The global molluscicide market is expected to reach a valuation of USD 126.4 million in 2023, according to Future Market Insights (FMI). Global molluscicide sales are anticipated to increase at a 6.9% compound annual growth rate (CAGR) between 2023 and 2033, bringing the total market size to USD 247.4 million.
Demand in the market is anticipated to remain high for biological molluscicides owing to their safe and environmentally friendly nature. As per the latest report, biological segment is poised to exhibit a CAGR of 6.8% through 2033.
Growing focus on protecting crops from snail and slug infestation is a prominent factor expected to drive the global molluscicide industry.
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Mollusks such as slugs and snails are harmful pests for fruits, crops, vegetables, ornamental plants, and ecosystems. They are known for their destructive nature on cultivated plants. As a result, need for controlling these pests is becoming more and more important day by day.
Molluscicides are substances or chemicals used to control or kill mollusks, especially those that pose threats to crops. These pesticides are being used across verticals such as agriculture, gardening, aquaculture, etc.
Rising food insecurity along with reduction in arable land is expected to positively influence molluscicide sales during the assessment period.
Mollusks are a great threat to agriculture, causing severe yield losses in a variety of crops globally. To address this and improve crop yield, farmers are increasingly utilizing biological and chemical molluscicides, thereby fostering market growth.
Another prominent factor boosting the target market is the growing popularity of biological molluscicides.
Due to limited number of chemical molluscicides on the market and awareness about their negative impact, end users are rapidly shifting their preference towards eco-friendly molluscicides.
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Key Takeaways from the Molluscicide Market Report:
- The global molluscicide industry valuation is anticipated to reach US$ 126.2 million by 2033.
- Based on source, biological segment is expected to progress at 6.8% CAGR through 2033.
- Based on form, pellet segment is poised to exhibit a CAGR of 6.7%from 2023 to 2033.
- The United States molluscicide market is projected to cross a valuation of US$ 45.6 million by 2033.
- China market is anticipated to top a valuation of US$ 43.7 million by 2033.
- Demand for molluscicides in South Korea is predicted to rise at 6.7% CAGR.
- The United Kingdom market is set to expand at 6.8% CAGR through 2033.
- Molluscicide sales revenue in Japan is predicted to reach US$ 85.7 million by 2033.
“Rising concerns about food insecurity and growing need for improving food protection are creating a conducive environment for the development of the molluscicide industry. To increase their sales and walk with the changing trends, key companies are focusing on developing natural and eco-friendly molluscicides.” – says a lead Future Market Insights (FMI) analyst
Competitive Landscape
Bayer, Lonza, Certis USA L.L.C., Philagro, Zagro, Adama Agricultural Solutions, Agchem Manufacturing Corporation, AMGUARD Environmental Technologies, Neudorff, and Marrone Bio Innovations among others are few of the leading molluscicide manufacturers listed in the report.
These key players are concentrating on introducing new safe and eco-friendly molluscicides to help farmers in managing and controlling the population of mollusks. They are also inclined towards employing tactics such as acquisitions, facilities expansions, mergers, agreements, partnerships, and collaborations to solidify their market positions.
Recent developments:
- In June 2020, a novel ferric phosphate-based molluscicide called Gusto IRON was launched by ADAMA for controlling slug population in the United Kingdom.
- In December 2022,AgriNova New Zealand Ltd. was acquired by ADAMA Ltd. The acquisition will help the company to expand its offerings and solidify its position.
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More Insights Available:
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the global molluscicide industry presenting historical data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study reveals market projections based on source (biological and chemical), form (pellet and liquid/gel), application (agricultural and non-agricultural), and region (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and Middle East and Africa).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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