USD 603.23 million
Report ID:
SQMIG15C2054 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
64
|Figures:
75
Global Microencapsulated Pesticide Market size was valued at USD 603.23 million in 2022 and is poised to grow from USD 679.84 million in 2023 to USD 1769.29 million by 2031, at a CAGR of 12.7% during the forecast period (2024-2031).
The rising use of microencapsulated insecticides in agriculture to manage various disease vectors and pests is a major driver driving market expansion. This herbicide is also effective against bug infestation, invasive plants, mosquitoes, rats, mice, and various other pests. The increasing use of microencapsulated insecticides in agricultural applications is expected to be the primary driver of market expansion in the coming years.
Microencapsulated pesticides are small capsules with a circumference of 1-1000 m that are packed with liquid, solid, or gas ingredients and have been widely used in agricultural and non-agricultural applications including forestry, ornamental and turf, structural, and others. Pesticide capsules are dissolved in water and sprayed on crops. The polymer shell of the capsule dissolves in water and slowly releases the insecticide. This is a method of gradually introducing pesticides into water while also controlling its loss. Microencapsulated capsules offer a variety of advantages, including crop protection from insect attack, stealth liquid to solid conversion, reactive component separation, and more.
Insecticides are popular microencapsulated insecticides because they can lessen the impact of insects by killing individuals or stopping them from performing damaging behavior. Insecticides are designed to kill insects or to moderate or lessen the risk of attacks by insects on crops. Insecticides function in a wide range of ways, including some damaging nerve systems and others destroying their exoskeletons. Insecticide use in crop protection is anticipated to rise in the future years, contributing to market growth.
Microencapsulated insecticides are widely employed in agricultural and non-agricultural applications. These pesticides are used in agriculture to keep insects from destroying crops. Farmers use these insecticides extensively to ensure the safety and security of their crops. Growing agricultural activities as a result of rising food consumption are expected to drive up demand for microencapsulated insecticides in the coming years. Non-agricultural applications include the use of pesticides in livestock, both residential and commercial properties, food processing, & public health situations. The increased demand for pesticides in the most convenient and safest form possible is expected to drive market expansion.
The government has undertaken a number of steps to reduce the harm caused by pesticides to persons and the environment. Pesticides are a group of chemicals that can be toxic to individuals and the natural world and create a variety of problems. As a result, several governments around the world have put various rules on its consumption, transit, and storage.
US Microencapsulated Pesticide Market is poised to grow at sustainable CAGR for the next forecast year.
Global Market Size
USD 603.23 million
Largest Segment
Agricultural
Fastest Growth
Agricultural
Growth Rate
12.7% CAGR
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The global microencapsulated pesticide market is segmented on the basis of type, application, and region. Based on type, the market is segmented into insecticides, herbicides, rodenticides, fungicides, and others. Based on application, the market is segmented into agricultural, and non-agricultural. Based on region, the global microencapsulated pesticide market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Microencapsulated Pesticide Market Analysis by Type
Insecticides dominated the market, accounting for around 55% of total revenue in 2022. Its significant proportion is due to its increasing consumption for eradicating insects that may harm agricultural crops. Insecticides are regarded as the most viable alternative for farmers seeking to protect their crops against pest assault. Growing agricultural operations, combined with cheap pesticide prices, are expected to contribute to market growth in the coming years.
Herbicides are another sort of microencapsulated pesticide that is expected to increase significantly in the coming years. The increase is linked to the increased use of herbicides as pesticides and for the control of undesired vegetation. Herbicides are excellent at killing weeds and protecting crops. Herbicide demand is predicted to rise in the next few years due to an increase in agricultural, forestry, & gardening applications.
Fungicides are widely used in agriculture and gardening to keep fungi from destroying crops or plants. Fungi are devastating to agriculture, causing significant crop damage and loss of production, profit, and quality. Fungicides are widely used in agricultural applications to reduce the impacts of fungi. The increased requirement to protect crops from fungi is predicted to boost fungicide demand in the coming years.
Microencapsulated Pesticide Market Analysis by Application
Agricultural applications dominated the market, accounting for around 65% of total revenue in 2022. Its large share can be attributed to increased global food demand. Humans' basic need has always been food. Over the last few years, the world's population has increased food consumption. Food production has increased as food demand has increased, fueling agricultural activity around the world.
Microencapsulated insecticides are used extensively in agriculture to protect crops from undesirable plants, insects, fungi, and other organisms. Food demand is expected to increase in the next few years, contributing to market growth. Livestock, residential and commercial, & food processing are examples of non-agricultural applications for microencapsulated insecticides.
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Europe dominated the microencapsulated pesticides market, accounting for approximately 34.0% of total sales in 2022. This is due to increased agricultural productivity throughout European countries. The increasing number of people and rising food consumption have been the primary drivers of market expansion in Europe. Europe is the leading producer of rice, wheat, grain, potatoes, soy beans, and other crops. Growing agricultural activities are expected to increase demand for microencapsulated insecticides in Europe in the coming years.
Asia Pacific is the world's most populous region. With 4.3 billion people, this region makes up 60% of the total global population, according to the UN Fund for Population Activities (UNFPA). The region's increasing population has been a major contributor to the region's rising food consumption, which has fueled agricultural activity. Pesticides are frequently used by farmers to safeguard their crops against insect assault. Pesticides, on the other hand, are regarded detrimental to the natural world due to their hazardous nature, however microencapsulated insecticides provide a little more safety due to their polymer cover; consequently, it is widely consumed in Asia Pacific and is expected to rise in the future.
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Microencapsulated Pesticide Market Drivers
Enhanced Efficacy
Formulation Complexity
Microencapsulated Pesticide Market Restraints
Limited Compatibility
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Key market players are considering major investments in production facility expansion and creation of novel products. Rapid research and development operations have propelled product design as well as quality assurance innovation. The agricultural industry's high demand for microencapsulated pesticides has produced an environment of intense competition for its manufacturers, which is expected to operate as a barrier for new entrants.
Microencapsulated Pesticide Market Top Player’s Company Profiles
Microencapsulated Pesticide Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global microencapsulated pesticide market analysis, the rising use of microencapsulated insecticides in agriculture to manage various disease vectors and pests is a major driver driving market expansion. This herbicide is also effective against bug infestation, invasive plants, mosquitoes, rats, mice, and various other pests. The increasing use of microencapsulated insecticides in agricultural applications is expected to be the primary driver of market expansion in the coming years.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 603.23 million |
Market size value in 2031 | USD 1769.29 million |
Growth Rate | 12.7% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
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MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Microencapsulated Pesticide Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Microencapsulated Pesticide Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Report ID: SQMIG15C2054