Oct 6, 2020   SOURCE: BusinessWire

Nematicides Market by Type, Mode of Application, Nematode Type, Crop Type, Form, and Region - Global Forecast to 2025 - ResearchAndMarkets.com

The "Nematicides Market by Type (Fumigants, Carbamates, Organophosphates, Bionematicides), Mode of Application (Fumigation, Drenching, Soil Dressing, Seed Treatment), Nematode Type (Root Knot, Cyst), Crop Type, Form, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global nematicides market size is projected to reach USD 1.6 Billion by 2025, recording a CAGR of 3.4%

The usage of biologicals and the provision of customized solutions targeted toward specific pests are some of the opportunities in the nematicides market. The adoption of nematicides has gained huge market share in the last few years due to the increased infestation of nematodes affecting the growth of the plants.

The growth in population and consequent increase in demand for food has led to conventional agriculture is highly dependent on chemicals for pest control and elimination. But the rise in concerns of consumers and governments about food safety and depletion ozone levels has led to growers exploring new environment-friendly methods to replace or at least supplement the current chemical-based practices. The use of bionematicides has emerged as a promising alternative to chemical pesticides. Nematicides has become a significant part of the increasing crop protection industry. These factors are projected to drive the growth of the market in the next few years.

The recent COVID-19 pandemic is expected to impact the global nematicides industry. The supply chain has been disrupted due to the result of government imposition of lockdown across many regions. This has reduced many stakeholders involved in the supply chain from taking the products to the destined place. The demand is relatively stable, but the limited supply to the distributors or retailers is stopping the product to reach out to the farmers. The labor shortage and reduce the supply of raw materials is a major issue due to the restrictions on the movement of people or vehicles. However, many companies have piled up stocks enough for the most part of the year. But if the lockdown continues, it might affect the delivery of goods, ultimately leading to loss of revenue for the companies. However, many companies are managing to run the sales despite imposed restrictions and are focusing to cope up in the coming quarters.

Vegetables: The largest growing segment in the nematicides market, by nematicides crop type.

Vegetables accounted for the largest share in the nematicides market in 2019. This is attributed to the increasing acreage being brought under vegetables. Countries such as India and China, being the major producers of vegetable crops across the globe, contribute to the growing domestic and international demand for vegetables. The various products offered by major players also cater to nematode management in vegetable crops.

Granular: The largest growing segment in the nematicides market, by nematicides form.

By form, the market for nematicides is segmented into granular and liquid. The granular segment is estimated to hold a larger share owing to the ease of applicability and economic viability. Companies such as BASF SE (Germany) and Syngenta Crop Protection AG (Switzerland) cater to the growing demand for nematicides in the granular form. This high availability in the granular form catering to crops such as cotton, soybean, and fruits & vegetables drives the growth for the granular form of nematicides.

North America: The largest-growing segment in the nematicides market.

In 2019, North America accounted for the largest share in the nematicides market owing to the increasing number of product launches from major players in the market, such as Bayer AG (Germany), Nufarm (Australia), and Valent BioSciences (US). The adoption of organic farming and sustainable agricultural practices has also increased the use of bionematicides. Major crops grown in the region such as soybean, corn, and cotton are attacked by soybean-cyst nematodes, root-knot nematodes, and lesion nematodes. The growing international demand for crops has increased the demand for nematicides in the region from countries such as the US, Canada, and Mexico.

Market Dynamics

Drivers

  • Strong Demand for High-Value Crops
  • Crop Losses Due to Pest Attacks
  • Advancements in Farming Practices and Technology

Restraints

  • Pesticide Residue Problems

Opportunities

  • The Usage of Biologicals to Gain Traction in the Market
  • Providing Customized Solutions Targeted Toward Specific Pests

Challenges

  • Lack of Awareness and Low Utilization of Biologicals
  • Evolution of Biotechnology and Increasing Acceptance of Gm Crops As An Alternative to Crop Protection Chemicals

Companies Profiled

  • BASF SE
  • Isagro S.P.A
  • Corteva Agriscience
  • Syngenta Ag
  • Bayer Ag
  • UPL
  • American Vanguard Corporation
  • Nufarm
  • Fmc Corporation
  • CHR Hansen
  • Adama Agricultural Solutions Ltd.
  • Marrone Bio Innovations
  • Valent USA
  • Certis USA L.L.C
  • T. Stanes & Company Limited
  • Agri Life
  • Bio Huma Netics, Inc
  • Real Ipm Kenya
  • Horizon Group
  • Crop Iq Technology Ltd

For more information about this report visit https://www.researchandmarkets.com/r/ths7lz