Nematicides Market to be Worth $3.58 Billion by 2030

 

 

 

Nematicides Market to be Worth $3.58 Billion by 2030


 


Meticulous Research®—a leading global market research company, published a research report titled, ‘Nematicides Market by Type (Chemical {Organophosphate, Carbamate, Fumigant}, Biological {Microbial [Bacillus Species]}, Biochemical), Form, Nematode Type (Root-knot, Cyst Nematodes), Mode of Application (Seed Treatment), Crop Type - Global Forecast to 2030.’

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According to this latest publication from Meticulous Research®, in terms of value, the global nematicides market is projected to reach $3.58 billion by 2030, at a CAGR of 8.9% during the forecast period of 2023–2030. In terms of volume, this global nematicides market is projected to reach 182,932.2 tons by 2030, at a CAGR of 8.5% during the forecast period of 2023–2030. Rising demand for organic foods, growing environmental concerns, and market players’ focus on product launches and acquisitions are some of the factors driving the growth of this market. However, the lack of awareness and low adoption of bionematicides and stringent and non-standardized regulations restrain the growth of this market. Moreover, emerging markets in Asia-Pacific and Latin America and the growing adoption of biological seed treatments are expected to generate growth opportunities for the players operating in this market. However, the limited availability of bionematicides is a challenge for market stakeholders. Additionally, the growing utilization of sustainable agricultural inputs is a prominent trend in the nematicides market.

Key Players

The key players operating in the global nematicides market are American Vanguard Corporation (U.S.), BASF SE (Germany), Bayer AG (Germany), Biobest Group NV (Belgium), Corteva, Inc. (U.S.), FMC Corporation (U.S.), Gowan Company, LLC. (U.S.), Nufarm Limited (Australia), Pro Farm Group Inc. (U.S.), Syngenta AG (Switzerland), Sumitomo Chemical Co., Ltd. (Japan), and UPL Limited (India).

The global nematicides market is segmented by type (chemical nematicides {organophosphates, carbamates, fumigants, and other chemical nematicides} and biological nematicides {microbial nematicides [bacillus species, paecilomyces lilacinus], biochemical nematicides}), form (liquid and dry), nematode type (root-knot nematodes, cyst nematodes, lesion nematodes, and other nematodes), mode of application (soil treatment, seed treatment, fumigation, and other modes of application), crop type (cereals & grains (maize/corn, wheat, and other cereals & grains), fruits & vegetables, oilseeds & pulses, and other crops) and by geography (North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa). The study also evaluates industry competitors and analyses the regional and country-level markets.

Based on type, the nematicides market is segmented into chemical nematicides (organophosphates, carbamates, fumigants, and other chemical nematicides) and biological nematicides (microbial nematicides {bacillus species, paecilomyces lilacinus}, biochemical nematicides). In 2023, the chemical nematicides segment is expected to account for a larger share of the global nematicides market. The large market share of this segment is attributed to the need for high crop yields, the rising global food demand, the increase in nematode infestation in crops, and the demonstrated efficacy of nematicides in controlling these pests.

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Based on form, the global nematicides market is segmented into liquid and dry. The liquid segment is projected to register a higher CAGR during the forecast period of 2023-2030 due to the lower dosage requirement of liquid nematicides compared to fumigant nematicides (typically requiring only a few kilograms of active ingredients per hectare) and their straightforward application without the need for specialized equipment.

Based on nematode type, the global nematicides market is segmented into root-knot nematodes, cyst nematodes, lesion nematodes, and other nematodes. In 2023, the root-knot nematodes segment is expected to account for the largest share of the global nematicides market. The large market share of this segment is mainly attributed to the growing demand for nematicides to control root-knot nematodes due to the high prevalence of root-knot nematodes in crops worldwide.

Based on mode of application, the global nematicides market is segmented into soil treatment, seed treatment, fumigation, and other modes of application. The seed treatment segment is projected to register the highest CAGR during the forecast period due to the growing demand for nematicides to control nematode infestation in seeds. Furthermore, advancements in seed treatment technologies and the growing awareness regarding the benefits offered by seed treatment are expected to drive the growth of this segment during the forecast period 2023–2030.

Based on crop type, the global nematicides market is segmented into cereals & grains (maize/corn, wheat, and other cereals & grains), fruits & vegetables, oilseeds & pulses, and other crops. In 2023, the cereals & grains segment is expected to account for the largest share of the global nematicides market. The large share of this segment is mainly attributed to rising disposable incomes and the increasing demand for ready-to-eat cereal products such as cornflakes and muesli. In addition, major cereal-based snack manufacturers are adopting contact farming strategies through backward integration to ensure quality, quantity, and price benefits. These factors are expected to drive the utilization of nematicides in the cultivation of cereals and grains, supporting the growth of this segment.

Based on geography, the nematicides market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Europe is slated to register the highest CAGR during the forecast period of 2023-2030. The growth of this regional market is driven by the rising population, decreasing arable land, advances in farming practices and technology, increasing government initiatives to boost organic farming, the rising adoption of bionematicides, and growing investments in R&D activities.

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Key Questions Answered in the Report:

·  What are the historical market sizes, volume, and growth rates of the global nematicides market?

·  At what rate is the global nematicides demand projected to grow for the next 5–7 years?

·  What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?

·  Which segments, in terms of type, form, nematode type, mode of application, and crop type, are expected to create major traction for the manufacturers in this market during the forecast period of 2023–2030?

·  What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global nematicides market during the forecast period of 2023–2030?

·  Who are the major players in the global nematicides market? What are their specific product offerings in this market?

·  What are the recent strategic developments in the global nematicides market? What are the impacts of these strategic developments on the market?

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