According to the report published by Mordor Intelligence, the global molluscicide market is expected to register a CAGR of 4.7% during the forecast period, 2018 to 2023. The market was valued at USD 0.8 billion in 2017 and is estimated to reach a value of USD 1.0 billion by 2023.
The report elucidates the emerging trends in the global molluscicide market. Also, leading companies in all regions, along with their market shares have been profiled in the report. The global molluscicide market is segmented by product group, by application, and by geography. Porter’s five forces analysis is also included in the report.
Based on product type, the molluscicide market has been segmented into metaldehyde, ferric/iron phosphate, methiocarb, and niclosamide. The worldwide consumption trends of these chemicals by type have changed significantly in the previous years. Currently, metaldehyde constitute the largest market share in terms of consumption and is expected to face strong competition from ferric/iron phosphate, globally. Low cost and easy availability of the product is driving the growth of this segment.
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By application, grains and cereals utilize the maximum amount of molluscicides among others, accounting for 45%, followed by fruits and vegetables segment. Slugs are the most dangerous pest of oilseed and metaldehyde is the main pesticide used for controlling slugs, in oilseed rape and wheat. Growing need of slug control pesticide for oilseed, the oilseed segment is expected to be the fastest growing segment by application type.
By geography, North America dominated the market, occupying the highest share in the market, however, Asia-Pacific is expected to be the fastest growing region, due to infestation of golden apple snail in the rice fields of Asia. India, Australia, and New Zealand are expected to be the major contributors in this region.
Molluscicide Market Dynamics
Increasing demand for neem-based pesticides, rain-fast characteristics, and emergence of golden apple snail as a serious pest in Asia and Southeast Asia, are the major factors driving the global molluscicide market. However, the likely factors constraining the market include several health and environment hazards caused due to the use of chemical molluscicides and limited investment in R&D. Nevertheless, growing demand for organic pesticides and growing awareness about mollusks control can serve as an opportunity for the global molluscicide market.
Major companies in this market, profiled in the report, includes Lonza Group AG, Doff Portland Ltd, Certis Europe BV, W. Neudorff GmbH KG, Bayer CropScience Limited, Westland Horticulture Ltd, Chiltern Farm Chemicals Ltd, Farmco Agritrading Ltd, Sipcam Ltd, ADAMA, and The Scotts Company Ltd, among others. The companies, along with innovations and expansions, have been investing in research and development in protecting the crop from snails and snugs and introducing bio-based product portfolio, which is likely to be a strategic move to hold larger market shares.