Plant-parasitic nematodes cause financial losses worldwide since they pose a threat to crop quality. Moreover, roughly 12.6% of the top 20 global life-sustaining crops are destroyed owing to nematodes. Additionally, due to rising awareness concerning environmental conservation and increasing concerns about chemical pesticide crop residue, propels the growth of this market.
The raw materials used for manufacturing bionematicides are easily available because of which the cost incurred during production is low. Moreover, as compared to agrochemicals, bionematicides do not pose any environmental threats because of which they serve as a popular choice in crop protection programs. The effectiveness of this product in addition to the low production cost and the environmental benefits accelerate the market growth positively.
Adoption of biologicals, the increasing growth of the biological control seed treatment solutions, and the use of integrated pest management techniques are some of the main driving factors for this market. IPM offers both economic and ecological agronomic solutions that strike a balance between environmental and Bionematicides must adhere to the biosafety regulations because of which production, commercialization, and development of such products can be difficult. Moreover, microbial bionematicide has a relatively low shelf life as compared to chemical pesticides which act as a restraint in the growth of the market.
The global market size for bionematicides accounts for USD 287 Billion in 2020 and it is projected to reach a value of around USD 1,078 billion by 2028. The CAGR is estimated to be around 18% during the forecast period 2020-2028. To provide strategic analysis for the change in market trends this market is segmented based on by type, mode of application and region. Moreover, the Bionematicides market is highly reliant on vertical integration, therefore the end-user applications in this sector and their impacts on the current market share have been accounted for.
Based on the mode of application, the soil treatment mode holds the largest market. Soil treatment supports an adequate supply of nutrients to germinating seeds thereby yielding quality organic crops. It also promotes seed germination and it enables faster plant growth hereafter improving both crop quality and quantity. Additionally, it is seen that the increasing demand for organically grown fruits and vegetables propels the market for bionematicides due to rising cases of crop infestation.
NA is the global leader for bionematicides, due to technological advancement in the agriculture sector followed by Europe which has large agricultural landscapes yet to be capitalised. The APAC market is the fastest-growing segment owing to increasing agricultural activities and government regulations that promote the growth of organic farming methods.
The study period for the report titled, “Global Bionematicides - Market and Technology Forecast to 2028" is from 2018-2028 and the forecast period ranges from 2020-2028. The market is segmented by type, by type, mode of application and region.
The report is aimed at:
- A comprehensive analysis of the drivers, restraints, and challenges and their effect on the global market scenario has been provided in this report.
- Forthcoming advancements in terms of technology and their impact on this market's growth have been discussed.
- The strategies exercised by the key players of this field have been studied methodically in this report.
- Porter’s Five Forces and PESTLE Analysis has been used to provide a strategic outlook of the market.
- The opportunities that this market offers has been provided.
The market is segmented based on by Type, Mode Of Application And Region.
Based on Type
- Foliar Sprays
- Seed Treatment
- Soil Treatment
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
- Rest of Crops
- North America
- Rest of the World (RoW)
- Middle East
- United States
- United Kingdom
- United Arab Emirates
- An In-depth study concerning market trends and insights has been provided in this report which can be of use to industry professionals to study the changing market dynamics.
- This report can be beneficial to new players since the drivers, restraints, and challenges along with their impact on the global market revenue have been provided.
- This report is forecasted up to the year 2028, hence it can be used to construct both near term and long term objectives.
- Existing players looking for means of expansion can use this report to study the new opportunities provided by this market.
- A detailed strategic analysis has been delivered on the key players of this market which can be beneficial to new entrants as well as existing players to develop their strategies.
- The sales team could make use of this report to understand the changing dynamics and their impact on the overall market.
- Bionematicides Manufacturers: Can use this report to understand the global demand for this product and further optimize manufacturing processes according to the same.
- Financial Institutions: Can use this report to study the current market and evaluate investment as well as R&D funding strategies.
- Governments, Associations, and Industrial Bodies: Could make use of this report to understand the technological advancements as well as the opportunities provided by this field.
- Sales Teams: They can use this report to understand the drivers of the market as well as the demographics to hereby generate more product sales.