Nanopesticide Market projected to reach USD 1.5 Billion by 2030, growing at a CAGR of 12.5% during the forecast period of 2023-2030 – Professed by MarketDigits in its recent study

The Global Nanopesticide Market was valued USD 0.6 Billion in 2022 and projected to reach USD 1.5 Billion by 2030, growing at a CAGR of 12.5% during the forecast period of 2023-2030

Richmond, Nov. 30, 2023 (GLOBE NEWSWIRE) — According to a research report “Nanopesticide Market, by Type (Nanoinsecticides, Nanoherbicides, Nanofungicides, Others), Utility (Food Crop, Industrial Crop), Application (Pest Control, Packaging, Others), and Region.

Global Nanopesticide Market Report Scope:

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TOC Covers in Depth & Breath on Nanopesticide Market
177 – Market Data Tables
69 – List of Figures
231 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.

Market Overview

Nanopesticides are plant protection products where nanotechnology is employed to enhance the efficacy or reduce the environmental footprint of a pesticide active ingredient. Nanopesticide, categorized as fungicides, insecticides, herbicides, and other microencapsulated pesticides, utilize nanotechnology for plant protection and insect pest control. These advanced formulations, leveraging nanotechnology, enable superior penetration into the insect body. By enhancing water solubility, bioavailability, and safeguarding agrochemicals from environmental degradation, nanopesticide formulations are transforming the management of weeds, pathogens, and insects in crops. The anticipated growth in nanopesticide utilization for applications like pest control and packaging is expected to drive market expansion in the forecast period. Furthermore, the increasing demand for nanopesticides in the agricultural sector is set to propel market growth. However, the high costs associated with nanopesticides may act as a hindrance to the global nanopesticide industry’s growth. Conversely, the escalating exports of fresh fruits and vegetables present a promising opportunity, creating a lucrative landscape for the global nanopesticide market.

Major Vendors in the Global Nanopesticide Market:

• Camson Biotechnologies
• Migrow Agro Solution
• Plantix Crop Care
• Bayer AG
• Stockton Biotechnologies
• BioWorks, Inc.
• Corteva
• ANDERMATT BIOCONTROL AG
• Marrone Bio Innovations

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Increasing Adoption for Pest Control Applications

A key driver for the Global Nanopesticide Market is the rising adoption of nanopesticides for pest control applications. Nanotechnology enables the creation of pest control formulations with enhanced efficacy, providing more effective solutions for managing insect pests. The unique properties of nanopesticides, such as improved penetration into insect bodies, contribute to their superior performance in pest control compared to traditional pesticides. As the global agricultural sector faces escalating challenges from evolving pest resistance and the need for sustainable pest management practices, nanopesticides offer a promising solution. The increased acceptance of nanopesticides for pest control applications is driving market growth, as farmers seek alternatives that are not only effective but also environmentally friendly.

Market Dynamics

Drivers:

• Advanced formulations enhancing agricultural efficiency
• Increasing adoption for pest control applications
• Growing demand in the agricultural sector

Opportunities:

• Growing exports of fresh fruits and vegetables
• Integration with precision agriculture technologies
• Diversification of application in non-agricultural sectors

Integration with Precision Agriculture Technologies

The significant market opportunity for the global nanopesticide market is the integration with precision agriculture technologies. Nanopesticides, with their precision and targeted delivery mechanisms, align seamlessly with the principles of precision agriculture. The use of nanotechnology in pest control enables farmers to apply pesticides with a high degree of accuracy, minimizing overuse and reducing the environmental footprint. Integrating nanopesticides into precision agriculture systems enhances the overall efficiency of farming practices, optimizing resource utilization and improving crop yield. The synergy between nanopesticides and precision agriculture presents an opportunity for the market to position itself as a key player in the ongoing technological transformation of the agriculture sector, catering to the increasing demand for smart and sustainable farming practices.

The market for Nanopesticide is dominated by North America.

In 2022, Asia Pacific is poised to take the lead in the nanopesticide market, fueled by the region’s expansive agricultural sector and increasing awareness of sustainable farming practices. As countries in the Asia-Pacific region confront the challenges of population growth and food security, nanopesticides have emerged as a key technological solution for efficient pest control while minimizing environmental impact. The market benefits from significant research and development activities, fostering innovation in nanotechnology applications for agriculture. With a focus on enhancing crop yield and ensuring food safety, the Asia-Pacific Nanopesticide Market is witnessing heightened adoption in major agricultural economies. The region’s diverse climate conditions and crop varieties contribute to the versatility of nanopesticides, positioning them as a valuable asset in addressing pest management challenges and supporting the evolution towards sustainable agricultural practices in the Asia-Pacific region.

North America emerging as the fastest-growing region after the dominant Asia Pacific.  A growing emphasis on sustainable agriculture and the adoption of advanced technologies. The region is witnessing increased traction in the application of nanopesticides, driven by the need for efficient pest control solutions with minimal environmental impact. With a strong focus on precision agriculture and compliance with stringent environmental regulations.

The Nanoinsecticides segment is anticipated to hold the largest market share during the forecast period

Based on type market is segmented into nanoinsecticides, nanoherbicides, nanofungicides and others. In 2022, the nanoinsecticides segment emerged as the dominant force in the global nanopesticide market concerning revenue. Nanoinsecticides play a transformative role in agriculture by enhancing water solubility, bioavailability, and safeguarding agrochemicals from environmental degradation. This revolutionizes the management of agricultural challenges related to diseases, weeds, and insects. Operating at the nanometer scale, nanoinsecticides typically manifest as nanoparticles containing macro and micronutrients, administered to crops in a controlled manner. Targeting insects like ants and wasps, these compounds can be applied through spraying or direct plant application, as well as on exterior surfaces like fences, siding, shutters, and eaves. The escalating demand for nanoinsecticides is anticipated to propel the nanopesticide market during the forecast period.

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