Nematicides Market Projected to Reach $3.58 Billion by 2030, at a CAGR of 8.9%

[Redding, California, February 26, 2024] - The global nematicides market is poised for remarkable growth, with projections indicating a substantial rise to $3.58 billion by 2030, showcasing a compelling Compound Annual Growth Rate (CAGR) of 8.9%. Meticulous Research®, a leading market intelligence provider, unveils key insights into the factors propelling this growth trajectory and the critical market dynamics at play.

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Market Dynamics
The escalating demand for organic foods coupled with burgeoning environmental concerns serves as a primary driver for the nematicides market's ascent. Market players are intensifying their focus on strategic product launches and acquisitions, further fueling market expansion. Despite these positive indicators, challenges such as limited awareness and adoption of bionematicides, alongside stringent regulatory frameworks, pose hurdles to market growth. However, burgeoning opportunities in emerging markets across Asia-Pacific and Latin America, coupled with the increasing adoption of biological seed treatments, promise avenues for sustained growth.

Market Outlook
The latest report by Meticulous Research® underscores the market's promising trajectory, forecasting a value of $3.58 billion by 2030, with an accompanying volume projection of 182,932.2 tons, at a CAGR of 8.5% from 2023 to 2030.

Key Players
Leading players in the global nematicides market landscape include American Vanguard Corporation, BASF SE, Bayer AG, Biobest Group NV, Corteva, Inc., FMC Corporation, Gowan Company, LLC., Nufarm Limited, Pro Farm Group Inc., Syngenta AG, Sumitomo Chemical Co., Ltd., and UPL Limited.

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Based on type, the global nematicides market is segmented into chemical nematicides (organophosphates, carbamates, fumigants, and other chemical nematicides) and biological nematicides (microbial nematicides {bacillus species, paecilomyces lilacinus, and other microbial nematicides} and biochemical nematicides). In 2023, the chemical nematicides segment is expected to account for a larger share of the global nematicides market. The large market share of this segment is attributed to the rising global food demand, the need for high crop yields, the increase in nematode infestation in crops, and the demonstrated efficacy of nematicides in controlling these pests.

However, the biological nematicides segment is slated to register a higher CAGR during the forecast period of 2023-2030. 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.

Based on form, the global nematicides market is segmented into liquid and dry. In 2023, the liquid segment is expected to account for a larger share of the nematicides market. 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. Moreover, this segment is projected to register a higher CAGR during the forecast period of 2023-2030 due to the lower dosage requirement of liquid nematicides compared to fumigant nematicides (typically requiring only a few kilograms of active ingredients per hectare) and their straightforward application without the need for specialized equipment.

Based on nematode type, the global nematicides market is segmented into root-knot nematodes, cyst nematodes, lesion nematodes, and other nematodes. In 2023, the root-knot nematodes segment is expected to account for the largest share of the global 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 slated to register the highest CAGR during the forecast period of 2023-2030. The growth of this segment is driven by advancements in nematicide formulations and increasing awareness about the benefits of using nematicides.

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Based on mode of application, the global nematicides market is segmented into soil treatment, seed treatment, fumigation, and other modes of application. In 2023, the soil treatment segment is expected to account for the largest share of the global nematicides market. 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. Additionally, the easy availability of nematicide products designed for soil application further contributes to the segment's large market share.

However, the seed treatment segment is slated to register the highest CAGR during the forecast period of 2023-2030. The growth of this segment is driven by the growing demand for nematicides to control nematode infestation in seeds. Furthermore, advancements in seed treatment technologies and the growing awareness regarding the benefits offered by seed treatment are expected to drive the growth of this segment during the forecast period 2023-2030.

Based on crop type, the global nematicides market is segmented into cereals & grains (maize/corn, wheat, and other cereals & grains), fruits & vegetables, oilseeds & pulses, and other crops. In 2023, the cereals & grains segment is expected to account for the largest share of the global 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 fruits & vegetables segment is slated to register the highest CAGR during the forecast period of 2023-2030. 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.

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Geographical Insights
North America currently commands the largest share of the global nematicides market, driven by factors such as population growth, decreasing arable land, and the adoption of precision farming techniques. However, Europe is poised to register the highest CAGR during the forecast period, buoyed by advances in farming practices, increasing government initiatives, and a growing focus on organic farming.

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