Nematicide Market worth $3.0 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 18, 2022 /PRNewswire/ -- The nematicide market is estimated to be valued at USD 1.9 billion in 2022. It is projected to reach USD 3.0 billion by 2027, recording a CAGR of 9.9 % during the forecast period according to a new report by MarketsandMarkets™. The nematicide market has been influenced by some of the macro indicators witnessed across the globe. The food prices have been a significant issue owing to the shortage in the supply of agricultural products across different countries, such as Ghana in west Africa, Nepal in south Asia, United Kingdom which gets very little contribution from its agricultural activities to its GDP. This has increased the necessity to identify different effective ways to increase crop yield, of which one has been the usage of crop protection chemicals, which act as indicators in demand for nematicides. This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. With the rise in global pesticide consumption and increasing foreign direct investments in agricultural activities, the trend of investing in R&D activities to sustainable agriculture techniques has significantly boosted the use of various nematicides in the agriculture industry.

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BASF SE offers a wide range of crop products and solutions in agriculture, nutrition & care in the North American market.

The market for nematicides is growing in North America, owing to the widening scope of applications in the agricultural sector for adoption in field, vegetable, and fruit crops. Some of the majorly grown crops in the region include cotton, soybean, tomatoes, grapes, corn, pome fruits, and stone fruits. These crops are prone to attack from major nematode types such as root-knot, potato-cyst nematodes, and lesion nematodes, among others. High acreages under field crops such as soybean, corn, and cotton and increasing case of infestation by nematodes on these crops in the US and Mexico are driving the growth of nematicide application in field crops. Key players in the region are Corteva agriscience (US), American Vanguard corporation (US), FMC Corporation (US).

The biological segment is the fastest growing in the market, owing to the increase in awareness among growers and farmers about the adoption of sustainable agricultural practices.

Biological crop protection solutions are derived from a variety of microorganisms. They may contain microorganisms, the metabolites they produce, or a combination of the two. They can be natural, alive, dead, or even genetically engineered. Biocontrol solutions based on microorganisms and their products have proven to be more effective and environmentally friendly than synthetic crop protection solutions, leading to their widespread adoption in biocontrol strategies across the globe.

Bionematicides are biological crop protection solutions against nematode infestation in plants. Bionematicides are broadly classified as microbial and biochemical. Key companies like Bayer AG, Syngenta AG, BASF SE, FMC corporation, and UPL Ltd. have microbial-based bionematicides in their nematode management product portfolio. Startups and SMEs like Crop IQ technology Ltd. and Bio Huma Netics, Inc. are focusing on developing biochemical based bionematicides. For instance, Bio Huma netics's Fertilgold Organics liquid products which are powered by Micro Carbon Technology, a carbon-based nutrient carrier that improves nutrient uptake effectiveness—getting more nutrients into the plants faster than other fertilizers.

Lower costs involved in the use of fumigation propelling the growth of the market 

Soil fumigation is a process of pre-treatment of the soil and is highly effective in controlling the nematode population. It is a phytotoxic procedure that must be applied at least one month before seeding or transplanting. Fumigation with nematocidal action is very volatile because it evaporates in the gaseous state and fills the soil's empty spaces when applied to the soil. Some of the most used fumigants, which aid in the control of nematodes, include methyl iodide, propargyl bromide, 1, 3-dichloropropene, chloropicrin, and calcium cyanamide. Before fumigation is undertaken, the soil is tilled to improve the porosity and uniformity of distribution. Further, the fumigants are injected into the upper layers of the soil with the help of shanks or chisels. The fumigants must be injected deep into the soil to prevent the escape of fumigants into the surrounding air.

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North America is projected to reach USD 0.91 Billion during the forecast period.

In 2021, North America accounted for a market share of 31.60 % in the global nematicide market. With the rising disposable income among the consumers in the US and Mexico, the shift toward the use of recreational services is higher, as a result of which the demand for planting turf & grasses in amusement parks, shopping malls, and residential areas have increased. Turf & grasses are majorly affected by lesion and root-knot nematodes, due to which they stop responding to irrigation. Likewise, the growing international and domestic demand for fruits, vegetables, and field crops alongside the strong focus on the adoption of organic farming is driving the market for bionematicides in the region.

The key players in this market include Corteva Agriscience (US), FMC Corporation (US), American Vanguard corporation (US).

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Related Reports:

Biopesticides Market by Type (Bioinsecticides, Biofungicides, Bionematicides, and Bioherbicides), Source (Microbials, Biochemicals, and Beneficial Insects), Mode of Application, Formulation (Dry, Liquid), Crop Type and Region (2022-2027)

Agricultural Biologicals Market by Function, Product Type (Microbials, Macrobials, Semiochemicals, Natural products), Mode of Application (Foliar Spray, Soil and Seed treatment), Crop Type and Region (2022-2027)

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