Tebufenozide market size estimated to reach $7.5 billion by 2025

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.

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.

Read the full report here.