Market Research Report
Nematicides Market, By Type, By Crop, By Formulation, By Mode of Application, and By Geography - Analysis, Size, Share, Trends, & Forecast from 2021-2027
|Nematicides Market, By Type, By Crop, By Formulation, By Mode of Application, and By Geography - Analysis, Size, Share, Trends, & Forecast from 2021-2027|
Published: October 1, 2020
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Content info: 240 Pages
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By Type (Fumigants, Organophosphate, Carbamate, and Bio-based Nematicides), By Crop (Field Crops, Vegetables, Fruits, and Others), By Formulation (Liquid, Granular or Emulsifiable Liquid, and Others), By Mode of Application, and By Geography (EU, NA, APAC, LATAM, and MEA) - Analysis, Size, Share, Trends, & Forecast from 2021-2027.
The global Nematicides market was valued at USD 1.22 billion in 2019, growing with 3.1% CAGR during the forecast period, 2021-2027.
Pesticides are a crucial part of agriculture for ages as they offer crop protection to growers and they are also used in residential, commercial buildings, and complexes for preventing pests to cause damage to public health and property. Nematicides are crop protection chemicals that are used to kill or control nematode species such as threadworms, roundworms, and others. These nematode control chemicals are used as pesticides widely across the globe. The use of chemical nematodes for controlling, deterring, and killing root-knot nematodes is highest across agri-dominant countries and regions.
The Nematicides market is projected to expand at a crucial pace during the forecast period attributed to increasing infestation and attacks by nematodes on economically crucial crops which ultimately result in crop and economic loss. According to the Food and Agriculture Organization (FAO), global annual crop loss caused by nematodes invasion has been predicted to be around US$ 77 million annually.
Moreover, the rising population across the globe has contributed to amplifying the food security concerns which is ultimately encouraging farmers and growers to use chemicals and solutions to prevent crop loss. Increasing the launch of programs by the government to educate farmers about different nematode control products and their benefits, along with proliferating product launches by key industry players is expected to aid the market size during the forecast period. However, strict regulations associated with the commercialization of pesticides are predicted to impact the market negatively.
Depending upon the type, the global business is categorized into fumigants, organophosphate, Carbamate, and bio-based nematicides. Among all, the fumigants segment is anticipated to lead the global market due to their high adoption rate among farmers. The high adoption of the aforementioned nematicides is due to their potential in acting actively and delivering fast and better results on a wide range of soil varieties.
Moreover, the demand for bio-based products will witness an upsurge in demand in the forthcoming years due to rising government attention towards bringing sustainability in agriculture and promoting organic and natural crop production and protection products. Economical and eco-friendly properties of bio-based and natural nematicides are further predicted to act as a fueling factor in their market growth.
In terms of crop, the worldwide business is categorized into field crops, vegetables, fruits, and others. The application of the product in the vegetable crop is highest at present and hence this segment is the major revenue contributor in the global market. Root vegetables such as carrot, beets, potatoes, onions, etc are highly susceptible to root-knot nematode infestation and hence application of effective nematode control products is required to protect these crops.
The application of nematicides in fruit production is predicted to increase as they are economically important and high-value crops. The rising demand for fruits across western economies is motivating growers to produce high-quality fruit growers for earning higher profits.
In terms of formulations, the worldwide industry is categorized into a liquid, granular or emulsifiable liquid, and others. The liquid segment dominates the market due to its higher popularity and acceptance. The product in liquid form can be applied through various methods such as injection, drenching, and spraying. Moreover, higher convenience over other product forms and ease of application offered by liquid formulations is vouching for their strong demand growth in the coming future.
Regionally, the industry is fragmented into North America, Middle East & Africa, Asia Pacific, Latin America, and Europe. North America is projected to dominate the global market owing to escalating incidences of economically important crop loss like vegetables, corn, cotton, etc by the attack of various nematodes. The presence of prominent product manufacturing and distribution companies such as Marrone Bio Innovations and Bayer Crop Science in the U.S., along with the active participation of these companies in novel product launches will further enhance the market growth of nematicides within the region.
The Asia Pacific nematicides market is witnessing strong growth and is expected to grow with the highest CAGR during the forecast period owing to flourishing cultivation and demand for important high-value agriculture products like vegetables, fruits, and others. Favorable governmental policies for fertilizers and pesticides in major crop-producing economies of Asia will help in raising their adoption among farmers who own small as well as medium-sized farms for crop production.
The product's demand in Latin America, especially Brazil is estimated to witness sturdy growth due to the increasing utilization of crop protection chemicals such as insecticides and nematicides in the country. The launch of innovative pest control products in the country is also expected to favor the market growth positively. For instance, Agrivalle, a Brazil-based company, launched a product called "shocker" in the country in March 2019. The product is a mixture of three organisms, microbiological nematicide, and fungicide and has the potential to reduce the chances of infestation in crops.
The onset of the coronavirus pandemic brought the world together to a halt. The pandemic has affected almost all the industry including agriculture. The lockdown followed by social distancing, and trade restrictions have impacted the overall industry. However, agriculture has remained a minimally affected sector as the production of these sectors is considered essential commodities. Nematicides, which is an important crop protection product of the industry has to face certain demand and sales difficulties on account of high logistics and transport charges, and disruption in trade across major agriculture input producing countries. However, with extensive efforts of government across different economies along with efforts of key players the situation and the market is predicted to be restored in the forthcoming months.
KEY VENDOR TAKEAWA
The leading players of this industry include BASF SE, Syngenta, FMC Corporation, The Dow Chemical Company, Marrone Bio Innovations, Bayer CropScience AG, UPL Limited, Agri Life, Nufarm Limited, Isagro Group, Horizon Group, and Others.
The key players are actively adopting several strategies such as mergers & acquisitions, geographical expansion, the launch of novel products, etc. to maintain their prominence in the global market. For instance, in May 2020, Bayer Crop Science revealed the launch of a concentrated nematicide called "Velum Prime 400 SC" in Vietnam.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year - 2016 to 2018
Base Year - 2019
Estimated Year - 2020
Projected Year - 2021 to 2027
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL NEMATICIDES MARKET KEY PLAYERS
Bayer CropScience AG
The Dow Chemical Company
Marrone Bio Innovations
AGAMA Agriculture Solutions Ltd.
American Vanguard Corporation
Crop IQ Technology
GLOBAL NEMATICIDES MARKET, BY TYPE
GLOBAL NEMATICIDES MARKET, BY CROP
GLOBAL NEMATICIDES MARKET, BY FORMULATION
Granular or Emulsifiable Liquid
GLOBAL NEMATICIDES MARKET, BY MODE OF APPLICATION
GLOBAL NEMATICIDES MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
Rest of MEA
List of Tables
List of Figures