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Market DynamicsThe global agriculture bactericides market is poised to expand at CAGR of 4.7% during the forecast period (2017-2023) backed by the surge in demand for food grains, says Market Research Future (MRFR).
Growth Factors and Key Challenges
Agriculture bactericides are the types of crop protectants that are used in agriculture produce by farmers. These contain biological or chemical compounds that curb the growth rate of bacterial infection and primarily used to protect crops. Amide bactericides, dithiocarbamate bactericides and copper-based bactericides are few chemical agriculture bactericides that are commercially available in the market.
With the constant change in climate, there has been a noteworthy rise in the pest life cycle. This factor will be instrumental in the development of the agriculture bactericides market in developed as well as developing nations. The expanding worldwide population has given birth to the rise in demand for food security along with the need to curb crop damage brought on by bacteria. This growing demand for food is set to propel the market growth in the subsequent years.
All said and done, the level of toxicity present in agriculture bactericides could slow down the market growth in the ensuing time frame. On the bright side, the increasing demand to protect crops from bacterial infection is predicted to have a lucrative effect on the market in the future. Also, the rising acceptance of integrated pest management (IPM) by numerous crop cultivators has added to the strength of the global market.
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Leading Vendors
The vendors currently leading the worldwide market for agriculture bactericides include
• Nippon Soda Co. Ltd. (Japan)
• Sumitomo Chemical Company Limited (Japan)
• Bayer CropScience AG (Germany)
• The Dow Chemical Company (U.S.)
• Adama Agricultural Solutions Ltd. (Israel)
• BASF SE (Germany)
• FMC Corporation (U.S.)
• Syngenta AG (Switzerland)
• E. I. du Pont de Nemours and Company (U.S.)
• Nufarm Limited (Australia)
Recent Developments
June 2019
SePRO Corporation has introduced its latest agriculture bactericide, Zio fungicide. It is a bacterium that has been chosen from a set of over 60,000 microbes which helps in protecting plants against hazardous diseases and also improves their quality.
Market Opportunities
With the drop in the crop quality due to nutrient deficiency giving rise to product demand, coupled with the change in farming practices, the global agricultural bactericide market has noted significant growth in recent times. The favorable demand for agricultural bactericides is being viewed as a growth opportunity by various industry players. As a consequence, numerous multinational vendors are entering into the production of different types of bactericides to elevate crop quality and yield.
Market Segmentation
The market for agriculture bactericides has been segmented on the basis of application, type and form.
Depending on the type, the agriculture bactericides market can be broken down into amide agriculture bactericides, copper-based agriculture bactericides, dithiocarbamate agriculture bactericides, and others. Here, the copper-based agriculture bactericides segment is expected to be in the lead, closely trialed by the dithiocarbamate segment. The segmental dominance is the result of the increasing use of agricultural crops along with fruits and vegetables.
Form-based segments in the global agriculture bactericides market include liquid, powder, and others. Out of these, the liquid segment’s coverage is presumed to be the highest on account of its easy use nature.
In terms of application, the agriculture bactericides market is considered for cereals & pulses, fruits and vegetables, oilseeds & grains, and others. The fruits and vegetable segment is poised to be at the top spot in the global market backed by the increasing awareness about the health benefits of organic fruits and vegetables.
Regional Analysis
The worldwide Agriculture Bactericides Market is spread across the prominent regions of Europe, Asia Pacific, North America, as well as the Rest-of-the-World (RoW).
Europe forms the biggest market for agriculture bactericides, while Asia Pacific is perceived to be the fastest-expanding market during the evaluation period. The high demand for agriculture bactericides in the region stems from the increasing bacterial infestations of crops, which substantiates the market position to a great extent.
In Asia Pacific, the rising availability of agricultural land in India as well as China among other countries, will contribute largely to the surging demand for agriculture bactericides. On top of that, the expanding regional population and the subsequently increasing demand for food has established the region’s fastest-growing status in the global market.
North America is estimated to depict a considerable growth in the worldwide market backed by the increasing consumer awareness along with the hike in demand for organic fruits, vegetables, pulses and cereals. The demand for the mentioned food products will note a significant growth in the developed countries like Canada and the United States (U.S). Besides, the mounting cases of bacterial infections in crops is gauged to drive the regional market furthermore.
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