New York, US, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Nematicides Market Information by Type, Form, Crop Type, Mode of Application, and Region- Forecast till 2030”, the market is estimated to acquire a size of over USD 2.1 billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 4.69% during the review timeframe.
Market Synopsis
Nematicides are a pesticide used to eliminate nematodes, which are extremely proliferative plant parasites. As a result, their demand is rising in various agricultural, industrial, and other uses. The need for high-yielding crops to meet the world's food needs has inversely increased in response to a decline in fertile and arable land. Due to the need to increase crop protection and enhance the yield quality from short crops, this factor has significantly increased the demand for nematicides. More than 15,000 different species of roundworms are collectively referred to as nematodes in science. Nematode species that destroy crops are typically quite small.
Nematodes can severely harm plants by consuming their fruits and blossoms, affecting yield. To manage and eliminate nematodes, utilize nematicides. The global nematicides market is anticipated to develop as a result of nematicides' ability to boost nutrient uptake and water use efficiency, which lowers the cost of fertilizers and irrigation and increases crop yields. Through intensive research and development initiatives, several agricultural service providers have also been attempting to profit from the growing demand for bio-nematicides. Despite this, demand for synthetic or chemical nematicides is still rising. Recent years have also seen an increase in the popularity of biological nematicides, mostly due to the global adoption of integrated pest management strategies and sustainable farming practices.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 2.1 Billion |
| CAGR | 4.69% (2020–2030) |
| Base Year | 2019 |
| Forecast Period | 2020-2030 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Type, Form, Crop Type, Mode of Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increase the Nutrient Uptake |
| Water Use Efficiency |
Market Competitive Landscape:
The notable companies in the nematicide market are:
- BASF SE (Germany)
- Bayer CropScience AG (Germany)
- The DOW Chemical Company (US)
- Ishihara Sangyo Kaisha Ltd. (Japan)
- Valent USA (US)
- Simbiose Agrotecnologia Biologica (Brazil)
- Marrone Bio Innovations Inc. (US)
- American Vanguard Corporation (US)
- Isagro Group Spa (Italy)
- The Monsanto Company (US)
- Syngenta AG (Switzerland)
- FMC Corporation (US)
- ADAMA Agricultural Solutions Ltd. (Israel)
- Nufram Limited (Australia)
- Sumitomo Chemical Co., Ltd (Japan)
Market U.S.P. Covered:
Market Drivers:
The need for nematode management solutions is expanding due to increased demand for high-value crops, including fruits and vegetables, and rising nematode infection rates. Growers are influencing the direction of the market's growth in developed and emerging nations that have a higher level of product acceptance and appreciation. Due to growing environmental concerns and health issues from synthetic agricultural inputs, significant demand exists for sustainable agricultural inputs like bio-based nematicides. To lessen the total impact on people and the environment, conventional farming is gradually being replaced by organic farming. Furthermore, to satisfy consumer and grower demand for sustainable agricultural solutions, well-known industry producers are concentrating on obtaining regulatory filings for bionematicide goods.
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Market Restraints:
One of the most vital elements of agricultural productivity is the use of pesticides. Farmers have used them for millennia to manage weeds and insects that lower crop output. As agricultural production rose globally, pesticide use increased, prompting worries about environmental harm and efforts to decrease the use of dangerous chemicals. The market development for nematicides may be hampered by the repetitive use of these chemically created pesticides, which can hurt the environment and human health.
COVID 19 Analysis
The pandemic epidemic has caused the worldwide market to slow down due to different socioeconomic shifts. Manufacturers of nematicides have difficulties due to inconsistent availability of raw ingredients and manpower shortages, similar to the traditional pesticides sector. Due to the limited number of carriers, price gouging by some logistics companies has become a big issue. The market's supply chain was hampered by temporary restrictions on the aviation industry, a ban on overseas travel, and a decrease in the transportation of dry bulk goods as a result of the outbreak. Additionally, growers continue to put much effort into ensuring adequate food supply because governments have declared agricultural activities essential, which is anticipated to have a favorable impact on product growth.
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Market Segmentation
By Type
The fumigants segment will bolster the global market in the forecast period.
By Form
The dry segment will reinforce the global market in the forecast period.
By Crop Type
The fruits & Vegetable segment will strengthen the global market in the forecast period.
By Mode Of Application
The fumigation segment will support the global market in the forecast period.
Regional Insights
Due to the declining amount of arable land and rising demand for food, the North American market is anticipated to dominate the worldwide nematicides market over the forecast period. Furthermore, it is projected that the demand for nematicides in this region will rise as modern agricultural practices are increasingly adopted. Therefore, it is predicted that the market will experience growth over the forecast period due to rising global demand for bio-based nematodes and a rise in nematode infestation in crops.
Due to the expanding growth of high-value crops, including vegetables and fruits, the demand for nematode control products in the Asia-Pacific region is anticipated to remain positive. As a result, many well-known market companies active in the international market are growing their operations in the area. Additionally, farmers in emerging nations like China and India are now concentrating on commercially grown fruits and vegetables, which is anticipated to promote the expansion of the nematicides market in this region. Due to adopting sustainable agricultural methods, the demand for nematicides is rising in several nations, including Argentina and Brazil. As a result, the market in the rest of the world is anticipated to develop at an amazing growth rate.
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