Impact of COVID-19 on Economy, Industry and Company:
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
"Global Microencapsulated Pesticides Market was Valued at US$ 335.5 Mn in 2019 and it is Expected to Reach More than US$ 865.2 Mn by 2028, Likely to Grow with the CAGR of 11.1% During the Forecast Period."
Microencapsulated pesticides are the dry or liquid pesticides encapsulated in small-sized plastic capsules. These pesticides are mixed with water and sprayed. The Plastic walls of capsules break on spraying and the pesticide is slowly released. This helps in the gradual release of the pesticide which avoids a loss.
The microencapsulated pesticides market market is driven by growth in demand for pesticides that are effective in insect control and reduces the toxicity risks to the environment and human health.
Reduced Toxicity and Commercialization of the Microencapsulated Pesticides is Anticipated to Drive the Global Microencapsulated Pesticides Market
In 2017, According to the United Kingdom’s of Environmental stated that an average of 200,000 people dies from the toxic exposure of pesticides every year. The Microencapsulated Pesticides are much safer as compared to other chemicals designed for pest control, reduced odor, slow release of the active ingredient prolongs its effectiveness, the pesticide volatilizes more slowly and there will less wastage of pesticide. These factors are likely to that boost the global microencapsulated pesticide market.
The commercialization and growth of the global Microencapsulated Pesticides market over the past years have been highly impactful. The convenient to use and precise control over the situation when an active ingredient is released are the major factors driving the growth of the microencapsulated pesticide market over the forecast period is Furthermore, an increase in the pests which have led to crop damage on a large scale and constant technological advancements has led to an increase in the microencapsulated pesticides market over the forecast period.
Moreover, there is a constant increase in the population which has led to the increased demand for which in turn increased the demand for food. According to the Population Reference Bureau report, it is estimated that the world population will reach up to 9.8 billion by the end of 2050. This has increased the agriculture industry will boost the demand for Microencapsulated Pesticides over the forecast period.
However, the high cost of production is one of the major restraints for the growth of the microencapsulated pesticides market.
The Insecticides Segment Held the Largest Share in Global Microencapsulated Pesticides Market in 2019
Insecticides accounted for over 30% market share which is the largest share in the microencapsulated pesticides market in 2019. It is expected to expand at the highest growth during the forecast period. Insecticides are applied in different formulations such as sprays, gels, or baits to target insects. They are beneficial in the fields of agriculture, forestry, and public health. Globally, the product commercialization and research & development activities are more concentrated toward microencapsulated insecticides.
While herbicides segment is an anticipated significant share of the microencapsulated pesticides market over the forecast period. Herbicides are chemicals used on a large scale to kill unwanted vegetation. They are generally utilized to kill or inhibit the growth of weeds.
The Agricultural Segment is Expected to Witness Highest Growth in the Microencapsulated Pesticides Market Across the Globe
The agricultural segment accounted for US$ 204.88 million in revenue as a dominant share of the global market, in 2019. The segment is estimated to expand rapidly at a CAGR of XX % during the forecast period. The direct use of non-microencapsulated pesticides may cause losses due to evaporation, leaching, and degradation. As they provide protection to the pesticide molecules from direct contact with the environment the microencapsulated pesticides are preferred more in agriculture.
Europe Held the Largest Market Share in the Global Microencapsulated Pesticides Market in 2019
Europe accounted for the largest market share in 2019 and is estimated to continue its dominance during the forecast period. Rise in awareness about the benefits of microencapsulated pesticides and favorable government initiatives for integrated pest management (IPM) practices in the region are anticipated to drive the demand for microencapsulated pesticides in Europe in the future. Additionally, The European Crop Protection Association (ECPA) encouraging the use of modern agricultural technologies in sustainable development to protect human health and the environment. These factors are likely to boost the demand for Microencapsulated Pesticides.
In terms of consumption, North America and the Asia Pacific follow Europe. The Asia Pacific is estimated to be one of the fastest-growing markets for microencapsulated pesticides during the forecast period. China and India are expected to be highly lucrative markets for Microencapsulated pesticides during the forecast period.
The global Microencapsulated Pesticides market is dominated by large players. Key players operating in the global market are Syngenta, Bayer AG, BASF SE, ADAMA Agricultural Solutions Ltd., FMC Corporation, Monsanto, BotanoCap, Arysta LifeScience, GAT Microencapsulation, Reed Pacific, and Belchim.
Microencapsulated Pesticides Market Key segments:
Microencapsulated Pesticides Market, By Type
- Others (nematicides, termiticides, acaricides, fumigants, and petroleum oils)
Microencapsulated Pesticides Market, By Technology
Microencapsulated Pesticides Market, By Application
Microencapsulated Pesticides Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America