The global agricultural antibacterial market is projected to register a CAGR of 3.8% during the forecast period.
- Increasing demand for food, challenging environmental factors and decreasing per capita farmland are the major factors that are driving the market.
- Europe is one of the largest markets for the agricultural antibacterial market holding a major market share of the total revenue.
- Key players have concentrated their major R&D efforts to develop products conforming to the European regulations for antibacterial, since these regulations are considered to be benchmarks in terms of quality and environmental impacts.
Key Market Trends
Growing Demand for Food and Shrinking Arable Land Per Capita
The global population is increasing exponentially, according to the US Population Division, the world’s human population has increased nearly fourfold in the past 100 years and is projected to reach 9.2 billion by 2050. Although the new plant technologies are continuously being developed to fight pest attacks, they are also leading to the development of new strains of pests developing resistance to the technology. According to the World Bank data, the arable land per capita has decreased from 0.195 in 2014 to 0.192 in 2016 which indicates a need to apply antibacterial to increase food production and also to grow healthy and quality crops. According to the UN Population Division, the largest population increase is projected to occur in Asia (particularly in India, China, and Southeast Asia), accounting for 60% or more of the global population, by 2050. Large quantities of crop protection chemicals are expected to be required in this region, in order to increase food production for the growing population.
Asia-Pacific is the Fastest Growing Market
The demand for antibacterials is projected to rise in the Asia Pacific region, particularly in China, India, and Japan. The increase in agricultural activities coupled with the rise in demand for quality crops is driving the growth of the antibacterial market in agriculture. The countries in this region have observed an increase in the consumption of antibacterial, due to the increasing awareness among farmers related to the effects of bacterial infections on crop yields. Europe is one of the largest contributors to the global antibacterial market in agriculture due to the increase in the use of antibacterial products through advanced agricultural techniques and a rise in the need for food security in the European countries. Italy and France constituted one of the largest country-level markets in the European region in 2019.
The agricultural antibacterial market is a fragmented market dominated by a few major players like BASF SE, Syngenta, Nufarm, Bayer CropScience, and Corteva Agriscience. Mergers, acquisitions, partnerships, expansion, innovation are some of the strategies adopted by the major players in the market.
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