Bionematicides Market Growth Opportunities Forecast 2022-28

According to Precision Business Insights (PBI) latest report, the bionematicides market is expected to be worth USD 253.0 million in 2022, growing at 15.0% CAGR from 2022 to 2028. The rapid industrialization that has led to the loss of productive agricultural land has played a vital role in expanding the market for bio nematicides. Growth in the business will also be fueled by crops' high worm infection rates and rising resistance to conventional treatments. Demand for bio nematicides is projected to increase in the upcoming years due to environmental prohibitions against chemical nematicides and yield losses, which will aid in bridging the supply-demand gap.

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Fruits and Vegetable Segment to Dominate the Bionematicides Market:
The fruits and vegetable segment are expected to account for a larger revenue share in the global bionematicides market, with a value share worldwide. It is projected to grow at a 17.2% CAGR between 2022 and 2028. The fruit and vegetable segment currently meets the most significant number of orders. It has high demand in the market due to rising fruit and vegetable consumption and rising demand for tropical and exotic fruits and vegetables, particularly from emerging economies around the world. This trend is anticipated to continue throughout the forecast period.

Asia Pacific Bionematicides Market:
The Asia Pacific market is expected to increase in the global bionematicides market over the forecast period. It is projected to grow at a CAGR of 16.3% in the coming years. The market is assumed to be driven by rapid industrialization, overpopulation, demographic changes, affordability, sustainability, climate change, and environmental concerns. One of the primary sources of income for Asian nations like China, India, and Japan is farming. In order to advance the market for bionematicides, it is also supported by government organizations in the form of loans and subsidies for sustainable farming.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global bionematicides market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In March 2022, BioConsortia, Inc. announced the availability of two new bionematicides for corn and other food crops. The new products are designed to combat nematode pests and boost crop yields.

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The bionematicides market is segmented based on type, form, crop type, mode of application, infestation, and geography.
Based on the type, the market is segmented into the following:
• Microbials
• Biochemical

Based on the form, the market is segmented into the following:
• Dry
• Liquid

Based on the crop type, the market is segmented into the following:
• Cereals & grains
• Oilseeds & pulses
• Fruits & vegetables
• Others

Based on the mode of application, the market is segmented into the following:
• Seed treatment
• Soil treatment
• Foliar sprays
• Others

Based on the infestation, the market is segmented into the following:
• Root knot
• Cyst nematodes
• Lesion nematodes
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the bionematicides market report are Protection AG (Switzerland), Corteva Agriscience (US), BASF SE (Germany), Adama (Israel), FMC Corporation (US), Nufarm (Australia), UPL Limited (India), Isagro Group (Italy), Valent USA (US), Chr. Hansen (Denmark), Certis USA LLC (US), Marrone Bio Innovations (US), American Vanguard Corporation (US), Crop IQ Technology (UK), and Real IPM Kenya (Kenya).

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This release was published on openPR.