The global bionematicides market is moderately fragmented, with top five players accounting for 58% shares in 2014. Bayer CropScience AG and BASF SE were the most dominant players in the bionematicides market, while other prominent players included Certis USA LLC., Dow AgroSciences LLC, FMC Corporation, Marrone Bio Innovations, Inc., Monsanto Company, Novozymes, and Valent BioSciences Corporation. The opportunities global bionematicides market was valued at US$140.5 mn in 2014, and rising at a CAGR of 4.2% during the forecast period of 2015–2023, it is estimated to reach a valuation of US$203.5 mn by the end of 2024.
Companies operating in the bionematicides market are highly dependent on research and development activities. These activities are carried out in-house as well as government and private institutes. Raw material for these R&D activities include chemicals and instruments required in genetic engineering and other research. Companies such as Monsanto Company, Bayer CropScience AG, Syngenta AG, and BASF SE have in in-house R&D centers and spend a significant chunk of their revenue on these activities. Also, a few companies have acquired small players who have developed biomaticide products to strengthen their position in the market. For instance, Bayer CropScience AG acquired AgroGreen that developed Bacillus Firmus-based bionematicides in 2010. Product testing also forms an important part. Companies have in-house testing centers or collaborate with regional testing centers and farmers in order to test products in different regions under specific climate conditions.
Asia Pacific Offers Lucrative Secondary Market
Bionematicides are used in cotton, soybean, corn, fruits and vegetables, and cereals and grains among others. These crop types together account for majority share of the global demand for bionematicides. The segment of fruits and vegetables accounted for the most prominent share at 29.98% in 2014, and is estimated to sustain the demand through-out the forecast period. The high level of nematode infestation globally and environmental regulations against chemical nematicides drive demand for bionematicides.
Geographically, North America was evaluated as the most lucrative market for bionematicides with a share of 33.7% in 2014. Availability and usage of bionematicides in the U.S. is credited to the increasing demand in the region. Europe was the second most prominent market in 2014, although Asia Pacific is expected to take-over the position towards the end of the forecast period of 2015–2023. Asia Pacific is estimated to expand at the most robust rate due to increased adoption of biopesticides in the last few years.
Environmental Concerns Driving Adoptability
High level of crop infestation by nematodes globally is the primary factor driving the demand for bionematicides. According to the World Bank, the global population is projected to increase by 35% in 2050. This presents a key challenge to ensure food security at the global level. Concurrently, significant improvements are necessary in terms of resource use efficiency. Additionally, environmental regulations against chemical nematicides and yield losses are expected to augment the demand for bionematicides during the forecast period. Conversely, the factors such as limited spectrum and issues with activity of bionematicides are anticipated to hinder the growth rate.
According to the author of the report, “burgeoning organic agriculture industry offers tremendous opportunity in the global bionematicides market. Majority of the countries that have high agricultural land for cultivation are adopting organic agriculture standards in order to increase the global sustainability and enhance profit margin. With organic agriculture, producers can charge a premium on products that they sell as compared to conventional producers, which will increase profitability.”
The information presented in this review is based on a Transparency Market Research report, titled, “Bionematicides Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
Key Segments of the Global Bionematicides Market
Bionematicides Market - Crop Analysis
- Fruits & vegetables
- Leafy vegetables
- Ther fruits & vegetables (Including banana, potato, citrus, etc.)
- Others (Including oil crops, cereals, pulses, etc.)
Bionematicides - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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