Microencapsulated Pesticides Market is valued at USD 461.61 Million in 2021 and expected to reach USD 889.87 Million by 2028 with a CAGR of 9.83% over the forecast period.
Pesticides are the chemical substance used to kill pest and protect crops from various pests. Microencapsulated pesticides are covered within a capsule it is mixed with water and sprayed over the crops. After spayed the capsule wall breaks and slowly releases the chemical which kills the pests. So, during the study of Global Microencapsulated Pesticides market, we have considered Microencapsulated Pesticides type and crops to analyze the market.
Global Microencapsulated Pesticides Market report is segmented on the basis of product type, crop type and by regional & country level. Based upon Product type, global Microencapsulated Pesticides Market is classified as insecticides, herbicides, fungicides and rodenticides. Based upon crop type, global Microencapsulated Pesticides Market is classified as cereals & grains, oilseeds & pulses, fruits & vegetables, and turf & ornamental.
The commercialization and growth of global Microencapsulated Pesticides market over the past 25 years has been highly impactful. One of the major factors driving the growth of microencapsulated pesticides market over the forecast period is convenient use and precise control over the situation when active ingredient is released. There is a constant increase in the population which has led to the increased demand for which in turn increased the demand for food. For instance, as per 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 over the forecast period. Furthermore, increase in the pests which has led to crop damage on a large scale and constant technological advancements has led to the increase in microencapsulated pesticides market over the forecast period. However, High cost of product is expected to hamper the growth of microencapsulated pesticides market over the forecast period.
North America dominates the market with highest market share which is closely followed by Europe over the forecast period. As the developed regions are growing tremendously due to the large population base and various technological advancements coupled with rapid industrialization. This has reduced the farming area and also affected the fertility of soil. This has increased the production of crops which in turn increased the demand for microencapsulated pesticides. Asia Pacific is the third largest region over the forecast period closely followed by Latin America. Due to the presence of developing economies and large population base in the region most of the economies are dependent on agriculture. For instance, As per IASRI (Indian Agricultural Statistics Research Institute) in India, agriculture, forestry and fisheries accounts for 17% of total GDP. Thus all the above mentioned factors are expected to support the growth of Microencapsulated pesticides over he forecast period.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 461.61 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 889.87 Million|
|Tables, Charts & Figures:||175|
|Companies/ Key Players||BASF, Bayer AG, Monsanto, Syngenta, ADAMA, BotanoCap, McLaughlin Gormley King,
Belchim, FMC Corporation, GAT Microencapsulation, Arysta LifeScience, Reed Pacific
|Segments Covered||By Product Type, By Crop Type|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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