Meticulous Research®, a leading global market research company, has published a comprehensive 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’. According to this latest publication, the bionematicides market is projected to reach $2.11 billion by 2030, growing at a robust CAGR of 14.6% from 2023 to 2030.
The market's rapid growth is fueled by several key factors:
- Increasing awareness of environmental safety and sustainability.
- The growing popularity of organic farming and rising demand for organic food.
- Market players’ focus on product innovation, launches, and strategic acquisitions.
- Government initiatives promoting the use of bionematicides.
However, challenges such as a lack of awareness, low adoption rates, and complex regulatory landscapes could hinder market growth to some extent. Despite these challenges, the growing adoption of biological seed treatments is expected to present significant growth opportunities. On the other hand, the limited availability of bionematicides remains a critical challenge for stakeholders.
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Key Players in the Bionematicides Market
The bionematicides market is moderately competitive, with numerous global, regional, and local players. Key companies operating in this market include:
- 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)
- UPL Limited (India)
Market Segmentation and Insights
By Type: The market is primarily segmented into microbial nematicides and biochemical nematicides. In 2023, the microbial nematicides segment is expected to dominate the market, driven by increasing demand for organic and residue-free food, growing environmental and health concerns over chemical nematicides, and government support for sustainable agricultural practices.
By Form: The liquid segment is anticipated to hold the largest market share in 2023. The segment's growth is attributed to the ease of application, uniform distribution, and better performance of liquid formulations, especially in modern irrigation systems like drip and sprinkler irrigation.
By Nematode Type: Root-knot nematodes are expected to account for the largest market share in 2023, owing to the rising infestation in various crops across multiple regions.
By Mode of Application: The soil treatment segment is projected to lead the market in 2023, offering the most effective means of targeting soil-dwelling nematodes and preventing their spread.
By Crop Type: The cereals & grains segment is expected to hold the largest market share in 2023, driven by increasing demand for organic cereals & grains, large-scale organic cultivation, and the rising popularity of residue-free, ready-to-eat cereal products.
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Geographic Analysis
The report provides an in-depth analysis of key regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the market in 2023, driven by factors such as a growing population, increasing food demand, and rising awareness of bionematicides' benefits in improving crop yield.
Key Questions Addressed in the Report
- What is the projected revenue for the bionematicides market by 2030?
- What factors are driving the market’s growth?
- What opportunities exist for new entrants and existing players in this market?
- Which segments are expected to see the most traction?
- What are the key regional trends and growth opportunities?
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