Molluscicides Market to Witness Unprecedented Growth in Coming Years

MarketsandMarkets
The molluscicides market is estimated to be USD 711 million in 2021 and is projected to reach USD 909 million by 2026, at a CAGR of 8.5% during the forecast period.

The report Molluscicides Market by Type (Chemical [Metaldehyde, Methiocarb, Ferric Phosphate] And Biological Molluscicides), Application (Agricultural and Non-Agricultural), Form (Pellets, and Liquid & Gel), and Region – Global Trends & Forecast to 2026″ The molluscicides market is estimated to be USD 711 million in 2021 and is projected to reach USD 909 million by 2026, at a CAGR of 8.5% during the forecast period. The high commercial losses incurred due to snail attacks on horticulture crops have increased the usage of molluscicides for these crops. Further, the golden apple snail (GAS) is among the growing species of snails that attack rice crops in Asian countries such as China and Japan. For this reason, the demand for biological molluscicides is increasing significantly across all regions.

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Driver: Increase in adoption of agrochemicals in developing countries

Continuous advancements in the technology used in agriculture have led to a shift in farming practices. With the increased export and import of agricultural commodities across different geographies, especially in developing regions, new types of harmful organisms have emerged, leading to an increase in the demand for novel active ingredient products to safeguard crops. Globalization of the agrochemical industry has a huge impact on the Asian crop protection markets. With the highest rate of population growth, increasing the need for food production, and economic growth, the demand for various agrochemicals such as herbicides and pesticides are increasing. While the demand for food products is increasing in the developing countries of Asia Pacific, the available land mass for agriculture is shrinking due to the increased effect of urbanization that propels farmers to use various agrochemicals to maintain soil health and increase land productivity.

By type, the chemical molluscicides is projected to dominate the molluscicides market during the forecast period.

Chemical molluscicides accounted for the larger share, followed by biological molluscicides, in 2020. The growth of the chemical molluscicides market is attributed to the increasing adoption of agrochemicals and their use in the growing high-value horticultural crops. Chemical molluscicides are easily available and affordable; they are exported to various regions across the globe. These factors significantly contribute to the high demand for chemical molluscicides across the globe.

By application, agricultural segment is projected to dominate the molluscicides market during the forecast period.

The molluscicides market, on the basis of application, is segmented into the agricultural and non-agricultural segments. Agricultural application accounted for the larger share in 2020, followed by non-agricultural applications. The overall increase in the usage of molluscicides in the agricultural application is largely because of the application of molluscicides to crops such as corn, rice, and wheat.

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North America is estimated to dominate the molluscicides market in 2020.

North America is estimated to be the largest market for molluscicides in 2020. The high production of corn, oilseeds, and horticulture crops in the region is the major driver for the molluscicides market. Bulk production of these crops creates the need for molluscicides to control insects, pests, and weeds for better and efficient production. The key players in the US market include AMVAC Chemical Corporation (US) and Marrone Bio Innovations Inc. (US). To gain market share, these companies are adopting strategies such as innovative product developments, partnerships, mergers & acquisitions, and expansions of existing facilities.

This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as Lonza Group (Switzerland), Bayer AG (Germany), American Vanguard Corporation (US), BASF SE (Germany), Adama Agricultural Solutions (Israel), Marrone Bio Innovations (US), De Sangosse (UK), Doff Portland (UK), Certis Europe (Netherlands), PI Industries (India), Syngenta Group (Switzerland), Animal Control Technologies Ltd (Australia), Agro-Unitek (China), Impex Europa S.L.(Spain), Industriachimca (Italy), Garden Safe (US), Nufarm (Australia)and Neudorff GmbH (Germany).

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