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Agriculture Community is expected to feed approximately 9.7 billion global population in 2050- Metominostrobin Market 2031

05-05-2021 03:06 AM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

The demand for metominostrobin witnessed slowdown in 2020 owing to the spread of corona virus disease throughout the world whereas with the beginning of 2021, recovery has been observed in the current condition. In 2021, the manufacturers are investing in research and developments to ensure innovation in their offerings and to create significant attraction among global users.

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What are Leading Metominostrobin Manufacturers Doing?

Eminent market players including Bayer CropScience, Sumitomo Corporation, Jiangsu Furun Biochemical Technology, Summit Agro China, Yifan Biotechnology and Alligare Corporation are investing in acquiring latest and highly equipped equipments and tools for use in their production centers to ensure bestest quality products and are setting-up researches institutes for bringing innovation in their offerings.

Further, they are adopting joint ventures, expansions, partnerships, technological advancements, capacity utilization, mergers & acquisitions, collaborations, product innovations, technical expertise, diversification, e-selling etc as their key growthstrategies to be amongst the bestest players and extend their market share globally.

For instance, Bayer Corporation on 10th September, 2019 launched metominostrobin fungicide innovation under the ‘iblon technology’ providing excellent disease control resulting in healthy looking crops that delivers consistent higher yields as compared to currently available market standards.

These fungicides are expected to tailor daily challenges encountered by the farmers like limited natural resources, volatile commodity prices and climatic changes while feeding a growing world population with high quality cereals. Field trials have shown excellent efficacy against major leaf diseases such as leaf blotch, net blotch, yellow rust and brown rust.

The outstanding disease control is resulting in an extended period of green leaf retention, settingthe crop up for maximum yield potential. Such innovations are resulting in making Bayer CropScience a world class leader in this market.

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In addition to that, Evonik Corporation, a leading manufacturer of DL- methionine production has announced that it is going to cluster its MetAMINO production at three international hubsincluding Americas, Europe and Asia to maximize the economies of scale and utilize robust processes. These world scale MetAMINO plants operate along cost leading, best-in-class technology lines and offer opportunities for further expansion.

These are also ready for cost efficient modular debottlenecking in the future. Evonik has further announced that it is going to close the smallest of its MetAMINO plant with a capacity of 65000 tons per year, located in Wesseling, Germany by the end of the first quarter, 2021 and is going to invest about Euro 25 million into upgrading its world-scale plant for metominostrobin intermediates in Wesseling to safeguard long term supply to the Antwerp site and to strengthen its European MetAMINO. This is expected to lead to a better cost position through improved utilization of capacity with economies of scale and an enhanced ability to adapt to any market condition.

In a research, the bio-efficacy of Metominostrobin 20SC, a new generation fungicide, was investigated by the author of the paper affiliated with Rice Research Station, Chinsurah in West Bengal, India. The investigation was mainly about the fungicide’s performance in eliminating Sheath Blight disease of rice. With just two sprays, the fungicide was reported to considerably improve grain yield and also gain effective control of the rice disease. The investigation was performed versus a comparative fungicide. Tricyclazole and hexaconazole were used alongside the new fungicide as check fungicide options currently recommended.

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 demand for Metominostrobin.

Metominostrobin Market Outlook: History and Current Scenario

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 2021, 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.

Demand for Increased Crop Production to Encourage Utilization

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.

Rising Global Adoption to Boost Metominostrobin Market

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.

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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.

Steadily Growing Rice Consumption to Spur the Demand

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 of 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.

Development of Resistant Varieties to Hamper Market Growth

Rice blast caused by Magnaporthe oryzaeis 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.

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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.

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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