Global Market Insights, Inc. provides a detailed overview of Bionematicides Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.
Diminished fertile farming land availability due to rapid industrialization has driven bionematicides market size significantly. Furthermore, crops are highly infested by nematodes owing to propel industry growth by 2024. Strict environmental legislations favoring bio based and organic fertilizers over chemical will further complement growth. These bio fertilizers owing to its ability to improve yield laterally with being ecofriendly are appropriate for application.
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- Dow AgroSciences
- Monsanto Company
- Bayer CropScience
- Syngenta AG
- LAM International
- Marrone Bio Innovations
By 2050, global population might reach 9 billion, which will increase food demand. Consequently, this will increase yielding fertilizers, seed & crop management demand to increase crop yield. In addition, rising consumer awareness and demand for food produced from organic or bio based fertilizers will boost bionematicides market share over the forecast timeframe. Also, agricultural trade is forecast to inflate in coming years, resulting in business growth.
Slow product action on large pests along with little shell life may hinder bionematicide adoption. In addition, inadequate product variety for several crop may negatively impact bionematicides market size by 2024. Nevertheless, enduring R&D towards biotic nematodes control is likely to boost the market for bioneaticides. Arkansas Fungus, Pochonia chlamydospora and Paecilomyces lilacinus are recognized as parasites of the nematodes egg stage.
Rapid industrialization, demographic shifts, overpopulation, affordability, sustainability, environmental concerns and climate change are vital factors propelling bionematicides market. Furthermore, farming is one amongst the predominant economic contributor of Asian countries and is also reinforced by the government organization in the form loan and subsidies for promoting sustainable farming.
Fruits & vegetable crop was valued at over USD 41 million. Escalating demand organic and bio based fruits & vegetables demand globally is offering a positive bionematicides market outlook.
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U.S. bionematicides market was dominant regional industry and accounted more than 30% of global volume. The regional growth was mainly propelled increasing bio pesticides preference over chemicals.
Major industry participants are BASF SE, Dow AgroSciences, Monsanto Company, Bayer CropScience, Syngenta AG, LAM International and Marrone Bio Innovations.
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