07-27-2018 04:01 PM CET - Business, Economy, Finances, Banking & Insurance

Metominostrobin Market Is Likely to Register Double Digit CAGR During2018-2027

Press release from: Fact.MR
PR Agency: Fact.MR

The global metominostrobin market report by Fact.MR is a complete market research analysis. Study of past, present, and future trends of the industry offers a comprehensive outlook of the growth of the global metominostrobin market during the forecast period between 2018 and 2027.

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Amidst the challenge of increased productivity, global agricultural sector is seeking novel and effective pesticides to protect the crop and increase the yield. Population growth, changing tastes, and technology advances in the agricultural sector have significantly contributed to the management of increased productivity pressure. And these factors, in turn, hold significant influence over the growth of the global metominostrobin market.

Developed since 1996, Metominostrobin is classified under the most common fungicide group called strobilurins. Strobilurins are, in turn, classified under QoI or quinone outside inhibitor according to their mode of action. Metominostrobin is a broad-spectrum, systemic, preventive, and curative fungicide applied to control the fungal diseases in rice, wheat, soya bean, cotton, kidney beans, and corn. The first commercial metominostrobin was made available in market by Shionogi in 1999. Primarily designed for rice crop, this fungicide is under study for its utilization in other crops as well.

In 2014, Sumitomo Agro International, a subsidiary of Sumitomo Corporation acquired Bayer Crop Science Japan’s metominostrobin. The acquisition allowed Sumitomo to distribute and market the fungicide, however, the sales and development of the metominostrobin were retained by Bayer Crop Science. In 2017, both the organizations have agreed to initiate joint efforts to develop new fungicides to control soya bean disease in Brazil.

As of 2018, key stakeholders in the global metominostrobin market include Summit Agro China, Sumitomo Corporation, Bayer Crop Science, Shionogi, Syngenta, and Jiangsu Furun Biochemical Technology among others.

The agriculture community is expected to feed approximately 9.7 billion global population in 2050. To accommodate this demand, a two-fold rise in the cereal crop production is expected from farmer’s community. Due to this, increased productivity has become an important challenge. With the aim of higher yield production, the community has actively adopted modern farming methods including use of chemicals such as pesticides and fungicides. Following this trend, the market for metominostrobin is likely to witness persistent growth in future.

Recently, Sumitomo’s metominostrobin has received approval from the National Health Surveillance Agency (Anvisa) in Brazil, the second largest soya bean producing country. The approval covers foliar application of the fungicide on six crops including corn, soya bean, rice, wheat, cotton, and kidney beans. Argentina, world’s leading soya bean producer, has already received a registration approval for metominostrobin as a Crop Protection product. Along with Argentina and other Latin American countries including Columbia, Peru, Eucador, and Bolivia are leading soya bean producers across the globe have also received the approval. Asian Fruit and cereal producers such as Vietnam, Philippines, Indonesia, Malaysia and other important rice cultivators including India, Pakistan and Shri Lanka have a significant market presence of metominostrobin.

Over 60% of the world population relies on rice that serves as a staple food for major world communities. Out of total world rice grain production, approximately 90% is produced as well as consumed in Asia, helmed by India. According to Foreign Agricultural services, USDA, in the month if April 2018, higher rice production was reported in Asian countries such as Pakistan, Philippines, Shri Lanka, and other world countries such as Brazil, Columbia, and Burma. Several studies have shown effective fungal disease control in rice with the use of metominostrobin as compared to other fungicides available in the market. As it provides effective disease control and gives higher grain yield, metomionostrobin is highly preferred in paddy fields.

Rice blast caused by Magnaporthe oryzae is the most important rice disease destroying almost every plant part such as leaves, stems, peduncles, seeds, panicles, and also roots. Although chemical control assists in management of such fungal diseases, the rice crop remains vulnerable to the disease, due to pathogen’s ability to rapidly adapt and alter genetic composition for survival. Development of resistant strain or hybrid combinations is effective and economical for disease management. Owing to which, several R&D efforts are underway to develop resistant strains. As these strains are intrinsically resistant to fungal pathogens, if successfully developed, demand for fungicides including metominostrobin may decline in future.

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Above discussed market scenarios are thoroughly discussed in the report making it the most credible source for business professionals to understand the outlook of the global metominostrobin market.

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