The sales of pyrethroid insecticides in Turkey have shown fluctuations over the recent years. The actual values from 2017 through 2023 indicate the market's volatility, reaching 3.7375 million kilograms in 2023. During this period, there were notable increases in 2018 and 2021, with 20.34% and 10.35% year-on-year growth, respectively. However, significant declines were observed in 2019 (-28.41%) and 2022 (-3.57%). The overall Compound Annual Growth Rate (CAGR) from 2018 to 2023 stands at 1.15%.
Looking at the forecasts from 2024 to 2028, steady growth is expected, with the market projected to reach 4.0169 million kilograms by 2028. This represents a forecast 5-year CAGR of 1.15%, indicating marginal year-over-year increases that amount to a 5.86% growth over the forecast period.
Future trends to watch for:
- Increasing demand for safer and effective insecticides driven by regulatory changes and health concerns.
- Technological advancements in pyrethroid formulations that may drive efficiency and application.
- Market expansion due to agricultural sector growth and climate changes, influencing insecticide usage patterns.
