Market Synopsis:
The nematicides market is projected to achieve a USD 2.1 billion valuation by 2030, with a 4.69% CAGR between 2022 and 2030.
Market Research Future (MRFR)’s analysis has revealed that the global nematicides market is projected to grow at a healthy pace over the forecast period 2017 to 2023. The longevity of pests has intensified the demand for nematicides across the agriculture sector. Investments are likely to be injected into the Nematicides Market for product development and product innovation.
The burden on the healthcare sector due to the large-scale presence of chronic diseases has encouraged changes in consumer behavior pattern. An upsurge in demand for organic products is expected which is likely to generate nematicides demand over the next couple of years.
The population explosion has been exercising pressure on crop production over the past few years. The scarcity of arable land has necessitated the use of pesticides for protecting crops from destruction. Nematodes are microscopic which makes it difficult to detect them. Nematicides helps in protecting crops from nematodes and other soil-dwelling insects. This, in turn, has propelled the expansion of Nematicides Market.
Researchers are focusing on the development of products that can be used with other products without causing harmful reactions. Emphasis is also placed on the development of organic nematicides which is aimed at supporting the growing demand for organic fruits and vegetables. Nevertheless, the toxicity caused by its consumption is poised to hamper the growth of the nematicides market.
Market Segmentation:
On the basis of type, the global Nematicides Market has been segmented into organophosphates, carbamates, fumigants, bio-nematicides, and others.
On the basis of form, the nematicides market is segmented into powder, liquid, and others. Among these, the liquid form segment is currently dominating the market. It has been projected to grow significantly in the upcoming years owing to the convenience offered during usage.
On the basis of application, the global nematicides market has been segmented into fruits and vegetables, cereals & pulses, oilseeds & grains, and others. Among these, the fruits and vegetable segment is anticipated to attract a relatively larger customer base. Its growth can be ascribed to the increasing demand for organic fruits & vegetables.
Regional Analysis:
By region, the global nematicides market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is the dominant regional market for nematicides and is expected to grow significantly through the forecast period. The developments in the agritech industry are likely to favor the growth of the agriculture sector in the forthcoming years, thus, aiding the proliferation of nematicides market in the region. The U.S. has been witnessing strong revenue growth owing to its excessive use in the agriculture sector.
Europe is another important growth pocket and is projected to secure the second spot over the assessment period. The growth of precision farming has led to an expansion of the nematicides market. The trend has been presumed to continue in the foreseeable future.
Competitive Dashboard:
Some of the Key Nematicides Market Players profiled in the report are BASF SE (Germany), Monsanto Company (U.S.), The Dow Chemical Company (U.S.), Bayer CropScience AG (Germany), E. I. du Pont de Nemours and Company (U.S.), FMC Corporation (U.S.), Ishihara Sangyo Kaisha, Ltd. (Japan), Valent U.S.A. Corporation (U.S.), Syngenta AG (Switzerland), and Adama Agricultural Solutions Ltd. (Israel).
According to the MRFR reports, the global Nematicides Market Size is likely to attain a over USD 2.1 Billion by the end of 2030 while flourishing at a healthy CAGR of over 4.69% during the forecasted era.
Industry Developments:
In January 2018, Bayer AG, a German multinational pharmaceutical and life sciences company, has acquired Monsanto Company, an American agrochemical and agricultural biotechnology corporation, under its crop division.
In June 2018, Beck’s, a global leader in the science and business of agriculture, has launched a new nematicide for corns and soybeans. Nemasect provides protection against nematode species as well as many soil-dwelling insects.
In January 2018, Organisan Corp., a leader in agriculture and horticulture crop production, has announced the launch of an EPA-registered nematicide, Nemasan, which is organically produced and can be applied year-round with other agricultural products.
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