a variety of health problems, including brain damage, cancer, and endocrine disruption. These alternatives are frequently less hazardous and more effective, making them a popular choice among farmers and pest control professionals. This is causing a decrease in the usage of organophosphate insecticides, which is limiting market growth.
Covid-19 Impact
COVID-19 has proven to be a stumbling block in the market for organophosphate pesticides. The corona virus outbreak has caused delays in deliveries of organophosphate insecticides and other food equipment from yards due to staff and supply constraints, as well as lockdown. The agrochemical industry experienced a revenue collapse, which had a moderate influence on the organophosphate insecticides market, slowing its expansion.
The glyphosate segment is expected to be the largest during the forecast period
The glyphosate segment is estimated to have a lucrative growth. The rising demand for organophosphate insecticides for weed control on fields is propelling the market forward. Weeds harm crops by absorbing water, sunshine, and nutrients, as well as acting as a vector for deadly plant infections. Furthermore, glyphosate is absorbed by the foliage and roots of plants and inhibits plant enzymes involved in the synthesis of amino acids such as tyrosine, tryptophan, and phenylalanine. Whereas the destruction of enzyme stops the growth of weeds and results in better agricultural productivity.
The grains and cereals segment is expected to have the highest CAGR during the forecast period
The grains and cereals segment is anticipated to witness the highest CAGR growth during the forecast period owing to the increasing cereal production and consumption. Increased demand for grains and cereals is causing farmers to apply insecticides to remove weeds and pests, which is boosting the expansion of the organophosphate pesticides industry. Producers are working on increasing output and quality by utilising effective insecticides.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing demand for affordable and efficient insecticide. The region's growing residential and industrial areas, along with shrinking arable land, have increased demand for crop protective goods, which is likely to boost sales of organophosphate insecticides. Rapid industrialization and urbanisation in rising economies such as China have reduced farming acreage, driving up demand for organophosphate insecticides for improved agricultural productivity.
Region with highest CAGR:North America is projected to have the highest CAGR over the forecast period, due to the presence of prominent market players such as Valent USA LLC, FMC Corporation, and others. Rising residential and industrial areas, along with shrinking arable land, have increased demand for crop protective products, which are likely to drive regional market expansion. The growing residential area in the United States and Canada is predicted to increase demand for pest or insect control products such as organophosphate insecticides.
Key players in the marketSome of the key players profiled in the Organophosphate Insecticides Market include Syngenta AG, Bayer CropScience AG, ADAMA Agricultural Solutions Ltd, Valent USA LLC, FMC Corporation, BASF SE, Monsanto Company, American Vanguard Corporation, Nufarm Ltd., Dow Agriscience LLC, Isagro SpA and UPL Limited.
Key Developments:In March 2018, Bayer CropScience signed an agreement to acquire Monsanto. This acquisition is expected to help Bayer to improve its product range and consumer base, worldwide.
In January 2018, Adama Agricultural Solutions announced the acquisition of Hubei Sanonda Co., Ltd. This acquisition can help Adama Agriculture Solutions to increase its prominence in the Asian market.
Active Ingredients Covered:
• Methamidophos
• Chloropyriphos
• Parathion
• Diazinon
• Glyphosate
• Dimethoate
• Malathion
• Other Active Ingredients
Forms Covered:
• Dry
• Liquid
Applications Covered:
• Fruits and Vegetables
• Pulses and Oilseeds
• Grains and Cereals
• Commercial Crops
• Other Applications
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements