Increase in use of nanopesticide in pest control and packaging, surge in demand for nanopesticide from the agricultural sector, increase in awareness about plant health, growing importance of plant protection and insect pest control, and growing exports of fresh fruits and vegetables drive the growth of the global nanopesticide market. Closure of manufacturing facilities, disruption in supply chain, and reduced agricultural productivity during the pandemic had a negative impact on the market.
Portland, OR, Nov. 16, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global nanopesticide market generated $0.5 billion in 2021, and is projected to reach $1.6 billion by 2031, growing at a CAGR of 12.5% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.5 billion |
| Market Size in 2031 | $1.6 billion |
| CAGR | 12.5% |
| No. of Pages in Report | 200 |
| Segments Covered | Type, utility, application, and region |
| Drivers | Increase in use of nanopesticide in applications, such as pest control and packaging |
| Surge in demand for nanopesticide from the agricultural sector | |
| Opportunities | Increase in awareness about plant health |
| Growing importance of plant protection and insect pest control | |
| Growing exports of fresh fruits and vegetables | |
| Restrains | High costs associated with nanopesticides |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global nanopesticide market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, including those of nanopesticides, which adversely impacted the growth of the market.
- Because of social alienation, COVID-19 has harmed food and agricultural productivity including nutrition as well as farmer livelihoods.
- However, the market is expected to recoup with eased restrictions and surge in the demand for fruits and vegetables around the world.
The report offers detailed segmentation of the global nanopesticide market based on type, utility, application, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on utility, the industrial crop segment held the dominating market share in 2021, holding more than three-fifths of the global nanopesticide market, and is expected to maintain its leadership status during the forecast period. The food crop segment, on the other hand, is expected to cite the fastest CAGR of 13.1% during the forecast period.
Based on application, the pest control segment held the dominating market share in 2021, holding nearly two-thirds of the global nanopesticide market, and is expected to maintain its leadership status during the forecast period. The packaging segment, on the other hand, is expected to cite the fastest CAGR of 13.2% during the forecast period.
Based on type, the nanoinsecticides segment held the dominating market share in 2021, holding more than two-fifths of the global nanopesticide market, and is expected to maintain its leadership status during the forecast period. The nanoherbicides segment, on the other hand, is expected to cite the fastest CAGR of 13.2% during the forecast period.
Based on region, the market across Asia-Pacific region held the dominating market share in 2021, holding more than two-fifths of the global nanopesticide market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 13.4% during the forecast period. The report also analyses other regions such as LAMEA, Asia-Pacific, and Europe.
The key players analyzed in the global nanopesticide market report include Andermatt Biocontrol, Bayer, BioWorks, Inc., Camson Biotechnologies, Corteva, Marrone Bio Innovations Inc, Migrow Agro Solution, Plantix Crop Care, Stockton Biotechnologies, and Valent BioSciences LLC.
The report analyzes these key players in the global nanopesticide market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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