Thecompetitive landscape of the microencapsulatedpesticides market is fragmented with the presence ofplethora of players, says Transparency Market Research (TMR). Some of theprominent players operating in the microencapsulated pesticides market areBayer AG, Syngenta, BASF SE, ADAMA Agricultural Solutions Ltd., and FMCCorporation.
Theseplayers are focusing towards research and development of activities in order tobroaden their product portfolio. Along with this, they are seeking regulatoryapprovals for new formulations to strengthen their market position.
Further,lowering down the product prices is one of the prominent agenda of themicroencapsulated pesticides. In addition to this, they are adoptingstrategies such as mergers and acquisitions, collaboration and businessexpansion in order to concretize their foothold in the microencapsulatedpesticides market.
Accordingto a report by TMR, The global microencapsulated pesticides market wasvalued at US$ 327.05 mn in 2017. During the forecast period from 2018 to 2026,the microencapsulated pesticides market is anticipated to rise at a CAGR of10.4%.
On thebasis of geography, Europe is anticipated to hold maximum share in the microencapsulatedpesticides market. This is mainly due to the rising awareness regarding theharmful effects of pesticides on the environment and the increasing applicationof integrated pest management in the region. Based on types, the insecticidessegment is expected to lead over all market segment owing to the increasingdemands of by consumers.
FavorableProperties of Microencapsulated Pesticides Over others to Boost Prospects
Themicroencapsulation pesticides market is expected garner a robust growth in thecoming few years. This is mainly due to the growing adoption of themicroencapsulated pesticides by farmers owing to their several benefits. Themicroencapsulated pesticides ensure controlled delivery of active ingredientson the plants and has an effective action over targeted pests.
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Further,lesser harmful impact of environmental and health risks to the applicators, andin turn, is projected to pose a strong influence on the growth of themicroencapsulated pesticides market in the next five years.
Pesticidesare widely used by the famers to kill pests, including insects, fungi, androdents from plants. Thus it helps them improve their production rates, howeveraccess usage of pesticides harm plants, surrounding ecosystem, and humanhealth. Microencapsulated pesticides are innovative concept of pouringpesticides on plants. They ensure that the controlled amount of pesticides arespread on the plants. The ability of the microencapsulated pesticides tocontrol the amount of pest is expected to drive the global microencapsulatedpesticides market in the coming few years.
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Microencapsulatedpesticides are liquid or dry pesticides enclosed in a protective coating madeof plastic, starch, or other material. They are mixed in water and sprayed oncrops. After spraying, the capsule breaks and the pesticide is releasedgradually, which helps in the controlled delivery of pesticides and has aneffective action on targeted pests.
Lower Storage Capacity of theProduct to Hamper Market’s Growth
Despiteseveral drivers, growth in the microencapsulated pesticides market is projectedto hamper due to the factors such as high manufacturing costs, inadequateawareness among farmers, lesser governmental subsidiary. In addition to this,technical restraints such as storage issue pertaining to the products isexpected to hamper the growth of the microencapsulated pesticides market.
Nonetheless,ability of the microencapsulated pesticides to minimizes soil degradation bypreserving its physical and chemical properties are expected to boosts theprospective of the global microencapsulated pesticides market.
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