Research Nester has released a report titled “Nanopesticide Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the nanopesticide market in terms of market segmentation by type, by application, by target organism, by cultivation, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The nanopesticide market is segmented by utility into food crop and industrial crop, out of which, food crop segment is anticipated to hold largest market share on account of rising need for production of food crops around the world to mitigate the demand supply gap. The market is also segmented by application into production, protection, harvesting and packaging. Harvesting segment is anticipated to gain significant market share on the back of numerous issues observed in the supply chain process, which is also leading to the growing concern for control of global food loss index (GFLI). The Food and Agricultural Organization of the United Nations (FAO) stated in one of their survey reports that the developing countries have observed losses of around 40% at post-harvest and processing levels, and in industrialized countries, more than 40% losses happened at retail and consumer levels.
The nanopesticide market is anticipated to record a significant CAGR during the forecast period, i.e. 2019-2027. Growing utilization of pesticides globally combined with growing need for production of food crops to meet the targeted indicated 2.1 of the Sustainable Development Goals (SDG) as proposed by the United Nations Development Program (UNDP). In the statistics provided by Food and Agricultural Organization of the United Nations (FAO), utilization of pesticides peaked 4 million tonnes in 2017 as compared to 2 million tonnes in 1990.
Regionally, the nanopesticide market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia-Pacific is expected to hold largest market share on the back of being the largest producer of numerous food crops and cash crops in the region, combined by wide-spread use of pesticides for the purpose of cultivation of agricultural products. Moreover, the region is experiencing higher demand for food grains with the challenge of limited availability of arable land, along with elevating exports, which is estimated to propel the growth of the nanopesticides market during the forecast period.
Growing Exports Of Fresh Fruits And Vegetables
Consumption of food products around the globe have grown manifold. Consumers are shifting their demand for seasoned and unseasoned product availability throughout the year. Producers are observing repetitive challenges to mitigate the demand supply gap and increase their produce. Governments of various economies are increasing their investments on R&D so as to minimize wastage and food loss occurred in the supply chain process. Increasing exports have also raised the focus amongst producers to provide quality packaging and maintain good hygiene of crops, especially in the post-harvesting period. Various economies have observed increasing exports of fresh fruits and vegetables around the globe, which require special care for transportation and supply, thereby contributing significantly towards the growth of the market.
However, concerns for food safety and quality, combined with growing R&D costs, low per capita use of crop protection chemicals in several developing economies and ban in pesticides in certain regions are expected to operate as key restraints to the growth of the nanopesticides market during the forecast period.
This report states that there is only a single market player by the name of Migrow agro products operating in nanopesticides market. It is expected that more number of companies will establish their operations in the near future, considering the benefits provided by nanopesticides to the producers and farmers. Moreover, top companies dominating the market of biopesticides might expand their product portfolio for nanopesticides market in the near future, which includes Marrone Bio Innovations (NASDAQ: MBII), BioWorks Inc., Valent Biosciences LLC, Andermatt Biocontrol AG, Stockton, Bayer AG (ETR: BAYN), Camson Bio Technologies Ltd (BOM: 538858), AMVAC Chemical Corporation, Corteva (NYSE: CTVA), IsAgro (BIT: ISG) and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the zero waste packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.