Increasing global insecticide demand is expected to be key factor driving global spirotetramat market over the forecast period. Spirotetramat is an insecticide from ketoenol group developed by BayerCropScience in 2007. It is a systematic insecticide which is sprayed on the plant leaves which gets penetrated through the leaves to other parts of the plant. Limited arable land availability and increasing agricultural products demand is expected to positively influence global market demand in the coming years. Technological advancements in manufacturing processes are expected to further augment global spirotetramat industry growth over the forecast period. Increasing consumer awareness regarding crop protection is another factor expected to fuel global spirotetramat market in the coming years. Increasing purchasing power coupled with improvements in customer living standards is expected to drive global spirotetramat market demand. Rising pest resistance to pesticides other than spirotetramat is expected to augment global spirotetramat demand over the foreseeable future. Decreasing pesticides and insecticides cost is expected to positively influence market growth in the coming years. Spirotetramat two-way systemicity as compared to one-way systemicity of other insecticides is expected to fuel global market growth over the forecast period. Rising demand for good quality vegetables & fruits from food & beverages industry is expected to highly augment global demand. High product cost owing to its patents and stringent government restrictions especially U.S. is expected to negatively affect global industry growth. Lack of consumer awareness is expected to be major challenge faced by industry players over the forecast period. Spirotetramat patent expiration is anticipated to provide immense opportunity to industry participants to increase their market presence.
On the basis of crop segment, industry is categorized as fruits, vegetable crops, cotton, spices, cereals, nuts and hops. Fruits formed the largest crop segment in 2014 owing to increasing global insecticide demand especially in North American and European region and this is expected to continue over the forecast period. Spirotetramat were used for fruits such as strawberries, mangoes, citrus and pome fruit. Vegetable crops are expected to witness significant growth over the foreseeable future owing to increasing consumer awareness regarding the product need for vegetable crops mainly lettuce and cabbage. Cotton segment is anticipated to witness sluggish growth over the next seven years owing to lesser demand for the crop especially in North America. Other crops are expected to grow at a slow pace owing to availability of cheap substitutes in the market.
North America was the largest spirotetramat consumer market owing to increasing demand in the region and is expected to continue over the forecast period. U.S. was the dominant market owing to large number of modified crops industry in the region. Spirotetramat was effectively used for seed treatment in modified crops industry which in turn increased market growth in the region. It is effective against insects such as scales, whiteflies and mealy bugs in U.S. which is mainly responsible for crop damage. Europe is expected to witness significant global spirotetramat market growth over the next seven years owing to increasing demand from fruits segment for fruits such as grapes and oranges. Increasing application areas in segments other than fruits is expected to increase demand in European region over the forecast period. Asia Pacific is expected to witness above average growth over the foreseeable future owing to increasing demand from vegetable crops segment such as cotton and cabbage. Increasing consumer awareness regarding the spirotetramat need and increase in disposable income are anticipated to increase spirotetramat demand in the region. Central & South America is expected to witness sluggish market demand owing to lack of consumer awareness regarding spirotetramat usability in the region.
Global Spirotetramat market is highly consolidated with only one company named Bayer CropScience operating globally. The company markets its products under brand names Ultor, Kontos and Movento. Spirotetramat patent acquired by Bayer CropScience is expected to expire by 2017 opening new doors for competitors in the global market.
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPR norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
"The quality of research they have done for us has been excellent..."
The current pandemic situation has created disruption in the manufacturing of agrochemicals by virtue of raw material availability. Furthermore, this continual trend shall have a cascading effect on food productivity and crop yields on economies that are predominantly agrarian, during a time when demand for Agri produce shall register a spike over the medium term. Governments across the developing world are vying to incrementally ease restrictions on the manufacturing of fertilizers and maintain seasonal agricultural activities in order to reduce concerns regarding food security, which is a critical indicator for determining the course of a supply gap in the industry. The report will account for Covid19 as a key market contributor.