The microencapsulated pesticides market was valued at 539.5 million in 2021 is expected to reach the value of USD 1,364.68 million by 2029, at a CAGR of 12.30% during the forecast period.
Some of the influential factors for the global microencapsulated pesticides market include the increasing adoption of IPM or integrated pest management particles and increased regulatory support for a sustainable approach to limiting extensive agrochemical application.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Some of the major players operating in the microencapsulated pesticides market are:
Bayer AG (Germany)
BASF SE (Germany)
Yara International (Norway)
Compass Minerals (U.S.)
Syngenta Crop Protection AG (Switzerland)
ADAMA (Israel)
Sumitomo Chemicals (Japan)
Nufarm Limited (Australia)
Microencapsulated Pesticides Market Dynamics
Drivers
Various benefits offered by microencapsulated pesticides in comparison to other pesticides
When compared to other pest control chemicals, microencapsulated pesticides are safer. They also provide benefits such as reduced odour, slow release of the active ingredient, pesticide volatilization, and less pesticide wastage, all of which contribute to the growth of the global microencapsulated pesticide market. Pesticide microcapsule systems can also be designed to reduce mammalian toxicity and extend activity, reduce phytotoxicity, protect pesticides from environmental degradation, reduce leaching, and lower pesticide levels in the environment.
Rising occurrence of insects and pests in crops and agricultural fields
Microencapsulated pesticides market is expected to grow during the forecast period due to factors such as increased risk of pest contamination in livestock feed and rising incidences of insect occurrences in crops. With the global population growing, effective pesticide methods are required for sustainable food production. The global microencapsulated pesticides market is being driven by the implementation of stringent food safety regulations, advancements in agricultural technologies, and international trade of food materials.
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COVID-19 Impact on Microencapsulated Pesticides Market
Due to various economic restrictions and regulations, the agricultural sector’s demand decreased during the global pandemic, Covid-19. Because of these strict lockdown measures, many pesticides units were forced to halt production, limiting the growth of the microencapsulated pesticides market in 2020. Furthermore, due to the outbreak, the production and export of fruits and vegetables decreased, resulting in a decrease in demand for microencapsulated pesticides, resulting in a significant decrease in the market revenue for microencapsulated pesticides. Furthermore, the covid-19 epidemic hampered microencapsulated pesticides’ production, consumption, imports, and exports.
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Global Microencapsulated Pesticides Market Scope
Type
Herbicides
Insecticides
Fungicides
Others
Technology
Physico-chemical
Chemical
Application Industry
Agricultural
Non-agricultural