Nematicides Market Size – USD 1.4 Billion in 2020, Market Growth – at a CAGR of 3.5%, Market Trends –Growing awareness regarding the benefits of nematicides
The global Nematicides Market size is expected to reach USD 1.75 Billion by 2028 at a CAGR of 3.5%, according to a new report by Reports and Data. Nematodes, a scientific term indicated for roundworms, comprises above 15,000 species. Most of the nematodes’ species which attack crops are generally microscopic. Nematodes attack the foliage, flowers, stem, and plants’ roots. They specifically attack roots, causing root knots, stunted root systems, and root lesions, resulting in declining of the plants or crops. Nematodes are immensely harmful for plants, as they attack plants to feed on them. Therefore, nematodes causing severe damage to many crops by eating the flowers, fruits, leading to decreased crop productivity. Nematicides are majorly used by farmers for killing as well as controlling nematodes.
Nematicides Market Growth:
The global nematicides market is expected to grow due to increasing demand for food security and high crop yields, as well as rising awareness of sustainable agriculture practices. The increasing adoption of precision agriculture, which involves the use of nematicides for targeted pest management, is also expected to drive market growth. However, the high cost of nematicides and the increasing demand for organic food production may act as a restraint to the market's growth.
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Top Companies: Syngenta Crop Protection AG (Switzerland), Bayer AG (Germany), Corteva Agriscience (US), Adama Agricultural Solutions Ltd (Israel), BASF SE (Germany), FMC Corporation (US), UPL Limited (India), Nufarm (Australia), and Isagro Group (Italy).
Further Key Finding from the Report Suggestion:
- Chemical nematicides accounted for the largest industry share in the year 2017, due to its growing usage in several developing countries, higher efficiency, easy availability, and reduced cost as compared to other biologicals.
- Nematicides are applied on fruits vegetables including tomatoes, potatoes, pineapples and so on. Along with providing protection from the nematodes, it also aids in increasing soil fertility.
- The biological nematicides predicted to register the fastest growth over the analysis period, because of the increasing public health and environmental concerns with the usage of chemical nematicides, soaring need for chemical residue-free products, increasing organic farming, and government support to apply biological nematicides treatment globally.
- Asia Pacific and Latin America regions are foreseen to contribute significantly to the industry growth owing to growing agriculture, and rising demand for food. Furthermore, growing awareness regarding the plant health among farmers and enhancing crops healthcare infrastructure in both of these regions are accelerating the industry growth.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Nematicides market is segmented into:
Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Others (which include active ingredients, such as acetoprole, benclothiaz, DBCP, and chitosan)
Crop type Outlook (Revenue, USD Billion, 2018 - 2028)
- Field crops
- Fruits nuts
- Others (which include plantation, turf grasses, and ornamental crops)
Form Outlook (Revenue, USD Billion, 2018 - 2028)
Mode of Application Outlook (Revenue, USD Billion, 2018 - 2028)
- Soil dressing
- Seed treatment
Nematode Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Root-knot nematode
- Others (which include lesion nematodes, stubby root nematodes, and stem nematodes)
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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