Molluscicides Market Overview
The global Molluscicides Market is expected to register a CAGR of 5.8% from 2019 to 2024 and reach USD 2.23 billion by the end of 2024 Molluscicides are chemical substances or biocides developed specifically for destroying mollusks. Mollusks cause huge agricultural losses and have become a major agricultural threat. They feed both above and below the surface of the ground, on seeds, seedlings, and plants, damaging the roots, leaves, and flowers which reduce the plant growth and crop yield. Plant residues and organic manure on soil surface along with the moist conditions leads to the production of mollusks. Most commonly used molluscicides include metaldehyde, iron phosphate, niclosamide, and others.
Molluscicides Market help in improving agricultural productivity by killing mollusks such as shellfish, octopi, squid, snails, and slugs in the plantation. Increasing population and growing demand for food have led to high agricultural productivity which is driving the growth of the molluscicides market. Moreover, limited availability of cultivable land is boosting the demand for molluscicides to increase farm productivity.
Some of the key players profiled in the Global Molluscicides Market are Lonza Group AG (Switzerland), BASF SE (Germany), Marrone Bio Innovations, Inc. (U.S.), Bayer Crop Science (Germany), Adama Agricultural Solutions (Israel), De Sangosse SAS (France), Amvac Chemical Corporation (U.S.)
Molluscicides market is segmented on the basis of a type such as metaldehyde, iron phosphate, niclosamide, and others. Among all, the metaldehyde segment is dominating the market and is expected to grow substantially over the forecast period. Easy availability and reasonable cost of the product is driving the growth of this segment. However, the iron phosphate is projected to gain moderate growth over the forecast period.
The Global Molluscicides Market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the market followed by Europe. In North America, the U.S. is the major contributor of molluscicides. However, stringent environmental regulations in the developed economies of North America and Europe are expected to restraint market growth in these regions. Bio based molluscicides are expected to offer huge growth opportunity in North America and Europe.
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