Nematicides Market Dynamics with Top Companies, Demand, and Forecast (2024-2033)"
Market Synopsis:
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 2023-2034. The longevity of pests has intensified the demand for nematicides across the agriculture sector. Investments are likely to be injected into the 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 patterns. 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 Market Outlook helps in protecting crops from nematodes and other soil-dwelling insects. This, in turn, has propelled the expansion of the nematicides market. Nematicides Market Size was valued at USD 1,903.64 million in 2022. The Nematicides industry is projected to grow from USD 2,039.95 million in 2023 to USD 4,020.69 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.83% during the forecast period (2023 - 2032).
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 fruit 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.
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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 the 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 insight. The trend is presumed to continue in the foreseeable future.
Competitive Dashboard:
Some of the key 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).
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, 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, announced the launch of an EPA-registered nematicide, Nemasan, which is organically produced and can be applied year-round with other agricultural products.
Key Players are:
BASF SE (Germany), Bayer Cropscience AG (Germany), The DOW Chemical Company (US), The Monsanto Company (US), Syngenta AG (Switzerland), FMC Corporation (US), ADAMA Agricultural Solutions Ltd. (Israel), Ishihara Sangyo Kaisha Ltd. (Japan), Valent USA (US), Simbiose Agrotecnologia Biologica (Brazil), Marrone Bio Innovations Inc. (US), American Vanguard Corporation (US)
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