Nematicides Market to be Worth $3.97 Billion by 2031 - Exclusive Report by Meticulous Research®

Meticulous Market Research Pvt. Ltd. • 15 May 2024 - 17:01


Industry

Chemical Agriculture

Subject

Market Research Reports

REDDING, Calif., May 15, 2024 /PRNewswire/ -- According to a new market research report titled, 'Nematicides Market Size, Share, Forecast, & Trends Analysis by Type (Chemical {Fumigant}, Biological {Microbial [Bacillus sp]}, Biochemical), Form, Nematode Type (Root-knot, Cyst), Mode of Application (Seed Treatment), Crop Type — Global Forecast to 2031,' the nematicides market is projected to reach $3.97 billion by 2031, at a CAGR of 9.3% from 2024 to 2031. In terms of volume, this market is projected to reach 201,413.3 tons by 2031, at a CAGR of 8.8% during the forecast period of 2024–2031.

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Nematicides are the chemical or biological agents that are used to control or kill nematodes, which are microscopic worms that can cause damage to plants and crops. Nematicides are used to protect crops from nematode-related losses and ensure agricultural productivity. They have been used in agriculture practices in various forms for centuries. It plays a crucial role in modern agriculture by helping farmers manage nematode populations and maintain crop health and yield. The growth of this market is driven by the rising demand for organic foods, growing environmental concerns, and market players' focus on product launches and acquisitions.

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 (a part of China National Chemical Corporation/Chemchina) (Switzerland), Sumitomo Chemical Co., Ltd. (Japan), and UPL Limited (India).

The global nematicides market study presents historical market data (2022 and 2023), estimated current data (2024), and forecasts for 2031— 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. The study also evaluates industry competitors and analyzes the country-level markets.

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Key Findings in the Global Nematicides Market Study:

Among all the types studied in this report, in 2024, the chemical nematicides segment is expected to account for a larger share of 56.7% of the nematicides market. However, the biological nematicides segment is slated to register a higher CAGR of more than 15.0% during the forecast period of 2024–2031. The growth of this segment is driven by the increasing adoption of organic farming practices, growing environmental and public health concerns related to the use of chemical nematicides, high demand for chemical residue-free agricultural products, the increasing use of integrated pest management technologies and sustainable agriculture methods, and government initiatives aimed at promoting the use of biological nematicide products.

Among all the forms studied in this report, the liquid segment is expected to account for a larger share of the nematicides market in 2024. The large market share of this segment is attributed to the benefits offered by liquid nematicides, such as ease of uniform application, superior performance, extended effectiveness, and their growing significance in modern irrigation techniques such as drip irrigation and sprinkler irrigation.

Among all the nematode types studied in this report, in 2024, the root-knot nematodes segment is expected to account for the largest share of 45.4% of the 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. Moreover, the segment is also slated to register the highest CAGR during the forecast period of 2024-2031.

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Among all the modes of application studied in this report, the soil treatment segment is expected to account for the largest share of the nematicides market in 2024. The large share of this segment is mainly attributed to the benefits of soil treatment, such as preventing the spread of nematodes to non-infested areas and minimizing the risk of additional crop damage. In addition, the easy availability of nematicide products designed for soil application further contributes to the segment's large market share.

Among all the crop types studied in this report, in 2024, the cereals & grains segment is expected to account for the largest share of 41.8% of the 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.

However, the fruit & vegetables segment is slated to register the highest CAGR during the forecast period of 2024-2031. The growth of this segment is driven by the increase in fruit and vegetable production globally, the rising prevalence of nematode infestations impacting fruit and vegetable crops, and the growing demand for chemical-free organic fruits and vegetables.

Geographically, in 2024, North America is expected to account for the largest share of 34.6% of the nematicides market. The North America nematicides market is estimated to be worth USD 735.2 million in 2024. The large share of this market is primarily attributed to the rise in the demand for crops with the growing population, decreasing arable land area, the presence of major market players, the increasing adoption of precision farming techniques, the rising awareness about nematicide usage to get high-quality and high-yield crops, the growing demand for bio nematicides due to growing organic farming and the demand for organic food, and the adoption of innovative products and technologies in the agricultural industry.

The Europe nematicides market is slated to register the highest CAGR during the forecast period of 2024-2031.

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Scope of the report:

Nematicides Market Assessment—by Type

  • Chemical Nematicides
    • Organophosphates
    • Carbamates
    • Fumigants
    • Other Chemical Nematicides
  • Biological Nematicides
    • Microbial Nematicides
      • Bacillus Species
      • Paecilomyces Lilacinus
      • Other Microbial Nematicides
    • Biochemical Nematicides

Nematicides Market Assessment—by Form

  • Liquid
  • Dry

Nematicides Market Assessment—by Nematode Type

  • Root-knot Nematodes
  • Cyst Nematodes
  • Lesion Nematodes
  • Other Nematodes

Nematicides Market Assessment—by Mode of Application

  • Soil Treatment
  • Seed Treatment
  • Fumigation
  • Other Modes of Application

Nematicides Market Assessment—by Crop Type

  • Cereals & Grains
    • Maize/Corn
    • Wheat
    • Other Cereals & Grains
  • Fruits & Vegetables
  • Oilseeds & Pulses
  • Other Crops

Nematicides Market Assessment—by Geography

  • North America
    • U.S.
    • Canada
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • Thailand
    • Vietnam
    • Indonesia
    • Malaysia
    • Rest of Asia-Pacific (RoAPAC)
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile
    • Rest of Latin America (RoLATAM)
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • U.K.
    • Rest of Europe (RoE)
  • Middle East and Africa

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Related Blogs:

Rising Demand for Organic Foods is Expected to Drive the Growth of the Nematicides Market

Top 10 Companies in Nematicides Market

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