Insecticide Market

The global insecticide market is expected to see steady growth in both volume and value terms, driven by increasing demand for insecticides worldwide. Market performance is forecasted to continue an upward trend, with a projected increase in market volume to 4.1M tons by 2030. In value terms, the market is anticipated to reach $38.8B by the end of 2030. In 2022, global insecticide consumption contracted, but overall consumption trend over the years has been resilient. The countries with the highest consumption and production levels are identified, with Turkey showing significant growth rates in both consumption and production. Import and export trends are also analyzed, with China being the largest exporter of insecticides. Average prices and notable fluctuations in prices are also discussed in the article.

Market Forecast

Driven by increasing demand for insecticides worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market volume to 4.1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.0% for the period from 2022 to 2030, which is projected to bring the market value to $38.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Insecticides

In 2022, global insecticide consumption contracted to 2.9M tons, waning by -7.8% against 2021. Overall, consumption, however, enjoyed a resilient increase. Over the period under review, global consumption reached the maximum volume at 3.6M tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global insecticide market revenue fell slightly to $26.3B in 2022, with a decrease of -3.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.7% against 2020 indices. Over the period under review, the global market attained the peak level at $28.8B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Turkey (546K tons), China (372K tons) and the United States (171K tons), with a combined 37% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Turkey (with a CAGR of +24.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($4B), Brazil ($2.5B) and Turkey ($2.2B) constituted the countries with the highest levels of market value in 2022, with a combined 33% share of the global market.

Among the main consuming countries, Turkey, with a CAGR of +21.8%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of insecticide per capita consumption was registered in Turkey (6.4 kg per person), followed by Spain (2.4 kg per person), France (0.9 kg per person) and Italy (0.9 kg per person), while the world average per capita consumption of insecticide was estimated at 0.4 kg per person.

From 2012 to 2022, the average annual growth rate of the insecticide per capita consumption in Turkey amounted to +22.5%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Spain (+17.2% per year) and France (+2.9% per year).

Production

World Production of Insecticides

In 2022, the amount of insecticides produced worldwide reduced to 3M tons, falling by -7.2% on the year before. In general, production, however, saw a prominent expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by 48% against the previous year. Global production peaked at 3.6M tons in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, insecticide production reduced to $23.7B in 2022 estimated in export price. Overall, production, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 39%. Global production peaked at $26.9B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (751K tons), Turkey (554K tons) and India (296K tons), with a combined 54% share of global production.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +24.6%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Insecticides

After five years of growth, supplies from abroad of insecticides decreased by -4.6% to 1.1M tons in 2022. The total import volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 16% against the previous year. Over the period under review, global imports reached the peak figure at 1.2M tons in 2021, and then contracted slightly in the following year.

In value terms, insecticide imports rose remarkably to $12.3B in 2022. In general, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.5% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 15% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports By Country

In 2022, Brazil (157K tons), distantly followed by the United States (57K tons) represented the key importers of insecticides, together achieving 19% of total imports. The following importers - Italy (36K tons), France (34K tons), Thailand (33K tons), Bangladesh (25K tons), Vietnam (25K tons), Nigeria (24K tons), Indonesia (22K tons), Spain (21K tons), Belgium (20K tons), the Philippines (19K tons) and Canada (18K tons) - together made up 25% of total imports.

Imports into Brazil increased at an average annual rate of +7.0% from 2012 to 2022. At the same time, the United States (+8.5%), Bangladesh (+6.9%), Belgium (+6.7%), Italy (+6.6%), France (+5.4%), Thailand (+4.4%), Vietnam (+3.9%), Nigeria (+3.5%) and Spain (+1.0%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing importer imported in the world, with a CAGR of +8.5% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, the Philippines (-3.2%) and Canada (-4.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, the United States and the Philippines increased by +3.7, +1.8 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($2.8B) constitutes the largest market for imported insecticides worldwide, comprising 23% of global imports. The second position in the ranking was taken by France ($503M), with a 4.1% share of global imports. It was followed by the United States, with a 3.8% share.

In Brazil, insecticide imports expanded at an average annual rate of +10.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: France (+3.9% per year) and the United States (+8.4% per year).

Import Prices By Country

In 2022, the average insecticide import price amounted to $11,043 per ton, with an increase of 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($19,826 per ton), while Nigeria ($4,113 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+20.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Insecticides

In 2022, after three years of growth, there was decline in shipments abroad of insecticides, when their volume decreased by -3.1% to 1.1M tons. Overall, total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.8% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 43%. Over the period under review, the global exports hit record highs at 1.2M tons in 2021, and then shrank slightly in the following year.

In value terms, insecticide exports amounted to $13.2B in 2022. In general, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +88.5% against 2016 indices. The growth pace was the most rapid in 2018 when exports increased by 18%. Over the period under review, the global exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports By Country

In 2022, China (387K tons) represented the largest exporter of insecticides, comprising 34% of total exports. It was distantly followed by India (161K tons) and the United States (74K tons), together mixing up a 21% share of total exports. The following exporters - Spain (48K tons), France (39K tons), Argentina (38K tons), Indonesia (38K tons), the Netherlands (35K tons), Italy (28K tons), Germany (27K tons), Belgium (26K tons) and Israel (23K tons) - together made up 27% of total exports.

From 2012 to 2022, average annual rates of growth with regard to insecticide exports from China stood at +7.2%. At the same time, Israel (+10.8%), India (+10.5%), Spain (+5.7%), the Netherlands (+4.5%), Belgium (+4.5%), Italy (+4.3%) and Germany (+1.4%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the world, with a CAGR of +10.8% from 2012-2022. The United States and Argentina experienced a relatively flat trend pattern. By contrast, Indonesia (-1.2%) and France (-1.9%) illustrated a downward trend over the same period. While the share of China (+8.8 p.p.) and India (+6.4 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Argentina (-1.9 p.p.), Indonesia (-2.3 p.p.), the United States (-2.5 p.p.) and France (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($2.1B), India ($2B) and China ($2B) constituted the countries with the highest levels of exports in 2022, with a combined 46% share of global exports. France, Germany, Belgium, Spain, Israel, Italy, Indonesia, the Netherlands and Argentina lagged somewhat behind, together accounting for a further 29%.

Israel, with a CAGR of +14.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average insecticide export price amounted to $11,562 per ton, growing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2016 when the average export price increased by 20% against the previous year. The global export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($29,764 per ton), while Argentina ($2,822 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+11.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform