Buprofezin Market - Forecast(2023 - 2028)

Report Code: CMR 27801 Report Format: PDF + Excel

Buprofezin Market Overview

Buprofezin Market size is forecast to reach $195 million by 2026, after growing at a CAGR of 5.1% during 2021-2026. Buprofezin is a plant sap-sucking insect growth regulator that acts against whiteflies. It is a new generation insecticide that provides long-term control of Brown Plant Hopper (BPH), leafhoppers, molting of nymphs, and inhabiting chitin biosynthesis. Buprofezin is displacing broad-spectrum insecticides in many cropping systems around the world due to its effectiveness against sucking pests and selectivity for nearly all main beneficial insects. It is also available in various forms such as wettable powder, emulsifiable concentrate, water dispersible granules and son on. The buprofezin market is growing due to its long residual life, resistance to deterioration, and selectivity for beneficial insects. The growth of this market is hampered by the emergence of insect resistance due to misuse and environmental restrictions on the use of insecticides.

Due to the COVID – 19 outbreaks, the industry faced difficulties like delay in raw materials supply, trade and delivery issues, and more. Also the governments banned export and import of certain commodities such as on March 31, 2020, the Eurasian Economic Commission (EEC), banned number of food products, most notably sunflower seeds and soy beans. These import and export restrictions limited the Buprofezin market growth during the pandemic.

Buprofezin Market Report Coverage

The report: “Buprofezin Market– Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Buprofezin Industry.  

By Formulation: Wettable Powder, Emulsifiable Concentrate, Water Dispersible Granules, Suspension Concentrate, Drift Less formulation and others
By Product Type: Planthoppers, Nephotettix and Nilaparvata and Thrips, Nilaparvata and Sogatella, Scales and others.
By Crop Type: Food Crops (Wheat, Rice, Pulses and others), Cash Crops (Sugarcane, Cotton and others), Horticulture Crops (Fruits and Vegetables), Plantation Crops (Tea, Coffee and others) and others.
By Geography: North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, Italy, Spain, Netherlands, Russia, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America, and RoW (Middle East (Saudi Arabia, UAE, Israel, Rest of Middle East), Africa (South Africa, Nigeria, Rest of Africa).

Key Takeaways

  • Asia-Pacific dominates the buprofezin market, owing to the increasing agricultural investments by the government in the region. In May 2019, NABARD announced an investment of Rs 700 crore (US$ 100 million) venture capital fund for equity investments in agriculture and rural-focused start-ups in India.
  • Buprofezin is an insecticide used on food and vegetable crops to combat insect pests such as mealybugs, leafhoppers, and whitefly. It is a growth regulator that inhibits the synthesis of chitin. With growing global populations that constantly challenge food production, buprofezin fertilizers offer a means towards meeting the challenge of more food from less land. Thus, its demand is increasing.
  • Due to COVID-19 Pandemic, most of the countries has gone under lockdown, due to which operations of various industries such as agriculture and horticulture has been negatively affected, which is hampering the buprofezin market growth.

Buprofezin Market Segment Analysis – By Crop Type

The food crop segment is projected to grow at a CAGR of 5.4% during the forecast period, owing to the increasing demand of food crops such as wheat, rice, pulses and others. Buprofezin in wettable powder form are widely used to control leafhoppers. There is an increasing demand for food crops as they are a staple food in various regions especially in the Asian countries. The global use of rice for livestock feed has steadily increased over the past several decades. According to the Food and Agriculture Organization (FAO) the global use of rice for feed in 2013 was 33.6 million mt and that feed use has been growing by 0.5 million mt per year since 2003, an average growth rate of 1.7 percent. According to United States Department of Agriculture (USDA) rice consumption in 2019-20 was 102 million tonnes, an increase of 3% and the rice consumption is expected to increase further in 2020-21 to 108 million tonnes with the government pushing more subsidized rice. Thus, the increasing food crop production is anticipated to drive the buprofezin market in the food crop sector during the forecast period.

Buprofezin Market Segment Analysis – By Geography

Asia Pacific region held the largest share in the buprofezin market in 2020 with a share of 30%, owing to the increasing agricultural investments by the government in the region. The government of various economies are spending heavily on initiatives and investments in the field of agriculture. For instance, in 2016, according to China’s Ministry of Agriculture, over 1,300 Chinese enterprises had overseas investments in agriculture, forestry, and fisheries valued at $26 billion. The total quantum of private investment in India is projected to increase (with added investment of Rs. 78,424 crore) from Rs. 61,000 crore in 2015-16 to Rs. 139,424 crore by 2022-23. The Indian government introduced Pradhan Mantri Samman Nidhi Yojana under Budget 2019-20, in which a minimum fixed pension of Rs 3000 (US$ 42.92) is to be provided to the eligible small and marginal farmers, on attaining the age of 60 years. In Japan, a digital farming technology has been developed to help experienced farmers to use water, fertilizers and insecticides more efficiently. According to Food and Agriculture Organization of the United Nations, Asia Pacific accounts for more than 90 percent of world rice production and consumption and some developing countries in Asia Pacific will need to increase their food production by up to 77 percent to feed their people by 2050. Thus, such government initiatives are increasing the demand of agricultural crops which is further increasing the buprofezin demand.

Figure: Asia Pacific Buprofezin Market Revenue, 2020-2026 (US$ million)

Buprofezin Market Drivers

Increasing Agricultural Initiatives By Governments

The governments are spending heavily on initiatives and investments in the field of agriculture. For instance, in 2020, the Canadian government invested a total of $560,000 on the Canadian Federation of Agriculture (CFA) to develop the Canadian Agri-Food Sustainability Initiative. The European government has taken initiatives such as Common Agricultural Policy (CAP) and Young Farmers. The 2010- 2013 National Strategy for France’s Sustainable Development aimed to develop a more sustainable food production and support green economy and business innovation, and has achieved a higher domestic organic production and consumption levels. According to a finding of Proceedings of the National Academy of Sciences (PNAS) of the United States of America, pests, and pathogens cost nearly $40 billion to the plants and forest crop production in the U.S. every year. This statistic is reflective of the need for agricultural chemicals such as insecticides including buprofezin that combat insect pests such as mealybugs, leafhoppers and act as a growth inhibitor, thus owning to these factors the market for buprofezin is growing.

Buprofezin Market Challenges

Harmful Environmental Effects of buprofezin

Comprehensive knowledge about the exact mode of action of buprofezin is still lacking. However, it initially suppresses chitin biosynthesis during molting and causes immature death during cuticle shedding. Furthermore, after treating adult females, it disrupts oviposition, egg fertility, and reduces fecundity. Also it is prohibited in some countries due to its harmful environmental effects, as it is particularly toxic to marine species and non-target insects, though it is relatively safe for humans and other mammals. Thus, these factors are limiting the market growth.

Buprofezin Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Buprofezin Market. Major players in the Buprofezin market includes Agro-Star Biochemical, Bailing Agrochemical, Dow AgroSciences, JiangSu Sevencontinent Green Chemical, Kenvos, Nihon Nohyaku, Canary Agro Chemicals Private, Jiangsu Fengshan Group, Dalian Winyard Chemical, Zhejiang Longwan Chemicals among others.   

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1.Buprofezin Market- Market Overview
    1.1 Definitions and Scope
2. Buprofezin Market - Executive Summary
    2.1 Key Trends by Formulation
    2.2 Key Trends by Product Type
    2.3 Key Trends by Crop Type
    2.4 Key Trends by Geography
3. Buprofezin Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Buprofezin Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Buprofezin Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Buprofezin Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Buprofezin Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Buprofezin Market – By Formulation (Market Size -$Million/Billion)
    8.1 Wettable Powder
    8.2 Emulsifiable Concentrate
    8.3 Water Dispersible Granules
    8.4 Suspension Concentrate
    8.5 Drift Less formulation
    8.6 Others
9. Buprofezin Market – By Product Type (Market Size -$Million/Billion)
    9.1 Planthoppers
    9.2 Nephotettix and Nilaparvata and Thrips
    9.3 Nilaparvata and Sogatella
    9.4 Scales
    9.5 Others
10. Buprofezin Market – By Crop Type (Market Size -$Million/Billion)
    10.1 Food Crops
        10.1.1 Wheat
        10.1.2 Rice
        10.1.3 Pulses
        10.1.4 Others
    10.2 Cash Crops
        10.2.1 Sugarcane
        10.2.2 Cotton
        10.2.3 Others
    10.3 Horticulture Crops
        10.3.1 Fruits
        10.3.2 Vegetables
    10.4 Plantation Crops
        10.4.1 Tea
        10.4.2 Coffee
        10.4.3 Others
    10.5 Others
11. Buprofezin Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherland
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zeeland
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
   Saudi Arabia
   Rest of the Middle East
        11.5.2 Africa
   South Africa
   Rest of Africa
12. Buprofezin Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Buprofezin Market – Market Share Analysis Premium
    13.1 Market Share at Global Level - Major companies
    13.2 Market Share by Key Region - Major companies
    13.3 Market Share by Key Country - Major companies
    13.4 Market Share by Key Application - Major companies
    13.5 Market Share by Key Product Type/Product category - Major companies
14. Buprofezin Market – Key Company List by Country Premium Premium
15. Buprofezin Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"