$725+ Million Molluscicides Market by Type, Application, Form and Region - Global Trends & Forecast to 2023

Dublin, Nov. 02, 2018 (GLOBE NEWSWIRE) -- The "Molluscicides Market by Type (Chemical (Metaldehyde, Methiocarb, Ferric Phosphate) and Biological Molluscicides), Application (Agricultural and Non-Agricultural), Form (Pellets, and Liquid & Gel), and Region - Global Trends & Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The molluscicides market is estimated at USD 587.8 million in 2018 and is projected to reach USD 727.8 million by 2023. It is projected to grow at a CAGR of 4.4% from 2018 to 2023.

The market is primarily driven the increased commercial production of horticulture crops such as fruits, vegetables, herbs, and nuts in recent years. The demand for such crops of refined and varied characteristics has been increasing worldwide, thereby increasing the market for molluscicides products.

Molluscicide resistance is the natural ability of mollusks to survive exposure to strong active chemicals due to genetic modification and exhibit low susceptibility levels. Attaining this is the major challenge faced by the molluscicides industry.

On the basis of application, the agricultural segment is projected to grow at the higher CAGR. Snails impact most horticulture crops; this necessitates the adoption of agrochemicals for slug and snail control. Moreover, since the investment in production is usually higher in horticulture as compared to field crops, the growth in the horticulture industry becomes a driver for the market for molluscicides.

Based on type, the biological molluscicides segment is projected to be the fastest-growing segment during the forecast period. The increasing awareness about biological crop protection products has not only resulted in increased use of snail and slug control products but has also led to awareness about the potential for more profitable opportunities with minimum loss.

Based on form, the pellets segment is projected to be the fastest-growing segment during the forecast period. Pellet formulations are usually recommended for small as well large cures, as dusting powders are ready for use; are more easily applied compared to other methods; are easily supplied; and are available in proper small packs, which are reasonably priced and easy to use.

Asia Pacific is projected to be the fastest-growing market between 2018 and 2023. The usage of molluscicides is increasing gradually in developing economies due to continued growth in the major Asia Pacific economies and the increasing awareness about the use and benefits of molluscicides. The dominant form of agriculture in this region is wet-rice cultivation. These crops require a large amount of molluscicides. Thus, as food production is projected to increase in this region, so is the consumption of molluscicides.

Market Dynamics

Drivers

• Rain-Fast Characteristic - An Important Attribute for the Increasing Demand for Molluscicides
• Increasing Adoption of Agrochemicals in Developing Countries
• Infestation of Golden Apple Snail in the Rice Fields of Asia
• Demand for High-Value Horticulture Crops

Restraints

• Limited Applicability
• Geographical Limitation on Molluscicides Usage
• Regulatory Restrictions on the Use of Molluscicide Products
• Lack of Competence and Adequate Resources
• Traditional Pest Control Methods Used By Farmers

Opportunities

• Emerging Markets for Molluscicides in Asia Pacific
• Introducing Green Eco-Friendly Molluscicide Products and the Growing Awareness for Mollusk Control

Challenges

• Excessive Use of Harmful Chemicals Causing A Threat to the Environment
• Metaldehyde Poisoning Risks and Extreme Usage of Other Harmful Chemicals
• Bioaccumulation
• Toxicity for Non-Target Organisms
• Molluscicide-Tolerant Organisms

Companies Mentioned

• Adama Agricultural Solutions
• American Vanguard Corporation
• BASF
• Bayer Cropscience
• Certis Europe
• De Sangosse
• Doff Portland
• Lonza Group
• Marrone Bio Innovations
• Neudorff GmbH
• PI Industries
• Syngenta

For more information about this report visit https://www.researchandmarkets.com/research/xgmnwg/725_million?w=12

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Related Topics: Agrochemicals and Fertilizers