Microencapsulated Pesticides Market

Upsurging Use of Industrial Gases Across Various Industries Also Thrives the Market Expansion.

The microencapsulated pesticides market in terms of revenue was worth USD 555.7 Million in 2023 and is expected to reach US$ 1,035.6 Million in 2030, growing at a CAGR of 9.3% from 2024 to 2030.

The global microencapsulated pesticides market is a rapidly growing sector of the agrochemicals industry. The global microencapsulated pesticides market is driven by factors such as the increasing demand for food due to the growing global population, the need for more sustainable and eco-friendly pest control solutions, and the high prevalence of pests and diseases that can cause significant damage to crops. The market is expected to continue growing in the coming years due to the increasing awareness of the benefits of microencapsulation technology and the growing demand for more effective and efficient pest control solutions.

Microencapsulation is a technology that involves the packaging of small particles or droplets of a material, such as a pesticide, within a protective coating. The resulting microcapsules can provide several benefits over traditional formulations of pesticides, including improved handling, reduced environmental impact, and enhanced efficacy.  Microencapsulated pesticides can also be used in residential and commercial settings, such as for pest control in homes, hotels, and other buildings. One of the arein advantages of microencapsulated pesticides is their ability to reduce the amount of pesticide needed to achieve the desired effect. Because the active ingredient is encapsulated within a protective coating, it is less likely to degrade or be washed away by rain, which can reduce the amount of pesticide that reaches the target organism. This can result in less environmental contamination and reduced exposure to non-target organisms. Overall, microencapsulated pesticides offer several advantages over traditional pesticide formulations, including improved handling, reduced environmental impact, and enhanced efficacy.

The Covid-19 pandemic had a mixed impact on the market for microencapsulated pesticides. On one hand, the increased demand for food and agricultural products during the pandemic led to increased demand for pesticide products, including those that use microencapsulation technology. This trend was particularly evident in the developing world, where the pandemic disrupted supply chains and led to food shortages in some regions. On the other hand, the pandemic also led to disruptions in the global supply chain for chemicals and other raw materials, which affected the production and availability of microencapsulated pesticides. Some manufacturers experienced delays in obtaining raw materials, which in turn impacted their ability to produce and distribute products. This resulted in some temporary shortages of microencapsulated pesticides in some markets. However, the long-term outlook for this technology remains positive, as the benefits of microencapsulation in terms of improved efficacy, safety, and convenience continue to drive demand for these products in many applications.

Increasing awareness regarding microencapsulated pesticides and high technological advancement are boosting the growth of the global microencapsulated pesticides market. The idea of spending millions on a microencapsulated pesticides that will be effective in the future is forcing companies to bet heavily on new product development in the agriculture market. For example, recently, in April 2022, Farmers in India able to protect their crops and boost productivity with the launched of Exponus insecticide by BASF. The pioneering solution is powered by BASF’s new active ingredient, Broflanilid in a specialized formulation. As well, ADAMA, a leading global crop protection company, and ALRISE Biosystems, a drug-delivery company focused on advanced microencapsulation of active ingredients, announced the signature of an R&D agreement to develop new innovative and sustainable crop protection products with ALRISE’s proprietary ImSus encapsulation technology.

Increasing adoption of microencapsulated pesticides has led many businesses to invest millions of dollars in the market. BASF, ADAMA, FMC Corporation, McLaughlin Gormley King, Bayer AG, Syngenta, Rockwell Labs and many other businesses are contributing to expanding their roots in this sector by executing organic strategies. For example, in 2020, FMC Corporation Work has done the partnership with Zymergen to Accelerate Discovery of Breakthrough Crop Protection Technologies. As well, in February 2021, FMC Corporation entered a strategic collaboration with Novozymes, the world leader in biological solutions, to research, co-develop and commercialize biological enzyme-based crop protection solutions for growers around the world.  All these business strategies are increasing the global sales of the microencapsulated pesticides market.

North America has accounted for almost XX% of the market share in the market for microencapsulated pesticides. This is due to Microencapsulated pesticides enhancing agricultural yield positively influencing the North America market growth. For example, according to an article, in the United States, pesticides are used on 900,000 farms and in 70 million households.

Analyst Comment: ""Huge investments by various businesses and participation in microencapsulated pesticides are generating lucrative opportunities for the microencapsulated pesticides market worldwide and are projected to reach US$ 1,035.6 million in 2030.""