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Nematicides Market Growth Projections and Opportunities
The global nematicides market is expected to see significant growth over the review period, showing an annual growth rate of 7.83%. In 2022, the market was valued at USD 1,903.64 million and is anticipated to reach USD 3,457.97 million by the end of the forecast period (2022-2030).
When we look at the different types of nematicides, the fumigants segment held a market share of 13.8% in 2022. Fumigants are substances commonly used by farmers to disinfect the soil and reduce the risk of crop loss caused by soilborne pests, especially in valuable crops like vegetables. Fumigants, which are often broad-spectrum pesticides, work by releasing gases into the soil. Unlike some other pesticides, they don't stick around in the soil for a long time since they are not absorbed by plants or bound to the soil.
In terms of form, liquid nematicides dominated the market, constituting 63.8% of the market share in 2021. This is because farmers widely use liquid nematicides, mainly due to the various benefits they offer. Major players in the industry, such as Bayer Crop Science, provide liquid nematicides like Velum Prime for crops like potatoes and carrots. Farmers find liquid nematicides advantageous due to their easy availability and user-friendly application methods. Velum Prime, for instance, can be applied in-furrow or as a surface spray before planting potatoes. It is effective against specific species of potato cyst nematodes, providing protection for potato crops, including ware, seed, and salad varieties. It's important to note that the effectiveness of these nematicides can vary depending on factors such as soil composition, with soils rich in organic matter potentially showing different results.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 1,903.64 Billion |
| Market Size Value In 2023 | USD 2,039.95 Billion |
| Growth Rate | 7.83% (2023-2032) |
Nematicides Market Highlights:
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