The global pyrethrum market is estimated to have the maximum growth rate over the forecast period (from 2017 to 2022). Pyrethrum is a pesticide that is obtained from chrysanthemum plants, also called chrysanths or mums. Pyrethrum pesticide is derived from the dried out flower heads of chrysanthemum coccineum and chrysanthemum cinerariifolium. It is one of the most diverse and effective pesticides. It can be used for almost everything right from regular garden insects to the treatment of cattle or poultry to get rid of flies or fleas/ticks. It induces a poisonous effect once it penetrates cuticles and reaches their nervous system leading to their death.
Pyrethrum is one of the most extensively used and most popular insecticides available on the market and is often referred to as “nature’s insecticide” as it is safe for animals and humans. It is very useful in backyards or gardens to get rid of almost any pest. For instance, it is used for the treatment of ear worms, cucumber beetles, and even thrips. The wide range of applications is expected to augment the overall growth of the market for pyrethrum over the next few years. Other than garden and home purposes, the product is also used for structural and public health insect control and for a wide variety of agricultural crops.
However, there is a debate regarding the effects of pyrethrum and whether or not it can be certified as an organic insect repellent. Since it is considered as an all-purpose insecticide, it can also kill several useful insects along with plant predators. This factor is likely to have a negative impact on product demand restraining overall market growth over the coming years.
In the recent past, BASF SE announced their partnership with MGK Insect Control Solutions to support and promote their bulk pyrethrum products. These products include ULD BP-300 II, ULD BP-100 II, Microcare 3% CS, and HydroPy-300According to the director of BASF, this partnership will allow a continued expansion of the company’s pyrethrum products while furthering their focus on the full pipeline of advances, which are expected to be rolled out in the near future.
Some of the leading companies operating in the worldwide market for pyrethrum include Botanical Resources Australia; Pyrethrum Board of Kenya (PBK); Horizon Sopyrwa Ltd.; MGK Insect Control Solutions; and Zhongzhi Biotech Development Co., Ltd.
The global market is highly competitive and thus most top players follow effective business strategies to gain the maximum market share. Some of these strategies include development of new product and technology, partnerships, mergers & acquisitions, and regional expansions. Most companies are also actively involved in research & development activities to develop highly advanced products and technologies.
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The global pyrethrum market is categorized as per application and region. Based on application, the market is trifurcated into agriculture, household, and industrial. Based on region, the market is divided into North America, Europe, Asia Pacific (APAC), Australia, China, Middle East and Africa (MEA), Tanzania, Kenya, and Rwanda.
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