Bionematicides Market size worth $209.1mn by 2024: Global Market Insights Inc. Bionematicides Market size is projected to touch USD 209.1 million by 2024; according to a new research report by Global Market Insights, Inc. Diminished fertile farming land availability due to rapid industrialization has driven bionematicides market size significantly. Furthermore, crops are highly infested by nematodes owing to propel industry growth by 2024. Strict environmental legislations favoring bio based and organic fertilizers over chemical will further complement growth. These bio fertilizers owing to its ability to improve yield laterally with being eco-friendly are appropriate for application. By 2050, global population might reach 9 billion, which will increase food demand. Consequently, this will increase yielding fertilizers, seed & crop management demand to increase crop yield. In addition, rising consumer awareness and demand for food produced from organic or bio based fertilizers will boost bionematicides market share over the forecast timeframe. Also, agricultural trade is forecast to inflate in coming years, resulting in business growth.
Slow product action on large pests along with little shell life may hinder bionematicide adoption. In addition, inadequate product variety for several crops may negatively impact bionematicides market size by 2024. Nevertheless, enduring R&D towards biotic nematodes control is likely to boost the market for bioneaticides. Arkansas Fungus, Pochonia chlamydospora and Paecilomyces lilacinus are recognized as parasites of the nematodes egg stage. Thus, two biocontrol products are presented for nematode control on cotton, namely Linnaeus and Gossypium hirsutum.
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