Bacteriocide Market in Agriculture worth USD 11.88 Billion by 2022
The global bactericide/bacteriocide market in agriculture is estimated to be valued at USD 9.09 Billion in 2016 and projected to reach USD 11.88 Billion by 2022, at a CAGR of 4.6% from 2016.
Browse 119 market data tables and 52 figures spread through 195 pages and in-depth TOC on "Bacteriocide Market - Global Forecast to 2022"
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Rise in need for food security for the growing population, and increase in crop loss owing to nutrient deficiency, along with change in farming practices (from traditional to conventional), have been of importance to the growth of the global bacteriocide market in agriculture. Bacteriocides are used for high-quality crop yield for the increasing population and its growing food demand. Hence, bacteriocides will be viewed as a business opportunity in the next six years. As a result, many multinational players have entered into the production of various types of bacteriocides, which can be used for crops.
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Significant growth expected in the dithiocarbamate segment
Bacteriocides are highly used to control bacterial disease by specifically inhibiting or killing the bacterial causing the disease. They can be mixed with water, and hence easily applied through foliar spray, soil treatment. The ease in application mode has made these bacteriocides more convenient to use for the farmers. Dithiocarbamate are projected to be the fastest-growing types in the next six years.
The cereals & grains segment projected to be the fastest-growing market during the forecast period
Cereals & grains dominated the bacteriocides market in 2015; it is projected to grow at the highest CAGR of from 2016 to 2022. Rise in demand for cereals & grains, owing to the increased awareness regarding their nutritional benefits is driving the cereals & grains segment.
With a global increase in consumption of fruits & vegetables and growth in demand for tropical and exotic fruits & vegetables in the developing countries, this segment is likely to witness a growth by 2022.
Increase in need for food security, high investment in R&D, and change in farming practices—key to success in the European region
Europe is one of the largest contributors to the global bacteriocides due to the increase in use of bacteriocides through advanced agricultural techniques and rise in need for food security in the European countries. Italy and France constituted the largest country-level markets in the European region in 2015. High market penetration by the leading bacteriocides companies, for enhancing the agricultural growth and productivity, and the decrease in arable land are the main factors influencing the growth of the bacteriocides market in Europe.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include BASF SE (Germany), Dow AgroSciences LLC (U.S.), Sumitomo Chemical Co., Ltd (Japan), and Bayer CropScience AG (Germany); these are well-established and financially stable players that have been operating in the industry for several years. Other players include Syngenta AG (Switzerland), Nippon Soda Co. Ltd. (Japan), and Nufarm Ltd. (Australia).
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