The global Nematicides Market size is estimated to be valued at USD 1.3 billion in 2020 and is projected to reach USD 1.6 billion by 2025, recording a CAGR of 3.4%. The growing demand for high-value crops, such as fruits & nuts, and vegetables, alongside the need for the adoption of sustainable farming practices, is driving the market for nematicides.
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The nematicides market has great potential due to many factors such as the effective implementation and awareness initiatives of integrated pest management practices for sustainable agriculture, regulations to encourage the research and production processes, and an increase in demand for high-value cash crops. The use of bionematicides has emerged as a promising alternative to chemical pesticides.
By type, the nematicides market is segmented into fumigants, organophosphates, carbamates, bionematicides, and others, which include active ingredients, such as acetoprole, benclothiaz, DBCP, and chitosan. Due to the growing adoption of organic farming and gradual shift toward sustainable farming practices, the market for biocontrol products such as bionematicides is growing. Across the globe, the market for pesticides has become more stringent. For instance, in Europe, the regulatory scenario for chemical nematicides is very strong as a result of which the scope for the adoption of bionematicides is higher. Due to these factors, the bionematicides would be the fastest-growing segment during the forecast period.
Based on crop type, the nematicides market is segmented into field crops, fruits & nuts, vegetables, and others, which include plantation crops, turf & grasses, and ornamental crops. The market for vegetables is growing owing to the increasing cases of nematode infestation in crops such as potatoes, tomatoes, cabbage, and carrots. The increased acreage under vegetables is also another factor contributing to the large market share held by the vegetables segment.
The growing market for biological products alongside the companies focusing on the provision of customized solutions toward specific nematode species is driving the market for nematicides. Some of the major players in the nematicides industry 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), and Chr. Hansen (Denmark) are focusing on strategies such as new product launches, expansions, acquisitions, and agreements & joint ventures to expand their global footprint in the nematicides market.
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