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"Global Bionematicides Market was Valued at US$ 180.3 Mn in 2019 and it is Expected to Reach More than US$ 264.02 Mn by 2028, Likely to Grow with the CAGR of 4.3% During the Forecast Period."
Bionematicides are the biopesticides that are used in the treatment of nematode infestation in the crops. Bionematicides are comprised of microorganisms such as bacteria and fungi. Bionematicides are different from nematicides and these are eco-friendly products and do not cause any harm to the nature of the crop and fertility of the soil.
Bionematicides are cost-effective and are derived from renewable sources such as animal or plant extracts. The Bionematicides market is primarily driven by rapid industrialization resulting in declining fertile land availability for agriculture.
Rise In The Awareness About The Use Of Biological Products And Increase In The Nematode Infestation On Agriculture Crops Is Anticipated To Drive The Demand For Bionematicides
Nematodes are known to cause approximately US$ 80 billion in crop damages globally. Furthermore, an increase in the adoption of agriculture biologicals for increasing the crop yield, adoption of newer farming practices, and stringent regulations on organic nematicides are the factors anticipated to fuel the market over the forecast period. While increasing microorganism’s use to produce organic nutrients to enrich soil fertility will drive Bionematicides market size over the forecast timeframe.
In addition, rapid industrialization and excessive use of chemical pesticides are leading to a decrease in arable land, and an increase in the global population demand for quality food products is expected to propel the revenue of the market over the forecast period.
However, the risk of toxic metabolites secreted by the microorganisms, product availability issues, slow mode of action on large pests, and lesser shelf life of the products are expected to hamper the growth of the global market over the forecast period.
The Microbial Bionematicide Is Expected To Dominate The Market During The Forecast Period
The microbial Bionematicides segment is constituted a major share of the market in 2019 and it is projected to grow at a significant CAGR of above xx % during the forecast period.As microbial origin pesticides are composed of naturally occurring fungi or bacteria, and viruses they are mostly preferred for organic and residue-free food production. Further, factors such as the higher advantage of selectivity, affectivity and no adverse effects on humans, plants, and animals these factors are responsible for the rapid adoption of the microbial Bionematicides.
By Crop Type, Corn Segment Is Expected To Witness Highest Growth In The Global Bionematicides Market Across The Globe
The Corn segment is estimated to be the largest application of the Bionematicides market. Corn is projected to grow at the highest rate of more than 4.5% in the Bionematicides market during the forecast period owing to the rising demand to enhance crop yield with disease control from biological methods will boost Bionematicides market size for corn.
The cotton crop was worth more than US$ xx Mn in 2019 and is predicted to exhibit significant growth over the forecast period. Cotton and corn crops require higher soil applications to improve yields. Introducing crop friendly bacteria along with organic fertilizers increase yields over 15% to 20% and soil fertility for a prolonged duration.
The market in North America expected to hold a significant share in Biofertilizers market over the forecast period
North America is anticipated to hold above 30% over the forecast period and is expected to exhibit a considerable growth rate over the forecast period. The U.S., having dominated the regional industry share by collecting worth US$ 34.0 Mn in 2019, is expected to generate considerable revenue over the coming years. The primary attributing factor towards market growth is the escalating usage of bio-pesticides as opposed to chemical pesticides. Additionally, shifting trends towards agricultural biotechnology like microbe-based pest control are expected to boost the Bionematicides industry share.
Furthermore increasing biopesticide acceptance over chemical pesticides. For instance, the Department of Environmental Toxicology (U.S.) lays emphasis on biopesticides as a viable solution to crop protection and this is likely to fuel the bionematicide sales in the region.
The Asia-Pacific Region Is Projected To Register a Highest Growth In The Biocides Market During The Forecast Period
The Asia Pacific accounted for over xx% of global revenue share in 2019 and is expected to be the fastest-growing region with register a CAGR of over4.5 % over the forecast period.
The Rapid industrialization, overpopulation, demographic shifts, affordability, sustainability, climate change, and environmental concerns are major factors attributing to drive sales in the Bionematicides market. The local government bodies in this region are also supporting the farmers by providing subsidies to promote sustainable farming. India, China, and Japan will contribute considerably towards the APAC Bionematicides industry share.
The Bionematicides market is dominated by players such as Syngenta AG, Bayer CropScience AG, Marrone Bio Innovations, Inc., T. Stanes & Company Limited, and Valent BioSciences Corporation. Some of the key players in the global Bionematicides market are BASF SE, Valent BioSciences Corporation, Bayer CropScience AG, Certis USA LLC, Syngenta AG, Monsanto Company, Novozymes, Marrone Bio Innovations, Inc., FMC Corporation, LAM International, Dow AgroScience LLC, and Ecoman Biotech Co. Ltd
Bionematicides Market Key Segments:
Bionematicides Market, By Type
Bionematicides Market, By Crop Type
- Fruits & vegetables
- Leafy vegetables
- Other fruits & vegetables (Including banana, potato, citrus, etc.)
- Others (Including oil crops, cereals, pulses, etc.)
Bionematicides Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America