NEWARK, Del, Aug. 23, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the Global Molluscicide Market is forecast to attain a valuation of US$ 126.4 million in 2023. Over the forecast period from 2023 to 2033, global molluscicide sales are likely to rise at 6.9% CAGR, taking the overall market size to US$ 247.4 million by 2033.
Demand in the market is anticipated to remain high for biological molluscicides owing to their safe and environmentally friendly nature. As per the latest report, biological segment is poised to exhibit a CAGR of 6.8% through 2033.
Growing focus on protecting crops from snail and slug infestation is a prominent factor expected to drive the global molluscicide industry.
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Mollusks such as slugs and snails are harmful pests for fruits, crops, vegetables, ornamental plants, and ecosystems. They are known for their destructive nature on cultivated plants. As a result, need for controlling these pests is becoming more and more important day by day.
Molluscicides are substances or chemicals used to control or kill mollusks, especially those that pose threats to crops. These pesticides are being used across verticals such as agriculture, gardening, aquaculture, etc.
Rising food insecurity along with reduction in arable land is expected to positively influence molluscicide sales during the assessment period.
Mollusks are a great threat to agriculture, causing severe yield losses in a variety of crops globally. To address this and improve crop yield, farmers are increasingly utilizing biological and chemical molluscicides, thereby fostering market growth.
Another prominent factor boosting the target market is the growing popularity of biological molluscicides.
Due to limited number of chemical molluscicides on the market and awareness about their negative impact, end users are rapidly shifting their preference towards eco-friendly molluscicides.
Key Takeaways from this Molluscicide Report:
- The global molluscicide industry valuation is anticipated to reach US$ 126.2 million by 2033.
- Based on source, biological segment is expected to progress at 6.8% CAGR through 2033.
- Based on form, pellet segment is poised to exhibit a CAGR of 6.7% from 2023 to 2033.
- The United States molluscicide market is projected to cross a valuation of US$ 45.6 million by 2033.
- China market is anticipated to top a valuation of US$ 43.7 million by 2033.
- Demand for molluscicides in South Korea is predicted to rise at 6.7% CAGR.
- The United Kingdom market is set to expand at 6.8% CAGR through 2033.
- Molluscicide sales revenue in Japan is predicted to reach US$ 85.7 million by 2033.
“Rising concerns about food insecurity and growing need for improving food protection are creating a conducive environment for the development of the molluscicide industry. To increase their sales and walk with the changing trends, key companies are focusing on developing natural and eco-friendly molluscicides,” - says a lead analyst at Future Market Insights (FMI).
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Competitive Landscape:
Bayer, Lonza, Certis USA L.L.C., Philagro, Zagro, Adama Agricultural Solutions, Agchem Manufacturing Corporation, AMGUARD Environmental Technologies, Neudorff, and Marrone Bio Innovations among others are few of the leading molluscicide manufacturers listed in the report.
These key players are concentrating on introducing new safe and eco-friendly molluscicides to help farmers in managing and controlling the population of mollusks. They are also inclined towards employing tactics such as acquisitions, facilities expansions, mergers, agreements, partnerships, and collaborations to solidify their market positions.
Recent developments:
- In June 2020, a novel ferric phosphate-based molluscicide called Gusto IRON was launched by ADAMA for controlling slug population in the United Kingdom.
- In December 2022, AgriNova New Zealand Ltd. was acquired by ADAMA Ltd. The acquisition will help the company to expand its offerings and solidify its position.
Top Players in the Global Market are:
- Lonza
- Certis USA L.L.C.
- Bayer
- Zagro
- Agchem Manufacturing Corporation
- Adama Agricultural Solutions
- AMGUARD Environmental Technologies
- Neudorff
- Philagro
- Marrone Bio Innovations
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Global Market Segmentation:
By Source:
- Biological
- Chemical
By Form:
- Pellet
- Liquid/Gel
By Application:
- Agricultural
- Fruits and Vegetables
- Oilseed and Pulses
- Cereals & Grains
- Others
- Non-Agricultural
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
About FMI’s – Chemicals and Materials domain:
The Chemicals and Materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials domain. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
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