Nematicides Market Drivers, Restraints, Opportunities & Challenges

The global nematicides market size is estimated to account for a value of USD 1.3 billion in 2020 and is projected to grow at a CAGR of 3.4% from 2020, to reach a value of USD 1.6 billion by 2025. The growing demand for high-value crops alongside the increasing infestation of nematodes on crops are some of the factors driving the growth in the market.

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Driver: Strong demand for high-value crops

High-value agricultural products are generally defined as agricultural products with a high economic value per kilogram (or pound), per hectare, or per calorie, which includes fruits, vegetables, meat, eggs, milk, and fishes. The key factors driving the demand for high-value crops (fruits, vegetables, and plantation crops) are the rise in the income of consumers, rapid urbanization, and the increase in awareness about health benefits associated with fruits & vegetables. Besides, an increase in foreign direct investment (FDI) has led to a surge in the production of high-value crops. The demand for nematodes is mostly found in high-value crops, such as pome fruits, grapes, cotton, tomato, maize, cotton, and other vegetable and ornamental crops, as they improve the crop quality and yield.

Constraint: Pesticide residue problems

One key restraint in the crop protection chemicals market is the pesticide residue problem due to the non-judicious use of pesticides by the farmers. Pesticide residue problems are highly found in the crops grown in developing or under-developed countries. Countries such as Vietnam, Ghana, and the Philippines are known for such low-quality crop production, affected by pesticide residues. Though intensive farming is inevitable without the use of pesticides, farmers in developing countries tend to use excess pesticides, which then damage the crops. Thus, improper use and illegal import-export of pesticides, and lack of proper government regulations have resulted in pesticide residue issues and excessive application of toxic pesticides, thereby hindering the growth of the crop protection chemicals market.

Opportunity: Providing customized solutions targeted toward specific pests

With the growing environmental and pollution concerns and health hazards from many conventional agrochemicals, the demand for natural biologicals is rising steadily across regions. Customers are witnessing a high demand for new biological products such as bionematicides to use against nematodes on standing crops, which cause crop damages, thereby reducing the overall farm yield and quality. The use of biologicals and related alternative management products is increasing. R&D teams of major global players are also engaged in discovering target-specific innovative products by using biological insecticides, which promote organic agriculture.

Challenge: Lack of awareness and low utilization of biologicals

Awareness about biologicals, such as bionematicides among farmers, is very low. Farmers are not aware of the method of use and the cost-effective benefits of these crop protection products. In developing countries, they are not aware of integrated pest management (IPM) solutions. As the market is highly fragmented at the regional level, awareness regarding various brands is low. Despite considerable efforts by agronomists, agricultural universities, companies, and governments across the globe in recent years, the majority of the farmers are unaware of biological products and their benefits in increasing cost-yield sustainability.

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Some of the major players operating in the market include Bayer AG (Germany), Syngenta Crop Protection AG (Switzerland), Corteva Agriscience (US), BASF SE (Germany), Adama Agricultural Solutions Ltd (Israel), FMC Corporation (US), Nufarm (Australia), UPL Limited (India), Isagro Group (Italy), Valent USA (US), Chr. Hansen (Denmark), Certis USA LLC (US), Marrone Bio Innovations (US), American Vanguard Corporation (US), Crop IQ Technology (UK), Real IPM Kenya (Kenya), Horizon Group (India), Agri Life (India), Crop IQ Technology Ltd (UK), and T. Stanes & Company Limited (India).

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