Pyrethrin Market : Market Research Report : Key Growth Factors and Forecast 2024

Pyrethrin is an organic compound that is commonly used as an insecticide and is derived from dried chrysanthemum cinerariae folium flowers commonly known as pyrethrum daisy. Pyrethrin primarily target the nervous system of the insects. Pyrethrin is made by industrial methods synthetically and may also occur naturally in chrysanthemum flowers. It is often considered as an organic insecticide as it occurs naturally in nature. These insecticides have minimum impact on human health and are biodegradable in nature. It is one of the safest types of insecticide that is currently used globally. This is why pyrethrin is replacing conventional insecticides such as organo chlorides and organophosphates in the global insecticide market.

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The global market for pyrethrin is segmented on the basis of product type, pest type, application, and geography. On the basis of product type, the market is segregated into pyrethrin I and pyrethrin II. Pyrethrin I held the dominant market share in 2015 owing to the large number of chemical segregations that is included in this type of pyrethrin. It is also forecasted to experience a steady growth rate over the forecast period. On the basis of pest type, the global market for pyrethrin is segregated into mites, Diptera, Coleoptera, sucking pests, Lepidoptera, and others. Mites held the largest market share in this category owing to increased demand by the household sector in order to deal with mites in households.

On the basis of application, the market is segregated into agriculture, household, animal health, veterinary, pharmaceutical, timber protection, and disease control. Agriculture held the largest market share in this segment owing to increased demand for pyrethrin for crop protection. Bulk requirement of pyrethrin insecticide in the agricultural sector is a major reason for the high demand of pyrethrin in the global market. Household sector is the rapidly growing segment, owing to increased demand for pyrethrin for household pest control as it is environment friendly and biodegradable in nature.

Major driver of the global pyrethrin market include rising demand for hygienic products by households, backed by increasing global population and rising lifestyle. In addition, due to its natural origin, pyrethrin is extensively demanded both in the industrial and household sector. As pyrethrin occurs naturally in nature, there is a major supply constraint faced by manufacturers which acts as a major restraint of the global market. In addition, pyrethrin is highly sensitive to sunlight, heat, and moisture which restrict its use in the agricultural sector. This also acts as a major restraint. In order to counter these issues, synthetic versions of the insecticide is manufactured for use in the agricultural sector to cater to the demand from this sector.

Geographically, the global market for pyrethrin is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America held the most dominant market share among all the regions owing to large presence of industries in the region. Asia Pacific is the fastest growing region with increasing population and a growing industrial belt. Middle East & Africa is the major producer of the raw material as the production is concentrated in countries such as Tunisia, Morocco, Brazil, Papua New Guinea, Tanzania, Rwanda, and Kenya among others.

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Major players of the global pyrethrin market include (Leverkusen, Germany), Botanical Resources of Australia (Tasmania, Australia), Horizon Sopyrwa (Rwanda, Africa), KAPI Limited (Nakuru, Kenya), McLaughlin Gormley King Company (Minnesota, U.S.), Valent BioSciences Corporation (California, U.S.), Agropharm Limited (London, U.K.), Beaphar UK (Haverhill, U.K.), Elanco (Indiana, U.S.), Sinclair Animal & Household Care Ltd (Gainsborough, U.K.), Sumitomo Chemical Co., Ltd. (Tokyo, Japan), and W. Neudorff GmbH KG (Emmerthal, Germany).

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