Bactericides Market Share

European Market Forecast

The bactericides market in Europe is expected to expand at a substantial CAGR and will cover the largest with a share of approximately 36% by the end of 2037. The higher contribution of the agriculture sector to European GDP is the main factor driving the market growth in the region. Agriculture accounted for 1.4% of the EU GDP in 2022. Agricultural revenue per yearly work unit is expected to climb by an additional 12.5% in the EU in 2022, reaching a level 44.3% higher than the index level in 2015. On the other hand, the rising use of bactericides and growing practices of modern agriculture techniques is also expected to augment the market growth in the Europe region.

APAC Market Statistics

The Asia Pacific bactericides market will be projected to be the second-biggest with a share of around 28% by the end of 2037. The growing production of crops in the region is one of the major factors that is anticipated to boost the bactericides market in the Asia Pacific region. According to the Second Advance Estimate for 2022-23, cumulative foodgrain production in India is expected to reach an all-time high of 3235.54 lakh tonnes, up 79.38 LMT from the previous year 2021-22. Moreover, there is growing awareness among farmers in the Asia-Pacific region about the importance of crop protection and the need to manage bacterial diseases effectively. This increased awareness and knowledge are contributing to the growing demand for bactericides in the region.