The global nematicide market is projected to reach USD 3.0 billion by 2027, recording a CAGR of 9.9% during the forecast period. The global industry is estimated to be valued at USD 1.9 billion in 2022. Nematodes are non-segmented, bilaterally symmetric worm-like invertebrates that lack respiratory and circulatory systems but have a body cavity and a fully functional digestive system. It is difficult to create chemical countermeasures against worms that infest plants. It is challenging to administer a chemical to a nematode’s immediate surroundings since most phyto-parasitic nematodes spend their whole lives isolated in the soil or inside plant roots. The nematicides market is witnessing high growth because of increasing demand in developing countries, easy availability of crop protection products, growing area under high-value cash crops such as fruits & vegetables, as well as rising demand for food products on account of increasing population.
1. Increasing Demand for Sustainable Solutions: There has been a growing emphasis on sustainable and environmentally friendly agricultural practices. This has led to an increased demand for nematicides that are effective yet less harmful to the environment and non-target organisms.
2. Bio-Based Nematicides: The shift towards organic and bio-based farming has influenced the nematicide market. Bio-based nematicides, derived from natural sources, have gained popularity as they are perceived as safer alternatives with lower environmental impact.
3. Research and Development: Ongoing research and development efforts have been focused on the discovery of new active ingredients and formulations for nematicides. Companies are investing in developing innovative solutions to enhance efficacy and reduce negative side effects.
4. Integrated Pest Management (IPM): Integrated Pest Management practices, which involve combining biological, cultural, and chemical control methods, have gained traction. Nematicides are often used as part of an integrated approach to manage nematode populations more effectively.
5. Global Market Expansion: The demand for nematicides has been increasing globally, driven by factors such as population growth, expanding agriculture, and the need for higher crop yields. Emerging economies with significant agricultural activities are becoming key markets for nematicide products.
6. Stringent Regulatory Environment: Regulatory authorities worldwide are imposing stricter regulations on the use of chemical pesticides, including nematicides. This has led to the development and adoption of nematicides that comply with these regulations and have lower environmental and health risks.
7. Precision Agriculture: The adoption of precision agriculture technologies has also influenced the nematicide market. Farmers are using advanced technologies to monitor and manage nematode infestations more precisely, optimizing the use of nematicides.
8. Collaborations and Partnerships: Companies in the nematicide sector are increasingly forming collaborations and partnerships to leverage each other’s strengths in research, development, and market reach. This trend aims to accelerate innovation and improve the overall competitiveness of products.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=193252005
Challenges: Lack of awareness and low utilization of biologicals
As the market is highly fragmented at the regional level, awareness regarding various brands is low. Despite considerable efforts by agronomists, agricultural universities, companies, and governments across the globe in recent years, most of the farmers are unaware of biological products and their benefits in increasing cost-yield sustainability. On the other hand, in countries such as India and China that are the most populous economies and where agriculture is the major source of income for more than half of the countries’ population, food demand remains higher, and farmers are not willing to take risks by production capacity and also small retailers, and shopkeepers are unwilling to stock and sell biologicals in the country, as they feel their quality is unreliable.
North America is projected to reach USD 0.91 Billion during the forecast period.
In 2021, North America accounted for a market share of 31.60 % in the global nematicide market. With the rising disposable income among the consumers in the US and Mexico, the shift toward the use of recreational services is higher, as a result of which the demand for planting turf & grasses in amusement parks, shopping malls, and residential areas have increased. Turf & grasses are majorly affected by lesion and root-knot nematodes, due to which they stop responding to irrigation. Likewise, the growing international and domestic demand for fruits, vegetables, and field crops alongside the strong focus on the adoption of organic farming is driving the market for bionematicides in the region.
Top Companies in Nematicide Market
1. BASF SE (Germany)
2. Isagro s.p.a (Italy)
3. CORTEVA AGRISCIENCE (US)
4. SYNGENTA AG (Switzerland)
5. BAYER AG (Germany)
6. UPL LIMITED (India)
7. American vanguard corporation (US)
8. Nufarm (Australia)
9. FMC CORPORATION (US)
10. Chr. Hansen (Denmark)
Key Questions Addressed by the Nematicide Market Report:
Which region is projected to account for the largest share in the global nematicide market?
What is the current size of the global nematicide market?
Which are the key players in the market, and how intense is the competition?
What is a nematicide?
What are the major factors driving the growth of the nematicide market?
What are the major challenges facing the nematicide market?
About MarketsandMarkets™
MarketsandMarketsTM has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/nematicides-market-193252005.html