Bionematicides Market New Business Opportunities & Investment Research Report | Forecast up to 2023

Transparency Market Research has published a new report titled “Bionematicides Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023.” According to the report, the global bionematicides market was valued at US$ 140.5 Mn in 2014 and is likely to reach US$ 203.5 Mn in 2023, expanding at a CAGR of 4.2% between 2015 and 2023.Bionematicides are used to prevent or treat crop infestation by nematodes.Bionematicides generally comprises bacterial or fungal spores and inert material.

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High level of crop infestation by nematodes is expected to drive growth of the bionematicides market globally. Nematodes infect almost all types of crops across the globe that leads to loss of yield. Optimum pest and disease management would be essential to increase resource efficiency and ensure food security. Additionally, stringent environmental regulations against chemical/traditional nematicides are anticipated to propel the bionematicides market further. However, the efficacy and activity of bionematicides is low and can be affected by various environmental and process factors such as the time of administration. This fact is expected to act as a restraining factor for growth of the bionematicides market. Emerging organic agriculture industry across the globe is projected to be an important opportunity for market players during the forecast period.

Geographically, the report takes stock of all major regions including Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Currently, North America served 30% of the demand in the global bionematicides market, primarily gaining demand from the developed countries of the U.S. and Canada. This high demand from North America is a result of growing acceptance of biopesticides over chemical pesticides, increasing popularity of agriculture biotechnology such as yield enhances and microbe-based pest control, and stringent regulations against chemical pesticides in the U.S. Europe currently is the second most profitable region, although heavily populated region of Asia Pacific is expected to escalate the demand for bionematicides in the near future.

The global bionematicides market reflects fragmented competitive landscape, wherein leading companies are challenged by the presence of several local vendors who provide cheaper products. In 2015, top five players managed only 55% of the market shares, while the rest of the pie was distributed among regional vendors. Some of the key players in the global bionematicides market are Dow AgroSciences LLC, Monsanto Company, BASF SE, Bayer CropScience AG, Valent BioSciences Corporation, Syngenta AG, FMC Corporation, Certis USA LLC, Novozymes, and Marrone Bio Innovations, Inc.

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