What Is The Scope Of The Global Bionematicides Market?
Bionematicides are biological products derived from microorganisms such as fungi and bacteria and act as bio-controlling agents against plant-parasitic nematodes. These microorganisms can capture, parasitize, disorient, and even paralyze nematodes at different stages of their development, providing a natural and environmentally friendly means of nematode control.
Bionematicides Global Market Report 2024 provides data on the global bionematicides market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Bionematicides market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Forecasted Market Size And Growth Rates For Global Bionematicides?
The bionematicides market has seen significant growth, increasing from $0.41 billion in 2023 to an expected $0.47 billion in 2024 at a CAGR of 14.4%. The market's expansion has been driven by a shift towards biological solutions due to environmental concerns over chemical pesticides, advancements in microbial technology, regulatory pressures, and growing consumer demand for organic produce. Projections indicate the market will reach $0.81 billion by 2028 at a CAGR of 14.5%, fueled by sustainable farming practices, expansion in emerging markets, and heightened focus on soil health. Key trends include innovations in bio-based formulations, biotechnology integration, and sustainable agricultural methods.
What Factors Are Driving Growth In The Bionematicides Market?
The increasing adoption of greenhouse farming is anticipated to drive the growth of the bionematicides market in the coming years. Greenhouse farming, which involves cultivating crops in structures covered by transparent materials, is rising due to its benefits in enhancing crop yields and ensuring year-round production regardless of external climate conditions. Bionematicides provide a sustainable, environmentally friendly alternative to chemical nematicides for managing plant-parasitic nematodes (PPNs) in such settings. For example, in October 2023, Agriculture and Agri-Food Canada reported 934 commercial greenhouse vegetable operations in Canada, yielding 752,685 metric tons of vegetables in 2022, marking a 5% increase in operations and a 7% rise in production from 2021. Thus, the growing adoption of greenhouse farming is expected to propel the bionematicides market forward.
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What Are The Main Segments Of The Global Bionematicides Market?
The bionematicides market covered in this report is segmented –
1) By Type: Microbials, Biochemical
2) By Form: Dry Bionematicides, Liquid Bionematicides
3) By Crop: Cotton, Corn, Soybean, Fruits And Vegetables, Other Crops
4) By Application: Foliar Spray, Soil Treatment, Seed Treatment, Others Applications
What Emerging Trends Are Influencing The Growth Of The Bionematicides Market?
Companies in the bionematicides market are developing advanced products, such as plant-parasitic nematicides, to enhance customer service with innovative features. A plant-parasitic nematicide is a type of pesticide designed to target and control plant-parasitic nematodes, microscopic roundworms that harm crops. For instance, in September 2023, Corteva Inc., a US-based agricultural chemical company, launched Reklemel Active, a new nematicide designed to protect a range of food and row crops from damage caused by plant-parasitic nematodes without disrupting beneficial soil organisms. This product is among the first new active ingredients registered under the EPA's updated policy, which includes Endangered Species Act assessments in the pesticide registration process.
What Is The Largest Region In The Bionematicides Market?
North America was the largest region in the bionematicides market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bionematicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
