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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 Market Report Coverage
The
report: “Tebufenozide Market Forecast (2022-2027)", by Industry ARC covers an
in-depth analysis of the following segments of the Tebufenozide Market.
By Form: Liquid
and Powder.
By Application: Vegetables & Fruits, Corn & Rice, and Others.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United
Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific
(China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia
Pacific), South America (Brazil, Argentina, and Rest of South America), and
Rest of the World (the Middle East, and Africa).
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.
Tebufenozide Market- Geography (%) for 2021.
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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.
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.
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.
Relevant Titles
Insecticides Market - Forecast (2022 - 2027)
Report Code- CMR 0421
Pesticides Market – Forecast (2022 - 2027)
Report Code- CMR 1049
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