The global nematicides market was valued at USD 1.60 billion in 2023 and is projected to grow from USD 1.66 billion in 2024 to USD 2.54 billion by 2032, with a compound annual growth rate (CAGR) of 5.50% during the forecast period.
This information is detailed in the report titled “Nematicides Market, 2024-2032” by Fortune Business Insights. The report highlights that the market growth is driven by the increasing acceptance and appreciation of nematicides among growers in both emerging and established countries.
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Segments:
By type, the market is segregated into fumigants, organophosphate, carbamate, and bio-based nematicides. Based on crop, the global market is segmented into vegetables, field crops, fruits, and others. On the basis of formulation, the market is classified into liquid, granular/emulsifiable liquid, and others. Geographically, the global market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa
Report Coverage:
The report provides a thorough analysis of the nematicides market, including current trends and future projections to pinpoint potential investment opportunities. It offers an in-depth review of upcoming opportunities, threats, competitive dynamics, and key driving factors. The report also examines regional dynamics and the impact of COVID-19 to help investors and business professionals understand associated risks. Additionally, it identifies major market players and outlines their strategies for enhancing market growth.
Driving Factors:
Ever-growing Demand for Food to Carry Vital Part in Nematicides Market Growth
The growing focus on food safety and sustainability is driving increased demand for food products, with agriculture playing a crucial role in addressing these needs. Emerging nations in the Asia Pacific region are expected to significantly contribute to the global rise in cereal demand due to rapid urbanization and economic growth. However, crop production often suffers from yield losses caused by pests and pathogens. Consequently, farmers are increasingly turning to nematicides to enhance both the quality and quantity of their yields.
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Regional Insights:
North America to Lead Backed by Augmented Usage of Product in the Region
In 2021, North America held the largest share of the nematicides market, valued at USD 510.86 million. The region remains a leading market for nematode control products and is expected to retain a significant share of the global market in the coming years.
In the Asia Pacific region, the demand for nematode control products is projected to remain strong due to the increasing cultivation of high-value crops such as fruits and vegetables. As a result, many major market players are expanding their operations in the region.
South America is also witnessing rising demand for crop protection solutions, driven by growing yield losses. The escalation of nematode infestations affecting key crops like soybeans, maize, vegetables, and coffee presents significant threats to yield quantity and quality, impacting farmers’ profitability.
Competitive Landscape:
Critical Business-related Proclamations by Prime Companies to Impact Market
Key companies in the nematicides market frequently engage in strategic activities that significantly influence the industry. These actions include acquiring other companies, launching new products, forming partnerships, and entering into agreements with government entities. The impact of these moves on the market can vary, producing either positive or negative effects depending on the nature and scope of the strategies implemented.
Key Industry Development:
March 2022: BioConsortia, Inc., a U.S.-based agricultural R&D corporation, has announced the advancement and registration of two new nematicides following successful field trials on corn and other major crops. These new products are designed to control nematodes and enhance crop yields.
List of Key Players Mentioned in the Report:
- Bayer AG (Germany)
- UPL Limited (India)
- FMC Corporation (U.S.)
- Corteva Agriscience (U.S.)
- Syngenta (Switzerland)
- BASF SE (Germany)
- Sumitomo Chemical Co., Ltd. (Japan)
- Nufarm Limited (Australia)
- Marrone Bio Innovations (U.S.)
- American Vanguard Corporation (U.S.)
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