Molluscicides market to reach $695.8mn by 2021

The report “Molluscicides Market - Global Forecast to 2021”shows that the molluscicides market is estimated to be valued at USD 548.0 Million in 2015. It is projected to grow at a CAGR of 4.1% from 2016 to 2021, to reach 695.8 Million by 2021.

Depending upon the source, the molluscicides market is led by chemicals, followed by biologicals. Chemicals are extensively used in the manufacturing of molluscicides which are economically and widely available in the market. Harmful chemicals are used to kill molluscs such as snails and slugs that destroy crops by feeding on a variety of plants including flowers, fruits, and leaves. High usage of harmful chemicals has shown drastic impact on non-target species and ecosystem by increasing environmental footprint. The growth is driven by growing customer attention toward increasing the crop value of fruits, vegetables, ornamentals, & other field and horticultural crops.

Among the types of molluscicides, such as metaldehyde, methiocarb, ferrous phosphate, and others, metaldehyde accounted for the largest market share followed by methiocarb in 2015. Metaldehyde is widely used in the molluscicide products since it is easily available and reasonable at cost.

The geographical limitation on molluscicide usage is one of the restraints for the molluscicides market. Also the regulatory restrictions imposed on the use of the molluscicide products are further hindering the growth of the molluscicides market.

North America accounted for the largest market share for molluscicides, the U.S. being the fastest growing in the region from 2016 to 2021. Chemical molluscicides are among the widely used in North America due to increased usage of metaldehyde and methiocarb for the production of molluscicides in this region.

The major key players include Lonza Group AG (Switzerland), Bayer CropScience AG (Germany), BASF SE (Germany), Adama Agricultural Solutions Ltd (Israel), Marrone Bio Innovations Inc. (U.S.), and De Sangosse (France).