The global Milbemycin market generated revenue of around USD 65 Billion in 2020 and anticipated to grow at a CAGR of over 4.2% during the forecast period from 2021 to 2027 to reach around USD 78 Billion in 2027.
Milbemycin is defined as the substance through which microorganisms, such as bacteria, viruses, fungi, and protozoans, are killed or slowed by a material that kills or slows their growth.
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Key Trends in Global Milbemycin Market
Increasing Scope Of Nano-Insecticides
Nanotechnology and nanoparticles are being used by toxicologists and horticulturists all over the world to produce modern, environmentally safe insecticides. Pharmaceuticals, medical devices, and chemical companies have all been transformed by nanoparticles. Since a large number of insecticides are non-toxic, most engineers agree that nanotechnology can help make them safer. Furthermore, insecticides can be made more effective with proper research and development, resulting in a substantial reduction in the amount of insecticides sprayed on agricultural fields.
Intensive Farming Techniques
Pesticide demand is increasing as farmers around the world implement intensive farming techniques to increase production per hectare. This type of farming is a form of agricultural intensification and mechanisation that aims to maximise yields from available land by using pesticides and chemical fertilisers in large quantities. These strategies aid in meeting the increasing population's demand for food and preventing food shortages. Pesticide demand gained traction due to intensive farming techniques such as monoculture (This is a kind of intensive farming where one kind of crop over a wide area which depletes soil nutrients and make it reliant on pesticides).
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Global Milbemycin Market by Type Insights
Emulsifiable Concentrate (EC), Water Dispersible Granules (WG), Water Soluble Granules (SG), and Liquid (LI) are some of the major types Milbemycin. Water Soluble Granules has acquired highest share for Milbemycin market in 2020.
Global Milbemycin Market by Regional Insights
During the forecast period, the pesticides market in Asia Pacific is expected to grow at a rapid rate, followed by Latin America. For all forms of pesticides, China, India, and Brazil are the most important growth markets. Asia Pacific is a major rice, wheat, and vegetable producer. As a result, there is a high demand for pesticides in the country, and crop-based pesticides are expected to drive the pesticide market. As farmers concentrate on agriculture, the demand in Europe is expected to grow in the near future, resulting in increased pesticide use for crops.
Global Milbemycin Market Competitive Landscape
Most prominent players in the global Milbemycin market include Jiamusi Xingyu(China), Syngenta(Switzerland), SinoHarvest(USA), Weifang Runfeng(China) and Sino-Agri United(USA). The report covers very detailed profiles of these key players.
Market Segmentation
Global Milbemycin Market by Type, 2015 - 2027
- Emulsifiable Concentrate (EC)
- Water Soluble Granules (SG)
- Water Dispersible Granules (WG)
- Liquid (LI)
- Others
Global Milbemycin Market by Application, 2015 - 2027
- Pesticides
- Chemical Additives
- Others
Global Milbemycin Market by Region, 2015 - 2027
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Milbemycin Market: Key Players
- Syngenta(Switzerland)
- Jiamusi Xingyu(China)
- SinoHarvest(USA)
- Sino-Agri United(USA)
. Weifang Runfeng(China)
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DoC: https://issuu.com/robsonspot/docs/milbemycin_market.docx
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