High Demand For Improved Crop Yield Production Due To Growing Population Has Drastically Fueled The Growth Of The Pyraclostrobin Market

Pyraclostrobin Market


 Pyraclostrobin or pyrethrum is an organic agricultural pesticide, most commonly used to kill nematodes (e.g., certain mites, ticks, fleas, and ants) and other insects that can cause damage to agricultural crops. Common hazards to humans from pyrethrum exposure include allergic skin reactions and eye irritation. Dermatitis, eczema, contact dermatitis, and stasis of the digestive tract may develop if the insecticide is ingested. The chemical can also be absorbed through inhalation.

Increasing demand for high yield food crops due to the growing population and lack of arable land is fueling the growth of the pyraclostrobin market. According to the Worldometer, the population in the world is currently (2020) growing at a rate of around 1.05% per year (down from 1.08% in 2019, 1.10% in 2018, and 1.12% in 2017). The growing need for reducing crop production losses and enhance the nutritional qualities of the plant are again projected to propel the growth of the market. Increasing adoption of advanced farming practices by farmers coupled with the growing disposable income of the consumers is further anticipated to foster the growth of the pyraclostrobin market.

The Asia Pacific is projected to gain significant growth over the forecast period and this is attributed to the expanding agriculture industry due to the growing production of food grains in the region. According to the India Brand Equity Foundation, during the 2019-2020 crop year, food grain production was estimated to reach a record 295.67 million tonnes (MT). In 2020-21, the Government of India is targeting food grain production of 298 MT. This is expected to accelerate the regional market growth.

Key Developments:

1.      In January 2018, Chinese agrochemical company Shandong Kangqiao Chemical has launched a new brand. The new logo encompasses “seed germination, seedling emergence, crop growth and unlimited power”, which stand for “activeness, health, and vigor”

2.      In September 2019, Bayer announced the launch of fungicide innovation marketed under the iblon™ technology brand has received first registration worldwide from the New Zealand Ministry for Primary Industries.

3.      In April 2017, Willowood introduced pyraclostrobin fungicide. The new introduction is a broad-spectrum fungicide that contains pyraclostrobin, the active ingredient in Headline.

4.      In December 2018, Shandong Qingdao Audis Bio. Tech, a subsidiary of Hailir Group has granted registration of pyraclostrobin 9% CS for application to control of rice sheath blight. This makes it the first Chinese company that has been granted registration of pyraclostrobin for use in paddy rice.

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