The microencapsulated pesticides market was evaluated at US$421.152 million for the year 2020 growing at a CAGR of 10.93% reaching the market size of US$784.753 million by the year 2026. Microencapsulated Pesticides refers to coated pesticides capsules used for protection against pests in Crops field, agriculture goods warehouse and cattle feed protection in storage from pests. These are better than liquid spray pesticides as they cause illness when it comes to frequent contact with skin while applying. However, the technique of applying remains the same i.e. it is mixed with water and sprinkled on the crop field after which the capsule breaks open and gets active against pests. As compared to ordinary liquid pesticides, it has resulted in less odor, optimal quantity as desired, and enhanced safety. The cost of microencapsulation can vary considerably and is largely dependent upon the technique employed. The techniques influence the cost of the microencapsulated capsules. As the agriculture industry grows in size due to the change in consumption patterns demanding more crops for healthy, organic, and vegan food, the demand for Microencapsulated Pesticides Market also increases. The market players are adopting the new strategies to turn the markets back to the usual scenario under the lockdown scenario from recovering the impact of COVID-19. The market players have been looking at the market with an optimistic perspective.
The demand is expected to be hampered by the fact that the recent outbreak has further impacted the demand for Microencapsulated Pesticides Market products in several countries. The market growth has been relatively impacted by the initiating of the outbreak since the disruption in the supply chain led to a delay in the order shipments faced by the equipment manufacturers. Under the COVID-19 scenario, the demand for pesticide capsules remained unmet as there was an excess surplus of agricultural produce that remained in the warehouses perished as is due to lack of logistical support and commercial demand from hotels, restaurants, etc. as the economy remained shut. The lack of a workforce added to worsen the situation for farmers. Moreover, the use of pesticides for grounds has taken a brunt drastically. The revival of the industry is expected to follow as the markets go back to normal.
Rising demand for modern farming equipment
The market for Microencapsulated Pesticides is majorly being driven by the globally growing knowledge of modern farming equipment such as pesticides, soil wetter, and other auxiliary items. The focus of the farmer is upon the Microencapsulated Pesticides to increase the yield crop yield and minimize wastage by pests. The use of Microencapsulated Pesticides Market is undertaken to reduce pest attacks. The growth in the market of pesticides capsules can be attributed to the advancement in farming techniques to increase the yield of agricultural land to cater to the demand for food and other natural produce. The pesticides capsules also let the capsules penetrate deep into the fields for better results. Apart from agriculture, an increase in the number of playing turfs, stadiums at the global level increasing the dependency on the to prevent pests by eating up special grass in the land suitable for playing sports such as football, cricket, hockey, etc. The market also serves the needs for specialty landscapes such as lawns, fields for special purposes such as botanical gardening and exotic plants.
With the increase in the demand for logistical and transport support for agricultural production due to increasing distances between the farmlands and the consumer market, the demand for the encapsulated pesticides markets rise.
Geographically, Microencapsulated Pesticides have stable demand in the US agricultural market. Europe has remained an advanced market within the agricultural, exotic plants, and botanical sectors. India Agriculture is of utmost importance to the pesticide industry and can contribute tangibly to it. China can emerge as the largest producer of the pesticide capsule with its manufacturing advancements leading to economies of scale.
The agricultural nations often attract the companies undertaking the production of agricultural equipment and provide ease of doing business by relaxing tax terms, offering good productions sites, etc. For instance, India offers such services to businesses and also offers products at competent rates to marginalized farmers. The UK and US Department of Agriculture have ensured that the pesticides are standardized and must have undergone proper audits and checks by getting certified at FDA. North American nations such as the US and Canada follow a similar route and develop high-quality Microencapsulated Pesticides Market additives to be used in farming.
|Market size value in 2020||US$421.152 million|
|Market size value in 2026||US$784.753 million|
|Growth Rate||CAGR of 10.93% from 2020 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||BASF, Syngenta, FMC Corporation, Reed Pacific, Monsanto, ADAMA, Belchim Crop Protection, ECOSAFE Natural Products Inc, BotanoCap|
|Customization scope||Free report customization with purchase|
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