Bionematicides Market Projected to Witness Vigorous Expansion by 2024 | Dow AgroSciences, FMC Corporation, Novozymes, Monsanto Company, Syngenta, Certis USA

Bionematicides Market is projected to touch USD 209.1 million by 2024. Diminished fertile farming land availability due to rapid industrialization has driven bionematicides market 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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Bionematicides market is gaining traction as it finds extensive usage in crop production, which includes soybeans, corn, cotton, fruits, leafy vegetables, pepper, tomato, etc. Among these, cotton and corn require higher soil fertilization to improve yield. Bionematicides market was valued over USD 800,000 in 2015 due to the increasing product application for growing cotton. As per estimates, bionematicides market size from the corn crop is projected to attain highest growth of 4.5% over 2016-2024, subject to the increase in biological methods to control crop disease. Fruits & vegetables crop segment collected a revenue worth USD 41 million in 2015 and is expected to escalate the demand for bionematicides market. Bionematicides market for soybean is anticipated to exceed USD 14.5 million over 2016-2024. As per a report by Global Market Insights, Inc., the global bionematicides industry is estimated to record a CAGR of 4% over the period of 2016-2024.

Companies Profiled based on Business Overview, Financial Data, Product Landscape, Strategic Outlook & SWOT Analysis:
• Beijing Ecoman Biotech Co., Ltd.
• Dow AgroSciences
• FMC Corporation
• Marrone Bio Innovations
• Novozymes
• Monsanto Company
• Syngenta
• Certis USA
• Bayer Crop Science
• Valent BioSciences
• BASF

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.

The trade of agricultural commodities is expected to witness a major upswing with rising food demand. The bionematicides industry is expected to help counter the demand-supply gap over the coming years by boosting the crop production. The import of cereals is likely to witness an upsurge of more than three times to reach 300 million tons by 2050, particularly in the regions of Latin America and Sub Saharan Africa. Moreover, the soaring agricultural sector has been an essential factor that has led to a successful economic transformation in the European countries and the USA. The trend is also emerging in many Asian countries which include India, Taiwan, Republic of Korea, Vietnam, and China.

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 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. As a result, two biocontrol products are presented for nematode control on cotton, namely Linnaeus and Gossypium hirsutum.

Key insights from the report include:

• Global bionematicides market may hit USD 209.1 million by 2024, with projected growth more than 4%.

• In 2015, bionematicides market for cotton crop generated revenue more than USD 800 thousand. Nematodes leads to over USD 80 billion crop yield losses across the globe, including cotton. Booming bio based fertilizer applications and farmer’s preference for sustainable farming to prevent lance nematodes, sting and root knot in crops will propel industry growth.

• In 2015, 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.

• Bionematicides market for soybean should exceed USD 14.5 million over the forecast timeframe.

• In 2015, 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. For instance, the Department of Environmental Toxicology (U.S.) puts emphasis on bio pesticides for crop protection.

Asia Pacific is a prominent region which exhibits concerns over the rising population and rapid industrialization. Such factors fuel the requirement of higher crop yielding capacity in the region. India, Japan, and China are the key agro-based countries where farming is the basic occupation for sustenance. Asia Pacific bionematicides market collected a revenue of USD 23 million in 2015 and will generate significant revenue with a CAGR of more than 4% over the period of 2016 to 2024. Many prominent governmental organizations are supporting the industry growth by promoting sustainable farming in terms of favorable loans and subsidies, which will stimulate bionematicides industry size considerably over the years ahead.

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The top five players of this industry accounted for more than 50% of the global volume of 2015. These companies have been actively participating in research & development activities to develop more sustainable products for agriculture. Key participants in bionematicides market are Beijing Ecoman Biotech Co., Ltd., Dow AgroSciences, FMC Corporation, Marrone Bio Innovations, Novozymes, Monsanto Company, Syngenta, Certis USA, Bayer Crop Science, Valent BioSciences, BASF.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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