Global Nematicides Market Grows Steadily at a CAGR of 5.35%

Introduction

The pesticides used to reduce nematode infestation are known as nematicides. They also refer to growers' formulations and application methods to significantly boost crop yields and attain the highest level of nematode control. A reduction in fertile and arable land has, paradoxically, increased the demand for crops with high yields to satisfy global food requirements. Soil fumigation is a widely used technique for intensively treating the soil to stop the spread of root-knot nematodes in vegetable crops worldwide.

Market Dynamics

Surging Demands for High-value Crops and Customizing Pest Control Methods Drives the Global Market

The demand for high-value crops (fruits, vegetables, and plantation crops) is primarily driven by increased consumer income, rapid urbanization, and growing awareness of the health benefits of fruits and vegetables. In addition, a rise in foreign direct investment (FDI) has contributed to the production of high-value crops. Customers are reporting a high demand for new biological products such as bio nematicides to use against nematodes on standing crops. Nematodes are the cause of crop damages, which in turn reduces the overall farm yield and quality. Customers are seeing a high demand for these new biological products. The application of similar biological and alternative management products is becoming more common.

Regional Analysis

North America is the largest shareholder and is anticipated to dominate the global nematicides market. Significant players such as Bayer Crop Science AG, Marrone Bio Innovations, and The Dow Chemical Company in the United States are likely to stimulate market growth in the region.

Key Highlights

• The global nematicides market was valued at USD 1.56 billion in 2021. It is projected to reach USD 2.49 billion by 2030, growing at a CAGR of 5.35% during the forecast period (2022–2030).
• Based on type, the market is divided into fumigants, organophosphate, carbamate, and bio-based nematicides. The fumigants segment held the largest share in the global nematicides market.
• Based on crop, the market is categorized into vegetables, field crops, fruits, and others. The vegetable segment dominates the market.
• Based on formulation, the market is categorized into liquid, granular/emulsifiable liquid, and others. The liquid formulation segment has the largest revenue share and is projected to expand rapidly during the forecast period.
• North America is the largest market, and it is anticipated to dominate the global market due to the phase-out and restrictions of hazardous and older solutions, as well as the intensive research conducted by leading market players to develop sustainable and effective nematode control.

Competitive Players

Competitive Analysis

The global nematicides market’s major vital players are:

• BASF SE 
• Bayer Crop Science AG 
• FMC Corporation 
• The Dow Chemical Company 
• Syngenta 
• ADAMA Agricultural Solution Ltd. 
• Nufarm Limited 
• Marrone Bio Innovations 
• American Vanguard Corporation 
• UPL Limited 

Recent Developments

Market News

• February 2022- Bayer Received EPA Approval for Prosaro® PRO 400 SC Fungicide. Bayer introduced the next generation of Prosaro® Fungicide for cereal growers, featuring enhanced disease control, more significant DON reduction, and higher yield potential.
• March 2022- Bayer Announced New TriVolt™ Corn Herbicide Following EPA Registration. Bayer announced that the EPA had registered TriVolt™ Herbicide. As a new selective corn herbicide from Bayer, TriVolt brings built-in resistance management and consistently high levels of weed control for corn growers. This product is still pending certain state approvals.
• June 2022- FMC Corporation unveiled a new Plant Health business brand identity, 'Biologicals by FMC,' reflecting the company's commitment to biological crop protection. FMC Corporation (NYSE: FMC), a global leader in agricultural sciences, has launched a new brand identity for its Plant Health business to reflect the company's continued growth and expansion of its biological platform. Agricultural biologicals are a diverse group of crop protection and stimulant products derived from living organisms and organic compounds. Biologicals by FMC exemplifies FMC's commitment to providing farmers with biological solutions backed by science to help manage crops sustainably, protect yields and combat resistance.

Segmentation

Global Nematicides Market: Segmentation

By Type

• Fumigants
• Organophosphate
• Carbamate
• Bio-based Nematicides

By Crop

• Vegetables
• Field Crops
• Fruits
• Other

By Formulation

• Liquid
• Granular/Emulsifiable Liquid
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• South America