Market Research Future has Published a Half-Cooked Research Report on the Global Larvicides Market.
Market Research Future estimated that the Global Larvicides Market would attain a CAGR of around 4.2% during the forecast period, 2021-2028. R&D activities dedicated to the development of new organic and effective larvicides to restrain the breeding cycle, replacement of pesticides in the case of parasites resistance to solutions, and business emergence opportunities in Africa are some of the factors expected to drive the growth of the global larvicides market. Favorable climatic conditions, burgeoning population, unhygienic lifestyle in underdeveloped areas, poor construction practices are some of the aspects favoring the growth of the global larvicides market. Growth in latest product developments, awareness about the benefits of larvicide usage, and easy availability through robust distribution channels have fueled the demand for the larvicides market, ultimately driving the growth of the global larvicides market. Key players collaborating with government bodies and NGOs that actively support and participate in spreading awareness, poor waste management, has helped to spur the growth of the market, especially in regions with the high rural population. However, high cost of larval prevention product and technologies in developed nations is impacting the growth of the global larvicides market.
The global larvicides market is majorly divided into type, form, application, and targets.
Based on the type, the global larvicides market is segmented into organophosphates, microbial larvicides, and insect growth regulators.
The form segment of global larvicides market is classified into tablets, liquids, briquettes, pellets, and granules. The liquid subsegment is mostly preferred over others, owing to its effectiveness and easy to apply properties.
On the basis of the target, the global larvicides market is bifurcated into flies and mosquitos. Mosquitos subsegment held the major the market share in 2017 as this species was more accountable for spreading epidemics such as dengue fever, Zika, Lyme disease, lymphatic filariasis, chikungunya, and Chagas’ disease among others.
Based on the application, the market diverges into agriculture, public health, livestock, and residential. The public health subsegment dominated the market in 2017. Favorable breeding environments and climate changes that increase the mobility of flies and mosquitos are some of the common factors behind the dominance of public health subsegment.
North America took a leading position in the global larvicides market in 2014 and is expected to sustain its momentum during the forecast period. The growth of the region is attributed to an epidemic of vector-borne diseases and ongoing research for the development of larvicides solutions.
European Market for larvicides is expected to witness a considerable growth owing to growing health awareness among the people, increased healthcare expenditure, and high demand for pesticide-based products over the forecast period.
The booming agriculture sector in India and China generates a huge demand for pesticidal. On the other hand, the rising prevalence of vector-borne diseases is anticipated to drive the Asia Pacific market.
Market players are constantly working on the upgradation of their product portfolio to stay competitive in the global market. Through expertise and advanced infrastructure, some of the key players have managed to stay in the leading position in the global market. These key competitors are BASF SE, Sumitomo Chemical Co., Ltd, Nufarm Limited, Adama Agan, Syngenta, Arysta LifeScience Corporation, Nufarm Limited, Russell IPM Ltd, Gowan Company, and Isagro.