Nematicides Market Worth 1,344.5 Million USD By 2023

The global nematicides market will grow at a CAGR of 3.0% from 2018 to 2023 to reach USD 1,344.5 million by 2023, according to the latest publication from Meticulous Research™. The global nematicides market is primarily driven by growing need to increase crop yield and quality, growing reduction in arable land, the benefit of higher crop quality and yield with the use of nematicides, and growing organic farming and demand for organic food. However, environmental and human hazards with the use of chemical nematicides, strict government regulations on pesticides, and development of transgenic crops are the major factors restraining the growth of this market to some extent.

The global nematicides market is mainly segmented by product type (chemical and biological), by form (liquid and solid), by mode of application (fumigation, irrigation, spraying, and seed treatment), by crop type (fruits & vegetables, oilseeds, cereals & grains, and other crops), and by geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).

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Based on product type, chemical nematicides commanded the largest share in global market 2017, due to its increasing usage in developing countries, easy availability, higher efficiency, and low cost as compared to biologicals. However, the biological nematicides market is expected to witness the fastest growth during the forecast period, owing to growing environmental and public health concerns with the use of chemical nematicides, growing trend of organic farming, rising demand for chemical residue free agricultural products, and government support to use biological nematicides across the globe.

Based on the formulation, liquid form nematicides commanded the largest share in 2017 and are expected to dominate global nematicides market during the forecast period, mainly due to its ease of use & storage and better performance as compared to solid form.

On the basis of mode of application, fumigation held the largest share in the global nematicides market in 2017 and is expected to dominate this market during the forecast period. The large share of this segment is mainly attributed to its high efficacy, as they have low molecular weight and are volatile in nature, so, they can easily diffuse through the spaces between soil particles and kill the nematodes effectively.

Based on crop type, the fruits and vegetables commanded the largest share in the nematicides market in 2017, owing to the high prevalence of nematodes on fruits and vegetable crops. Apart from this, the fruits and vegetable production is increasing across the globe, which increases the demand for nematicides to control the nematicide diseases. However, the use of nematicides is expected to increase significantly for oilseeds during the forecast period, primarily due to increased cultivation area of oilseeds and growing adoption of nematicides by farmers to control the yield loss due to nematode diseases.

Geographically, this market is segmented into five regions which comprise of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the major share of the global nematicides market in 2017, followed by Europe and Latin America region. The large share of this region is primarily attributed to the availability of large arable land, increasing demand for crop yield & efficiency, and growing organic farming and demand for organic food. However, Asia Pacific region is slated to register the fastest growth during the forecast period, primarily due to the large area under agriculture cultivation, and growing population in the region which increases the use of nematicides to control the losses due to nematodes and enhance crop yield.

The key players operating in the global nematicides market are Bayer CropScience AG, BASF SE, The Dow Chemical Company, Syngenta, FMC Corporation, Sumitomo Chemical Co., Ltd., Monsanto Company, Nufarm Limited, ADAMA Agricultural Solutions Ltd., AMVAC Chemical Corporation, Brandt Consolidated, Inc., Isagro S.p.A., Marrone Bio Innovations Inc., and Certis USA L.L.C.

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About Meticulous Research™

Meticulous Research™ is one of the leading independent full service global market research and consulting companies focusing on medical devices, biotechnology, healthcare IT, pharmaceuticals, food and beverages, and agriculture domains. Meticulous Research produces global reports and custom studies for North America, Europe, Latin America, Asia-Pacific, and Middle East and Africa regions.

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AVP- Global Sales and Marketing
Meticulous Research™
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This release was published on openPR.