Larvicides Market Overview
The global Larvicides Market is expected to garner a revenue of USD 960 million by 2024, with a CAGR of approximately 4.2% during the forecast period, 2019–2024. 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 Industry.
Bayer AG (Germany), BASF SE (Germany), Syngenta (Switzerland), Sumitomo Chemical Co., Ltd (Japan), ADAMA Ltd (Israel), Certis USA LLC (US), Central Garden & Pet Company (US), Nufarm Limited (Australia), Russell IPM Ltd (UK), Gowan Company (US), Isagro (Italy), Arysta LifeScience Corporation (US), and Eli Lily and Company (US) are some of the key players operating in the global larvicides market.
The market in Europe accounted for the second-largest share due to the high awareness among the citizens in the region. The high government spending on healthcare and the medical sector is another factor driving the demand for larvicides in the region.
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.
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The global larvicides market is majorly divided into type, form, application, and targets.
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.
Based on 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.
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