Market Overview
The global Microencapsulated Pesticides type Market is continually growing. Market growth attributes to the global food demand rising with the ever-increasing population. Besides, factors such as the widening adoption of modern farming practices and increasingly spreading awareness about the benefits of microencapsulated pesticides drive market growth. Currently, pests as western flower trips, aphids, whitefly, and spider mites are controlled by conventional chemical insecticides.
Resultantly, the rising demand for robust, targeted delivery systems for the effective control of pets escalates the market demand. According to Market Research Future (MRFR), the global Microencapsulated Pesticides type Market is projected to reach USD 712 MN by 2024, growing at 12.34% CAGR during the assessment period (2019 to 2024). Augmenting demand for organic produces and surge in farming land under modern cultivations foster market growth.
Key Players
Players leading the global Microencapsulated Pesticides type Market include Bayer Cropscience AG (Germany), BASF SE (Germany), The DOW Chemical Company (US), Syngenta AG (Switzerland), The Monsanto Company (US), FMC Corporation (US), Belchim Crop Protection (Belgium), ADAMA Agricultural Solutions Ltd. (Israel), Reed Pacific Pty Limited (Australia), EcoSafe Natural Products Inc. (Canada), UPL Corporation Ltd. (India), GAT Microencapsulation Gmbh (Austria), McLaughlin Gormley King Company (US), China National Chemical Corporation (China), and BotanoCap Ltd. (Israel), among others.
Market Segmentation:
The report is segmented into five dynamics;
By Type : Herbicides, Insecticides, Fungicides, and others.
By Technology : Physical, Chemical, Physio-Chemical, and others.
By Crop Type : Fruits & Vegetables, Cereals & Grains, Oilseeds & Pulses, and others.
By Mode of Application : Foliar Spray, Fertigation, and others.
By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-World.
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Regional Analysis
North America dominates the global Microencapsulated Pesticides type Market. The market growth attributes to the adoption of integrated pest management by farmers. Moreover, ongoing technological research and development in microencapsulated pesticides fuel the growth of the regional market.
Besides, the increasing awareness among cultivators about the benefits of microencapsulated pesticides, alongside the large user base, impacts market growth positively. Also, the ample availability of farming land under cultivation and growing demand for organic produce drives the regional market growth. The European Microencapsulated Pesticides type Market is projected to retain its dominance throughout the review period
North America stands second in the global Microencapsulated Pesticides type Market. The market is driven by the growing agriculture sector and augmenting demand for organic produce in the region. Additionally, the rapidly growing demand for natural food products and the presence of many notable industry players positively impact market growth. With its augmenting demand for organic food products, the US holds the largest share in the regional market. The North American Microencapsulated Pesticides type Market is expected to witness steady growth throughout the forecast period.
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