Molluscicides 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.
Molluscicides are chemical substances or biocides developed specifically for destroying mollusks.
Growing acceptance of modern farming is adding fuel to the growth of molluscicides market. Owing to improve the efficiency of molluscicides, major players are investing in research and development and introducing bio molluscicides which have opened doors for the growth of global molluscicides market. However, stringent regulations on the use of molluscicides may hamper the growth of molluscicides market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 3.9% of molluscicides market during the forecast period 2017-2023.
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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.)
Bio based molluscicides are expected to offer huge growth opportunity in North America and Europe.
Asia Pacific is witnessed to be the emerging market for molluscicides.
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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.
Asia Pacific is observed to be the emerging market for molluscicides. India and Australia are the major contributors to the growth of molluscicides market in this region. For rest of the world, South America is projected to witness high growth owing to increasing demand for crops in this region.