Global Bactericides Market: Snapshot
With the alarming surge in the global population, the demand for food has increased fourfold over the past century. In a number countries with high population growth rate, people are suffering from food insecurity, which has led to the rising need to increase the crop yield. This, as a result, has fueled the demand for bactericides across the world, reflecting considerably on the global market for bactericides.
The leading players in this market have concentrated their research and development efforts on the advancement of products conforming to the European rules and regulations for antibacterial products, since these rules are said to be the benchmarks in terms of the quality and the environmental impacts of these chemicals. However, several factors, such as the dearth of awareness among agriculturists and farmers and the increasing incidence of environmental toxicology, may act as restraints in the growth trajectory of this market in the near future.
Well-established and fiscally stable market participants have been driving this market for several years. Most of the leading participants have been discovering new regional markets through product launches, strategic collaborations, and merges and acquisitions across the world in an effort to gain a competitive advantage through collective synergies over their rivals.
A bactericide, also called bacteriocide, is a substance that kills or inhibits the growth of bacteria. Bactericides can be classified as disinfectants, antiseptics, or antibiotics. Bactericides have been created to kill harmful bacteria, whilst not harming the important good bacteria. Bactericides are also used as antiseptics and are applied on the skin or tissue that has been damaged. This is to prevent the wound or tissue from getting infected by any form of bacteria or microorganisms. Disinfectants, unlike antiseptics or antibiotics, are not meant for usage on the human body and are applied over non-living surfaces in order to cleanse the surfaces off any microorganisms that might be present on them and could be harmful when made contact with. A classic example of a disinfectant can be the household dishwashing soap. These substances aid the disinfection of any microorganisms present on dishes and cleanse them for future use, providing a hygienic clean surface.
The global bactericide market can segmented on the basis of type, mode of application, crop type, and bactericide form type. The mode of application segment can be further sub-segmented into foliar spray and soil treatment. Foliar spray is the main mode of the application and primarily employed by farmers due to its ease of usage and high efficiency. Foliar spray is beneficial for a plant suffering from various nutrient deficiencies. A foliar spray sprays fertilizer directly on the leaves and not on the soil. This protects the soil from further exploitation. Spraying of bactericides by foliar spray reduces the cost of crop production by reducing machinery costs and labor cost. Therefore, it helps the farmer to grow crops efficiently. The crop type segment can be further sub-segmented into cereals & grains, fruits & vegetables, oilseeds & pulses, and other crop types. The factors boosting the expansion of the cereals & grains segment are the rise in the awareness of benefits, and nutrition derived from cereals & grains. Moreover, people are moving toward a healthy diet, hence the demand for exotic and tropical fruits is increasing in the developing economies.
The main driver for the bactericides market is the rising demand for food. Several countries across the globe are witnessing a rapid increase in population and issues regarding food. Rising population increases the challenge of sufficiently meeting the nutritional needs. To overcome this, crop protection is must, which is provided by pesticides such as bactericide. Increasing demand for food by the population is impacting the agricultural markets. Farmers around the globe need to increase crop production, by improving productivity on present agricultural lands by using bactericides. Thus, the crops need to be protected from fungal and bacterial infections in order to fulfil the demand for food by the rising population. This emerging need of food security is boosting the market. Rising cases of bacterial infections in crops is also driving the market. Stringent government regulations, and detrimental impact of overdose of bactericide are the main factors that are restraining the bactericide market.
Bactericides market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Rest of the World (RoW). Europe is a major region for the global bactericide market. Factors contributing to the expansion of the market in this region are the rise in usage of bactericides with innovative agricultural techniques and rise in need for security of food in the countries in the region. The market in Asia Pacific is projected to expand rapidly during the forecasted period. Increased availability of agricultural land in countries such as India and China, contributes to the rising demand for bactericides in Asia Pacific, thereby fuelling the rapid expansion of the market. The global bactericide market in agriculture is segmented region-wise, with a detailed analysis of each region by studying the key markets.
Key players operating in the bactericides market include Bayer Crop Science AG, BASF SE, Sharda Crop, Adama Agricultural Solutions Ltd., Syngenta AG, and Nufarm Limited.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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