The Asia pacific molluscicides market is projected to register a CAGR of 3.4% during the forecast period 2020-2025. Molluscicides are the pesticides used for controlling mollusks (snails and slugs). The mollusk species have become one of the major threats causing huge agricultural losses. These species are majorly seen in cereal crops such as wheat, barley, oats, and also horticultural crops. The major drivers for this market include increasing adoption of agrochemicals, rising demand for high-value horticulture crops, and infestation of golden apple snail in the rice fields of Asia. Further, increasing awareness for mollusks control among farmers and the introduction of Green eco-friendly molluscicides products are expected to create growth opportunities for this market during the forecast period.
Key Market Trends
Rising demand for High Value Crops
Majorly grown cereal crops in Asia constitute Wheat, Maize, and Rice. Based on the application, the molluscicide market is segmented into cereals and grains, pulses and oilseeds, fruits and vegetables, plantation crops. The Cereals and grains segment dominates the market followed by fruits and vegetables. The overall increase in the usage of molluscicides in this segment is large because of the application of molluscicides to crops such as corn, rice, and wheat. The increase in crop losses due to snails and slugs is increasing every year. Despite these losses, growing demands for the production of these high-value crops in this region are creating an opportunity for the molluscicides market to grow during the forecast period.
Increasing Food Demand and Diminishing Arable Land
With a population of more than 4 billion people living in this region, the demand for food is also increasing at a wide range. Supplying food to this population has been a major concern as the arable land is been gradually decreasing. Thus, the usage of crop protection chemicals has been adopted by farmers in order to increase productivity. And so, there is a huge demand for molluscicides. According to the UN Population Division, the population in India, China, and Southeast Asia is expected to increase, accounting for more than 60% of the global population by 2050. Thus, increasing the usage of crop protection chemicals in this region, in order to increase food production for the growing population.
The Asia Pacific Molluscicide market is fragmented with many players competing in the market. The key players in the market are Bayer Crop Science AG, Lonza Cologne GmbH, UPL Limited, Amvac Chemical Corporation, etc. These companies are investing in Research & Development activities and undergoing strategies such as mergers and acquisitions to occupy a major share in the market. In the year 2018, German chemical and pharma major Bayer AG acquired United States based biotech major Monsanto to create the world’s biggest Agro-chemical and seed company. The presence of various local players such as De Sangosse, Hangzhou choisun biotech co. ltd, Qingdao Agro-Unitek Cropscience Co., Ltd, Animal Control Technologies Pvt Ltd. is also seen in the market.
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