FENITROTHION MARKET ANALYSIS

Market Challenges And Opportunities

Restraints:

• Fenitrothion is an organophosphorous insecticide most commonly used in Australian agriculture to control insects and pest as well as locusts from the crops. Moreover, benefits associated with fenitrothion such as it offers pest control in a single spray and does not require additional sprays drives the market growth. The demand for fenitrothion is expected to increase during the forecast period, owing to rising agricultural activities across the globe. Moreover, the rising population is also driving demand for food products. For instance, according to the report published by the Department of Economic and Social Affairs suggested that the world’s population is growing at a noteworthy rate, accounting for about 7.7 billion in 2019 and expected to grow for over 9.7 billion by the year 2025. Hence, farmers need to increase the yield of the crops. This is expected to drive the overall growth of fentirothion market over the forecast period.
• However, stringent government regulations about the usage of fenitrothion in insecticides is expected to hamper growth of the global fenitrothion market over the forecast period. For instance, in July 2016, The New Zealand Environmental Protection Authority banned the import and manufacturing of fenitrothion-based insecticide products. Moreover, groundwater pollution associated with the use of fenitrothion is a major concern, as it is highly toxic for aquatic life in both fresh and sea water. This is one of the major factors hampering the market growth.

Opportunities:

• Among application, grains segment is expected to account for a significant market share during the forecast period, owing to the rising consumption of cereals, globally. For instance, according to the Food and Agriculture Organization of the United States, the global production of cereals in July 2020 increased by 3% and accounts for around 2,790 million tons. Moreover, the global production of wheat account for over 761.5 million tons in July 2020 and expected to rise significantly. Such factors are expected to drive growth of the market over the forecast period.
• Major fenitrothion manufacturers are focusing on strategies such as product launches, and mergers & acquisitions, among others to expand their product portfolio and increase their consumer base. For instance, in December 2019, Gowan Company, LLC entered into an agreement with Bayer AG to acquire the brands of Fenamidone and Pencycuron products such as Reason, Prestige, and Consento among others. Through this acquisition, Bayer and Gowan aims to maintain quality customer service in various regions.