Global Buprofezin Market is Segmented By Formulation (Wettable Powder, Emulsifiable Concentrate, Water Dispersible Granules, Suspension Concentrates, Drift Less Formulations, Others), By Crop Type (Food Crops, Cash Crops, Horticulture Crops, Others), By Pest (Planthoppers, Nepholettix, Scales, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview:
The "global buprofezin market" is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period 2024-2031.
Buprofezin is a pesticide used to control insects and pests on food and vegetable crops. It is a new generation pesticide that provides long-term control of brown plant hopper, molting of nymphs, and chitin production. Buprofezin is replacing traditional insecticides in many farming systems worldwide because of its efficacy against sucking pests and selectivity for practically all-important beneficial insects. As the need for food crops grows, pesticides, such as buprofezin, are needed to protect them from insects, driving the market worldwide. It comes in a variety of forms, including wettable powder, emulsifiable concentration, water dispersible granules, and so on. Because of its extended residual life, resistance to deterioration, and selectivity for beneficial insects, the buprofezin market is rising.
Source: DataM Intelligence Analysis (2021)
Market Dynamics:
Increased demand for food crops, as well as the need for insecticides such as buprofezin to protect crops from insects
Pesticides, including herbicides, insecticides, and fungicides, have significantly increased crop yields over the last five decades. Pesticides, when used correctly, contribute to higher yields and better product quality by controlling weeds, insects, nematodes, and plant pathogens. Herbicides also reduce the amount of labour, machinery, and fuel required for mechanical weed control. However, because pesticides can be toxic, their use frequently raises concerns about human health and environmental consequences. Buprofezin is an insecticide used on vegetable crops to control insect pests such as mealybugs, leafhoppers, and whitefly. Additionally, governments spend a lot of money on agricultural projects and investments. For example, the Canadian government will invest $560,000 in the Canadian Federation of Agriculture (CFA) in order to build the Canadian Agri-Food Sustainability Initiative in 2020. The European Union has launched programmes including the Common Agricultural Policy (CAP) and Young Farmers. The National Strategy for France's Sustainable Development, which ran from 2010 to 2013, aimed to foster more sustainable food production and boost green economy and corporate innovation, resulting in increased domestic organic production and consumption.
Market Segmentation:
Food crops segment is the dominating segment in 2021
Food crops segment is expected to hold XX% in the year 2021. There is an increasing demand for food crops as they are a staple food in various regions especially in the Asian countries. The global use of rice for livestock feed has steadily increased over the past several decades. According to the Food and Agriculture Organization (FAO) the global use of rice for feed in 2013 was 33.6 million mt and that feed use has been growing by 0.5 million mt per year since 2003, an average growth rate of 1.7 percent. According to United States Department of Agriculture (USDA) rice consumption in 2019-20 was 102 million tonnes, an increase of 3% and the rice consumption is expected to increase further in 2020-21 to 108 million tonnes with the government pushing more subsidized rice. Thus, the increasing food crop production is anticipated to drive the buprofezin market in the food crop sector during the forecast period.
The Planthoppers segment currently holds the largest market share and is predicted to continue to expand and dominate the worldwide market throughout the forecast period. Planthoppers are not regarded severe economic pests, with sizes ranging from 1 cm in cooler climes to roughly 5 cm in the tropics. Some species have a mealy material or waxy filaments covering them.
Geographical Penetration:
Asia-Pacific is the fastest growing segment during the forecast period
More than 90% of the world's rice is produced and consumed in Asia Pacific. In Asia Pacific, certain developing countries are anticipated to boost their food output. Government measures in these nations are likely to increase demand for agricultural crops, hence enhancing buprofezin demand. Due to increased agricultural investments by governments in the region, the Asia Pacific region held the highest portion of the buprofezin market in 2021, with a share of XX%. Various economies' governments are spending a lot of money on agricultural programmes and projects. According to China's Ministry of Agriculture, over 1,300 Chinese firms have $26 billion in international agriculture, forestry, and fisheries investments in 2016.
Source: DataM Intelligence Analysis (2021)
Competitive Landscape:
The global buprofezin market is highly fragmented, with many companies introducing new product lineups. AgroStar Biochemical, Bailing Agrochemical, Dow Agro Sciences, and Kenvos are a few competitors. Buprowin is a Thiadiazine-based broad-spectrum insecticide that acts by reducing the insect's development rate. For Brown Plant Hopper, Green Plant Hopper, and other hoppers, it controls sucking insects in paddy fields, cotton, tea, cucumber, tomato, citrus, and oilseeds, among other crops. It must be utilized in compliance with local authorities' approval and climatic conditions.
COVID-19 Impact:
Negative impact on the global buprofezin market.
During the COVID-19 outbreak, most countries throughout the world-imposed lockdowns. As a result, the agriculture and horticultural industries experienced significant challenges, including trade and delivery constraints, as well as delays in the supply of raw materials. A variety of food products have been restricted from export and import by various governments. The buprofezin market was affected by these import and export limitations.
Why Purchase the Report?
- Understand the current market scenario and viability of the global buprofezin market over the forecast period
- Visualize the composition of the global buprofezin market in terms of formulation, crop type, pest and region to identify major players, growth potential, and market strategies
- Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
- Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
What we offer?
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
- Excel data sheet with valuable data points of the global buprofezin market – Regional and Country level segmentation
- Product mapping in excel for the key products of all major market players
- Market Share Analysis covering business revenues ($) and revenue share (%) of key market players
The global buprofezin market report would provide an access to approximately 61 market data tables, 56 figures and 180 pages
Target Audience:
- Farming Communities
- Agrochemicals Manufacturers
- Import and Export Companies
- Industry Investors
- Education & Research Institutes
- Research Professionals
