Mancozeb Market is expected to reach US$ 1,569.57 million by 2030

Asia Pacific Dominated Mancozeb Market in 2022

According to our latest market study on “Mancozeb Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Form, Mode of Application, and Crop Type” the global mancozeb market size was valued at US$ 1,148.81 million in 2022 and is projected to reach US$ 1,569.57 million by 2030; it is expected to record a CAGR of 4.0% from 2022 to 2030. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

In 2022, Asia Pacific dominated the mancozeb market. The mancozeb market in Asia Pacific is prominent due to growing awareness about crop protection chemicals among farmers, government subsidies, increasing population, and rising food demand. Surging demand for excellent agricultural products and the increasing need for high productivity and yield are expected to boost the use of mancozeb in Asia Pacific, especially in China, Japan, and India. With the increasing agriculture sector, these Asia Pacific countries have a high product consumption rate. According to the Asian Development Bank, rising incomes and urbanization are transforming food consumption. Policies introduced by many international, multilateral, and bilateral organizations on regulating pesticide distribution and promoting integrated pest management (IPM) have supported the efforts of governments in the region. The development of the Food and Agriculture Organization's (FAO's) International Code of Conduct on the distribution and use of pesticides has dramatically helped with the process of pest management.

Global Mancozeb Market Breakdown – by Region

China is one of the largest markets for mancozeb. According to the World Bank, China's economy has rapidly grown in recent years and is now among the second-largest economies in the world. China is the largest country with a huge population base and limited cultivated area per capita. According to the Food and Agriculture Organization of the United Nations (Fao.org), China produces one-fourth of the world's grain, with only 8% of the planet's cultivable land. China has 545,961 sq. km. of irrigated land. Therefore, it is imperative to produce enough food to meet the demand of the rising population in the country. The expansion of agriculture and horticulture sectors across the country, owing to population growth, is expected to drive the mancozeb market during the forecast period. India is a developing economy and has established a strong foothold in the agricultural industry. India's diverse climate ensures the availability of varieties of fresh fruits and vegetables. Mancozeb is used in India for various crop production such as potato, grapes, groundnut, maize, wheat, and paddy. Thus, the rising demand for fungicides is positively favoring the mancozeb market in India.

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 are a few of the major players operating in the global mancozeb market. Many market players are focused on developing high-quality, innovative product offerings to fulfill the customer’s requirements.

Impact of COVID-19 Pandemic on Global Mancozeb Market

In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic disrupted the supply chain of key raw materials and hampered the growth of the mancozeb market. The effect of the pandemic on the agriculture industry reduced the demand for mancozeb from these industries across the globe.

Various economies have started reviving their operations. As a result, the demand for mancozeb has started increasing. The rising use of mancozeb in crop protection is expected to offer opportunities for the global mancozeb market during the forecast period.

The report includes the segmentation of the global mancozeb market as follows:

The global mancozeb market, by form, is bifurcated into dry and liquid. By mode of application, the market is segregated into foliar spray, soil treatment, and seed treatment. By crop type, the market is segmented into fruits & vegetables, cereals & grains, oilseeds & pulses, turf & ornamentals, and others. By geography, the global mancozeb market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The global mancozeb market in North America is further segmented into the US, Canada, and Mexico. The global mancozeb market in Europe is sub-segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The global mancozeb market in Asia Pacific is further categorized into Australia, India, Japan, China, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The global mancozeb market in South & Central America is further segmented on the basis of Brazil, Argentina, and the Rest of South & Central America.

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com