Nematicides Market

The global Nematicides Market was valued at USD 1.8 Billion in 2022 and is projected to reach a value of USD 2.4 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 4.8% between 2023 and 2030.

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Chemical substances called Nematicides manage parasitic worms like threadworms and roundworms. They are among the most widely used pesticides on the planet and have been used for ages in various forms. Nematicides are normally administered equally across a field. The global Nematicides market is expected to expand at a significant CAGR during the forecast period. Contrarily, a decrease in fertile and arable land has raised the need for crops with large yields to meet global food demands. To effectively treat the soil and prevent the development of root-knot nematodes in vegetable crops worldwide, soil fumigation is a frequently utilized approach. Halogen substances and other fumigants are applied more quickly than organophosphate and carbamate.

Increased consumer affluence, rapid urbanization, and expanding knowledge of the health advantages of fruits and vegetables are the main factors driving the demand for high-value crops (fruits, vegetables, and plantation crops). Increased foreign direct investment (FDI) has also aided the cultivation of high-value crops. Because they improve crop quality and productivity, nematodes are most in demand in high-value crops, including pome fruits, grapes, cotton, tomato, maize, cotton, and other vegetable and decorative crops. Crop damage is brought on by nematodes, lowering total farm productivity and quality. These novel biological goods are in great demand among consumers. Similar biological and alternative management agents are being used increasingly frequently.

Key players' increased investment in R&D has helped the market growth due to their increased focus on creating novel and new crop protection solutions. For instance, Syngenta unveiled the TYMIRIUM technology platform brand in May 2020. Nematocides and fungicides were developed using cutting-edge technology for seed and soil treatments. Syngenta's investment in cutting-edge technologies, like TYMIRIUM, underlines its dedication to giving farmers access to resources that enable them to enhance production sustainably. The need for high-yielding crops to meet the world's food needs has inversely increased in response to a decline in fertile and arable land. Due to the need to increase crop protection and enhance the yield quality from short crops, this factor has significantly increased demand for Nematicides. The expansion of the global bio-Nematicides market has also been aided by government funding supporting the development of bio-Nematicides as an alternative to traditional synthetic pesticides.

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A significant portion of the world's economy is expected to be experiencing a recession in the near future, according to the forecasts of the majority of financial analysts and economists. On the other hand, we estimate that the global downturn will become much more severe as 2022 comes to a close and 2023 gets underway. Studies have revealed that a recession hit the United States during the first half of 2022, which is not surprising considering how competitive the labour market is. The protracted war between Russia and Ukraine has made it less likely that many nations would see a post-pandemic economic rebound. This is the case in a number of countries. It is projected that the bulk of this monetary burden will be shouldered by the economies of industrialised and emerging nations located in Europe and Central Asia. The global economy will continue to be impacted by swings in the price of energy, which will ultimately lead to a slowdown in economic activity throughout the year 2023. Russia is expected to step up its invasion of Ukraine in the coming days.

Top Market Trends

1. Rising Demand for Sustainable Agri-Input Products: Growing environmental concerns and health issues brought on by synthetic agricultural inputs have increased demand for sustainable agricultural inputs like bio-based Nematicides. To lessen the total impact on people and the environment, organic farming is gradually replacing conventional farming. During the projection period, the future growth of bio-based crop protection chemicals will benefit from organic farming's favorable growth trajectory. Furthermore, well-known industry producers are concentrating on obtaining regulatory filings for bionematicide goods to satisfy consumer and grower demand for sustainable agricultural solutions.

2. Increasing Concerns by Government Agencies: Nematicides market expansion is anticipated to expand by worries about the negative impacts of insecticides and associated health and environmental deterioration concerns. It is also projected that various environmental laws implemented by the National Institute of Environmental Health Sciences (NIEHS) and the Environment Protection Agency (EPA) will impede the growth of the pesticide market. Over the projected period, increased development of transgenic crops is also anticipated to reduce harm to the market.

3. Extensive Research and Development: Recent years have also seen an increase in the popularity of biological Nematicides, mostly due to the global adoption of integrated pest management (IPM) strategies and sustainable farming practices. According to empirical observations, a key element of environmentally friendly IPM systems, bio-Nematicides function in synergy with other agricultural inputs. For instance, according to a 2017 study in the Journal of the International Organization for Biological Control, the marketing of bio-Nematicides in the United States has seen several changes in recent years. Pasteuria species and Purpureocillium lilacinus have been the subject of extensive inquiry as potential Nematicides.

Market Segmentation

The global Nematicides market can be categorized into the following: Type, Formulation, Nematode Type, and Region. Based on Type, the market can be categorized into Chemical and Biological. Additionally, based on Formulation, the market can be further split into Granular, Liquid, and Other Formulation. Moreover, based on Nematode Type, the market can be differentiated between Root-Knot Nematodes, Cyst Nematodes, Lesion Nematodes, And Other Nematodes Types (Stubby-Root Nematodes & Stem Nematodes). Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Type

Chemical Nematicides to Account for the Largest Market Share owing to Higher Effectiveness

The chemical segment will dominate the global Nematicides market during the forecast period. Broad-spectrum Nematicides, known as chemical Nematicides, release their active ingredient as a gas through the soil. Because they are neither absorbed by plants nor bound by soil, fumigants have a shorter window of residual pesticidal activity than organophosphate and carbamate. Biological Nematicides are expected to grow with the fastest-growing CAGR during the forecast period. It is anticipated that the rising acceptance and popularity of bio-based nematocide products will support market expansion. Bio-based nematicide products are anticipated to rise in the next years since they are projected to be more cost-effective and environmentally friendly than chemical-based alternatives.

Based on Formulation

Liquid Formulation to Demand Largest Revenue owing to Ease of Convenience

The liquid formulation will dominate the global Nematicides market during the forecast period. Due to the ease of use, convenience, and desire to prevent product waste or spoiling from contamination, farmers have a high demand for liquid nematicide products. The granular formulation is expected to grow with the fastest-growing CAGR during the forecast period. Due to the product's relatively long shelf life, convenient storage, and transportation, farmers are also becoming more interested in the granular formulation.

Based on Region

North America to Lead Global Sales owing to Shrinking Need of Arable Land

The global Nematicides market is expected to be dominated by the region of North America during the forecast period. The primary factors driving growth in the North American market are the increasing need to boost agricultural yield and quality, the shrinking amount of arable land, and consumer awareness of product applications to obtain the high-quality output. Growing organic farming and seeking organic food increase the demand for bioNematicides. The phase-out and limitations of risky and outdated solutions and the extensive research by top industry players to build long-lasting and efficient alternative control will drive regional growth. Prominent players like The Dow Chemical Company, Marrone Bio Innovations, and Bayer Crop Science AG in the US are projected to foster market expansion in the area.

The Asia Pacific will grow with the fastest-growing CAGR during the forecast period. Due to the expanding growth of high-value crops, including vegetables and fruits, the demand for nematode control products in Asia is anticipated to remain positive. As a result, many well-known market companies active in the international market are growing their operations there. As an illustration, Bayer Crop Science AG announced the introduction of nematicide for Australia in 2019. The solution will aid farmers in nematode control on plants.

Competitive Landscape

The enormous expansion in cultivating high-value crops, such as fruits and vegetables, is anticipated to accelerate the demand for nematode control solutions. The increasing demand draws major players for this product to broaden their product lines and distribution channels to expand their market share and clientele. New product creation and mergers and acquisitions are two essential tactics big firms use to compete in the global market.

The key players in the global Nematicides market include - Syngenta Crop Protection AG (U.S.), Bionema (UK), Vegalab SA (U.S.), STK bio-ag technologies (Mexico), Andermatt Biocontrol AG (Switzerland), Koppert Biological Systems (EU), Corteva (U.S.), Bayer AG (Germany), Biobest Group NV (Belgium), Certis USA LLC (U.S.), Valent BioSciences LLC (U.S.), Novozymes (Denmark), BASF SE (U.S.), IPL Biologicals Limited (India), Terramera Inc. (Canada), Khandelwal Bio Fertilizer (India), Isagro (Italy), Gowan Company (U.S.), Parry America Inc. (U.S.), Barrix Agro Sciences Pvt. Ltd. (India), BioWorks Inc. (U.S.), Marrone Bio Innovations (U.S.), FMC Corporation (U.S.), UPL (India), Nufarm (Canada), Bioline AgriSciences Ltd. (UK), Biofa GmbH (Germany), BioConsortia Inc. (U.S.), McLaughlin Gormley King Company (U.S.), W. Neudorff GmbH KG (Germany) among others.

Recent Market Developments

· January 2022: Two novel Nematicides for corn and other food crops were released by BioConsortia Inc. The new chemicals boost crop production while controlling nematode pests.

· March 2022: Following its successful field testing on maize and other significant crops, BioConsortia, Inc., a U.S.-based agricultural R&D business, announced the creation and registration of two novel Nematicides. The new product enhances crop production while controlling nematodes.

· January 2022: Votivo Prime, a new bionematicide from BASF SE, was introduced in Brazil. Bacillus Firmus, which strengthens the root system and reduces pressures on soybeans, rice, wheat, corn, and cotton, is the basis for the bionematicide. The product is safe to use when combined with other biological pesticides and chemicals.

Segmentation of the Global Nematicides Market