Description

Bionematicides market was valued at USD 220 million in 2020 and is anticipated to grow at USD 585.20 million till 2027 recording a CAGR of 15% during the forecast period 2021-2027. Bionematicides are the bio-based substances which are used in the treatment of nematode infestation in the crops. Bionematicides are comprised of microorganisms such as bacteria and fungi. Bionematicides are different from nematicides and these are eco-friendly products and do not cause any harm to the nature of the crop and fertility of soil. Bionematicides are also used in the farming to improve the quality and yield of the products. Moreover, the bionematicides are extracted from animal and plant extracts are of cost-effective. The application of bionematicides starts from pre-plantation stage to improve the growth of plant. Bionematicides market is growing at a significant CAGR owing to increase in the nematode infestation on agriculture crops and stringent regulations on the use of chemical nematicides.  bionematicides are most commonly preferred over chemical nematicides due to low cost and eco-friendly nature. Moreover, acquisitions and mergers, collaborations, and product launchings are the strategies followed by the companies for acquiring the bionematicides market share. For instance, in October 2015, Marrone Bio Innovations, Inc. received the U.S. Environmental Protection Agency approval for Majestine, a broad-spectrum bionematicide used to control nematodes in crops. Moreover, in June 2016, Stoller acquired Rizoflora Biotechnology and launched Rizotec, a bionematicide in Brazil.

ASIA PACIFIC OFFICE

Precision Business Insights, 5th Floor, Mohan’s Elite, Opp : Bharat Petroleum Pump, Khanamet Road, Hitech City, Hyderabad – 500084

EUROPE OFFICE

Precision Business Insights, Kemp House, 152 – 160 City Road, London EC1V 2NX