Cypermethrin insecticide is a type of synthetic pyrethroid insecticide widely used for agricultural and household purposes to control insect pests. It acts on the sodium channels of nerve cells in insects, causing repetitive firing of the nerves and convulsions in the affected insect. Cypermethrin insecticide is colorless, biodegradable and breaks down readily in soils and aquatic sediments, therefore posing minimal risk to the environment when used as directed. It is effective against a broad array of pests such as armyworms, corn earworms, Colorado potato beetles, and other leaf-eating insects and burrowing pest insects affecting crops such as cotton, grains, vegetables and fruits.
The global Cypermethrin Insecticide Market is estimated to be valued at US$ 2.79 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing demand from agriculture industry is expected to flourish the Cypermethrin Insecticide Market over the forecast period. Agriculture is the major end user industry for cypermethrin insecticide as it is widely used as an insecticide on numerous food crops as it controls a wide range of sucking and chewing insect pests. According to United Nation’s Food and Agricultural Organization (FAO), the global need for agricultural production is projected to increase by around 60 percent by 2050 in order to meet the food demand of growing population which is expected to reach around 9.7 billion by 2050. This increasing demand for food products is anticipated to propel the growth of agriculture industry and subsequently boost the adoption of cypermethrin insecticide during the forecast period. Moreover, increasing demand for high yield and high quality food crops is further escalating the market growth.
Segment Analysis
Cypermethrin Insecticide Market is segmented based on type, crop type, application method and region. The technical cypermethrin segment accounts for the largest market share as of 2024 due to its high efficacy against various insect pests. It is dominating the market as it provides better control over sucking and chewing pests as compared to other types.
PEST Analysis
Political: Stringent regulations regarding pesticide usage and bans on certain types in many countries will affect the market. However, growth opportunities will rise from approval of new active ingredients.
Economic: Rising population and disposable incomes are leading to increase in global food production which will drive the demand for effective crop protection chemicals. Fluctuations in foreign currencies can impact prices.
Social: Consumers are demanding residue-free food items. This has led producers to reduce pesticide quantities used during farming which provides scope for biopesticides.
Technological: Advancements in formulation technologies help in developing more targeted delivery systems which lowers pesticide usage and residues. Investments in research of new molecules will also influence the market.
Key Takeaways
The Global Cypermethrin Insecticide Market Growth is expected to witness high over the forecast period. The global Cypermethrin Insecticide Market is estimated to be valued at US$ 2.79 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031.
Regionally, Asia Pacific accounts for the largest market share currently due to the large agricultural sector and crop area under production. The region is expected to continue dominating the market owing to growing population and food demand.
Key players operating in the Cypermethrin Insecticide Market are Caveman Foods LLC, The Kellogg Company, General Mills, Inc., Mondelēz International, Inc. (Clif Bar & Company) and The Simply Good Foods Company (Quest Nutrition LLC). Caveman Foods LLC holds a major market share currently due to its wide distribution network and brand visibility. The company is focused on expanding its product portfolio through acquisitions and new product launches catering to unique consumer segments.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
