The Global Nematicides Market will grow at a CAGR of 3.0% from 2018 to 2023 to reach USD 1,344.5 million by a 2023, according to the latest publication from Meticulous Research®. The global nematicides market is primarily driven by growing need to increase crop yield and quality, growing reduction in arable land, the benefit of higher crop quality and yield with the use of nematicides, and growing organic farming and demand for organic food. However, environmental and human hazards with the use of chemical nematicides, strict government regulations on pesticides, and development of transgenic crops are the major factors restraining the growth of this market to some extent.
The global nematicides market is mainly segmented by product type (chemical and biological), by form (liquid and solid), by mode of application (fumigation, irrigation, spraying, and seed treatment), by crop type (fruits & vegetables, oilseeds, cereals & grains, and other crops), and by geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
Regional Market Growth Trends
Geographically, this market is segmented into five regions which comprise of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the major share of the global nematicides market in 2017, followed by Europe and Latin America region. The large share of this region is primarily attributed to the availability of large arable land, increasing demand for crop yield & efficiency, and growing organic farming and demand for organic food. However, Asia Pacific region is slated to register the fastest growth during the forecast period, primarily due to the large area under agriculture cultivation, and growing population in the region which increases the use of nematicides to control the losses due to nematodes and enhance crop yield.
The key players operating in the global nematicides market are Bayer CropScience AG, BASF SE, The Dow Chemical Company, Syngenta, FMC Corporation, Sumitomo Chemical Co., Ltd., Monsanto Company, Nufarm Limited, ADAMA Agricultural Solutions Ltd., AMVAC Chemical Corporation, Brandt Consolidated, Inc., Isagro S.p.A., Marrone Bio Innovations Inc., and Certis USA L.L.C.
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