At 3.4% CAGR, North America Mancozeb Market is Projected to be Worth US$ 278.63 Million by 2030, says Business Market Insights
According to Business Market Insights research, the North America mancozeb market was valued at US$ 212.46 million in 2022 and is expected to reach US$ 278.63 million by 2030, registering a CAGR of 3.4% from 2022 to 2030. Increasing use of mancozeb for crop protection and yield improvement and growing demand for fruits & vegetables are among the critical factors attributed to the North America mancozeb market expansion.
Pesticides, which are used to control insects and weeds, are indispensable in agricultural practices. According to the article "Agricultural Development, Pesticide Application, and Its Impact on the Environment," there would be a 78% loss in fruit production, a 54% decrease in vegetable production, and a 32% decrease in cereal production. This implies the critical role of pesticides in reducing diseases and increasing crop yields. The United Nations estimates that the global population will increase by 2 billion people in the next 30 years; it will increase from 8 billion in 2022 to 9.7 billion by 2050. The population would peak at ~10.4 billion in the 2100. It has also led to a surge in the agricultural sector due to increasing food demand. With a rise in the global population and a consequent rise in the demand for food, agriculturists across the world are focusing on modifying farming practices to obtain high crop yields from smaller cultivation areas. Thus, crop protection and yield enhancement are the key focus areas of the agricultural sector, which signifies the continuous need for fertilizers and pesticides in farming. Mancozeb enhances crop protection by effectively controlling a wide range of fungal pathogens. This capability provides farmers with a reliable means to safeguard their crops from diseases such as late blight, downy mildew, and rust. With the rise in global food demand, the protection of crops becomes paramount, and mancozeb plays a crucial role in ensuring that crop losses due to fungal infections are minimized. In addition, the use of mancozeb contributes to yield improvement. Preventing or mitigating the damage caused by fungal diseases allows crops to grow more vigorously and produce higher yields. This has a direct positive impact on a farmer's income and food production capacity. Yield improvement is a key factor in addressing the growing global population's demand for food, significantly aiding in the growth of the mancozeb market
On the contrary, regulations focused on harmful effects of mancozeb hampers the North America mancozeb market.
Based on form, the North America mancozeb market is bifurcated into dry and liquid. The dry segment held 74.9% share of North America mancozeb market in 2022, amassing US$ 159.16 million. It is projected to garner US$ 210.26 million by 2030 to expand at 3.5% CAGR during 2022-2030.
In terms mode of application, the North America mancozeb market is categorized into foliar spray, soil treatment, and seed treatment. The foliar spray segment held 56.2% share of North America mancozeb market in 2022, amassing US$ 119.41 million. It is projected to garner US$ 161.81 million by 2030 to expand at 3.9% CAGR during 2022-2030.
Based on crop type, the North America mancozeb market is segmented into fruits & vegetables, cereals & pulses, oilseeds & pulses, turf & ornamentals, and others. The fruits & vegetables segment held 44.1% share of North America mancozeb market in 2022, amassing US$ 93.77 million. It is projected to garner US$ 127.72 million by 2030 to expand at 4.2% CAGR during 2022-2030.
By country, the North America mancozeb market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 80.7% share of North America mancozeb market in 2022. It was assessed at US$ 171.35 million in 2022 and is likely to hit US$ 226.26 million by 2030, exhibiting a CAGR of 3.5% during 2022-2030.
Key players operating in the North America 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, 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.
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