The global Bactericide market is estimated to register robust growth in 2016- 2023 and is expected to grow at a CAGR of 4.7% during the forecast period. The Bactericide market is segmented on the basis of type, mode of application, crop type, form and geography. The mode of application type is further bifurcated into foliar spray, soil treatment and others. The crop type segment is further segmented into cereals & grains, fruits & vegetables, oilseeds & pulses and other crop types. The cereals and grains, sub segment of crop type was the largest segment in 2015.
The rising need of food security to meet the demand of growing population is the major factor which is imparting huge growth in the global bactericide market. A number of key players such as Bayercrop scienceAG, Basf SE, Adama agricultural solutions ltd., Syngenta AG Nufarm Limited, FMCcorporation, e.i. DuPont de Nemours and company, MG2 Nippon Soda C/o ltd. are investing huge amount for the development of innovative technology and solutions which contribute in the development of new applications of the Bactericide market. On 7 November 2016 FMC Corporation and BASF declare agreement to serve next generation of crop care to the U.S. in-furrow corn market. These companies will deliver unique in-furrow disease and insect protection. The rise in food security is one of the major factors which are creating huge growth in the global bactericide market. The intensity of food security varies widely due to numerous factors such as government laws, population across the region etc. Moreover, generally the process of safeguarding the crop depends on the increasing population as crop production serves the food need of the population. Sub- urban Africa is one of the regions where the need of food security is very high as the fertility rate is also high in that region. One in 10 people is food insecure. This creates a huge need to save the crop from bactericides and other infections to cater there need. Due to such need of food security farmers are shifting their focus towards the bactericide solutions. Thus, food security is one of the major factors which are increasing the growth in the Global Bactericide market. Moreover, there are various factors which are hindering the growth of global Bactericide market. Increasing incidences of environmental toxicology is the major factor which are hampering the growth of the global Bactericide market. Though, there are few factors such as growing demand in emerging regions is creating huge growth potential in the near future in the global Bactericide market.
Geographically, North America, Europe, Asia Pacific and ROW are the major segments of bactericide market. The Europe holds the largest market share and dominates in the global. The growth in Europe region is majorly supported by the usage of bactericides with innovative agricultural techniques and rise in need for security of food in the European countries as the bacterial infestations in crops is rising. Thus, the growing use of bactericides with advanced technology is driving the growth in Europe Bactericide market.