The microencapsulated pesticides are in the introduction period as very few international players are offering such products.
HYDERABAD, TELANGANA, INDIA, November 24, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Microencapsulated Pesticides market size is forecast to reach US$520.9 million by 2026, after growing at a CAGR of 8.3% during 2021-2026. Pesticides with a protective layer over the active ingredient are known as microencapsulated pesticides. The controlled release technique is used to boost the efficiency of pesticides by microencapsulating them. High implementation of integrated pest management programs across the globe is one of the key factors due to which the market is anticipated to accelerate during the forecast year. Also, the increasing requirement for pesticides that are efficient in insect control is expected to bolster the growth of the encapsulated pesticides market over the coming years. In addition, growing innovative and advanced developments in the agrochemicals industry for protecting the crops is positively influencing the market growth.
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This IndustryARC report on the Microencapsulated Pesticides Market highlights the following areas –
1. Europe dominates the microencapsulated pesticides market, owing to the increasing agricultural sector in the European region. The increasing per capita income and evolving lifestyle of individuals coupled with the rising population are the major factors expanding the agriculture sector in Europe.
2. The pressure to use pesticides and the belief of farmers that they are very necessary for agriculture production is one of the supportive facts fueling the demand for microencapsulated pesticides in this region.
3. The microencapsulated pesticides are in the introduction period as very few international players are offering such products. Also, these pesticides are very costly than conventional one. Due to which market penetration will hinder in coming years.
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Microencapsulated Pesticides Market Segment Analysis – By Type : The insecticide segment held the largest share in the microencapsulated pesticides market in 2020 up to 57% by revenue and is estimated to grow at a CAGR of 8.6% during 2021-2026.
Microencapsulated Pesticides Market Segment Analysis – By Technology : The physical segment held the largest share in the microencapsulated pesticides market in 2020 and is forecasted to grow at a CAGR of 8.7% during 2021-2026.
Microencapsulated Pesticides Market Segment Analysis – By Application : The agriculture segment held the largest share of 63% by revenue in the microencapsulated pesticides market in 2020. Microencapsulation of pesticides, fertilizers, and various other agrichemicals allows the users to precisely control the conditions under which the active ingredient is released.
The top 5 players in the Microencapsulated Pesticides Industry are –
1. Syngenta AG
2. Bayer Crop Science LLC
3. Adama Agriculture Solutions
4. BASF Chemical Company
5. FMC Corporation
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