Market Forecast:
Molluscicides help in improving agricultural productivity by killing mollusks such as shellfish, octopi, squid, snails, and slugs in the plantation. Increasing population and growing demand for food have led to high agricultural productivity which is driving the growth of the Molluscicides Market Growth. Moreover, limited availability of cultivable land is boosting the demand for molluscicides to increase farm productivity.
Growing acceptance of modern farming is adding fuel to the growth of Molluscicides Market Growth. Owing to improve the efficiency of molluscicides, major players are investing in research and development and introducing bio molluscicides which have opened doors for the growth of global Molluscicides Market Growth. However, stringent regulations on the use of molluscicides may hamper the growth of Molluscicides Market Growth. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 3.9% of Molluscicides Market Growth during the forecast period 2021-2027.
Market Overview:
Molluscicides are chemical substances or biocides developed specifically for destroying mollusks. Mollusks cause huge agricultural losses and have become a major agricultural threat. They feed both above and below the surface of the ground, on seeds, seedlings, and plants, damaging the roots, leaves, and flowers which reduce the plant growth and crop yield. Plant residues and organic manure on soil surface along with the moist conditions leads to the production of mollusks. Most commonly used molluscicides include metaldehyde, iron phosphate, niclosamide, and others.
Downstream Analysis:
Molluscicides Market Growth is segmented on the basis of type such as metaldehyde, iron phosphate, niclosamide, and others. Among all, the metaldehyde is dominating the market and is expected to grow substantially over the forecast period. Easy availability and the reasonable cost of the product is driving the growth of this segment. However, the iron phosphate is projected to gain moderate growth over the forecast period.
On the basis of application, Molluscicides Market Growth is segmented into grains and cereals, oil seeds, fruits and vegetables, ornamentals, and others. Among all, the fruits and vegetables segment is dominating the market followed by ornamentals. Growing demand for fruits and vegetables among the rising population is expected to surge the growth of this segment during the estimated period.
Competitive Analysis:
The Major Players in the Molluscicides Market Growth
- Lonza Group AG (Switzerland)
- BASF SE (Germany)
- Marrone Bio Innovations, Inc. (U.S.)
- Bayer Crop Science (Germany)
- Adama Agricultural Solutions (Israel)
- De Sangosse SAS (France)
- Amvac Chemical Corporation (U.S.)
Regional Analysis:
The global Molluscicides Market Growth is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the market followed by Europe. In North America, the U.S. is the major contributor of molluscicides. However, stringent environmental regulations in the developed economies of North America and Europe are expected to restraint market growth in these regions. Bio based molluscicides are expected to offer huge growth opportunity in North America and Europe.
Asia Pacific is observed to be the emerging market for molluscicides. India and Australia are the major contributors to the growth of Molluscicides Market Growth in this region. For rest of the world, South America is projected to witness high growth owing to increasing demand for crops in this region.
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Market Segmentation:
Molluscicides Market Growth is segmented on the basis of type, application, and region.
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