Bionematicides Market to Rear Excessive Growth During 2024
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Market Research has published a new report titled “Bionematicides
Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2015 - 2023.” According to the report, the global
bionematicides market was valued at US$ 140.5 Mn in 2014 and is
likely to reach US$ 203.5 Mn in 2023, expanding at a CAGR of 4.2%
between 2015 and 2023.Bionematicides are used to prevent or treat
crop infestation by nematodes.Bionematicides generally comprises
bacterial or fungal spores and inert material. Spores included in the
bionematicide germinate and paralyze the organism after coming in
contact with it. It is available in liquid and powder form. The
advantages of bionematicides include no resistance development, no
residues, and no resurgence.
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Report Overview @
High
level of crop infestation by nematodes is expected to drive growth of
the bionematicides market globally. Nematodes infect almost all types
of crops across the globe that leads to loss of yield. Optimum pest
and disease management would be essential to increase resource
efficiency and ensure food security. Additionally, stringent
environmental regulations against chemical/traditional nematicides
are anticipated to propel the bionematicides market further. However,
the efficacy and activity of bionematicides is low and can be
affected by various environmental and process factors such as the
time of administration. This fact is expected to act as a restraining
factor for growth of the bionematicides market. Emerging organic
agriculture industry across the globe is projected to be an important
opportunity for market players during the forecast period.
In
terms of volume, fruits & vegetables held a significant share of
the global bionematicides market in 2014. The segment accounted for
more than 25% share of the market in 2014. It is anticipated to
maintain its share by growing at the fastest rate in the near future.
Corn is likely to be the second fastest growing segment in the global
bionematicides market during the forecast period. Cotton and other
crop segments are estimated to grow at a moderate to sluggish rate in
the next few years. Others application segment includes oil crops,
cereals, pulses, etc.
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In
terms of volume, North America dominated the global bionematicides
market with more than 30% share in 2014. North America was followed
by Europe and Asia Pacific in terms of volume. Latin America followed
Asia Pacific in terms of demand with a significant market share;
however, it is expected to grow at a moderate rate during the
forecast period. Demand for bionematicides in the Middle East &
Africa is estimated to increase at the lowest rate in the next few
years.The global bionematicides market is moderately fragmented in
nature and the top five players constituted more than 55% share in
2014. Key players in the bionematicides market include Bayer
CropScience AG, BASF SE, Monsanto Company, Syngenta AG, Certis USA
L.L.C, Dow AgroSciences LLC, FMC Corporation, Marrone Bio
Innovations, Inc., and Valent BioSciences Corporation.
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