BETA-CYFLUTHRIN MARKET ANALYSIS

Beta-Cyfluthrin MarketSize and Trends

Market Outlook

• Among application, agriculture segment was dominant in the market in 2017. Beta-cyfluthrin is used as insecticides for protecting cereals and grains, oilseeds and pulses, and vegetables, owing to their low input cost. The segment is projected to hold dominant position in the market over the forecast period. According to a statistics of Food and Agricultural Organization (FAO), the global production of cereal was 2.85 billion tons in 2016, which grew at the rate of 1.9% from 2015.
• Asia Pacific held highest market share in the global beta-cyfluthrin market in 2017 and is projected to retain its dominance over the forecast period. This is attributed to increasing demand for insecticides in agriculture to improve crop yield. The growing demand for food grains due to increasing population has resulted in increasing demand for pesticides. The government of India had launched an initiative in 2015 for farmers to create awareness about the safe and judicious use of pesticides.
• North America is projected to be the fastest growing region in the market over the forecast period. Growth in the agriculture industry is the most important factor driving growth of the market in North America. According to a statistics by the Food and Agricultural Organization (FAO), production of cereal in 2016 was 531 million tons in North America, which grew at the rate of 9.5% from 2015.

Market Dynamics

• Growing urbanization and good agricultural practices such as reducing erosion, scheduled irrigation, and maintaining of manure application are boosting demand for insecticides. Besides removal of vegetation, destruction of pastures and crops, and creation of nuisance in urban and rural residential areas, insects also interfere with nature-based tourism, as it causes the destruction of natural resources.
• However, consumers should take safety measures before using insecticides in outdoor and indoor areas. Exposure to these insecticides can cause sensation of prickling, creeping on skin, numbness, headache, dizziness, nausea, vomiting, and diarrhea. Rapid adoption of organic insecticides and occurrence of health hazards is expected to restraint growth of the beta-cyfluthrin market.
• Europe has directed manufacturers to use precautionary labelling for using cyfluthrin as ingredients in insecticides