Bionematicides Market Competitive Research, Industry Status, Key Drivers And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Bionematicides Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The bionematicides market size has grown rapidly in recent years. It will grow from $0.41 billion in 2023 to $0.47 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to increased awareness of environmental impacts from chemical pesticides spurred the shift towards biological solutions, advancements in microbial technology facilitated the production of effective bionematicides, regulatory pressures and bans on certain chemical nematicides accelerated the market for biological alternatives, and rising consumer demand for organic produce.

The bionematicides market size is expected to see rapid growth in the next few years. It will grow to $0.81 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to increased adoption of sustainable farming practices, expansion of commercial agriculture in emerging markets led to greater use of biological solutions, collaborations between biotech companies and agricultural institutions, integration of biocontrol agents into crop protection strategies, and heightened focus on soil health and microbiome management. Major trends in the forecast period include a surge in demand for environmentally friendly solutions, prompting significant innovation in bio-based formulations, biotechnology integration, increased adoption of preventive nematode management strategies, and sustainable agricultural practices.

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Market Drivers and Trends:

The increasing adoption of greenhouse farming is expected to propel the growth of the bionematicides market going forward. Greenhouse farming refers to cultivating crops in protected structures that are either fully or partially covered by transparent materials. Greenhouse farming is rising due to its ability to enhance crop yields and ensure year-round production regardless of external climate conditions. Bionematicides offer a solution for managing plant-parasitic nematodes (PPNs) in greenhouse farming, providing a sustainable and environmentally friendly alternative to chemical nematicides. For instance, in October 2023, according to Agriculture and Agri-Food Canada, a Canada-based department of the Government of Canada responsible for the federal regulation of agriculture, Canada saw 934 commercial greenhouse vegetable operations, yielding 752,685 metric tons of vegetables in 2022, which was a 5% rise in operations and a 7% increase in production compared to 2021. Therefore, the increasing adoption of greenhouse farming is expected to drive the growth of the bionematicides market.

Major companies operating in the bionematicides market are developing innovative products, such as plant-parasitic nematicide, to better serve customers with advanced features. A plant-parasitic nematicide refers to a type of pesticide specifically designed to target and control plant-parasitic nematodes, which are microscopic roundworms that parasitize plants and cause significant damage to crops. For instance, in September 2023, Corteva Inc., a US-based agriculture chemical company, launched Reklemel Active, a new nematicide to help protect a wide variety of food and row crops from plant-parasitic nematode damage without disrupting the healthy balance of beneficial organisms in the soil. It is one of the first new active ingredients to be registered under the EPA's updated policy, incorporating Endangered Species Act assessments into the pesticide registration process.

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Major Key Players of the Market:

BASF SE, Bayer AG, Syngenta AG, Corteva Agriscience, UPL Limited, FMC Corporation, Adama Agricultural Solutions Ltd., Novozymes A/S, Nufarm Limited, Chr. Hansen Holding A/S, Brandt, Isagro S.p.A., Koppert Biological Systems, T. Stanes and Company Limited, Certis USA LLC, Valent BioSciences Corporation, Marrone Bio Innovations Inc., The Real IPM Company, Andermatt Biocontrol AG, Bioworks Inc., Bio Huma Netics Inc., Horizon Agrotech

Bionematicides Market 2024 Key Insights:

• The bionematicides market size is expected to see rapid growth in the next few years. It will grow to $0.81 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%.
• Rising Greenhouse Farming To Boost Bionematicides Market Growth
• Innovative Products In The Bionematicides Market
• North America was the largest region in the bionematicides market in 2023

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