Albany, NY -- (SBWIRE) -- 11/14/2017 -- A new market research report has been recently published by Transparency Market Research, a U.S.-based market research and intelligence firm. The research report provides an in-depth analysis of the global spirodiclofen market for fruits and other crops. It also provides the past and current performance of the market, along with the existing trends and growth prospects. The research report is titled "Spirodiclofen Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020".According to the research report, the global spirodiclofen market stood at US$119.9 million in 2013 and is projected to touch US$172.1 million by the end of 2020, growing significantly at a 6% CAGR between 2014 and 2020.
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Spirodiclofen helps keep crops healthy and away from diseases, which increases the productivity. The demand for spirodiclofen is expected to rise in the forecast period, owing to the increasing production of walnuts, almonds, tangerines, etc. Moreover, the increased production of tomato to cope with rising food demand is expected to propel the demand for spirodiclofen through the forecast period.
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The research report has segmented the global spirodiclofen market on the basis of crop type into fruits and other crops (such as ornamental plants and tomato). In 2013, the fruit segment dominated the global spirodiclofen market. Spirodiclofen is commonly used in numeorus fruit crops such as almond, pear, avocado, apple, lime, grapes, and lemon. In 2013, almond plantations held more than 50% of the spirodiclofen market on the basis of demand. The research report states that the spirodiclofen market is quite expansive and has excellent growth prospects due to its impending usage in many other types of crops, including decorative plants and fruiting vegetable crops, in the forecast period.
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The research report has geographically segmented the global spirodiclofen market in four regions: Asia Pacific, Europe, North America, and Rest of the World. In 2013, Europe dominated the global spirodiclofen market, accounting for 25% of the market. The dominance of Europe can be attributed to the tremendous use of chemicals in crops such as almonds and walnuts. Asia Pacific held the second position in the same year. In Latin America and North America, spirodiclofen is used as a 240 SC spray formulation named 'Envidor' and produced by Bayer CropScience. As per the research report, Asia Pacific is expected to witness a high rate of development in the global spirodiclofen market through the forecast period.
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Furthermore, the research report has provided a detailed analysis of the prominent companies operating in the global spirodiclofen market. The two leading companies mentioned in the research report are Hangzhou Tianlong Biotechnology Co. Ltd. and Bayer CropScience.