In 2019, the global pyrethrin market was valued at approximately US$ 235.35 million and is projected to grow to US$ 353.53 million by 2027, reflecting a compound annual growth rate (CAGR) of 5.3% from 2020 to 2027.
Pyrethrin is extensively utilized in veterinary medicine for both agricultural and domestic applications. It serves as a treatment for ectoparasites affecting various animals, including both large and small species, as well as non-mammalian creatures like birds, fish, and honeybees. In veterinary practices, pyrethrin is available in several formulations such as spot-on treatments, sprays, ear tags, soluble powders, and dips. Synthetic pyrethroids are categorized into two main types: type I and type II. Notably, the introduction of the alpha-cyano group to the 3-phenoxylbenzyl alcohol structure in type II enhances its insecticidal effectiveness. Pyrethrin is often combined with piperonyl butoxide in shampoos designed for topical application to the skin and hair, typically requiring two to three treatments to effectively eliminate lice. Additionally, pyrethrin is incorporated into various body lice treatments, including products like A-200, Pyrinate, Barc, Lice-Enz, Licetrol, Pronto, Tisit, Tisist blue, and Tripple X. The medical applications of pyrethrin significantly contribute to its rising demand worldwide.
The pyrethrin market is segmented based on pest types, which include mites, lepidoptera, coleoptera, diptera, and others. In 2019, diptera, or true flies, held the largest market share. This group encompasses insects such as midges, mosquitoes, sandflies, blowflies, and houseflies. Diptera are known to contaminate food and transmit diseases like typhoid, malaria, and cholera. The larvae of dipteran flies are typically legless and thrive in aquatic, semi-aquatic, or moist terrestrial environments. As an insecticide, pyrethrin effectively targets the nervous systems of diptera, leading to their death or reproductive harm. The increasing adoption of pyrethrin as an insecticide, particularly due to its potent effects on diptera, has positively influenced the global pyrethrin market.
In 2019, North America was the leading region in the global pyrethrin market. The demand for pyrethrin in this area is anticipated to rise due to an increased need for hygiene products in households. Factors such as changing lifestyles, population growth, and rising disposable incomes are favorable for the pyrethrin market in North America. Furthermore, the high efficacy of pyrethrin as a crucial ingredient in both household and industrial applications propels market growth. New investments and innovative marketing strategies from manufacturers have also contributed to the heightened demand for pyrethrin in the region. The surge in cases of dengue fever and yellow fever has further amplified the need for pyrethrin. Additionally, the growing preference for organic products is another aspect that supports the pyrethrin market in North America.
The COVID-19 pandemic has significantly impacted economies and industries across various nations, including the US, Brazil, Russia, India, Italy, the UK, Iran, and Spain. The chemicals and materials sector is among the industries facing severe disruptions due to supply chain interruptions, event cancellations, and office closures resulting from lockdown measures implemented to curb the virus's spread. As China is a major global manufacturing hub and a primary supplier of raw materials for numerous industries, it has been heavily affected by the pandemic. The shutdown of factories and production facilities in China has disrupted global supply chains, adversely affecting the manufacturing and sales of various chemicals and materials. These challenges are expected to hinder the growth of markets related to the chemicals and materials industry in the upcoming financial quarters.
Several prominent players in the global pyrethrin market include Botanical Resources Australia Pty Ltd., China Xi'an Nutrendhealth Biotechnology Co., Ltd., Endura, Zhejiang Rayfull Chemicals Co., Ltd., Pestech Australia Pty Ltd., Scintex, Horizon Sopyrwa, Kapi Limited, and Zhengzhou Delong Chemical Co., Ltd., among others.
The overall size of the global pyrethrin market has been determined through a combination of primary and secondary research methods. The research process begins with comprehensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the pyrethrin market. Additionally, numerous primary interviews are conducted with industry participants and experts to validate the data and analysis. Participants typically include industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the pyrethrin market.