Tebufenozide Market size is estimated to reach $7.5 Billion by 2025, growing at a CAGR of 5.74% during the forecast period 2020-2025. Tebufenozide is a carbohydrazide that acts as an agonist of the receptor that causes premature molting. It is an Insecticide that acts as a molting hormone. Rapid increase in the demand for food, decrease in the arable land, increase in the population, growing awareness among customers, increase in the application of Agrochemicals and increase in the research and development activities are the factors that are set to drive the growth of the global market for the forecast period 2020-2025.
Tebufenozide Market Segment Analysis - By Form
Based on form Global Tebufenozide Market is segmented into liquid and powder. The liquid segment held the largest share in 2019 and is set to continue for the forecast period 2020-2025. The growth in this segment is owing to convenience in storing, usage and transportation of tebufenozide in this form.
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Tebufenozide Market Segment Analysis - By Application
Based on the Application, Vegetables and Fruits segment held the largest share in 2019 owing to the factors such as rapid increase in the demand for desserts, increase in the demand for vegetables and fruits, increase in the health consciousness among the customers. Rice and Corn segment is estimated to be the fastest growing segment with a CAGR of 6.7% during the forecast period 2020-2025. This is owing to the factors such as rapid increase in the population, growing demand for food and increase in the demand in the developing nations.
Tebufenozide Market Segment Analysis - By Geography
Based on the Geography, North America held the largest share of 34.23% in 2019. The growth in this segment is owing to the factors such as advancements in technology, increase in the investment by the major companies, decrease in the arable land and growing focus on increasing the productivity. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such as rapid increase in the demand for food, increase in the population, increase in the government initiatives and increase in the awareness among the customers.
Tebufenozide Market Drivers
Rapid increase in the demand for food and growing focus on increasing the productivity
The rapid increase in the demand for food across the world owing to the growing population is estimated to enhance the growth of Tebufenozide Market. The growing focus on increasing the productivity owing to increasing demand is also estimated to enhance the growth of Tebufenozide Market.
Increasing usage of tebufenozide as an agrochemical active ingredient and increase in the demand for fruits and vegetables
There is a rapid increase in the usage of tebufenozide as an agrochemical active ingredient. This led to rapid increase in the growth of Tebufenozide Market. Increase in the demand for fruits and vegetables is also estimated to enhance the growth of the Tebufenozide Market.
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Tebufenozide Market Challenges
Volatile cost of raw materials that are used in tebufenozide
The volatile cost of raw materials that are used in tebufenozide is one of the major factors that is estimated to reduce the growth of the Tebufenozide Market. Stringent regulations by the governments is also said to reduce the growth of the Tebufenozide Market.
Tebufenozide Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Tebufenozide Market. Key companies of this market are Kumiai Chemical Industry Co Ltd, Green Mountain Co Ltd, Nippon Soda Co Ltd, Hangzhou Tianlong Biotechnology Co Ltd, Sigma-Aldrich Co LLC, Wing Chemical Co Ltd, Gowan Company, Qingdao Higrow Chemicals, Jiangsu Baoling Chemical Co Ltd, Jingbo Agrochemicals among others.
Key Takeaways
Geographically, North America Tebufenozide Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
The increase in the population and awareness among customers is likely to aid in the market growth of Tebufenozide Market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Tebufenozide Market report.
The increase in the application of agrochemicals and decrease in the tolerance to biotic stresses are creating higher opportunities for the growth of market for the forecast period 2020-2025.
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B. Insecticides Market
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