Microencapsulated Pesticides Market overview:
Microencapsulated Pesticides market size is forecast to reach USD 520.12 million by 2030, after growing at a CAGR of 8.6% during 2022-2030.Pests are small insects or organisms that can harm plants and crops. They can also harm animals. Several pests invade the plants and feed themselves to survive. They eat stems, roots, fruits, and leaves and can cause damage to the plants, which leads to plant death.
In contrast, some insects are beneficial to the plants and help the plants to grow. Most pests are animal parasites resulting in low annual yield or animal death. It is necessary to kill the pests and take care of the plants to keep the crops safe from infection. Farmers can obtain great productivity by removing the pests which can harm crops. Microencapsulation of pesticides among farmers is expected to increase the efficiency of pesticides using controlled released Technology. It is the right choice for unproductive farming. The growing adoption of IPM pest management particles and increasing regulatory support for a sustainable approach to lessen extensive agrochemical application will drive the market in the forecast period. Rising awareness of the availability of microencapsulated pesticides and growing instances of pets and insects is expected to drive the market. During the pandemic, the market was negatively affected as there was no production, and manufacturing units were closed. The lack of raw materials and labor impacted the market growth. The Microencapsulated Pesticides Market focuses on product innovation and green manufacturing and production to attract more consumers. The reduction in the use of toxic chemicals and materials in the production of pesticides is expected to offer new opportunities to explore organic chemicals and ingredients. Farmers not accepting the new technologies and the high production cost are two major restraints that hinder the market.
Market segmentation:
The Microencapsulated Pesticides Market is segmented into major parts. The major parts are Type, Technology, crop type, and mode of application. Based on the type, the market is divided into Herbicides, Insecticides, Fungicides, and Others. By Technology, the market is fragmented into Physical, Physio-Chemical, and Chemical. The Crop Type of the market is Fruits Vegetables, Cereals Grains, Oilseeds Pulses, and Others. The Mode of Application of the Microencapsulated Pesticides Market is Foliar Spray, Fertigation, and Others. Each segment of the market will showcase growth in the forecast period.
Regional analysis:
Based on the geographical analysis, the market is studied in Europe, Asia Pacific, North America, and the rest of the world. Europe is in the lead position in terms of value and volume. The region is estimated to register the same growth due to the favorable government initiatives for integrated pest management practices. Increasing awareness about the importance of microencapsulated pesticides in the region is expected to drive the Microencapsulated Pesticides Market in the European region. North America and the Asia Pacific are also showcasing significant growth rates as China and India are expected to be highly lucrative markets. Other regions of the market are holding some of the value of the market and are going at a good pace.
Key Players:
BASF SE (Germany), Bayer Cropscience AG (Germany), The DOW Chemical Company (US), The Monsanto Company (US), Syngenta AG (Switzerland), FMC Corporation (US), ADAMA Agricultural Solutions Ltd. (Israel), Belchim Crop Protection (Belgium), Reed Pacific Pty Limited (Australia), UPL Corporation Ltd. (India), EcoSafe Natural Products Inc. (Canada), GAT Microencapsulation Gmbh (Austria), China National Chemical Corporation (China), McLaughlin Gormley King Company (US), and BotanoCap Ltd. (Israel) are the global Key Microencapsulated Pesticides Market Players.
Industry news:
The new Ecothrin® insecticide, which is becoming part of the LIDA Plant Research product range, has a microencapsulated formulation that provides greater persistence and control against insects.
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