Tebufenozide Market Size Estimated to Reach $7.79 billion by 2027

Tebufenozide Market Size Estimated to Reach $7.79 billion by 2027
Tebufenozide Market
The low adverse effects of the use of tebufenozide when compared to other chemical insecticides are driving the market during the forecast period.

Tebufenozide Market Overview

The Tebufenozide Market size is estimated to reach $7.79 billion by 2027. Furthermore, it is poised to grow at a CAGR of 5.65% over the forecast period of 2022-2027. Tebufenozide is a highly selective ecdysone agonist insect growth regulator that causes premature moulting in caterpillar pests. Studies have found that insects injected with tebufenozide have arrested follicle development. This helped in the identification of a regulatory cascade that is induced in the follicular cells. At the top of this regulatory cascade is the retinoic acid receptor-related orphan nuclear receptor, which gets expressed during the vitellogenic stage. Some of the key applications of tebufenozide include fruits & vegetables and crops such as rice & corn.

The robust growth in the demand for food products owing to the rapid rise in global disposable income and population is a key factor driving the demand for Tebufenozide during the forecast period 2022-2027.

Tebufenozide Segmentation Analysis- By Form

The Tebufenozide market based on the form can be further segmented into liquid and powder. The powder segment accounted for the largest share in 2021 and is poised to continue dominating the market during the forecast period 2022-2027. The rapid growth of the segment can be attributed to the long shelf-life and ease of handling of the powdered form. Moreover, they are also available in larger volumes than the liquid form of the insecticide. FAO estimates that annually between 20 to 40 percent of global crop production is lost to pests. Each year, plant diseases cost the global economy around $220 billion, and invasive insects around US$70 billion, which allows for the active use of tebufenozide.

However, the liquid segment is projected to witness robust growth at a CAGR of 6.4% during the forecast period. As the product comes in the form of a highly concentrated liquid, they are much easier to be dissolved in water to form a solution. This ensures that the insecticide is evenly distributed while applying to the plants and also reduces any wastage of the product.

Tebufenozide Market Segmentation Analysis- By Application

The Tebufenozide market based on the application can be further segmented into Vegetables & Fruits, Corn & Rice, and others. The fruits and vegetable segment held a dominant market share in the year 2021. The high market share of the segment can be attributed to the rising demand for healthy food options during the COVID-19 pandemic. The World Health Organization (WHO) recommends that an individual must consume at least 2 cups of fruits and 2.5 cups of vegetables per day to help maintain a healthy immune system and reduce the risk of infections.

The corn & rice segment is estimated to witness significant growth, with a CAGR of 6.6% over the forecast period of 2022-2027 owing to the rising global population and the resulting scarcity of food. The use of tebufenozide helps significantly increase average crop yield per square meter of land as they eliminate pests such as moth and butterfly larvae, which feed on the plants. USDA recently tweaked the corn production outlook for 2021 to 15.062 billion bushels, up from 7% (14.111 billion bushels) which was forecasted in 2020. The following demand shows the robust demand, thereby supplementing the demand for tebufenozide.

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=504740

Report Price: $ 4500 (Single User License)

Tebufenozide Market Segmentation Analysis- By Geography

The Tebufenozide market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the rest of the World. North America is estimated to have the largest share of the market with 35% in 2021 and is predicted to dominate the market during the forecast period 2022-2027. This can be attributed to the relatively larger farm size and the use of capital-intensive techniques for cultivation and harvesting processes. Additionally, in the most recent surveys, around 2.02 million farms were available within the US, which roughly translates to 897 million acres of land. To improve productivity, such farms make use of technology for spraying pesticides efficiently rather than them being done manually. For instance, many of the farms use agricultural aircraft to evenly apply tebufenozide over crops.

The Asia Pacific is expected to offer lucrative growth opportunities to the marketers during the forecast period 2022-2027 owing to the rising awareness levels regarding the adverse effects of using broad-spectrum synthetic insecticides. Furthermore, the rising adoption of selective insecticides in emerging economies such as India, China, and Vietnam are also contributing to the market growth.

Tebufenozide Market Drivers

Low adverse effects of tebufenozide have readily aided the market growth.

The low adverse effects of the use of tebufenozide when compared to other chemical insecticides are driving the market during the forecast period. Tebufenozide has low acute oral, dermal and inhalational toxicity. Their exposure does not cause any skin or eye irritation. Moreover, the substance degrades via microbial action in the environment, thereby reducing the risk of soil and water contamination. They also have an extremely low risk of being bioaccumulated in aquatic organisms. However, other chemical-based broad spectrum insecticides do not naturally degrade and can also be highly toxic to both humans as well as animals. This is leading to the rising adoption of tebufenozide over other such substances. The regulations banning the use of certain insecticides in developed regions of Europe and North America are further contributing to product demand.

The increasing prevalence of infestation is driving the market.

The rising infestation of larvae on crops is driving the market for insect-specific insecticides such as tebufenozide during the forecast period. According to the US Food and Agricultural Organization (FAO), the growing prevalence of pest infestation is attributed to climate change. It is estimated that approximately 40% of the total global crop production is lost to pests. Such invasive insects cost the agricultural industry nearly $70 billion every year. Tebufenozide helps eliminate pests such as moth and butterfly larvae that damage rice, corn and other such crops without any significant environmental or health risks. This is projected to increase the adoption of the product during the forecast period to combat infestation and increase crop yield.

Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=504740

Tebufenozide Ingredients Market Challenges

Increasing adoption of genetically modified crops is a major impeding factor for market growth.

The rising global adoption of genetically modified crops is projected to hamper market growth during the forecast period 2022-2027. Insect-resistant transgenic crops have the Ability to combat insect infestation on their own, thereby eliminating the need for extensive use of insecticides such as tebufenozide. For instance, the genetically modified Bt maize contains the endospore toxins of the bacterium Bacillus thuringiensis, which are harmful to insect larvae when consumed. It is estimated around 83% of the corn grown in the US was genetically modified in 2020. Furthermore, it is found that a 10% increase in Bt crop adoption increases variable profits by 1.65%, which is further contributing to their rapid adoption.

Tebufenozide Market Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Tebufenozide Market. Tebufenozide top 10 companies include:

Sigma-Aldrich

Nippon Soda

Wings Chemical

Kumiai Chemical Industry

Green Mountain

Hangzhou Tianlong Biotechnology

Bayer

Wucine Bio Industries

Shanghai Molotus Chemical

Shijiazhuang Awiner Biotech

Recent Developments

In December 2019, Rice Exporters in India, the largest producer of premium rice, has sought a ban on pesticides that are not registered in foreign markets to increase exports to the US and Europe. The exports have been falling rapidly owing to the crop samples failing to meet regulatory standards. The pesticides seeking to be banned include tebufenozide.

In January 2020, Nisso Chemical Europe GmbH submitted a request to the national authority of the European Food Safety Authority (EFSA) in Italy to modify the existing maximum residue levels (MRLs) for the active substance tebufenozide in apricots and peaches. The data submitted in support of this MRL application were found to be sufficient to derive an MRL proposal for apricots and peaches.

In January 2021, Health Canada announced that, under the authority of the Pest Control Products Act, they have determined that continued registration of products containing tebufenozide is acceptable. The decision came after Health Canada completed the re-evaluation of tebufenozide and associated end-use products.

Key Takeaways

Geographically, the North American segment held a dominant market share in the year 2021. This can be attributed to the stringent regulations regarding the use of broad-spectrum chemical insecticides in countries such as the US and Canada. The Asia Pacific region is also anticipated to witness lucrative growth owing to the rising adoption of selective insecticides in major emerging economies such as China and India.

The relatively low side-effects of Tebufenozide, when compared to other chemical insecticides, are anticipated to drive the market during the forecast period. However, the rising adoption of insect-resistant Genetically Modified crops is projected to hamper growth opportunities.

A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Tebufenozide Market Report.

Relevant Titles

Insecticides Market

https://www.industryarc.com/Report/15905/insecticides-market.html

For more Chemicals and Materials Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/