pyrethrin Market

The global pyrethrin market accounted for US$ 235.35 million in 2019 and is expected to reach US$ 353.53 million by 2027; it is anticipated to grow at a CAGR of 5.3% during the forecast period of 2020 to 2027.

Pyrethrin is widely used in veterinary medicine for agricultural and domestic purposes. It is used for the treatment of ectoparasites in large and small animals and also in non-mammalian species such as birds, fish, and honeybees. It is used in veterinary medicine in various formulations, including spot-on, sprays, ear tags, soluble powders, and dips.  Synthetic pyrethroids have been classified into two types, mainly type I and type II. It is observed that the addition of the alpha-cyano group to the 3-phenoxylbenzyl alcohol group in type II and increased the insecticidal potency. Pyrethrin and piperonyl butoxide together come in the form of a shampoo that is applied to the skin and hair. It is applied in two to three treatments to treat lice. Pyrethrin is also used in body lice medicines such as A-200, Pyrinate, Barc, Lice-Enz, Licetrol, Pronto, Tisit, Tisist blue and Tripple X. The medical application of Pyrethrin is yet another factor bolstering well the demand for pyrethrin all across the globe.

Based on pest type, the pyrethrin market has been segmented into mites, lepidoptera, coleoptera, coleoptera, diptera, and others. In 2019, the diptera dominated the market with the largest share. The diptera or true flies include insects, such as midges, mosquitoes, sandflies, blowflies, and houseflies. The class of diptera flies contaminates the food and spreads diseases such as typhoid, malaria, and cholera. The dipteran larvae are legless. They live in aquatic, semi-aquatic, or moist terrestrial environments. Pyrethrin, as an insecticide, is highly capable of directly impacting the nervous system of diptera flies. This kills them directly or ends up harming their reproductive systems. Rise in adoption rate of pyrethrin as an insecticide due to its strong and life threatening effects on diptera has favored the global pyrethrin market.

In 2019, North America held the largest share of global pyrethrin market in 2019. Demand for pyrethrin in the region is expected to increase due to rise in requirement of hygiene products in the household sector. Changing lifestyle, increase in population, and rise in disposable income of consumers favors the pyrethrin market in North America. Moreover, the high potency and effectiveness of pyrethrin as a vital ingredient in household and industrial sector also drives the market growth. New investments and marketing strategies by manufacturers have also fueled the demand for pyrethrin in North America. Increase in cases of dengue fever and yellow fever have raised the need for pyrethrin in the region. Inclination toward the use of organic products is yet another factor that favors the pyrethrin market in North America.

COVID-19 pandemic has been affecting economies and industries in various countries, including the US, Brazil, Russia, India, Italy, the UK, Iran, and Spain. Chemicals and materials is one the world’s major industries suffering serious disruptions in the form of supply chain breaks, event cancellations, and office shutdowns as a result of the lockdowns imposed in various countries to contain the disease spread. China is the global manufacturing hub and largest raw material supplier for various industries; it is also one of the worst-affected countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global supply chains and adversely impacting the manufacturing and sales of various chemical and materials. These factors are likely to restrain the growth of various markets related to the chemicals and materials industry in next few financial quarters.

A few key players present in theglobal pyrethrinmarket are Botanical Resources Australia Pty Ltd.; China Xi'an Nutrendhealth Biotechnology Co., Ltd.; Endura; Zhejiang Rayfull Chemicals Co., Ltd.; Pestech Australia Pty Ltd.; Scintex; Horizon Sopyrwa; Kapi Limited; and Zhengzhou Delong Chemical Co., Ltd; among others.

The overall global pyrethrinmarket size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the pyrethrin market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the pyrethrinmarket.