Newark, NJ, May 19, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global nematicides market is expected to grow from USD 1.3 billion in 2019 to USD 1.7 billion by 2027, at a CAGR of 3.4% during the forecast period 2020-2027. The Asia-Pacific region stands as a promising market for nematicides and is expected to grow at the highest CAGR during the forecast period. APAC region’s potential is attributed to a growing population having additional food requirements. However, the North America region holds the largest market share due to major crops like corn and cotton being negatively affected by the presence of diverse nematode species. Environmental concerns regarding chemical nematicides are a factor that hinders market growth. Hence, farmers are opting for bio-based nematicides.
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Key players in the global nematicides market are Bayer AG, Certis USA LLC, UPL Limited, Chr. Hansen, T. Stanes & Company Limited, Dow Chemical Company, Corteva Agriscience, Crop IQ Technology, American Vanguard Corporation, Brandt Consolidated, Inc, FMC Corporation, Adama, BASF SE, Real IPM Kenya, Sumitomo Chemical Co. Ltd, Corteva Agriscience, Agri Life, Horizon Group, Monsanto Company, Marrone Bio Innovations, Valent, Syngenta Crop Protection AG, Nufarm and Isagro Group, among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the nematicides market.
Bayer AG launched a new nematicide product, called the BioAct Prime in May 2019 to prevent nematodes infestations in horticultural crops.
The nematode type segment includes root-knot, cyst, and others. The chemical type segment includes bionematicides, organophosphates, fumigants, carbamates, and others. The bionematicides segment is projected to dominate the market with the highest growth rate owing to increasing environmental concerns and awareness about organic foods. On the basis of crop type, the market has been divided into field crops, vegetables, fruits & nuts, and others. The segment of vegetables is estimated to hold the largest market share due to rising infestations of vegetables such as potatoes, tomatoes and cabbages by nematodes. Based on formulation, the market has been divided into emulsifiable concentrates, liquids, and granulars. Granular nematicides dominated the market. The applications segment includes soil dressing, seed treatment, fumigation, and drenching. Fumigants are typically administered only to high-value crops several weeks before the actual plantation in order to eliminate existing nematodes and other parasites.
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About the report:
The global nematicides market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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