Bionematicides Market to Reach $2.11 Billion by 2030 - Exclusive Report by Meticulous Research®

According to a new market research report titled 'Bionematicides Market by Type (Microbial {Bacillus, Paecilomyces Lilacinus}, Biochemical), Form (Liquid, Dry), Nematode Type (Root-knot, Cyst, Lesion Nematodes), Mode of Application (Seed Treatment, Fumigation), Crop Type -Global Forecast to 2030,' published by Meticulous Research®, the bionematicides market is projected to reach $2.11 billion by 2030, at a CAGR of 14.6% from 2023 to 2030.

The growth of this market is driven by the growing awareness regarding environmental safety, growing organic farming and the rising demand for organic food, market players' focus on product launches and acquisitions, and increasing government initiatives promoting the use of bionematicides. However, the lack of awareness and low adoption of bionematicides and the complex regulations for bionematicides hinder the growth of this market to some extent.
The growing adoption of biological seed treatments is expected to create market growth opportunities. However, the limited availability of bionematicides is a major challenge for the stakeholders in this market.
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Key Players:
The report includes an extensive assessment of the key strategic developments by leading market participants in the industry over the past five years (2020-2023). The bionematicides market has witnessed several product launches, partnerships, agreements, and collaborations in recent years. The key players operating in the bionematicides market are American Vanguard Corporation (U.S.), BASF SE (Germany), Bayer AG (Germany), Biobest Group NV (Belgium), Corteva, Inc. (U.S.), FMC Corporation (U.S.), Gowan Company, LLC. (U.S.), Nufarm Limited (Australia), Pro Farm Group Inc. (U.S.), Syngenta AG (Switzerland), Sumitomo Chemical Co., Ltd. (Japan), and UPL Limited (India).

The bionematicides market is segmented by type (microbial nematicides {bacillus-based bionematicides, paecilomyces lilacinus-based bionematicides, and other microbial nematicides}, and other biochemical nematicides), by form (liquid, dry), by nematode type (root-knot nematode, cyst nematode, lesion nematodes, and other nematodes), by mode of application ( soil treatment, seed treatment, fumigation, and other modes of application), by crop type (cereals & grains {maize/corn, wheat, other cereals & grains}, fruits & vegetables, oilseeds & pulses, and other crops, and geography (North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa). The study also evaluates industry competitors and analyses the regional and country-level markets.

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Key Findings in the Bionematicides Market Study:
Among all the types studied in this report, the microbial nematicides segment is projected to register the highest CAGR during the forecast period of 2023-2030 due to the increasing demand for organic and residue-free food, growing awareness about the environmental and health concerns caused due to extreme use of chemical nematicides, rising government initiatives to support the use of biologicals in crop cultivation, and increasing need for sustainable agricultural practices.

Among all the forms studied in this report, the liquid segment is expected to account for the largest share of the global bionematicides market in 2023 due to the uniform & easy application and better performance. Also, the increasing importance of liquid form in modern irrigation technology, such as drip irrigation and sprinkler irrigation, and increased government support for these systems drive the demand for liquid-based bionematicides.

Among all the nematode types studied in this report, in 2023, the root-knot nematode segment is expected to account for the largest share of the bionematicides market. The large market share of this segment is mainly driven by factors such as the rising prevalence of root-knot nematodes in crops. Moreover, this segment is slated to register the highest CAGR during the forecast period 2023-2030.

Among all the modes of application studied in this report, the seed treatment segment is slated to register the highest CAGR during the forecast period 2023-2030 owing to rising awareness regarding the benefits offered by seed treatment, high efficacy of bionematicides in controlling nematodes in the seed treatment, advancement in the seed treatment technologies, requires low quantity of bionematicides and low wastage with uniform application.

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Among all the crop types studied in this report, the fruits & vegetables segment is slated to register the highest CAGR during the forecast period 2023-2030 owing to the growing demand for organic fruit and vegetables, the growing demand for residue-free fruits and vegetables, and the increasing prevalence of nematode infestations impacting fruit and vegetable crops.

Based on geography, the bionematicides market is majorly segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Europe is further slated to register the highest CAGR during the forecast period of 2023-2030, owing to an increasing ban on existing chemical nematicides products, rising government support to boost organic farming, rising awareness about health and environmental concerns, increasing demand for organic food and drinks, stringent government regulations regarding the uses of chemical nematicides, and increasing adoption of advanced farming practices and pesticide technologies.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/bionematicides-market-5703

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This release was published on openPR.