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Bionematicides Market Global Strategic Analysis 2019 to 2024 | BASF, Dow AgroSciences, Bayer CropScience, Syngenta AG, LAM International, Monsanto
Bionematicides Market
Global bionematicides market is witnessing heavy demand due to rapid industrialization resulting in the depletion of fertile agricultural land. High level of crop infestation by nematodes in agricultural produce is boosting demand for eco-friendly bionematicides as it enhances the quantity and quality of crops. Also, strict government regulations against the use of chemical nematicides will further surge bionematicides industry growth.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• BASF
• Dow AgroSciences
• Monsanto Company
• Bayer CropScience
• Syngenta AG
• LAM International
• Marrone Bio Innovations
Diminished fertile farming land availability due to rapid industrialization has driven bionematicides market size 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.
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.
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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 size 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.
Based on the crops, bionematicides market is mainly segmented into soybean, corn, cotton, and fruits & vegetables. Corn industry will grow at an annual growth rate of more than 4.5% up to 2024, owing to the growing demand of bionematicides to improve crop productivity and reduce plant diseases. The shifting trends towards the consumption of bio-based and organic fruits & vegetables will also favorably impact bionematicides market value.
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Market players are expected to invest heavily in the development activities over the coming years, and will adopt important growth strategies such as acquisitions and collaborations. Key industry participants in bionematicides market are Monsanto Company, Dow AgroSciences LLC., BASF SE, Bayer CropScience AG, and Syngenta AG. Other prominent market players include Marrone Bio Innovations, Inc., Valent BioSciences Corporation, Ecoman Biotech Co., Ltd., Certis USA LLC., and LAM International.
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