Global Nematicides Market Size to Grow at a CAGR of 4% in the Forecast Period of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Nematicides Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4%
The rising preference for organic food items by consumers is a major factor fuelling the growth of the nematicides market. Increased purchasing power of consumers along with rising demand for high-quality food is yet another major factor propelling the growth of the market.
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Demand from the developed and developing countries is increasing rapidly owing to the advantages of nematicides such as efficiency in controlling nematode infestations and populations. This effectiveness is helping in the growth of the market. Also, nematicides are widely available which is further bolstering the market demand globally. Nematodes can cause significant agricultural losses due to which more countries are adopting nematicides for the protection of food crops and to increase food security.
Rapid increase in population is increasing the demand for natural food products thereby contributing to the growth of the nematicides market. Moreover, high value cash crops including fruits and vegetables are also observing a significant growth and are expected to further enhance the demand for nematicides.
Nematicides Industry Definition and Major Segments
Nematicides are chemical substances that are used to destroy or control plant-parasitic nematodes, threadworms, and roundworms. Among the most widely used pesticides globally, nematicides can kill nematodes in plant or soil, and are available in various formulations and application types. As they can be hazardous to humans, application needs to be done carefully.
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Based on chemical type, the market is segmented into:
On the basis of nematode type, the market is classified into:
• Root-knot Nematode
• Cyst Nematode
Based on formulation, the market is divided into:
On the basis of application, the market is categorised into:
• Grains and Cereals
• Pulses and Oilseeds
• Commercial Crops
• Fruits and Vegetables
Based on region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Nematicides Market Trends
The key trends in the global nematicides market include increasing use and demand for bio-nematicides owing their increased sustainability. Bio-nematicides also tend to have lower costs when compared to the chemical nematicides, are easier to handle, and ensure minimum contamination to the users as well as the environment. Moreover, they do not leave a residue in the soil which further enhances its use by the farmers all across the globe.
Expansion of the key players and the collaborations and joint ventures between them is expected to offer lucrative opportunities to the market. Soil dressing helps expose non-target organisms which can be done in environmentally sensitive locations. More home gardeners are utilising nematicides for their personal gardens, thereby increasing the demand for the market.
North America accounted for a large share in the nematicides market due to growing demand for food and reduced availability of arable land. Rising demand and use of nematicides is influenced by the increasing harm caused by the presence of various nematodes species. Asia Pacific is expected to observe a significant growth in the forecast period owing to the growing agricultural and agrichemical activities. Further, due to the growing population in countries such as China and India, the demand for nematicides has increased in the Asia Pacific region.
Key Market Players
The major players in the global nematicides market report are
• Bayer AG
• FMC Corporation
• ADAMA Agricultural Solution Ltd.
• Marrone Bio Innovations Inc.
• UPL Limited
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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