Nematicides
Market - A Growth Story
The
nematicides market was valued at USD 2,039.95 million in 2023 and is projected
to reach USD 4,020.69 million by 2032, exhibiting a compound annual growth rate
(CAGR) of 7.83% during the forecast period. This growth is attributed to
several factors, including:
- Rising Demand for High-Quality Food: Consumers are increasingly aware of
the health and environmental benefits of high-value crops and organic
agriculture, leading to a higher demand for nematicides to protect crops
from yield-reducing nematodes.
- Need to Protect Crops from Nematodes: Nematodes can significantly damage
crops by feeding on their roots, reducing plant health and leading to crop
failure. Nematicides help farmers protect their crops and improve yields.
- Shift Towards Sustainable Practices: The trend towards using natural and
organic compounds for nematode control is driving the development of new
and innovative bio-based nematicides that are safer for applicators and
the environment.
Market
Segmentation
The
nematicides market is segmented based on product
type, form, crop type, and mode of application.
- Product Type: Carbamates hold the majority share
due to their effectiveness against various nematodes. However, the demand
for bio-based nematicides like those from BASF (Votivo Prime) and Bayer
(Velum Prime) is rising due to their lower environmental impact.
- Form: The liquid segment dominates the market due to its ease of
application. Chloropicrin, a fumigant nematicide, is an example of a
liquid nematicide used for pre-plant soil treatment.
- Crop Type: Fruits & vegetables hold the
largest share due to their high value and susceptibility to nematode
damage. The rising demand for organic fruits and vegetables is further
driving the nematicide market in this segment.
- Mode of Application: Soil treatment is the dominant mode
due to its effectiveness in controlling nematodes in the soil. However,
seed treatment with nematicides is gaining traction as a preventive
measure.
Regional
Analysis
The
North American nematicides market currently holds the largest share due to
factors like high agricultural productivity and stringent regulations on
hazardous chemicals. However, the Asia-Pacific region is expected to witness
the fastest growth due to the increasing demand for food and the growing
adoption of bio-based nematicides.
Key
Players and Developments
Major
players in the nematicides market include BASF SE, Bayer AG, Syngenta AG, UPL
Ltd, Ishihara Sangyo Kaisha Ltd, Valent BioSciences LLC, and others. These
companies are actively involved in research & development to develop new
and effective nematicides while focusing on sustainability. Some recent
industry developments include:
- Acquisitions: Syngenta acquired NemaTrident and
UniSpore bioinsecticides from Bionema Limited to expand its product
portfolio.
- Product Launches: UPL launched new insecticides to
protect rice yields, and BASF introduced Lumialzam, a biological
nematicide for seed treatment.
- Strategic Partnerships: Bayer partnered with Ginkgo
Bioworks to develop biological solutions for agriculture, including
next-generation crop protection.
Future
Outlook
The
nematicides market is expected to continue growing steadily due to the rising
demand for food security, increasing awareness of sustainable practices, and
ongoing research & development efforts. The development of more effective
and eco-friendlier nematicides will be crucial for the future growth of this
market.
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