Nanopesticide Market Expected to Reach $1.6 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Nanopesticide Market," The nanopesticide market was valued at $0.5 billion in 2021, and is estimated to reach $1.6 billion by 2031, growing at a CAGR of 12.5% from 2022 to 2031.

Nanopesticides can be employed as vectors, both directly and indirectly as it inherits some of the fundamental properties, such as permeability, stiffness, crystallinity, biodegradability, and thermal stability, which are advantageous over commonly used synthetic pesticides. Nanopesticides are used to manage a wide range of pests and disease vectors, including mosquitoes, ticks, rats, and mice. In agriculture, nanopesticides are used to manage weeds, insect infestations, and illnesses.

Nanopesticides in the agriculture sector includes fungicides, herbicides, insecticides, rodenticide, and others. They are used in all farming industries, including horticulture, dairy farming, poultry, crop shifting, and commercial planting. Nanopesticides are used by farmers to control weeds, increase agricultural productivity, and preserve agricultural product. These minimize total chemical consumption, harmful residues, and offer overall crop protection. Nanopesticide formulations can improve water solubility, bioavailability, and preserve agrochemicals from environmental degradation, revolutionizing crop pest control against diseases, weeds, and insects. Nanopesticides protect plants and boost leaf coverage. Nanopesticides, comprising of nanoscale active ingredients with broad-spectrum insect repellent, bactericidal, and fungicidal capabilities, has recently gained prominence for tomato disease management.

The growth of the global nanopesticide industry is majorly attributable to its wide use in applications, such as pest control and packaging. Also, surge in use of nanopesticide in food packaging is expected to drive the market growth during the forecast period. There is rising food waste and loss caused during the different stages of the supply chain process. According to the FAO, food wastes amount to approximately $310 Bn in developing economies and $680 Bn in industrialized economies. The statistics describe the increasing concern for food waste. Consumption of fresh foods and vegetables has been increasing around the globe. Agro-economic nations are emphasizing on exporting fresh fruits and vegetables to mitigate the demand gap. This is driving the demand for nanopesticides in the packaging of these fresh foods to lessen the loss in the supply chain and maintain the freshness of products. Nanopesticides are mostly used in food packaging containing nanoparticles that are utilized to impart antimicrobial action and increase barrier qualities, which extend the shelf life and freshness of packaged food.

However, high costs associated with nanopesticides is projected to hinder the expansion of the market. On the contrary, growing exports of fresh fruits and vegetables is expected to offer ample growth opportunities for the nanopesticides market. According to the data from the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal By-Products, China’s fruit imports and exports, both registered noteworthy year-on-year growth in the first half of 2021. The country's fruit exports in the first six months of 2021 stood at a volume of 1.43 million tons and a value of $2.29 billion, corresponding to YOY gains of 5.9% and 15.4%, respectively.

The nanopesticide market is segmented into type, utility, application, and region. On the basis of type, the market is categorized into nanoinsecticides, nanoherbicides, nanofungicides, and others. On the basis of utility, the market is categorized into food crop and industrial crop. On the basis of application, the market is categorized into pest control, packaging, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The nanopesticide market share is analyzed across all significant regions and countries.

The major players operating in the global Nanopesticide market include Andermatt Biocontrol, Bayer, BioWorks, Inc., Camson Biotechnologies, Corteva, Marrone Bio Innovations Inc, Migrow Agro Solution, Plantix Crop Care, Stockton Biotechnologies, and Valent BioSciences LLC.

COVID-19 Analysis:

The COVID-19 pandemic had a negative impact on the food and agriculture industry. Due to social alienation, COVID-19 has harmed food and agricultural productivity including nutrition as well as farmer livelihoods. However, the consumption of fruits & vegetables among the populace increased during the pandemic owing to the health benefits associated with them. Nanopesticides are utilized in packaging of fruits and vegetables in order to maintain the freshness in these perishable food products. These also improve the chemical content of fruits and vegetables, such as beta carotene, naringenin, and chlorogenic acid while also providing a healthy source of fiber, which reduces constipation, decreases cholesterol, regulates blood sugar levels, and aids with weight management. Nanopesticides are also widely used in food packaging containing nanoparticles which are used to impart antimicrobial action, which extend the shelf life and freshness of packaged food. Consequently, the growing consumption of fruits & vegetables along with surge in demand for food packaging is anticipated to propel the nanopesticide market during the pandemic period.

Key findings of the study: 

• By type, the nanoinsecticides segment was the highest revenue contributor to the market in 2021
• By utility, the industrial crop segment was the highest revenue contributor to the market in 2021 growing with a CAGR of 12.2%
• By application, pest control segment dominated the market in 2021 and is estimated to grow with a CAGR of 12.2%.
• By region, Asia-Pacific was the highest revenue contributor to the market in 2021.
• China was the highest revenue contributor in 2021, growing with a CAGR of 14.4%.
• South Korea and Japan are expected to witness considerable CAGRs of 12.7% and 12.4%, respectively, during the forecast period.