Nematicides Market worth $1.6 Billion by 2025, at a CAGR of 3.4%

Northbrook, USA, 2021-Sep-29 — /EPR Network/ —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.

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.

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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.

Fumigation and carbamates, by mode of application and type, are estimated to hold the largest shares in the nematicides industry, in terms of value, in 2020

Fumigation is a mode that is both cost-effective and efficient for tackling the problem of nematodes. In regions where there is a scarcity of water, such as South Africa, and mechanically advanced economies such as the US and Canada where the adoption of drip irrigation is feasible, the market for fumigation is set to grow.  There has been an increase in the adoption of non-toxic products in soils due to the growing interest in sustainable agriculture. This has aided the growth in the use of carbamates, which are relatively less toxic than fumigants.

Vegetables, by crop type, estimated to account for the largest market share, by value, in 2020

Vegetables accounted for the largest share in the nematicides market due to the increasing acreage utilized for the cultivation of vegetables. The increased international demand for fruits & vegetables is also driving the growth of the market. The major players in the market such as BASF SE (Germany), Adama Agricultural Solutions Ltd (Israel), and Syngenta (Switzerland) are introducing nematicide solutions for crops such as tomatoes, potatoes, and peas. The increasing incidences of potato-cyst nematodes and root-knot nematodes in tomatoes have also been driving the adoption of nematicides for vegetables.

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Asia Pacific is projected to grow at the highest CAGR during the forecast period

The market for nematicides is projected to grow at the highest CAGR in the Asia Pacific region owing to the growing nematode infestation in vegetables such as tomatoes, potatoes, carrots, peas, and cauliflower in the major vegetable-growing countries such as China and India. The regulatory scenario in the Asia Pacific region is comparatively more favorable for the launch of nematicides as compared to that of Europe and North America. There is also growing awareness among farmers about the use of bionematicides since the market for organic farming, and sustainable agriculture is growing with more consumers demanding organic fruits & vegetables.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the nematicides market. It consists of the profiles of leading companies such as 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), and T. Stanes & Company Limited (India).