High demand for insect ides from agriculture industry supplement the growth of the Beta-cyfluthrin market

 

Beta-cyfluthrin Market

Many insecticides are available, but Beta-cyfluthrin is one of the most commonly used. There are many forms of this insecticide, which can be found in sprays, powder, granules, and liquids. This chemical is not only used for commercial use, but it is also a component of many insecticides found at home. This makes it safe for use on many common fruits and vegetables, but its health hazards have been studied and the Food and Drug Administration (FDA) has determined that it is generally safe to use. However, there are some circumstances where this chemical should not be used, especially when applied to large or growing plants such as tomatoes and peppers.

Increasing demand for insecticide and household pesticides is fostering the growth of the Beta-cyfluthrin market. It is used to kill a wide range of insects such as grasshoppers, butterflies, beetles, moths, and weevils. The growing adoption of advanced agriculture practices due to increasing demand for food is again contributing to the market growth. Rapid urbanization around the globe is another key factor augmenting the growth of the Beta-cyfluthrin market. According to the United Nations Population Fund, more than half of the world’s population now lives in towns and cities, and by 2030 this number will swell to about 5 billion. Much of this urbanization will unfold in Africa and Asia, bringing huge social, economic, and environmental transformations.

Furthermore, increasing crop production and the need to protect the crop from pests is also boosting the use of insecticide which is further projected to augment the growth of the Beta-cyfluthrin market. According to the India Brand Equity Foundation, during the 2019-2020 crop year, food grain production was estimated to reach a record 295.67 million tonnes (MT). In 2020-21, the Government of India is targeting food grain production of 298 MT.

The Asia Pacific is projected to gain significant growth over the forecast period and this is attributed to the high demand for pesticides and insecticides from the agriculture industry. According to the data published by Down To Earth, India used 69,282 tonnes of pesticides (chemical and biopesticides combined) in 2017-18, a sharp increase from the 61,273 tonnes used in 2014-15 and 16 percent higher than pesticides used in 2015-16.

Key Developments:

1.      In July 2018, Agrochemical firm Parijat Industries has launched three new products Aadat, Tegata & Rakha in India this Kharif season for control of different insects, pests, and diseases and to improve farmers' yield.


Location: India

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