At 4.4% CAGR, Asia Pacific Mancozeb Market is Projected to be Worth US$ 804.58 Million by 2030, says Business Market Insights
According to Business Market Insights research, the Asia Pacific mancozeb market was valued at US$ 569.10 million in 2022 and is expected to reach US$ 804.58 million by 2030, registering a CAGR of 4.4% from 2022 to 2030. Ongoing developments in crop protection practices and growing demand for fruits & vegetables are among the critical factors attributed to the Asia Pacific mancozeb market expansion.
The ongoing development in crop protection practices represents a significant avenue for growth in the mancozeb market. These advancements are central to the evolution of sustainable and efficient agriculture and provide several key opportunities for the mancozeb market. One of the primary growth opportunities lies in the adoption of Integrated Pest Management (IPM) strategies. IPM is a holistic approach to crop protection that emphasizes the use of preventive measures and multiple control methods to manage pests and diseases. Mancozeb is a versatile fungicide that can be used in IPM programs to control a wide range of fungal diseases. In addition, new technologies, such as precision agriculture and drone spraying, are making it possible to apply crop protection products more efficiently and precisely. This can help reduce the amount of fungicide needed to control fungal diseases while minimizing the environmental impact of crop protection practices. Mancozeb is a versatile fungicide traditionally used on crops such as potatoes, tomatoes, and grapes, but its adoption is expanding to encompass a broader spectrum of agricultural products. The diversification of usage is mainly due to the fungicide's effectiveness in controlling various fungal diseases, making it an appealing choice for growers seeking reliable disease management solutions. Thus, the developments in crop protection practices and increasing application in new crops are offering future growth opportunities for the mancozeb market players.
On the contrary, regulations focused on harmful effects of mancozeb hampers the Asia Pacific mancozeb market.
Based on form, the Asia Pacific mancozeb market is bifurcated into dry and liquid. The dry segment held 71.0% share of Asia Pacific mancozeb market in 2022, amassing US$ 404.30 million. It is projected to garner US$ 575.55 million by 2030 to expand at 4.5% CAGR during 2022-2030.
In terms mode of application, the Asia Pacific mancozeb market is categorized into foliar spray, soil treatment, and seed treatment. The foliar spray segment held 55.5% share of Asia Pacific mancozeb market in 2022, amassing US$ 316.05 million. It is projected to garner US$ 460.65 million by 2030 to expand at 4.8% CAGR during 2022-2030.
Based on crop type, the Asia Pacific mancozeb market is segmented into fruits & vegetables, cereals & pulses, oilseeds & pulses, turf & ornamentals, and others. The fruits & vegetables segment held 38.9% share of Asia Pacific mancozeb market in 2022, amassing US$ 221.56 million. It is projected to garner US$ 324.19 million by 2030 to expand at 4.9% CAGR during 2022-2030.
By country, the Asia Pacific mancozeb market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that India captured 54.0% share of Asia Pacific mancozeb market in 2022. It was assessed at US$ 307.53 million in 2022 and is likely to hit US$ 448.01 million by 2030, exhibiting a CAGR of 4.8% during 2022-2030.
Key players operating in the Asia Pacific mancozeb market are Hebei Enge Biotech Co Ltd, Ningbo Generic Chemical Co Ltd, Natursim Science Co Ltd, UPL Ltd, Coromandel International Ltd, Zhejiang Rayfull Chemicals Co Ltd, Indofil Industries Ltd, Limin Group Co Ltd, Sumitomo Chemical Co Ltd, and Corteva Inc, among others.
In June 2022, Coromandel has launched three insecticides and a fungicide product in the market. The newly launched products include, Ortain Super, Phendal Plus, Canister (insecticide) and Prop-Plus (fungicide).
In June 2021, Coromandel International launched six new products including 1 fungicide: Optra FS, 1 Herbicide: Magnite, and 4 insecticide: Finio, Makeba, Insas, and Officer.
In March 2023, Corteva Agriscience launched the Adavelt active, with recent product registrations in three countries Australia, Canada, and South Korea. Adavelt active is a novel fungicide with a new mode of action that protects against a wide range of diseases that can impact crop yields.
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